Oil and gas stocks have been on a two-year tear, ripping ahead as natural gas prices surged due to supply chain kinks, a strong economy, and Russia’s invasion of Ukraine. Fears of a recession are now slamming on the brakes. What’s happening: Brutally high oil and gas prices were the talk of the town last year and one of the largest contributing factors to sky-high inflation.
Chevron is expected to report earnings of $3.38 per share. Blackstone is feeling the commercial real estate slump The ongoing commercial real estate slowdown has a new victim: Blackstone. The investment firm is the largest owner of commercial real estate globally. Its distributable earnings — the profit handed to shareholders after expenses — plunged 36% since last year. That’s raising eyebrows on Wall Street as investors assess the fallout from last month’s regional banking crisis.
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