Within energy, Mr.Rauscher cautions that investors should separate out the refiners and big integrated oil companies whose margins come under pressure from higher crude prices.

• 劳舍尔提醒说，在能源类股中，投资者应该把炼油厂和大型综合石油公司的股票与其他股票区分开，这些公司的利润率因原油价格上涨而承受着压力。