Markets Rally Despite OPEC Production Cuts (9/6/22)

(9/6/22) Markets are set to open higher after lwast week's sell-off, under pressure from Fed head Jerome Powell's post-Jackson Hole speech, suggesting more rate hikes, more aggressively, are still to come. Markets tried to challenge that, until Russia threw a wrench into the works, announcing a cut off of natural gas to Europe. This morning's futures are looking higher, seeking a bit of a rally as markets remain over-sold. Continue to use these rallies to sell into to reduce portfolio risk. Meanwhile, OPEC announced over the weekend a cut in production, proving the half-life of a Biden fist bump is about one month. The cut is no surprise, as oil prices have been under pressure, and OPEC likes those prices kept high. A rally to $95 or $98/bbl would not be surprising, and would create a decent sell point for investors. As the Fed continues to hike rates, demand will weaken, keeping oil prices in a downward trend, despite the production cuts. Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO Produced by Brent Clanton -------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- Watch the video version of this report by subscribing to our YouTube channel: https://www.youtube.com/watch?v=93RNDdSzkqI&list=PLVT8LcWPeAujOhIFDH3jRhuLDpscQaq16&index=1 ------- Visit our Site: www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to RIA Pro: https://riapro.net/home -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #InvestingAdvice #OPEC #OilPrices #FederalReserve #Markets #Money #Investing