By Paul Sankey
Published on May 5, 2024 at 6:51 PM
Well personally, I feel like I got run over by Fed Chair Jay Powell last week, because I expected him to be hawkish, but he was dovish, simple as that. Guess there’s enough evidence of economic slowdown, for him to think that interest cuts are coming. CNBC May 1st 2024: Federal Reserve Chair Jerome Powell said it was unlikely that the central bank’s next move will be a rate hike. The comment spurred a rally …
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By Paul Sankey
Published on April 28, 2024 at 6:23 PM
Hello, Distracted by the Knicks WIN, this afternoon. Hard fought to 3-1 in the series vs Philadelphia. A quick run around on distillate today, we skip over a rabbit hole with luxury goods stocks, and brace you for a massive week of earnings for E&P, unless like the average investor, you own “XOM, or CVX, or COP, Valero, a midstream, and one other, let’s do FANG”. “Pitching OVV to portfolio managers is hard, however rational …
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By Paul Sankey
Published on March 25, 2024 at 2:11 PM
Gas station stocks: low end consumer weakening. Gas station play Alimentation Couche Tard ($ATD) profit warning. Negative implication for refiners with gas stations, such as DINO. We are backing off our “long gas station stocks” stance but still prefer MUSA (Murphy USA), with its massive buyback and low volatility. But watch for a couple of tough quarters ahead. We like long gasoline (equity ETF is $UGA) as a trade into Memorial Day on supply tightness, …
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