Good MorningEquity markets moved modestly higher on Monday after OPEC+ announced a surprise production cut. Starting in May, the cut is worth more than 1 million barrels per day and will tilt the supply-demand balance firmly in favor of higher prices. The news sent the price of WTI up by more than 6%, which was sustained through the end of the session. Analysts are already discussing $100 oil, which could be a cautious estimate given the coming travel season.
The real takeaway from the oil news is inflation. Another spike in oil prices will be felt at all levels of the economy and spark another round of negative feedback loops. In this scenario, inflation will not only accelerate but could also reach new highs. This will leave the FOMC no choice but to continue hiking interest rates and adding pressure to an economy already showing signs of distress. Featured: Buy THIS stock before Taiwan is attacked (Behind the Markets) 
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Tech | | |
Make way; the technology bulls are charging again! Already up more than 20% this year, the global information technology sector is leading the market higher in 2023. Signs of bank stabilization and muted inflation data helped U.S. stocks end the first quarter on a high note Friday, with some ... Read the Full Story |
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Markets | | |
McDonald’s Corporation (NYSE: MCD) stock continues to move higher after a March that saw MCD stock climb approximately 7%. In mid-March, the stock broke above its 10-, 20-, and 50-day simple moving averages and began to move higher.
One catalyst for the stock may be some recent price... Read the Full Story |
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Markets | | |
Candy stocks have been on fire this year. Sweet tooths worldwide can't seem to get enough sugar in their diets. Candy and snacks are more of a consumer discretionary item within the consumer staples category. But some may argue that you can live on chocolate bars and cookies, diabetes withstanding... Read the Full Story |
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Stocks | | |
The pandemic surged pet ownership. As people stayed home, they embellished in hobbies and embraced adding a fur baby to the family. A Forbes Advisory survey found that 78% of pet owners acquired pets during the pandemic. During the pandemic, in almost one in five households, 23 million brought hom... Read the Full Story |
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Markets | | | Credit Suisse shareholders on Tuesday upbraided the Swiss bank's leaders for years of mismanagement, scandal and obfuscation that sent its stock price into the gutter, while executives apologized and insisted that the only way forward for the once-venerable lender was a government-engineered takeove... Read the Full Story |
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Markets | | | Oil prices jumped 5% overnight as OPEC+ announced a surprise production cut of 1.65 million barrels per day. The cut will start in May and last through the end of the year. Major oil producers like Saudi Arabia, Russia, and Iraq are making significant production cuts.
Here’s the full breakdow... Read the Full Story |
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Markets | | | Major oil-producing countries led by Saudi Arabia said they're cutting supplies of crude — again. This time, the decision was a surprise and is underlining worries about where the global economy might be headed.Russia is joining in by extending its own cuts for the rest of the year. In theory, less ... Read the Full Story |
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Markets | | | Australia’s central bank left its benchmark interest rate on hold at 3.6% on Tuesday following evidence that inflation is falling.It was the first monthly meeting at which the Reserve Bank of Australia board did not hike the cash rate since April 6 last year.Australia's annual inflation appears to h... Read the Full Story |
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Markets | | | China’s recovery from the pandemic and strong demand in India will drive strong economic growth in Asia this year, the Asian Development Bank said in a report issued Tuesday. The Manila, Philippines-based ADB’s latest update forecasts an expansion of 4.8% in this year and the next, up from 4.2% in 2... Read the Full Story |
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Markets | | | With tax season in full swing, you may be consolidating the various charitable donation receipts, deductions and W-2 forms that you’ll submit to the Internal Revenue Service. But if you received any bank sign-up bonuses or earned interest on your bank balance, you may owe additional taxes you might ... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores. The company was founded by David Allemann, Olivier Bernhard, and Caspar Coppetti in January 2010 and is headquartered in Zurich, Switzerland. | | View Today's Stock Pick |
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