 OPEC reportedly agreeing to cut production for another nine months, let's bring in Mike Lowengard, VP of Investment Strategy at E-Trade. So Mike, this was widely expected, but the worry is that these cuts aren't really going to do much for prices because the first round of OPEC cuts back in December didn't really move the needle. What do you think? Well, the previous cuts established an unofficial floor at $50, and the news that cuts will be extended for the next nine months, we would expect that that floor would continue. All right, and just before these OPEC cuts, OPEC was producing 31.9 million barrels a day, which is about the same level as November 2015. So yes, these are cuts, but they're still producing an incredible amount of oil every day. They really are, and they're trying to strike the right balance. The challenge is that they have to remain competitive. They want to address the supply issue that's facing the global supply of oil right now, but they also need to combat the production in the U.S. We've seen productivity increase by U.S. oil companies, and that's putting more pressure on OPEC as well. I mean, you can largely say the U.S. is to blame for this drop in oil prices over the past couple of years. We're seeing West Texas intermediate at about $51 a barrel right now. I mean, how do you see that range going over the next coming months? Well, investors can expect to see a rangebound trading within oil, but that floor is likely to continue. While they may not have been as deep as some market participants were hoping for, we think they're going to continue to keep maintaining that similar level. All right. Now, in terms of the market reaction to all this, we're now over 2,400 in the S&P 500. So what is your investment thesis right now? Well, investors are taking all this news and stride. OPEC is just one piece of news that investors are digesting, and they've been resilient. They're staying committed to equities, and they're still seeking out opportunities, both in the U.S. but also abroad as well. All right. Mike Lohengart, we'll leave it there. Thanks so much for coming back with us. Thanks, Scott. All right. I'm Scott Gamm, and you're watching The Street.