Bellevue Perspectives


Monday Minute

Pipe
  • Stocks traded sideways last week on a mix bag of Q1 earnings releases, and that trend continues today as the equity markets are only slightly changed.  Roughly 1/3 of the S&P 500 companies report their earnings this week however, which should push the markets out of their current trading range.  Oil stocks are one sector doing well in today’s trading as the U.S. plans to end all waivers on Iranian crude oil imports May 1st, which could lead to a supply crunch.  Eight major buyers were granted waivers back in November of 2018 when sanctions were imposed.   https://www.reuters.com/article/us-usa-iran-oil/u-s-to-end-all-waivers-on-iran-oil-imports-crude-price-jumps-idUSKCN1RX0R1

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