NEWS
Macro Moves Make For A Messy Market

U.S. stocks remain subdued by broader macroeconomic headwinds, though the energy sector has caught a renewed interest from investors and traders. Below the surface, however, there remains notable speculation occurring in some of the market’s most volatile businesses. 👀

Today's issue covers why all eyes are on oil, speculative names continuing to trend, and which stock got a major boost from the U.S. Department of Energy (DoE). 📰

Here’s the S&P 500 heatmap. 2 of 11 sectors closed green, with energy (+1.76%) leading and consumer discretionary (-1.16%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $PW, $EVGO, $NRGV, $AMTD, $STEM 📉 $STZ, $BFLY, $PLBY, $BAC, $RKT*

*If you’re a business and want to access this data via our API, email us.

COMMODITIES
Another Day All About Oil 🛢️

U.S. and global crude oil prices continued their gains today on speculation that Israel could strike Iranian oil facilities as retaliation for yesterday’s missile barrage.

When reporters asked whether the U.S. would support that, President Joe Biden said, “We’re discussing that. I think that would be a little - anyway… there’s nothing going to happen today.” 😬

Still, the market quickly worked to price in that potential risk, pushing U.S. crude oil prices back into positive territory on a YTD basis. As a result, bulls and bears are heavily debating whether this is a temporary pop in prices or the start of a rebound in the broader energy sector.

Stocktwits user @cfromhertz shared a balanced perspective on why the sector could be ready for a sustained rally. 🤔

Bears argue that spare OPEC+ capacity would sufficiently cover any disruption to Iran’s exports if they’re impacted. However, analysts are primarily worried about supply disruptions in the Strait of Hormuz.

One analyst noted this would add a significant risk premium to oil and could push oil prices back to $200 per barrel if Iran’s infrastructure is materially impacted. ⚠️

Most see that as a worst-case risk, but the consensus view right now is that oil prices will likely have an upward bias until there is more clarity about the Middle East conflict’s impact on the market.

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