Brent falls below $90/bbl, pausing rally, on weaker demand outlook
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- Wall Street ends lower as higher yields, rising oil prices mark shaky start to September
- Oil prices jump 4% as fresh US-Iran fighting stokes supply fears
- Two Saudi tankers struck in Strait of Hormuz Monday
- Dell again lifts annual forecasts as AI demand powers record results
- Fed’s Barr backs rate hike if inflation fails to cool, September odds hit 66%
Berenberg Prefers Energy Over Technology Noting 'tech will face headwinds as central bank balance sheets normalise further'
September 8, 2023 10:36 AM EDTBerenberg Research analyst Jonathan Stubbs comments "The tech sector was a big underperformer in 2022; globally, the sector returned -34% last year and underperformed global equities by almost 20%. Ytd, tech has been the best-performing global sector, with near-25% relative outperformance. US tech has led the way, returning 49% and outperforming US equities by 27%. In Europe, tech has returned 15% for more modest outperformance against European equities (7%). Tech has performed despite rising rates,... More
