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By Jason Stipp and Jeremy Glaser | 12-05-2014 09:00 AM

Friday Five: Energy Bargains Bubble Up as Oil Slides

Plus, no QE present yet for the eurozone, auto sales rev, and Barnes & Noble reclaims its Nook.

Jason Stipp: I'm Jason Stipp for Morningstar and welcome to The Friday Five: Morningstar's take on five stories from the market this week.

Joining me with The Friday Five is Morningstar markets editor Jeremy Glaser.

Jeremy, thanks for being here.

Jeremy Glaser: You're welcome, Jason.

Stipp: Up first this week, we heard from the ECB and Mario Draghi. They keep dancing around QE, but they are not ready to pull the trigger yet.

Glaser: He really does, and we heard this week about how they are preparing for QE, they are thinking about it. But no sign of a concrete timetable of when it will happen. They say they are going to consider it early next year, but we just haven't seen that action yet.

This just shows how QE is much harder for the ECB to implement than you had at the Bank of Japan or the U.S. Fed, because they have these constraints and concerns about, is this going to create too much inflation? Will this get out of hand?

But the eurozone is still showing signs of inflation getting dangerously low, and with oil prices continuing to come down, that doesn't show any signs of abating outside of maybe some intervention from the central bank. I think we're still going to see some action from them, but it might be a little bit later than investors had initially thought.

Stipp: We got monthly auto sales data this week, and it looked really good--better than it has for a long time.

Glaser: It was a good month for auto sales. This was the best November since 2001. Automotive News estimates that on an annualized seasonally adjusted rate, over 17.22 million cars were sold, which is a very good number. And it looks like we are on track, according to our auto analysts, to have around 16.5 million cars sold on a seasonally adjusted annualized rate basis for 2014, which is up 6% from 2013 and well above the 10.5 million that were sold in 2009 at the base of the recession.

Clearly the auto recovery very much continues to progress; people are feeling more confident to go out and buy cars, and they are able to get the credit to buy cars. The results from GM and Chrysler were pretty good; Ford was a little bit more mixed.

Overall, the market has recognized that the automakers are doing better. These stocks were recently very undervalued but have come up. They are now trading in 4-star territory. But they are still trading under their fair value estimates, and even if they are no-moat businesses and have a lot more uncertainty, they still are trading at a discount.

Stipp: Auto sales are moving up, but oil prices continue to come down after OPEC's Thanksgiving meeting. But we are seeing some opportunities potentially opening up in energy.

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