Patrick Munnelly: The US technology sector benefits from the stabilization of oil prices and the lowering of expectations for Fed interest rate hikes

Patrick Munnelly of Tickmill Group pointed out that if oil prices stabilize and investors lower their expectations for the Federal Reserve to raise interest rates, the US technology sector will benefit. The rise in oil prices has prompted market pricing to reflect a higher likelihood of the Federal Reserve raising interest rates in the coming months, and has weakened demand for risk assets. If energy prices rise and inflation concerns intensify, it will weaken market risk appetite.