Goldman Sachs analysts predict oil prices will reach $100 per barrel, which could lead to higher gas prices for consumers but is not anticipated to be too much cause for concern. Yahoo Finance Markets Reporter Ines Ferre examines how crude oil prices will be "manageable", according to the analyst note, in comparison to previous price hikes in 2008 and early 2021. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Energy stocks are pushing market indices higher in Monday's trading session as oil prices remain elevated. Mahoney Asset Management CEO Ken Mahoney shares some of his latest stock trades and sales, endorsing Exxon Mobil (XOM) and McDonald's (MCD), while advising against buying into Macy's (M) or small cap stocks from the Russell 2000 (^RUT). "For investors, they kind of know the downside, something like $70 a barrel," Mahoney says on Exxon. "I think it's a good way to invest outside of tech as a way to get a decent dividend, more of a value play, and hopefully there is that clip... in the low $70s." "Then you look at Macy's: the entire year they do about $25 billion in revenue," Mahoney compares Macy's sales to Amazon's (AMZN) Prime Day success. "So basically one day in Amazon is about six months of buys and sells of Macy's. I think it's a pretty big difference."For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
ASOS shares were up nearly 1% despite warning profit would be at the low-end of expectations.