Commodities creating a ‘bumpy ride for stocks’

Ireland News News

CommSec’s Tom Piotrowski says oil share prices in the global market are creating a “bumpy ride for stocks” as it continues to feed into “inflationary expectations”. “Worth keeping an eye on commodity-related sectors or mining stocks, you’ve got a range of commodities at multi-month high and amongst them oil,” Mr Piotrowski told Sky News Australia. “Oil was up by about four per cent last week … and what that is doing is feeding into inflationary expectations. “It’s part of the reason why you’re seeing those long-term interest rates and short-term interest rates pushing higher. “That dynamic is what’s creating a bit of a bumpy ride for stocks at the moment.” Presented by CommSec.