Oil Prices Surge, Posing Challenges for Markets and Inflation.

OPEC+ announced a surprise oil production cut of around 1.16 million barrels per day, which could increase oil prices to $100 per barrel; WTI Crude futures jumped 4.44% to $79.03. February's personal consumption expenditure price index, excluding food and energy, rose 0.3% for the month. Tesla delivered 422,875 vehicles in the first quarter of the year, a 36% YoY increase. Markets posted strong gains in March, but the sudden spike in oil prices and the March jobs report will put April's trend to the test. Tech stocks benefit the most from lower interest rates, and investors are hoping for a strong April.