Suncor Energy Inc. T.SU

Can't win.....

[matt2018]

If jobs report is strong (it was, double expectations), then oil moves lower as odds increase of further Fed tightening.  If jobs report was negative, oil moves lower as the demand will now drop as recession kicks in.  If China numbers (on whatever they are reporting on) are weak, then oil moves lower and so on and so forth.  For me, more people working = more people needing to move around to get to places = more demand.  Most need to work to pay the bills.

[Experienced]

lol....Matt Couple of points... 1....if you (unlike me) believe in the long term prospects for oil and oil companies then none of this should matter to you 2...when things don't make sense then that is a good reason to go the other way in terms of investment decisions except when market conditions are as expressed in the next paragraph. That said, as I have been talking about in many posts

[matt2018]

Experienced....I called for market pullback last week after the blow out 1st half numbers.  Nasdaq had its best 1st half in 40 years, up over 32+%.  That's not retail money (drop in the bucket), that did that. Also, some of these "grownups" have also been on record as short and/or with piles of cash on the sidelines, where they missed out on some big time gains (on the S

[corvette67]

I agree with you Matt, Oil is a manipulated commodity and Opec has said $70 is their bottom line. That bodes well for NA producers.  I have been in cash since Feb but bought back my SU today under $38 as well as one bank stock.GLTA

[matt2018]

Nice move corvette67...... nobody knows where bottom of price cycle is but to start buying back in on a really down day is usually positive.  Maybe I should get you to do my buys!

[PabloLafortune]

Fiscal policy wise, they've pumped the tires on the real economy like there's no tomorrow. As a result, there remains significant inflation in the economy DESPITE much lower energy prices than a year ago. And while rig counts are down, the effect won't be felt for many months (that's how that works).  But when it does, it could lead to higher inflation and higher interest

[Experienced]

Pablo....well said!!!

[matt2018]

Pablo.... the Cdn May CPI # (Canadian Price Index) came in at 3.4% (a very good number) Biggest part of that # was higher mortgage costs (up 35% in May), due to higher interest rates, which BOC has created. If you remove the higher mortgage costs, CPI would have been 2.5% High interest rates is what is keeping inflation high. Our right is for the BOC to their job. They are the ones planning to

[matt2018]

The Consumer Price Index (CPI) rose 3.4% year over year in May, following a 4.4% increase in April. This is the smallest increase since June 2021. The slowdown was largely driven by lower year-over-year prices for gasoline (-18.3%) resulting from a base-year effect. Excluding gasoline, the CPI rose 4.4% in May following a 4.9% increase in April. The mortgage

[Torontojay]

I understand this Matt.  Canada's mistake is that they are too focused on the policy rate to drive inflation lower. How about controlling the long end of the bond market which would have an immediate impact on mortgages and would eliminate multiple bid offers on homes. I've said this for a long time but Canada does need a reset on home prices. This would certainly allow them to

[PabloLafortune]

Hi Matt, I was thinking more in US terms and it's trickle down effect on Canada for both stock market and inflation. One thing I will say, I'm not seeing 3-4% inflation in BC. Housing/rents, groceries, restaurants, cars, everything is up quite a bit. That said, not only is the BoC contributing to inflation but the carbon tax is as well. YMMV. It's hard to say how oil and gas will react