Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]...
Oil prices slipped on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand. Saudi Arabia and Russia were initially set to meet on Monday to discuss output cuts, but that has now been pushed to April 9, after they blamed each other for the collapse of talks in March. It "just took a delay in the meeting between Saudi and Russia to knock the wind out of that rally", said Michael McCarthy, chief strategist at CMC Global Markets in Sydney....
Oil prices slipped more than $1 a barrel on Monday, after the world's top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand. Brent crude slipped close to $30 a barrel in early trade and was at $32.82 by 0203 GMT, down $1.29, or 3.8%. West Texas Intermediate (WTI) crude fell $1.66, or 5.9%, to $26.68 a barrel, after earlier touching a low of $25.28....
(Bloomberg) -- Saudi Arabia, Russia and other large oil producers are racing to negotiate a deal to stem the historic price crash as diplomats said some progress was made on Sunday.The talks still face significant obstacles: a meeting of producers from OPEC+ and beyond -- delayed once -- is only tentatively scheduled for Thursday. Russia and Saudi Arabia want the U.S. to join in, but U.S. President Donald Trump has so far shown little willingness to do so.Oil diplomats are trying to stitch together a meeting of G20 energy ministers for Friday, part of an effort to bring the U.S. on board, according to two people familiar with the situation.Crude prices have fallen 50% this year, as the economic effects of the pandemic have knocked out about a third of global demand. The price crash is so dramatic that it’s threatening the stability of oil-dependent nations, the existence of U.S. shale...
Oil prices skidded on Monday after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive, while stocks jumped as investors were encouraged by a slowdown in coronavirus-related deaths and new cases. In currency markets, sterling fell 0.4% early in Asia after British Prime Minister Boris Johnson was admitted to hospital following persistent coronavirus symptoms 10 days after testing positive for the virus. Brent crude fell as much as $4 after Saudi Arabia and Russia postponed their meeting, initially scheduled for Monday, to Thursday even as the virus pandemic pummels demand....
(Bloomberg) -- At the outset of a month promising extreme earnings volatility, American equity futures advanced after President Donald Trump and Vice President Mike Pence said they see signs the U.S. coronavirus outbreak is beginning to level off or stabilize.Contracts on the S&P 500 added 2.8% at 9 p.m. in New York, after declining 2.1% over the previous five sessions. The daily toll in some of the world’s outbreak epicenters was lower Sunday. New York State fatalities fell for the first time. Italy had the fewest deaths in more than two weeks. France reported the lowest number in five days. Spain’s tally fell for three days in a row.Meanwhile, investors are assessing the outlook for a reporting season that while still a week away is being eyed urgently by Wall Street for clues on corporate value. Six weeks of coronavirus lockdowns, a plunge in oil and an evaporation of consumer demand...
