Morning Brief – March 8, 2022

By Editor•

This could get bad.  Real bad.

So bad, you may want to bike, walk, teleport, or flap your arms and hope to take flight bad.

We’ve never paid this much for gasoline.

At the moment, the average pump price is up to $4.14, according to the Oil Price Information Service.  That shattered the previous record high of $4.11 set back in 2008.

Unfortunately, it may only get worse, with Russia saying oil could hit $300.

That’s according to a recent Reuters report that says, “Western countries could face oil prices of over $300 per barrel and the possible closure of the main Russia-Germany gas pipeline if governments follow through on threats to cut energy supplies from Russia.”

Not helping, the U.S. is getting set to ban Russian oil, natural gas, and coal without European participation as early as today. “Given Russia’s key role in global energy supply, the global economy could soon be faced with one of the largest energy supply shocks ever,” Goldman Sachs said, as quoted by CNBC.

While the news is likely to damage the economy, and most stocks, it’s thrusting green energy stocks into the spotlight.  Solar names like First Solar and Sunrun are soaring.  Fuel cell stocks, like Bloom Energy are surging.  And oil stocks, like Exxon and Chevron should gush higher.

 

Markets

  • The Dow is up about 64 points to 32,846
  • The S&P 500 is up about eight points to 4,206.15
  • The NASDAQ is down about 18 points to 13,303
  • Gold prices are up another $13.96 to $2,012.69
  • Bitcoin is down slightly to $38,702.15
  • Oil prices are up another $2.40 to $122.30
  • The VIX is up another 3.46 points to 35.44

Trading Tips

Hydrogen stocks are on the move.

All after Goldman Sachs said hydrogen generation could be a $1 trillion per year market.

“If we want to go to net-zero we can’t do it just through renewable power,” Michele DellaVigna, the bank’s commodity equity business unit leader for the EMEA region, told CNBC. “We need something that takes today’s role of natural gas, especially to manage seasonality and intermittency, and that is hydrogen.”

It’s why investors may want to consider taking a position in stocks.  Read more here. 

Insider Buying: Dillard’s Inc. (DDS)

Keep an eye on DDS.

Dillard’s director Warren Stephens just paid out $4.6 million for 20,000 shares in late February 2022.  He paid an average price of $230.51 per share.

In addition, according to TheFly.com, the company reported Q4 revenue of $2.11 billion, as compared to expectations for $2.05 billion.  

CEO William Dillard, II stated, “We ended FY21 on a very strong note with a fourth consecutive record quarter. Our fiscal year net income of $41.88 per share exceeds any annual performance in our history. Importantly, during the year, we returned $866M to our shareholders through dividends and share buyback, while still ending the year with $717M in cash.”

 

Making Headlines