
Phillips 66 stunned the market with an unexpected first-quarter adjusted profit on Wednesday, pushing its stock up more than 6% by mid-day. The Houston refiner logged adjusted earnings at 49 cents per share, trouncing an average analyst forecast of a 40-cent loss, according to LSEG data cited by Reuters.
Today’s highest-ranked model selections.
The catalysts most likely to move markets.
A large surprise can reset expectations for household spending and near-term growth, with read-through to Treasuries, USD and cyclical stocks.
Housing remains highly rate-sensitive; the print can move homebuilders, mortgage-sensitive names and the long end of the Treasury curve.
Guidance can influence software multiples and sentiment around U.S. small-business activity.