Tesco Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Tesco (NAS: TESO) jumped as much as 11% today as oil prices rose.
So what: Oil is up 4.3% as of this writing on concerns over Iran's threats to close the Strait of Hormuz and on economic hopes. A rising market has helped stocks, but investors are at least concerned that Iran will do something drastic.
Now what: The experts are saying that Iran is bluffing, and considering that closing the Strait of Hormuz would hurt China more than the U.S. I doubt Iran will do it. But Iran has been posturing for days now with no signs of backing down. In the meantime, oil keeps going up, pushing oil-related stocks along with it.
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At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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