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: Boring, cheap, and paying 6% (Ad) 
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Consumer Staples | |
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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Communication Services | |
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 famil... 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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From Our Partners | | Palantir, Micron and SanDisk show how fast a stock can become the trade everyone suddenly wants. That's often when investors make their costliest mistake: arriving after the easy part of the move is gone.
A new premium eBook flags 7 stocks that may be worth knowing about before the broader crowd catches on. You don't need to buy any of them - just knowing what's quietly gaining attention can be useful. | | See the 7 stocks on the watchlist while it's still free |
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Consumer Discretionary | |
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 targ... Read the Full Story |
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Consumer Discretionary | |
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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From Our Partners | | One fund holds Nvidia, CrowdStrike, Palantir and other major AI names, and pays a 34% annualized distribution rate.
Instead of guessing which AI stock wins, this fund delivers income every single Thursday, up to $1,051 a month.
Chief Income Strategist Tim Plaehn breaks down what's inside the fund and how the weekly payouts work. | | Watch the free video to see how the weekly payouts work |
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Materials | |
Bellwether PPG Industries (NYSE: PPG) is moving higher on raised guidance. The company expects earnings to exceed its prior guidance and the consensus estimates on better-than-forecast sales and margin recovery. The news has the stock up about 5.0% in early trading and bodes well for competitor RP... Read the Full Story |
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Consumer Discretionary | |
If there weren’t enough catalysts to get bears moving out of Mullen (NASDAQ: MULN), the company announced the successful completion of a pilot program with Menzies Aviation. Menzies Aviation is a leading airport services company operating at 250 airports in 58 countries. The pilot program wa... Read the Full Story |
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Finance | |
As uncertainty around the regional banking industry continues to proliferate, an opportunity arises. In times of increased market stress, correlations tend towards 1, opening the potential to buy some of the highest quality regional banks in the United States for a steep discount.
Bank of Hawaii ... Read the Full Story |
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Consumer Discretionary | |
If results from Ralph Lauren (NYSE: RL) and PVH Corp. (NYSE: PVH) can be used as a guide, Levi Strauss (NYSE: LEVI) is about to report a solid quarter and send its shares moving higher. While these apparel manufacturers are vastly different in their styles, they share some traits that have proven ... Read the Full Story |
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Markets | |
OPEC+ surprised, no, shocked, the market with plans to cut oil (NYSEARCA: USO) production by 1.16 million barrels per day. Aside from the immediate impact of higher prices, this move has far-reaching repercussions that could result in the S&P 500 (NYSEARCA: SPY) reaching new post-pandemic lows... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play and YouTube; and devices, as well as in the provision of YouTube consumer subscription services. The Google Cloud segment offers infrastructure, cybersecurity, databases, analytics, AI, and other services; Google Workspace that include cloud-based communication and collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells healthcare-related and internet services. The company was incorporated in 1998 and is headquartered in Mountain View, California. | | View Today's Stock Pick |
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