From Standard & Poor's Equity Research
Here are the notes from Standard & Poor's Investment Policy Committee meeting, held on Wednesdays.
While we don't believe higher oil prices will be positive for economic growth and stock price performances, we think that $80 per barrel oil will not aggravate the expected economic slowdown or our forecast for its impact on core inflation.
S&P equity analysts expect the following S&P 500 industries to post year-over-year increases in second-quarter operating earnings in excess of 80%: Independent Power Producers (147%), Gold (132%), Semiconductor Equipment (98%), Oil and Gas Refining and Marketing (94%) and Oil and Gas Drilling (82%).
S&P's Asset Allocation