Commodity stocks seen as 'catch-up trade' at JPMorgan

Shares of commodity producers look like a “catch-up trade” for anyone who missed a post-Christmas rally in U.S. stocks, according to Marko Kolanovic, JPMorgan Chase & Co.’s global head of quantitative and derivatives strategy. “This could present an opportunity to capture potential progress on China trade negotiations,” Kolanovic wrote in a report Thursday. Energy and raw-material companies in the S&P 500 Index dropped more than the benchmark from its Sept. 20 peak through Thursday, according to data compiled by Bloomberg.