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Oil rebounds over $100 a barrel, OPEC+ expected to stick to output release

In this article:
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Yahoo Finance's Ines Ferre joins the Live show to break down how oil and commodity markets are moving in early trading.

Video Transcript

BRIAN SOZZI: Let's get over to Yahoo Finance's Ines Ferre with a look at the markets. Ines. INES FERRE: And Brian, taking a look at the oil markets right now, we are seeing WTI rebounding up more than 3 and 1/2%. Brent crude is also higher. A couple of reasons because of this. Yesterday, you will recall that oil was falling, the day before as well. Well, there's skepticism now that Russia will reduce its troops around some Ukrainian cities. There's also some reports of possible new sanctions against Russia from the EU. I just want to show you a one-month chart. So you can see WTI, except for right here, around March 14, 15 area, you can see that WTI has, for the month of March, mostly remained above $100 a barrel. Taking a look at the equities market right now, we are looking at the sector action, and we're seeing that energy is leading. And you've got also healthcare industrials that's leading as well, or outperforming, I should say. Over on the NASDAQ, we're watching the mega caps that are down slightly. I do want to mention what's happening with the meme stocks because we have been watching these throughout the last few sessions. AMC down more than 4%. You've got also Robinhood down 7%. Not particularly a meme stock per se, but sort of a proxy. Robinhood yesterday was up around 25% intraday, after announcing it's extending its trading hours. And then finally, I also want to mention what's happening with one stock that is seeing new all-time highs, and that is Costco. Costco up almost 1%. Its previous high was back in December 29, reaching new highs today. Brian. BRIAN SOZZI: I'm looking for a tie-in with Lululemon there, Ines, and I really just don't have one. But I appreciate you shouting out Costco. Ines, thanks so much.