Planning any road trips this summer?
Keep an eye on gasoline prices, as their movement usually aligns with shifts in the price of oil, which continued to rise this week. The recent surge may have been caused in part by President Trump’s announcement on Tuesday that the U.S. would exit the Iran nuclear deal and restore sanctions.
The 2015 Iran nuclear agreement lifted sanctions on Iran that had previously devastated its economy and cut its oil exports nearly in half. Iran agreed to limit its nuclear programs and allow inspectors into its facilities in exchange for the sanctions being lifted. Trump’s recent announcements have put those sanctions back into place and the administration has indicated it is even considering new penalties. This could theoretically constrain global oil supply, in turn driving oil prices up.
Don’t let that dampen your plans
Experts from the Oil Price Information Service (OPIS), a company providing pricing and news information for petroleum, anticipate that the average American family will spend about $200 more this summer driving season. This may leave some rethinking vacation plans or looking for last minute vacation deals. 🏖️
There is still plenty of time to start budgeting for the anticipated rise in oil prices by utilizing the spending tracker tools available to you in connection with your MoneyLion Plus membership. As a Plus member, you also have access to a $500 5.99% APR loan to cover unplanned expenses. We’ve got you.
Bad news for the pump, but potentially good news for the market
This may be bad news for your gas tanks, but it may be good news for your investment portfolios. U.S. stocks have been on the rise, with a recent seven-day increase for the Dow Jones Industrial Average (DJIA) as of Friday May 11, marking its longest win streak since early October. Nasdaq also enjoyed six straight days of victories as of Thursday, May 10, which marked its longest period of increasing market cap since a seven-day stretch that ended in mid-March.
Although we can never guarantee how the market will perform, by continuing to invest some of your monthly savings into your MoneyLion Plus managed investment account, we believe that you’re in a good position to potentially profit from the recent uptrend in the stock market.
Not a MoneyLion Plus member?
Whatever your vacation plans are this summer, MoneyLion Plus can help you get there. MoneyLion Plus (learn more: online | mobile) is a first-of-its-kind membership that gives you a 5.99% APR loan whenever you need it, a guided investment account, and access to $1 daily cashback opportunities. Good credit is not required, and you’ll get $10 when you sign up.
MoneyLion Plus general disclosure: MoneyLion Plus membership required. View full terms and conditions here.
MoneyLion Plus investment account: * Not FDIC Insured or Bank Guaranteed * May Lose Value. The guided investment account is subject to risks, including but not limited to the loss of principal. Not bank or FDIC insured. This advertisement should not be construed as a recommendation regarding the suitability of purchasing a particular security or securities in general.