Analyst: If oil prices stabilize, the US technology sector may benefit

Golden Ten Data July 15th | Patrick Munnelly from Tickmill Group pointed out in a report that if oil prices stabilize and investors lower their expectations for US Federal Reserve rate hikes, the US technology sector may benefit. Previously, rising oil prices had prompted the market to price in a higher possibility of Federal Reserve rate hikes in the coming months and weakened demand for risk assets. However, he also noted that if energy prices climb further, inflation concerns may intensify, thereby weakening market risk appetite.