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Key points:
Strong US Q1 tech earnings underpin ongoing Wall Street strength into Nvidia (NASDAQ:NVDA)Moss is positive on energy names Woodside (ASX:WDS), Karoon (ASX:KAR), Santos (ASX:STO) on an elevated oil price view Copper thematics support BHP (ASX:BHP), Rio (ASX:RIO) and Sandfire (ASX:SFR), with Moss eyeing buy-the-dip opportunities
Wall Street momentum still has room to run, according to Heath Moss from HLM Investments, who points to powerful US first-quarter earnings, particularly in technology. Moss expects the current rally to extend into Nvidia’s (NASDAQ:NVDA) result, which he views as largely “baked in” given strong updates from key customers such as Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG). He suggests any Nvidia weakness may trigger only a short-term pullback before markets refocus on macro risks, including the Iran conflict and its impact on energy prices and second-quarter earnings.
In energy, Moss sees structurally tighter supply keeping oil above US$80 a barrel over the next 12–24 months, with damaged infrastructure and shut-in production taking time to restore. He is constructive on local names Woodside Energy (ASX:WDS), Karoon Energy (ASX:KAR) and Santos (ASX:STO), arguing analysts are underestimating the oil price path. Moss views the energy sector as both a cyclical opportunity and a practical hedge against weaker areas of the market.
Copper-linked miners are another focus. With BHP (ASX:BHP) and Rio Tinto (ASX:RIO) hitting records on copper strength, Moss highlights supply constraints tied to China’s curtailed sulphur and sulphuric acid exports. He is currently holding diversified miners and copper pure play Sandfire Resources (ASX:SFR), planning to accumulate on any 10–15% pullback, citing long-term copper demand from AI, electrification and energy transition.
