📑Oil Prices Tell the Story the Headlines Won’t

Good morning. The banking fears in the market won’t last long. Last weekend saw the announcement... 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. [Trading Tips] Good morning. The banking fears in the market won’t last long. Last weekend saw the announcement that depositors will be protected well beyond the FDIC’s prior $250,000 cap. And while some banks may need capital in the coming weeks, further bank runs are unlikely as long as depositors can get to their money. While all that may be true, these bank failures may be a sign of a recession. The story isn’t in the headlines yet. But it may be in oil prices. That’s because it’s the commodity that powers the world – and it’s sliding to new 52-week lows. Crude oil dropped under $67.50 in trading yesterday, and could end up being down 50 percent from last year’s high of $120 soon. It may be time for investors and traders in the energy space to take some profits, free up cash, and look for better long-side opportunities elsewhere, as last year’s winning sector now looks poised to drop further. Now here's the rest of the news: Sponsored Content [Musk’s new tech could 10x your money]( A short time ago, SpaceX reported Starlink was serving 10,000+ users in the U.S. and abroad. But today, that number has SKYROCKETED to almost 100,000 users. Incredible, right? Unfortunately, Starlink is a private company… which means retail investors have been locked out of investing in its spectacular growth. Until now. After months of research, I’ve uncovered a [“backdoor investment”]( into Starlink with 10x your money potential! [Click here for the full story now.]( MARKETS DOW 31,874.57 -0.87% S&P 3,891.93 -0.70% NASDAQ 11,434.05 +0.05% *As of market close • Markets sank on Wednesday, but closed near highs of the day, with the Nasdaq logging a gain. • Oil slid 4.4 percent, last going for $68.17 per barrel. • Gold rallied 0.7 percent, ending at $1,923 per ounce. • Cryptocurrencies moved lower, with bitcoin at $24,349 at the stock market close. Today’s TOP TIPS [For Turbulent Markets, Seek Out Boring Companies]( Market volatility is back. That means that companies can expect their share price to see sizeable swings by the day. As markets get turbulent, investors should look for companies that can continue to grow no matter what the economy does. Many gravitate towards income stocks. But a high payout along isn’t enough. Stability, rather than the potential for big growth, may win out in the market in the months ahead. » [FULL STORY]( [Insider Trading Report: PacWest Bancorp (PACW)]( Christopher Blake, President and CEO at PacWest Bancorp (PACW), recently bought 6,660 shares. The buy increased his holdings by 3 percent, and came to a total cost just over $118,000. He was joined by the company’s COO, who bought 3,148 shares for the price of $48,000. And a company director bought 25,000 shares, at a cost of $383,250. Other company insiders have been buyers in the past week as well, as shares of the regional bank have taken a big dive. » [FULL STORY]( [Unusual Options Activity: SL Green Realty (SLG)]( Office real estate investment trust SL Green Realty (SLG) has seen shares slide by nearly two-thirds in the past year. One trader sees a further decline in the weeks ahead. That’s based on the May $22.50 puts. With 64 days until expiration, 9,147 contracts traded compared to a prior open interest of 22, for a 41-fold rise in volume on the trade. The buyer of the puts paid $1.45 to make the downside bet. » [FULL STORY]( IN OTHER NEWS • [Wholesale and Retail Prices Show a Surprise Decline]( The producer price index showed a drop of 0.1 percent for February. The reading was a surprise, given expectations for a 0.3 percent increase. Retail sales also came in lower for 0.4 percent for February, with lower auto sales and bar and restaurant receipts driving the move. • [Gas Bills to Remain High Amid Supply Challenges]( While energy prices have been moving lower overall, many companies reliant on natural gas have seen prices make big moves. 2022 was the most volatile year on record for the commodity since the deregulated days of the 1990s, with 44 days having a move of 7 percent or more. • [Argentina’s Inflation Hits Triple-Digits]( The inflation rate in Argentina hit a 102.5 percent year-over-year increase for February, making it the highest rate in the world. The country last had triple-digit inflation in 1991. The country is moving to curb inflation by subsidizing foreign exchange rates. • [Foxconn to Expand into US Electric Vehicle Market]( Foxconn, a company best known for supplying parts for the Apple (AAPL) iPhone, has released plans to expand into the electric vehicle market in the United States. The move comes as the company see softening demand for consumer electronics. To start in the EV space, Foxconn will manufacture battery cells. • [T-Mobile Makes $1.35 Billion Offer for Mint Mobile]( Telecom giant T-Mobile (TMUS) is acquiring budget wireless provider Ka’ena Corporation, owner of Mint Mobile and Ultra Mobile. The deal is valued at up to $1.35 billion depending on final performance metrics, with the offer of 39 percent cash and 61 percent stock. The deal is expected to closer later this year. S&P 500 MOVERS TOP SCHW 4.817% SIRI 3.561% VFC 2.58% NEM 2.507% NFLX 2.506% BOTTOM FRC 20.954% STLD 12.8% HAL 9.515% MRO 9.277% SLB 8.874% Quote of the Day It’s a sigh-of-relief rally, we’ll call it, given the lack of any major surprises in CPI and then just the lack of any surprises overnight in the banking space. The market’s welcoming that. - Adam Turnquist, chief technical strategist at LPL Financial, on the market’s recent rally which has partially reversed last week’s sharp losses, particularly in the banking sector. Sponsored Content [Musk’s new tech could 10x your money]( A short time ago, SpaceX reported Starlink was serving 10,000+ users in the U.S. and abroad. But today, that number has SKYROCKETED to almost 100,000 users. Incredible, right? Unfortunately, Starlink is a private company… which means retail investors have been locked out of investing in its spectacular growth. Until now. After months of research, I’ve uncovered a [“backdoor investment”]( into Starlink with 10x your money potential! [Click here for the full story now.]( Not sure the best way to get started? 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