Global Commodities, Mint Finance

Srinidhi Raghavendra

Global Commodities

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Cross Asset Strategy

<ul>
<li>Markets raced to 52-week highs across US equity benchmarks with rally in tech stocks contributing to much of these gains. Nikkei raced to print another 34-year high.</li>
<li>Oil &amp; Copper ticked higher while other major commodities trended downwards last week. Beans and Corn marked their lowest price prints over the last 52-weeks.</li>
<li>Life is too short to be spent writing for an echo chamber and rewriting to meet the often arbitrary demands of a reviewer, writes Dr Damodaran.</li>
</ul>


Markets raced to 52-week highs across US equity benchmarks with rally in tech stocks contributing to much of these gains. Nikkei raced to print another 34-year high.
Oil &amp; Copper ticked higher while other major commodities trended downwards last week. Beans and Corn marked their lowest price prints over the last 52-weeks.
Life is too short to be spent writing for an echo chamber and rewriting to meet the often arbitrary demands of a reviewer, writes Dr Damodaran.


[TW2] US & JPN Equities on Steroids While China Remains Shaky on Deflation Fears (W/E 19th Jan 24)

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>This is our first report on oilfield service major, Halliburton Company.</li><li>The company delivered a mixed set of results for the previous quarter with revenues well below analyst expectations but managed an earnings beat.</li><li>As Halliburton capitalizes on this extended upcycle, its strategic execution reaffirms its trajectory of sustained success in the oilfield services sector.</li></ul>

This is our first report on oilfield service major, Halliburton Company.The company delivered a mixed set of results for the previous quarter with revenues well below analyst expectations but managed an earnings beat.As Halliburton capitalizes on this extended upcycle, its strategic execution reaffirms its trajectory of sustained success in the oilfield services sector.

Halliburton Company.: Initiation of Coverage – Business Strategy

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Over the last two weeks we discussed expectations for an oversold bounce; the bounce has continued. We believe it is possible we've seen the lows for this pause/pullback on SPX.</li>
<li>We see low probability of a meaningful correction if SPX is above 4300-4325 (1.5-year support), but would not be surprised to see another month+ of consolidation between 4325 and 4600.</li>
<li>Shorter-Term, as long as 4460 short-term support holds, we expect a test of 4600. Today we highlight several buys within Energy.</li>
</ul>


Over the last two weeks we discussed expectations for an oversold bounce; the bounce has continued. We believe it is possible we've seen the lows for this pause/pullback on SPX.
We see low probability of a meaningful correction if SPX is above 4300-4325 (1.5-year support), but would not be surprised to see another month+ of consolidation between 4325 and 4600.
Shorter-Term, as long as 4460 short-term support holds, we expect a test of 4600. Today we highlight several buys within Energy.


Bounce Continues; Small-Caps Test 3.5-Year RS Lows; Nasdaq/NYSE Breadth Improving; Buys in Energy

iShares Russell 2000 ETF / Technical Analysis

<ul>
<li>We continue to believe the path of least resistance is higher for the major equity indexes, which has been our stance since our 5/30/23 ETF Pathfinder.</li>
<li>Beginning with our 7/18/23 Compass, we discussed our expectation for major 1+ year breakouts on the equal-weighted S&amp;P 500 (RSP), Dow, and Russell 2000 (IWM). </li>
<li>The breakouts happened later that day on the <a href="https://www.smartkarma.com/entities/invesco-s-p-500-equal-weight-e" target="_blank" data-smartkarma-citation="entities:32932:1" rel="noopener">RSP</a> and Dow (above $153 and 34,280, respectively), and the <a href="https://www.smartkarma.com/entities/ishares-russell-2000-etf" target="_blank" data-smartkarma-citation="entities:32964:1" rel="noopener">IWM</a> is now on the cusp of breaking out above $199.</li>
</ul>


We continue to believe the path of least resistance is higher for the major equity indexes, which has been our stance since our 5/30/23 ETF Pathfinder.
Beginning with our 7/18/23 Compass, we discussed our expectation for major 1+ year breakouts on the equal-weighted S&amp;P 500 (RSP), Dow, and Russell 2000 (IWM). 
The breakouts happened later that day on the RSP and Dow (above $153 and 34,280, respectively), and the IWM is now on the cusp of breaking out above $199.


Expecting Russell 2000 (IWM) Breakout Above $199; Highlighting Buys in Energy

Equity Long-Short Analyst

Pyari Menon

Thematic (Sector/Industry)

<ul>
<li>We again write about one stock each from the large, mid and small cap portfolios, briefly giving the reasons behind their inclusion.</li>
<li>The three companies we write about this week are <strong><a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a> , <a href="https://www.smartkarma.com/entities/schlumberger-ltd" target="_blank" data-smartkarma-citation="entities:20625:1" rel="noopener">Schlumberger Ltd (SLB US)</a></strong> and <strong><a href="https://www.smartkarma.com/entities/whirlpool-corp" target="_blank" data-smartkarma-citation="entities:1538:1" rel="noopener">Whirlpool Corp (WHR US)</a> </strong>
</li>
<li>For the six weeks ended 30 Dec the combined innovation portfolio was -1.7, versus DJIA -1.8%, S&amp;P500 -3.2%, Nasdaq -6.1% &amp; MSCI-ACWI-ETF -2.4%, all in US$ terms</li>
</ul>


We again write about one stock each from the large, mid and small cap portfolios, briefly giving the reasons behind their inclusion.
The three companies we write about this week are Samsung Electronics (005930 KS) , Schlumberger Ltd (SLB US) and Whirlpool Corp (WHR US) 

For the six weeks ended 30 Dec the combined innovation portfolio was -1.7, versus DJIA -1.8%, S&amp;P500 -3.2%, Nasdaq -6.1% &amp; MSCI-ACWI-ETF -2.4%, all in US$ terms


United States

Halliburton Company provides energy services and engineering and construction services, as well as manufactures products for the energy industry.  The Company offers services and products and integrated solutions to customers in the exploration, development, and production of oil and natural gas.

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Halliburton Co (HAL US)

[TW2] US & JPN Equities on Steroids While China Remains Shaky on Deflation Fears (W/E 19th Jan 24)

Animal spirits were back in charge last week as market sentiments rose high. US and Japanese equity markets continue to set record highs. Are we...

Mint Finance

Halliburton Company.: Initiation of Coverage – Business Strategy

This is our first report on oilfield service major, Halliburton Company. The company delivered a mixed set of results for the previous quarter...

Baptista Research

Bounce Continues; Small-Caps Test 3.5-Year RS Lows; Nasdaq/NYSE Breadth Improving; Buys in Energy

Expectations over the past two weeks for an oversold bounce in $SPX have played out. 4300-4325 (1.5-year support) remains solid floor, but could...

Vermilion Research

Expecting Russell 2000 (IWM) Breakout Above $199; Highlighting Buys in Energy

Expecting Russell 2000 $IWM Breakout Above $199; Many Reasons to be Bullish; $DXY and Treasury Yields $TNX $TYX Remain Below Resistance;...

Vermilion Research

The Innovations Portfolios - Week Six

For the six weeks ended 30 Dec the combined innovation portfolio was -1.7, versus DJIA -1.8%, S&P500 -3.2%, Nasdaq -6.1% & MSCI-ACWI-ETF -2.4%, all...

Pyari Menon

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