Spirit Airlines Stock Pops on Fresh Analyst Upgrade

Spirit Airlines Incorporated (NYSE:SAVE) just scored an upgrade from J.P. Morgan Securities to "overweight" from "neutral," and s a price-target hike to $30 from $24. The analyst in question noted a merger deal with JetBlue Airways (JBLU) is becoming more likely than one with Frontier (ULCC), after the former upped its offer. At last check, the equity is up 2% to trade at $22.75.

Analysts were split towards Spirit Airlines stock coming into today, with five calling it a "hold," while five said "strong buy." This leaves plenty of room for additional upgrades moving forward. Meanwhile, short interest added 14.4% in two most recent reporting periods, with the 9.50 million shares sold short now accounting for 8.8% of SAVE's available float.

On the charts, the security has bounced off a May 12, more than one-year low of $15.94, but this rally lost steam at the $23 level. Shares have broken through pressure from the 60-day moving average this week, and are today eyeing a fifth-straight close above this trendline. Year-to-date, though, SAVE is down 33.3%.

Options bulls are also chiming in, with 2,757 calls across the tape so far, which is double the intraday average, compared to just 367 puts. Most popular is the July 25 call, followed by the weekly 6/10 22.50-strike. New positions are  being opened at the latter, which will expire at today's close.

Commodities are a broad category that covers agricultural products like wheat, corn, and soybeans. It also includes oil and derivative products such as gasoline, natural gas, and diesel fuel.

However, investing in commodities also covers precious metals such as gold and silver as well as base metals like copper and aluminum. And more recently, this sector includes items like lithium that will be needed in many of the emerging sectors of our economy.

Commodities trading is frequently done by trading contracts on the futures market. And it's not for faint-of-heart investors. Prices are volatile and can change quickly due to macroeconomic events.

However, at certain times, particularly in times of high inflation, commodities outperform the broader market. A practical alternative for individual investors looking to profit from commodities is to invest in exchange-traded funds (ETFs). These funds give investors exposure to this sector while reducing the risk that comes from investing in any single commodity.

Here are seven ETFs that you can buy to help build a hedge against inflation.