Tupperware value tanks on Monday

Tupperware tumbled as much as 48% Monday, the most since February 2020, after the company said it hired financial advisers “to help improve its capital structure and remediate its doubts regarding its ability to continue as a going concern.”

Tupperware experienced a sizzling run-up during the first year of the COVID pandemic, almost tripling in 2020, as the lockdown boosted kitchenware sales.

It’s fallen on harder times since then. In November, the company announced a concern about its future and reported disappointing earnings, sending shares lower.

Now, with the iconic brand hiring advisers, investors have been further spooked.

Oil rally ends as dollar rises

Oil fell in a low-volume session, unable to withstand a rising U.S. dollar while investors waited for upcoming supply constraints to hit the market.

Traders exited risk assets Monday, pausing a rally in which prices have risen roughly 20% in the last three weeks.

OPEC Plus’s surprise decision to slash output beginning in May reignited bullish bets on prices, yet some demand indicators are flashing signs of weakness.

“The U.S. dollar rally is triggering a slight correction in crude,” said Dennis Kissler, senior vice president of trading at BOK Financial Securities.

From wire reports“Inflation still hanging around should cause further rates hikes by the Fed, which is bullish to the U.S. dollar and a negative near term to crude.”

Traders are awaiting insights this week into monthly outlooks from OPEC and the International Energy Agency as well as U.S. inflation data and Federal Reserve minutes.