Markets flip flop but generally remain on recovery as the heat off Russia-Ukraine war is now back into attention on economic growth. With new earning season arriving, investors are still picking up badly beaten stocks and sustained risk-on sentiments. Nonetheless, the accumulation is less aggressive as the week had saw major run up in indexes.
🎢High oil prices to stay?⏰
As geopolitical risks remain, oil prices have remained elevated. OPEC+ is expected to maintain its production targets, and this means the world is likely to face a tight supply of oil as there is a potential of losing three million barrels of oil from Russia daily.
Some analysts had warned that Russia is a vital member of the OPEC+ and a complete stoppage of Russian oil will push Brent futures to hit $200 a barrel, a level that is perhaps too difficult for consumers to stomach.
Persistent high oil prices will likely feed into inflation and motivate the Fed to take more aggressive action to tame inflation.
🤼Nikola: A turnaround story?🛎
Shares of Nikola is perhaps receiving some support as the company is making the production of its Tre- a battery-electric commercial truck. This could be good news for investors after a series of a poor moves by the founder and poor execution of its plan for the past years.
The announcement came ahead of its investor day as it focused on delivering vehicles and generating revenue streams with the fundamental idea of providing energy infrastructure for the future.
Pika World will be cautious of any significant accumulation on the counter.
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All is well.