PXD - 2 Energy Stocks That Could Lead the Next Bull Market
2023-07-19 05:35:00 ET
The stock market rallied strongly from its recent lows, with some market watchers already saying the next bull market is underway. But there's a nuance to the market's advance since there are still material concerns about economic growth around the world. If economic activity picks up, however, it will likely power the markets to greater heights. That would likely be great news for Pioneer Natural Resources (NYSE: PXD) and Devon Energy (NYSE: DVN) and their shareholders.
Energy prices are known for being volatile and they also tend to be highly cyclical . That makes sense, given that demand for energy rises when economic activity is high and declines when economic activity is low. High demand leads to rising energy prices while low demand leads to falling energy prices for these vital commodities. While that's a simplification, it is a reasonable way to frame the energy sector.
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2 Energy Stocks That Could Lead the Next Bull Market