US President Donald Trump hinted at the possibility of imposing tariffs on oil imports, due to a ‘massive excess’ supply on the global market created by the Saudi-Russian price war and exacerbated by the Covid-19 pandemic. “There’s too much oil, there’s a glut,” Trump said at a White House press conference on Friday, when asked what he discussed with oil industry executives earlier in the day. […]
Hopes
23 posts
Today in bankruptcy news that isn’t related to the coronavirus, Dean & DeLuca, the grocery chain that closed its New York stores last year, has officially filed for bankruptcy in Manhattan and now hopes to re-open some of its stores. The chain had been open for more than four decades and was one of the first grocers to introduce Americans to numerous international gourmets. Amidst a rising […]
Crude prices continued to soar on Friday following the biggest one-day increase ever during the previous session, as OPEC and its allies are set to hold their first meeting next week to try to balance the market. International benchmark Brent surged 15 percent to $34.44 per barrel while US West Texas Intermediate (WTI) rose 12 percent to $28.50 per barrel. WTI is up 30 percent for […]
Upping the ante on his expectations but not ready to offer concessions, US President Donald Trump said it “would be great” if Saudi Arabia and Russia reached a deal on cutting oil production “soon” to stabilize the global market. “It would be great for Russia, it would be great for Saudi Arabia… hopefully they announce something soon,” Trump told reporters at the White House. “I hope […]
While oil prices were already sliding, headlines from the Saudis that there are no talks with Russia ongoing sent prices tumbling with WTI back to a $21 handle… “There have been no contacts between Saudi Arabia and Russia energy ministers over any increase in the number of OPEC+ countries, nor any discussion of a joint agreement to balance oil markets,” the Saudi Ministry of Energy said […]
China reported its first locally transmitted coronavirus infection in half a week as officials continue to struggle with cases coming from abroad. Beijing has cut the number of flights allowed in and out of the country. Fifty-five new Covid-19 cases were reported across mainland China on Thursday, according to the latest figures from the country’s National Health Commission. All but one of the infections involved imported […]
Authorities in Lombardy were all too eager to play up what appeared to be a drop in new cases earlier in the week. But as it turns out, claims that the outbreak might finally be waning in Italy’s worst-hit region – claims that helped prop up stocks not only in Italy, but around the world this past week – might have been a little premature. According […]
Key indices in Asia continued to rise on the news that the White House and US Senate reached a long-anticipated rescue plan to mitigate the impact of Covid-19 on the economy. Japan’s benchmark Nikkei saw the biggest gains, jumping more than eight percent to close at the highest level in two weeks. Hong Kong’s Hang Seng Index was up around three percent about an hour before […]
Markets in Europe continued gaining on Wednesday as the US government agrees to unlock $2 trillion worth of funds to cushion the blow to the economy from the coronavirus pandemic. Britain’s FTSE 100 index surged almost two percent at the start of trading in London. Germany’s DAX is up almost three percent, while France’s CAC is gaining almost five percent. This follows huge gains by European […]
European markets rebound from historic collapse amid hopes of stimulus measures — RT Business News icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon […]
DETAILS TO FOLLOW NASA suspends production and testing of its moon rocket, spacecraft hardware https://t.co/8MgU9lXjr4 — Houston Chronicle (@HoustonChron) March 20, 2020 Source
During his 2016 run it wasn’t until July that Sen. Bernie Sanders (I-VT) formally endorsed former Secretary of State Hillary Clinton’s effort, allowing him to continue pushing his message and keep the so-called establishment on its toes. Four years later, a crisis of pandemic proportions will likely make that path untenable. The math is again against him, the momentum going the wrong way, and in a […]
Just how illiquid and volatile is this market? Consider this: one day after the S&P Emini future was locked limit down for hours on Monday morning tumbling 5%, on Tuesday the same futures contract initially tumbled 1.9%, dipping below 2,700, before soaring higher by an unprecedented 180 points, and moments ago hit the “limit up” level of 2,879, established each day by the Chicago Mercantile Exchange, […]
Boston Options Exchange (BOX) is trying again to calm regulatory concerns about ethereum’s role in storing ownership records as it seeks permission to launch a security token platform. To that end, the firm has filed an amended proposal with the U.S. Securities and Exchange Commission (SEC), dated Feb. 28, which was published in the Federal Register on Friday. That opens the proposal up to feedback from […]
Some success, after weeks of doldrums, for Joe Biden’s campaign sparked a massive surge in prediction markets’ view of his likelihood of getting the Democratic nomination surged to record highs (as Bernie and Bloomberg crashed)… Source: Bloomberg And it is this phoenix-like rise that is being proposed as driving today’s surge in stocks… Source: Bloomberg And intraday, as various results came in with Biden winning, the […]
Bitcoin remains on the hunt for a notable recovery with prices holding above widely tracked average support. The top cryptocurrency is currently trading above $8,760, having defended the 200-day moving average (MA) support at $8,720 early on Wednesday. The support level is widely considered a barometer of long-term market trends and tends to attract buying or selling pressure, depending on the direction in which it is […]
The Kremlin has said it hopes Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan will be able to agree on a set of joint measures for the Syrian province of Idlib when they meet for talks in Moscow on Thursday. “We plan to discuss the Idlib crisis,” Kremlin spokesman Dmitry Peskov said. “We expect to reach a common understanding on the crisis, the cause […]
US 01:37 GMT 03.03.2020Get short URL NEW YORK (Sputnik) – Oil prices jumped nearly 5%, the biggest single-day surge in six months, on expectations that OPEC will cut production deeply and that central banks will attempt to coordinate their rescue of the global economy from the coronavirus pandemic. West Texas Intermediate (WTI), the New York-traded benchmark for US crude oil, settled up $1.99, or 4.5 percent, […]
The BoJ bought a bucketload of ETFs overnight,and lifted Japanese stocks. The PBOC‘s National Team performed miracles lifting Chinese stocks amid collapsing PMIs. The IMF/World Bank promised “help” and everyone is now anticipating the G7 – because they’ve always been so great at agreeing on a unifying action! And all of that (along with Jay Powell‘s brief statement on Friday and Kudlow/Mnuchin’s calls for an emergency […]
Ankara does not believe its decision to allow some of the millions of migrants it hosts to cross into Europe will have an impact on its ties with the West, Turkey’s communications director said on Friday. In response to the escalating conflict and the killing of 33 of its troops on Thursday in Syria’s Idlib region, Ankara threw open its western land and sea borders to […]
With the Dow Jones entering a correction just 6 trading days after it hit an all time high, the market which has no idea how to trade in a down tape, is freaking out and predictably has spawned a rumor that an emergency rate cut is imminent, a rumor which may have been sparked by Kocherlakota’s recent Bloomberg oped as well as Janet Yellen’s hints last […]
Business 01:42 GMT 20.02.2020Get short URL NEW YORK (Sputnik) – Wall Street’s major stocks indicators, including that of the biggest technology companies, hit record highs on expectations that China will offer more stimulus to lift the second-largest economy from the doldrums of the coronavirus. The S&P 500, which reflects the performance of the top 500 stocks on the New York Stock Exchange, closed up 0.5 percent […]
Deaths (and Cases) from the Covid-19 virus exploded higher this week… And so did global stocks… As hope for renewed liquidity has maintained stocks… Source: Bloomberg Spot The Odd One Out! And while stocks surged, bonds, commodities, yuan, and cryptos are all ignoring the equity market’s “risk-on” panic-bid… Source: Bloomberg “It’s a mad mad world”… Chinese stock market indices were all higher on the week but […]