The Nasdaq Composite Index of predominantly technology stocks fell around 3% from its peak. I do not think this is the beginning of a repricing of technology stocks. The global IT market is still growing, the number of smartphone users is growing and the fundamentals of the global technology stocks still seem positive and intact. Any correction is still a buying opportunity.
As of late, there has been hawkish talk of raising interest rates by leading central banks like the ECB, Bank of Canada etc. and the yields on the government bonds of the world's biggest economies have risen. Personally, I do not believe this is a trend of rising yields, at least not markedly as of yet. If there is not another global recession, I believe the interest rates in advanced countries could start rising somewhere in 2018.
US WTI Oil could fall below 30 USD. If this happens, this would be a buying opportunity for oil stocks majors, oil fracking companies. Good bets if this happens, as far as I am concerned, could be Marathon Oil Corporation and Petroleo Brasileiro.
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Kind regards,
Petar Posledovich