As we all know by now, the United States Gasoline Fund (NYSEARCA:UGA) has soared higher since December 19, 2012. At that time, the UGA was trading around the $45.50 level. Earlier this week, the UGA hit a new 52 week high at $57.22 a share before pulling back slightly. This morning, the UGA is trading higher by 0.46 cents to $55.95 a share. Traders and investors have to wonder if the high energy prices will start to affect the economic spending habits of consumers. Normally, high energy prices will have a negative effect on consumers spending and the restaurant stocks can be some of the first stocks to be affected.
Yum Brands Inc (NYSE:YUM), Chipotle Mexican Grill Inc (NYSE:CMG), Panera Bread Co (NASDAQ:PNRA), and Buffalo Wild Wings Inc (NASDAQ:BWLD) have been very strong and market leaders recently. These stocks could be directly affected by the high energy prices in the near term. Other leading restaurant stocks such as McDonalds Corp (NYSE:MCD), and Wendys Co (NYSE:WEN) could benefit since they have cheaper items on their menu. It is important to note that all of the restaurant stocks are holding up well on the daily charts and have not been affected by the high energy prices yet.
Nicholas Santiago
InTheMoneyStocks.com
