Is Goldman Sachs Bullish on the Energy Sector?
The “economic underpinnings are actually better than they have been for some time,” he said in the interview. “We could be on the threshold of a bull market.” The key to his bullish market, along with extremely low interest rates and the improving housing market, is the energy sector. He described the current U.S energy situation as “terrific,” and commented that the sector could boost manufacturing and create jobs in the near future.
While one day of noticeable gains does not make a trend, the energy sector seemed to be following the course he set out earlier this week. On Thursday, shares of Halliburton (NYSE:HAL) advanced $2.48, or 6.1 percent, to $43.32 per share, while Nabors Industries (NYSE:NBR) gained 76 cents, or 4.4 percent, rising to $17.92. Coal companies, Alpha Natural Resources (NYSE:ANR) and Peabody Energy (NYSE:BTU), followed in suit, adding 14 percent and 4.5 percent respectively.
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