Bank stocks rise, commodity prices plunge

Stocks on the Rise, Commodities on the Slide

While inflation is cooling off and production is humming along at a steadier pace, the markets are still as tumble‑dumpy as ever.

Wall Street’s Bright Spots

Bank of America – The stock jumped after a hot jobs report that hinted at the peak of interest rates. The buzz even lifted other banking names.
Goldman Sachs – Shares rose as bonds become a more attractive home for investors. Lower inflation means bonds feel more valuable because they promise less future income.
Groupon – The coupon giant’s price is soaring. As shoppers tighten their wallets, discount hunting becomes a popular strategy, driving up demand for Groupon’s deals.

Groupon’s gains are no joke: up almost 60% YTD and 107% in 2023, analysts predict another 5.2% boost over the coming year.

Drops & Declines

Cotton – In a surprising twist, the fiber that feeds into clothes and commodity contracts is down. Pakistani production surged by 82% YoY, delivering 6.8 million bales to ginners, far outpacing demand.
Brent & Crude Oil – Prices slipped last week to about $89 and $84 a barrel respectively, even as the Middle East wears out its nerves. The global economy’s confidence is shaky, especially in Europe, causing oil demand to quiet down.

Despite the high‑stakes tensions, the price of crude is expected to keep dancing in 2023. Keep an eye on the roller coaster—there’s still plenty of volatility to ride.