Oil extended its slide in Asia, trading at near two-decade lows after agreed cuts by the biggest producers were seen barely making a dent in the demand destruction wrought by Covid-19 and on increasing concerns that traders are quickly running out of room to store
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Much of the $350 billion in the Small Business Administration’s emergency coronavirus relief fund was effectively spoken for within the first minutes of launch, according to senior banking executives. “We didn’t even get through the first five minutes of applications,” a JPMorgan Chase senior banking executive said.
A look at equity futures shows broad declines after last week marked a second weekly gain, and coming alongside President Trump’s daily coronavirus briefing (ongoing). S&P 500 and Nasdaq futures are down by more than 0.9%, while the Dow futures are down 1%. They’re also following oil prices which
Germany will order 45 fighter jets from Boeing (NYSE:BA) to replace aging craft, Der Spiegel reports today. The country will order 30 F/A-18 Super Hornets and 15 EA-18G Growlers to replace aging Tornado jets, according to the report. The magazine said German Defense Minister Annegret Kramp-Karrenbauer mailed Defense Secretary
Summary The S&P 500 has rallied nearly 30% in just three weeks since the March lows despite the ongoing global pandemic. The environment and economic outlook remain deeply bearish for stocks which are now once again expensive and face significant downside. The market is too
Summary The S&P 500 has rallied nearly 30% in just three weeks since the March lows despite the ongoing global pandemic. The environment and economic outlook remain deeply bearish for stocks which are now once again expensive and face significant downside. The market is too
Summary A lot of people are buying USO to bet on a rebound in oil price. That’s the wrong vehicle to do it in. USO will suffer greatly in the near term due to the super contango we are seeing in the market. Cushing inventory