US is vulnerable, Biden admin 'misused' the Strategic Petroleum Reserve: Phil Flynn | Fox Business Video

Phil Flynn, a contributor to Fox Business, discussed the vulnerabilities of the U.S. due to rising oil prices linked to tensions in the Middle East. He criticized the Biden administration for what he termed a misuse of the Strategic Petroleum Reserve (SPR), suggesting that the administration's actions have left the country exposed to oil supply shocks. Flynn underscored the potential consequences for consumers and markets as oil prices continue to rise.

Read full article

Stock Forecasts

AI prediction results, not representative of any investment advice.

XLE View XLE chart on TradingView

Positive

Given the rising oil prices and geopolitical tensions, oil companies may see increased revenues. This reflects positively on their stocks. However, there may be concerns about overall economic stability impacting consumer spending.

SPY View SPY chart on TradingView

Negative

As oil prices rise, inflation concerns could impact consumer spending and economic growth. This may negatively influence the broader markets such as the S&P 500 index as consumer confidence could be affected.

Related News

Inflation is not ‘dead at all’ despite ‘coming down’: Hoenig | Fox Business Video

Capitalist Pig hedge fund manager Jonathan Hoenig weighs in on market rallies, his concern for everyday Americans amid inflation, and his stock pick.

SPY

Jamie Dimon warns of 'critical issues' that could affect US economy

Oct 11, 2024, 12:25 PM

JPMorgan Chase & Co. chief Jamie Dimon on Friday sounded the alarm about "critical risks" to the U.S. economy in the bank's third quarter earnings report.

SPY

Idea that Fed has managed this soft landing 'is starting to take hold': Kenny Polcari | Fox Business Video

Slatestone Wealth Chief Market Strategist Kenny Polcari discusses the market rallying following the inflation report, Jamie Dimon's warning of geopolitical risks, and how he fared during Hurricane Milton.

SPY

TLT