Diamonds and Dogs

10/3/24

U.S. crude is up 5%, bringing its week-to-date advance to more than 7% based on fears in the Middle East. Energy stocks have rallied in tandem with Marathon Petroleum up 5% and Diamondback Energy up 4%. The sector is on pace for its best week in more than a year.

Jean company gets hit by the port strike. Levi is down 7% even as they beat earnings by 2 cents, but sales missed. The company also lowered full year 2024 revenue guidance while looking for alternatives to their Dockers brand. On top of that, the port strike in the East coast could start to effect business as soon as December.

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