Today is Monday, March 20, 2023.
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Oil & Gas Stock Picks in 2023
Details: Hill sees the demand for energy increasing in 2023. In addition to energy’s place in transportation, many industries depend on it and demand for gas exploration is increasing in Europe.
Why Now: The price of energy can only go higher and there is a floor in those prices, according to Hill, because the U.S. government is buying oil for the strategic petroleum reserve.
Going Individual: While there are exchange-traded funds (ETFs) and mutual funds that track the entire sector, Hill says that individual stocks are a good play because those companies are focused on a specific area in the sector.
Final Thoughts: Why does Hill prefer small-cap stocks in the oil and gas industry? What advice does he have for individual investors when it comes to picking stocks in this space? Find out by listening to a new episode of the Early Bird podcast.
Notable Earnings Today: PDD Holdings (Nasdaq: PDD), Foot Locker (NYSE: FL), Sanara MedTech (Nasdaq: SMTI), Niu Technologies (Nasdaq: NIU), Exagen (Nasdaq: XGN), DouYu International Holdings (Nasdaq: DOYU), RVl Pharmaceuticals (Nasdaq: RVLP), Lantern Pharma (Nasdaq: LTRN).
Notable IPOs Today: N/A.
Notable Equity Crowdfunding Campaigns Ending Today: Lambs (Republic), SampleServe (StartEngine), Eva Medtec (StartEngine), A Taylored Experience (Honeycomb), Calibre Biometrics (StartEngine), LEXI (Republic), Innovative Recordings (SMBX), Lunar Hard Seltzer (Republic), StrandSmart (StartEngine).
Notable Economic Events Today: N/A.
UBS Steps in to Buy Credit Suisse
Photo by Claudio Schwarz / Unsplash
Credit Suisse Group (NYSE; CS) is finally getting rescued as UBS Group (NYSE: UBS) agreed to buy the troubled bank on Sunday.
Details: The deal calls for Credit Suisse shareholders to receive 1 UBS share for every 22.48 Credit Suisse shares held.
Background: Credit Suisse has faced a major liquidity crunch as of late and there’s a real fear that it could have collapsed like other recent banks.
Final Thoughts: Shares of UBS are down 4% so far in 2023. The financial sector is still volatile, but this acquisition may help stabilize it a bit.
Bitcoin’s 2023 Comeback, Explained
After a terrible 2022, Bitcoin is in the middle of staging a comeback in 2023.
Numbers: Bitcoin is up by 68% so far in 2023, including a nearly 30% jump in the last week.
Comparing: So far in 2023, the S&P 500 is up by 2%, the Nasdaq is up by 11%, and the Dow Jones Industrial Average is down by 3%.
Powering the Story: As of late, Bitcoin and other cryptocurrencies are growing in part to the decline of banks. As financial institutions take a hit, some investors trust Bitcoin more than cash.
But: Bitcoin is still down since the end of 2021 and its future is in question due to potential regulations that might come.
Final Thoughts: Bitcoin is still seen as a risky asset by some. As the old saying goes: high risk, high reward.
Trends to Watch
Right Direction: U.S. bank deposit outflows, unrelated to Credit Suisse, have stabilized, U.S. official says (Reuters)
More Gains: These 5 cryptocurrencies may continue to surprise to the upside (Cointelegraph)
Lesser-Known Sibling: TikTok’s Chinese Parent Has Another Wildly Popular App in the U.S. (The Wall Street Journal)
Keep it Going: Federal Reserve and Global Central Banks Act to Shore Up Dollar Access (The New York Times)
What’s Next: FDIC Moves Toward Breakup Plan for Silicon Valley Bank (Bloomberg)
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