Fresh off our Saratoga client event, Todd joined the PreMarket Prep crew this morning for a wide-ranging conversation on energy, interest rates, and the broader market setup.
A big part of the discussion focuses on what is actually driving the strength in energy stocks. Todd digs into diesel crack spreads and the CRAK ETF, explains why the refiners have been such strong performers, and looks at a potential divergence developing in the energy markets. He also walks through why ConocoPhillips (COP) has caught his attention as crude oil pushes higher, before moving into real yields, Fed policy, gold, technology, and the long-term setup in the S&P 500.