Halliburton Is A Macro Barometer
- While Halliburton's international business is performing well, weakening economic conditions and a potential end to OPEC+ supply cuts are weighing on the stock.
- Stimulus in China and a rebound in natural gas markets are expected to provide a boost, but I tend to think that any impact on Halliburton's financials will be limited.
- Halliburton's valuation is now more reasonable, but there could still be significant downside if the global economy continues to slow.
- In particular, if onshore activity in the U.S. continues to decline, Halliburton's margins will likely come under pressure.
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Halliburton's (NYSE:HAL) share price has been under pressure in recent months, with headwinds in the US offsetting strong performance internationally. Investor expectations have also fallen on the back of soft macro conditions and a likely increase
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