Miller Tabak Managing Director and Equity Strategist Matt Maley joins Yahoo Finance Live to discuss stock futures, inflation, the impact of Fed Mester’s 75 bps hike proposal, and the outlook for the broader market.
China and Saudi Arabia have announced a new energy megaproject, a sign of the strengthening alliance between the two energy powerhouses
Shares of Occidental Petroleum (NYSE: OXY), Devon Energy (NYSE: DVN), and Phillips 66 (NYSE: PSX) fell hard on Wednesday, down 4.3%, 6.1%, and 4.6%, respectively. Although oil prices were trading higher in the morning, they fell by the late afternoon, down around 2% as of this writing. It appears today was a day of recession fears, as first-quarter U.S. GDP figures were revised downward, and Fed Chair Jay Powell reiterated his hawkish posture at a conference in Europe.