Oil stocks are the antidote to Nvidia, rest of Big Tech, Barron’s says

Oil and water may not mix, but oil and tech stocks could be a perfect combination, Ben Levisohn writes in this week’s edition of Barron’s. By now, we all know that Big Tech is the driver of this bull market’s big gains, the author says. But nothing goes up forever, and now, with the sector making up a third of the market and trading near its highest valuation in more than 20 years, spreading the bets seems like a decent idea. Oil stocks may be the perfect complement, the publication says, adding that oil stocks are perhaps the closest thing there is to an anti-tech trade. Of course, more than the technicals need to line up for energy stocks to rally. The most important is the price of oil, which needs to at least hold steady, if not rise even more, Levisohn notes. The publication highlights Coterra Energy (CTRA), EOG Resources (EOG), Occidental Petroleum (OXY) and Exxon Mobil (XOM).