Brian Stewart

Yeah, I mean, that's the other side of the trade, right?

So you saw tech up as the kind of risk on trade comes back and you saw oil drop.

prices down and then the oil stocks down as well.

So ExxonMobil was down about 5% over the past week.

You see Chevron down about 6%.

However, you have to kind of put that in context.

ExxonMobil is still up 54% over the past year.

I think it's up a little bit more than 20% for the

year to date um chevron showing a similar pattern up 41 over the past year uh crude oil dropped uh 15 on wednesday with the ceasefire coming out a little bit more than that um but it's still trading around 98 um it was at roughly 57 um as we started the year so um still up about 70 percent

year to date.

So we're far from returning to where normal was as we started the year.

We had the inflation data come out today.

The CPI came out.

It showed a significant rise in energy prices.

Energy prices were up about 11% from

February to March, and that was thanks to about a 21% increase in gasoline prices.

But overall, the inflation data was high, but not enough to really sour the market.

So on a headline basis, CPI was up about 3.3% from last year.

If we look at the core, it was up 2.6%.

3.3%, even with all the higher energy prices, isn't that far off of what we've been seeing lately anyway.