The Best Oil Stocks to Buy and Sell Right Now
Markets are caught up in a familiar “push me, pull you” action as the battle of narratives continues and people speculate on whether recession fears are going to push the Federal Reserve to pause rate hikes and reverse course.
You know where I stand - I've been saying for a while that barring some kind of economic calamity, the Fed is going to stick to its guns until inflation gets back down to that 2% target. But that doesn't mean that a rally is out of the question, at least for now.
Markets are closed tomorrow for Good Friday, and that's interesting, because the jobs report is also coming out tomorrow, and if the numbers don't look good, we could see a big push going into next week. I know that may sound counter-intuitive, but we're in a "bad is good" space right now - anything that makes it seem more likely that the Fed will get spooked and lower rates is a positive signal for the market.
My advice to you: enjoy whatever rally we have while it lasts, because the longer-term outlook is not great. I'll be talking about how to prepare for that in more depth in tomorrow's Total Wealth article, but today, I want to turn your attention to a sector that's brimming with opportunities right now - oil and gas.
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