We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]...
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]...
(Bloomberg) -- Asian stocks and U.S. futures advanced after the daily reported death tolls in some of the world’s coronavirus epicenters dropped on Sunday. Contracts on the S&P 500 Index climbed more than 3% at one point, and Japan’s benchmarks were up over 2%, snapping a five-day losing streak even as the country approaches a potential emergency declaration. The yen dropped along with Treasuries as haven demand receded. Crude oil prices slumped as uncertainty remains over a proposed meeting of supplier nations that is planned for April 9.Chinese markets are closed for a holiday Monday. Elsewhere, the pound dipped as U.K. Prime Minister Boris Johnson was admitted to hospital for tests after suffering from the coronavirus for 10 days. Saudi Arabia, Russia and other large oil producers are racing to negotiate a deal to stem the commodity’s historic price crash.In the latest developments on the health crisis, New York state fatalities...
(Bloomberg) -- President Donald Trump said he doesn’t think he’ll have to impose tariffs on imported oil to blunt the impact of a price war between Russia and Saudi Arabia, but held out the option to protect U.S. oil producers.“I would use tariffs if I have to,” he said at a White House news conference on Sunday, restating his position from Saturday’s briefing. “I don’t think I’m going to have to.”The U.S. has been in talks with Russia and Saudi Arabia about cutting excess production that’s cratered global oil prices, including calls between Trump and the leaders of both nations. But despite Trump’s assertion last week the two countries would cut production by 10 million to 15 million barrels, no agreement has been reached.Read more: Negotiators Race for Global Pact With U.S. Role in BalanceOPEC+, the former alliance between the Organization of Petroleum Exporting Countries and Russia, delayed a meeting aimed...
(Bloomberg) -- Asian stocks opened firmer and U.S. stocks futures advanced after the daily reported death tolls in some of the world’s coronavirus epicenters dropped on Sunday. Oil tumbled.The latest fatality figures provided some respite to the onslaught of recent negative virus headlines, though the economic impact will continue to bite for some time. S&P 500 futures were more than 1% higher. Stocks opened modestly higher in South Korea and Australia, while Japan underperformed before a potential emergency declaration there. The yen slipped and Treasury yields edged higher.The pound dipped as U.K. Prime Minister Boris Johnson was admitted to hospital for tests after suffering from the coronavirus for 10 days. Oil sank as uncertainty remains over a proposed meeting of supplier nations that is planned for April 9. Saudi Arabia, Russia and other large oil producers are racing to negotiate a deal to stem the commodity’s historic price crash.In the latest...
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 after British Prime Minister was admitted to hospital following persistent coronavirus symptoms as the pandemic rapidly spreads. Brent crude fell as much as $3 in early Asian trading after Saudi Arabia and Russia postponed a meeting over a potential pact to cut production to Thursday....
