Have We Witnessed a Bottom in Resources?
On this segment of Financial Sense Newshour with host Jim Puplava, Frank Holmes joins other industry experts to add insight on the latest moves in the stock market. When Jim asks Frank about the energy sector, Frank says he believes we’ve reached a bottom in resources.
Frank comments that the global purchasing managers’ index (PMI) data, a forward-looking measure of the global economic activity, is one indication of this. In August we witnessed commodities start to unravel when the one-month PMI data crossed below the three-month trend. However, we are now starting to see global PMI turn positive again so this could be a sign that the bottom in resources has formed.
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Past performance does not guarantee future results. All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. This news release may include certain “forward-looking statements” including statements relating to revenues, expenses, and expectations regarding market conditions. These statements involve certain risks and uncertainties. There can be no assurance that such statements will prove accurate and actual results and future events could differ materially from those anticipated in such statements.
The Purchasing Manager’s Index is an indicator of the economic health of the manufacturing sector. The PMI index is based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment.
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