Top 7 Consumer Goods Companies Analysts Love

The consumer goods field is a cutthroat, competitive one as players have to juggle long-term business growth with short-term shareholder value. Nevertheless, analysts are touting these key consumer goods companies that are on the rise!

By clicking the link above you will automatically opt-in to receive emails from SystemTrading

U.S. gas prices have fallen or remained steady for 10 weeks straight. Here's why

WYATTE GRANTHAM-PHILIPS
November 28, 2023

NEW YORK (AP) -- It's not just you. Across the U.S., prices at the pump have felt milder in recent months.

Gas prices have fallen or remained steady since September 19 -- marking about a 70-day trajectory of decline, Andrew Gross, spokesperson for motor club AAA, told The Associated Press Tuesday.

As of Tuesday, the national average for gas prices stood just below $3.25 according to AAA. That's down 25 cents from a month ago and 30 cents less than this time last year. Experts point to a recent decline in oil prices and a seasonal dip in demand, as well as easing inflation.

"Every penny decline in the national average saves motorists almost $38 million," said Patrick De Haan, head of petroleum analysis at GasBuddy. "If you amplify that times 30 cents, we're talking about Americans that are spending hundreds of millions less on gasoline today than they were a year ago."

Despite the drop, the global energy market can be volatile and lower gas prices down the road aren't promised. Here's what you need to know.

WHY ARE GAS PRICES FALLING?

A few factors contribute to today's gas prices, but a big explanation behind the decline is seasonality. In other words, prices at the pump almost always soothe some at this time of year.

For starters, there's a switch to winter blend gasoline -- which is cheaper to produce than the summer blend, De Haan notes. And, despite some upticks around the holidays, shorter days make hitting the road less enticing in the colder months.

"It's dark and the weather is kind of crummy, and people just want to stay home," Gross said. "Demand is a lot less (in the) fall and winter."

On top of the seasonal cycle, inflation, while down from last year, is still high and continues to undercut Americans' spending habits -- which could also be contributing to today's lower demand, De Haan added.

Beyond demand, experts also point to declining oil costs. Prices at the pump are highly dependent on crude oil, which is the main ingredient in gasoline. West Texas Intermediate crude, the U.S. benchmark, has stayed in the high-to-mid $70s for the past three weeks -- standing at about $76 a barrel as of Tuesday afternoon, down from over $82 a month ago.

Oil is a global commodity, so events impacting production and supply such as the Russia-Ukraine war can be felt domestically. There's also been a notable uptick in U.S. production that is "helping to keep a lid on prices" today, De Haan said.

At the start of October, American oil production hit an all-time high of 13.2 million barrels per day, passing the previous record set in early 2020 by 100,000 barrels. Average production has since remained at that level, according to the government's latest data through the week of Nov. 17.

COULD GAS PRICES CHANGE COURSE AND GO UP AGAIN SOON?

While the downward trend in gas prices is expected to continue at least into the New Year, anything's possible. Some experts point to the potential of more cuts from major producing OPEC+ countries -- which boosted energy prices in the past.

Earlier this year, Saudi Arabia and Russia notably extended their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market. Some speculate that OPEC+ could announce further cuts in an upcoming meeting, which was reportedly postponed until Thursday.

Still, the meeting delay signals that there may be disagreements within OPEC+, so it's "going to be a wildcard to watch," De Haan said. If a surprise announcement does arrive, it's hard to predict the impact -- but consequences could also be brief or minimal, Gross added, especially if the market is already anticipating more cuts.

Among today's global backdrop is also the Israel-Hamas war. The breakout of violence initially slowed the fall in oil prices, but that progressively changed, Gross said -- noting the war has not expanded to large oil producing countries in the Middle East. Still, the future remains uncertain.

"Given how volatile the oil market is...I would keep an eye on what's going on overseas, not just in terms of this war, but in other economies," Gross said, adding that shifts in oil prices can be very headline-driven for news impacting major markets around the world.

WHAT STATES HAVE THE LOWEST GAS PRICES TODAY?

While gas prices nationwide are collectively falling, some states, of course, always have cheaper averages than others -- due to factors ranging from nearby refinery supply to local fuel requirements.

As of Tuesday, according to AAA, 15 states in the U.S. had gas prices below $3 -- with Texas ($2.71), Mississippi ($2.76) and Georgia ($2.79) at the lowest.

Meanwhile, the states with the highest prices at the pump were led by California ($4.88), Hawaii ($4.72) and Washington ($4.34).

Continue Reading...

Popular

Why Bitcoin Cash And Ethereum Classic Are Falling

Bitcoin Cash (CRYPTO: BCH) and Ethereum Classic (CRYPTO: ETC) are trading lower by 3.5% to $308.14 and 4.7% to $29.72 Thursday afternoon.

Some doorbell cameras sold on Amazon and other online sites have major security flaws, report says

NEW YORK (AP) — Some doorbell cameras sold by Amazon and other online retailers have security flaws that could allow bad actors to view footage from the devices or control them completely, according to an investigation published Thursday by Consumer Reports.

IRS Planning to Raid Your Retirement? - Ad

The government's new tax plan could slash your retirement savings, and traditional retirement strategies may no longer be able to shield your IRA or 401(k). An overlooked IRS loophole offers a legal way to protect your nest egg. Learn how to keep your retirement dream intact with this 100% free report.

A Brazilian state in the Amazon has been hit with more than 2,000 fires in February

RIO DE JANEIRO (AP) — The Brazilian state of Roraima in the Amazon rainforest has been hit with more than 2,000 fires in February, according to data released Thursday by the state space agency.

Trump's Immunity Claim To Be Examined By Supreme Court: A Game Changer For 2024 Elections?

In a historic move, the U.S. Supreme Court has agreed to hear a case concerning former President Donald Trump’s claim of criminal immunity, a decision that could significantly impact his attempts to overturn the 2020 election loss.

Free Report: IRS Loophole Saves US Retirees - Ad

As tax season approaches, many Americans preparing for retirement are nervous about Biden's proposed tax reforms that are targeting high worth individuals. But this IRS Loophole Report offers safety and potentially even opportunity to grow your nest egg.

One Tech Tip: Don't use rice for your device. Here's how to dry out your smartphone

LONDON (AP) — You were walking next to a swimming pool when you slipped and dropped your phone into the water. Or it slipped out of your hand when you were next to a filled bathtub or toilet.

The jobs market is hot, but layoffs keep coming in a shifting economic environment

The U.S. economy is humming and there are hundreds of thousands of jobs being added every month. In a stunning burst of hiring to start the year, the nation added 353,000 jobs in January....

My No. 1 Oil Play for 2024 - Ad

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

Harris will tout apprenticeships in a swing state visit to Wisconsin

MADISON, Wis. (AP) — Vice President Kamala Harris plans to return to the swing state of Wisconsin next week for an event touting worker apprenticeship programs, the White House announced Thursday.

A large US health care tech company was hacked. It's leading to billing delays and security concerns

Health care providers across the country are reeling from a cyberattack on a massive U.S. health care technology company that has threatened the security of patients’ information and is delaying some prescriptions and paychecks for medical workers.

PROOF: New One Ticker (Weekly) Payouts - Ad

A multimillionaire stock trader's research explains how focusing on just one ticker every week has generated payouts up to a rare 2,614% in under 11 days... AND he's brought proof to show the world!

Musk, Dalio and Cuban Are Loading Up on This One Coin - Ad

Mark Cuban proclaimed this coin "will dwarf Bitcoin." And Elon Musk made sure it was one of the only three coins he owns. It's called the Next Gen Coin... As this presentation explains, this coin has the ability to "power the rails of global finance"... a $100 trillion industry.

Will the Reddit IPO Turn Into the Next Meme Stock?

Reddit IPO is around the corner. Here are a few reasons why we think this could turn into the biggest meme stock around.

Conservatives Reveal Two Preferred Candidates For Donald Trump's Running Mate At CPAC

At the 2024 Conservative Political Action Conference (CPAC) on Saturday, attendees showed equal interest in two particular vice presidential candidates for former President Donald Trump as he gears up for the p

New Trump Bombshell - Ad

The Freeport Society and Louis Navellier have just issued a shocking election prediction for 2024. I believe Donald J. Trump will go down as America's last Republican president. But NOT for the reasons you may think...

This Analyst With 87% Accuracy Rate Sees More Than 14% Upside In Nvidia - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts

U.S. stocks closed mixed on Friday, while the Dow Jones index gaining more than 50 points during the session. All three major indices recorded gains last week, with the S&P 500 gaining around 1.7% and the Dow adding 1.3% for the week.

Holding NVDA? Read This Now - Ad

NVDA is likely not the best buy for A.I. investors. 50-year Wall Street veteran Marc Chaikin reveals what to buy instead.

Putin Rival Alexei Navalny Had This Message Ready For The Russian Public In The Event Of His Untimely Death

On Friday, Alexei Navalny, a staunch critic of the Kremlin and President Vladimir Putin, died while incarcerated in Russia, as confirmed by Russian authorities.

Mark Cuban Thinks Elon Musk's Grok Chatbot Is Right Leaning, While Google's Gemini Is Left Leaning: 'Can Big Tech Actually Field Generative AI'

Billionaire Mark Cuban suggests Elon Musk's xAI's Grok leans "right," while Google's Gemini tends "left," amidst a broader debate on AI models' biases and implications, fueled by concerns raised by Marc Andreessen about big tech's ability to develop generative AI products.

The Next Great Crypto Bull Market Has Begun... - Ad

The last of three historically bullish crypto events is expected to happen around April 14. It's only the fourth time in crypto history. The last time, in 2020, certain altcoins exploded. Some as high as 531,735% or even a 953,018% gain. A tiny $100 investment would have returned just short of a million dollars.

$1000 Invested In Netflix 15 Years Ago Would Be Worth This Much Today

Netflix (NASDAQ:NFLX) has outperformed the market over the past 15 years by 22.96% on an annualized basis producing an average annual return of 37.07%.

Why Banks Could See a "Cash Frenzy" on March 11 - Ad

He called the Lehman Brothers collapse in 2008... the Bitcoin crash in 2018... and the inflation crisis of 2022. Now, he's warning that the 2023 banking crisis is not over yet. Instead, we could see a cash frenzy at banks as soon as March 11. Do NOT buy another stock until you see his newest presentation.

Big-Time Bitcoin Bull Michael Saylor Encourages Followers To Keep Stacking Coins But 'Stay Humble'

Michael Saylor, CEO of MicroStrategy Inc. (NASDAQ:MSTR), posted a message on X, formerly Twitter, on Wednesday, encouraging Bitcoin (CRYPTO: BTC) holders to “Stay Humble. Stack Sats.”

A collection of the insights Warren Buffett offered in his annual letter Saturday

Billionaire Warren Buffett is known as one of the world's greatest investors, and the 93-year-old has a devout following of people who admire his track record and appreciate his sage advice on life and investing.

Why Gold Is Headed Above $3,000 - Ad

Many experts believe gold is headed to $3,000/oz. or even higher. As this rally picks up... most investors will likely run out and buy an ETF, a gold mining stock, or even bullion. But there's actually a much better way to profit from the emerging gold boom (with just $5.)

Amazon, Royal Caribbean Cruises And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by around 0.2% on Thursday. Investors, meanwhile, focused on some notable insider trades.

NYC’s plan to ease gridlock and pump billions into mass transit? A $15 toll for Manhattan drivers

NEW YORK (AP) — Between bridge and tunnel tolls, parking fees and the ever-present risk of getting a traffic ticket, it can already cost a mint to drive into Manhattan.

Nvidia Sparks $100 Billion Sales Surge for A.I. Supplier? - Ad

You better move fast... Because according to Barrons... Nvidia's little-known supplier is set for a $100 BILLLION sales explosion... ...and it's thanks in part to this mysterious device. According to our research, this $100 billion sales boom could even turn this little-known supplier... ...into the the next trillion-dollar stock.

UK PM Backs Plan To Divert Billions From Frozen Russian Assets To Aid Ukraine: 'We Must Be Bolder With Our Military Support'

UK Prime Minister Rishi Sunak has voiced his support for the proposal to send billions of pounds in interest from frozen Russian assets to Ukraine. This announcement was made during the commemoration of the second anniversary of the Russian invasion of Ukraine.

Fundrise CEO Predicts Coastal Real Estate Markets Are Going To Start Declining

The real estate market is expected to undergo rampant changes as the macroeconomic and geological factors pile on. One of the most significant changes is the declining demand for coastal real estate as the climate change concerns amp up.

Don't Buy NVDA Without Seeing This - Ad

Are you holding America's 2nd most popular stock? It could hurt your portfolio.

Trump Goes After 'Crooked' Judge And 'Totally Corrupt' Attorney General After $355M Fine And 3-Year Ban In New York Civil Fraud Ruling: 'Witch Hunt'

Donald Trump criticizes a New York State judge's ruling imposing a $355 million fine and a three-year ban on company leadership, labeling it as "unAmerican" and part of a broader "witch hunt" against him.

Jim Cramer Tells Investors To 'Do The Homework' And Look Beyond Earnings Figures: '...Causing People To Make Snap Judgments'

CNBC's Jim Cramer has advised investors to look beyond the numbers in financial reports, saying that the current method of reporting is leading to false judgments.

The REAL Reason Americans Keep Falling Behind - Ad

In 2023, we saw waves of bank collapses, emergency bailouts, and Treasury bond crashes. Yet big banks are celebrating record earnings in 2024... as more and more ordinary folks struggle to make ends meet every day. The 24-year market veteran who called the Lehman Brothers collapse in 2008 reveals why.

Porch Group And 2 Other Stocks Under $3 Insiders Are Buying

The Dow Jones index closed lower by more than 50 points on Friday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service