😤 Why Gas Prices Could Continue to Climb Even if Oil Prices Don’t

Good morning. Energy prices are one of the biggest drivers of inflation. Russia's ongoing war...

It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.

Good morning. Energy prices are one of the biggest drivers of inflation. Russia's ongoing war in Ukraine has kept oil prices near seven-year highs. The good news? they're still a bit off highs in the $140 range, such as those set in 2008. But gasoline prices continue to hit record highs. And that trend may continue. Two key reasons explain why. First, refining capacity is too low to meet current demand. Second, refiners have to trade off turning oil into gasoline or into diesel fuel. As diesel prices trend higher, so does the cost of shipping, which can impact prices for any physical good. That's why traders should look to scale out of some of their energy trades, and focus on companies like refiners that can perform well in today's shifting energy markets. Now here's the rest of the news: Sponsored Content Invest In This Biotech Company Solving A $240B Problem Every year, over 600M patients suffering from osteoarthritis spend $240 billion on painkillers and other palliative solutions to the cartilage damage caused by this debilitating disease. These "band-aid" therapies are temporary and do not treat the root cause of osteoarthritis. Enter Cytonics. This private biotech startup has harnessed the therapeutic potential of a naturally occurring blood protein, called "A2M," to reverse cartilage deterioration in arthritic joints. Their first FDA approved A2M-based therapy has successfully treated over 8,000 patients, proving the therapeutic efficacy of A2M, and restoring patients' quality of life. Backed by Johnson & Johnson and the NIH, Cytonics is developing a genetically engineered A2M variant that is more potent than the natural form. This lead drug candidate, "CYT-108," has been proven to restore up to 80% of cartilage damage caused by osteoarthritis in preclinical studies. Cytonics' first-in-in-class CYT-108 will enter Phase 1 clinical trials later this year. Invest in Cytonics as they blaze toward their second FDA drug approval, and before this private biotech goes public. MARKETS DOW 30,530.25 +2.15% S&P 3,764.79 +2.45% NASDAQ 11,069.30 +2.51% *As of market close • Stocks rallied higher on Tuesday, after the market's worst week since March 2020. • Oil rose 1.0 percent, closing at $110.58 per barrel. • Gold sank 0.5 percent, going for $1,832 per ounce. • Cryptocurrencies rebounded after the weekend, with Bitcoin at $20,952 at the market close Today's TOP TIPS This Sector Gets Hit Hard in a Bear Market – and Tends to Lead in a Bull Market Some sectors of the stock market perform differently at different times. Commodity producers and utilities have held up somewhat well in the current bear market, even as tech stocks have been hit hard. Another area hit hard has been financial stocks, particularly banks. These companies have had to contend with rising interest rates. Demand for mortgages has stalled, which tends to be a big source of business, as well as mergers and acquisitions for big banks. » FULL STORY Insider Trading Report: Vistra Corp (VST) Brian Ferraioli, a director at Vistra Corp (VST), recently picked up 8,050 shares. The buy increased his holdings by nearly 12 percent, and came to a total purchase price of just over $181,000. The buy came three days after the company president and CEO picked up 32,000 shares for just over $547,000. Over the past three years, company insiders have been active as both buyers and sellers, with buyers having a slight edge over that time period. » FULL STORY Unusual Options Activity: Magnite (MGNI) Shares of advertising agency Magnite (MGNI) have shed two-thirds of their value in the past year. One trader sees further downside going into the latter half of the year. That's based on the January 2023 $12.50 puts. With 212 days until expiration, 3,950 contracts traded compared to a prior open interest of 131, for a 30-fold rise in volume on the trade. The buyer of the puts paid $4.30 to get in. » FULL STORY IN OTHER NEWS • Existing Home Sales Drop in May Sales of existing homes dropped 3.4 percent in May, to 5.41 million units. The drop was further than expected, and the weakest reading since June 2020 in the early days of the pandemic. April's sales were also revised lower. While sales have dropped, homes have stayed on the market for just 16 days on average, near the lowest on record. • Companies Face Challenges Leaving Russia While a number of companies have already announced plans to leave Russia, a few firms are having trouble leaving the market. Philip Morris (PM) is reporting that their attempt to leave the country, which started in March, is being hit with regulatory challenges. The company is trying to avoid letting the government seize the business entirely. • Kellogg Plans to Split into Three Firms Kellogg (K) has announced a plan to split into three companies. The company will spin off its cereal business, its snack business, and its plant-based food operations. The names of the spin off companies will be determined later. Shares rallied on the news. • GM Delivers 150 Electric Vans to FedEx General Motors (GM) has delivered 150 vans to FedEx (FDX). This marks the first major delivery since 5 vans were delivered back in December. Overall, the package delivery company is looking to buy 2,500 vans to start, with an order for another 20,000 pending. • Twitter Asks Shareholders to Approve Musk Takeover The board of Twitter (TWTR) is asking that the offer to be taken over by Elon Musk be approved by shareholders. The offer is still at $44 billion, even as Musk has asked for data on how much of the platform is being operated by bots. At current prices, Twitter currently has a market cap of about $30 billion. S&P 500 MOVERS TOP TSLA  9.354% FANG  8.169% PXD 7.116% UNH 6.251% XOM 6.224% BOTTOM DVA 15.009% BBWI 9.454% META 4.086% DISH 5.272% NFLX 5.136% Quote of the Day The recent drop in equity markets and inflection in investor attitudes make a bottoming thesis more difficult to make. Investors are acting emotionally, but the fundamentals are beginning to follow the weakness in the technicals. - Mark Hackett, chief of investment research at Nationwide, on why the stock market may be under further strain in the months ahead. Sponsored Content Invest In This Biotech Company Solving A $240B Problem Every year, over 600M patients suffering from osteoarthritis spend $240 billion on painkillers and other palliative solutions to the cartilage damage caused by this debilitating disease. These "band-aid" therapies are temporary and do not treat the root cause of osteoarthritis. Enter Cytonics. This private biotech startup has harnessed the therapeutic potential of a naturally occurring blood protein, called "A2M," to reverse cartilage deterioration in arthritic joints. Their first FDA approved A2M-based therapy has successfully treated over 8,000 patients, proving the therapeutic efficacy of A2M, and restoring patients' quality of life. Backed by Johnson & Johnson and the NIH, Cytonics is developing a genetically engineered A2M variant that is more potent than the natural form. This lead drug candidate, "CYT-108," has been proven to restore up to 80% of cartilage damage caused by osteoarthritis in preclinical studies. Cytonics' first-in-in-class CYT-108 will enter Phase 1 clinical trials later this year. Invest in Cytonics as they blaze toward their second FDA drug approval, and before this private biotech goes public. Not sure the best way to get started? Follow these simple steps to hit the ground running. › Step #1 - Get These FREE Reports: Warren Buffett's Top 5 Stocks | 10 Great Stocks Under $10 | 7 High Yield Dividend Stocks › Step #2 - Join Our Premium Advisory: The Next Superstock › Step #3 - Claim Your Free Copy Of: Big Book Of Chart Patterns | How to Trade Weekly Options For Weekly Income We just wanted to take a moment and say thank you so much for being part of our family! 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