Energy Up After Trump Hint That Trade Negotiations May Continue -- Energy Roundup

05/10/19 04:23 PM EDT

Shares of energy companies rose as traders hedged their bets on the outlook for global trade. Even as the U.S. imposed higher tariffs on Chinese imports, President Donald Trump hinted, in a tweet, that negotiations with Beijing could continue. Among small- and mid-cap stocks, one strategist said opportunities abound in the energy sector. "This group continues to get cheaper with valuations near all-time lows," said Steven DeSanctis, equity strategist at brokerage Jefferies, in a note to clients. Occidental Petroleum Chief Executive Vicki Hollub defended the company's $38 billion deal to buy rival Anadarko Petroleum.

 

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

May 10, 2019 16:23 ET (20:23 GMT)

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