Week yeah. This is the expiration day so what happens is you actually its tomorrow, but people are trying to prep it what happens is rusty braziel explains to me, the rollover from the may contract to june occurs tomorrow. The reason that happens is because the may futures price converges with cash and expiration so in other words, youre looking at what the real price is its not the futures price so what happens is that imagine if youre producing at 32 a barrel, 33 a barrel like occidental, thats just youre hurting nobody can make any money at these prices rusty points out that after seeing this, the next month, it might go to zero and thats i think a lot of it is because where will you put it maybe keep it in the ground. It is extraordinary and jarring. And i think its causing the decline. Carl, whats so amazing, it was completely predictable thats why maybe the decline isis really overdone if its based on oil if its based on other factors, i dont know it looks like oil is bringing th
Major funding for the pbs newshour has bn provided by moving our economy for 160 years. Bnsf, the engine that nnects us. Fidelity investments. Consumer cellular. Financial Services Firm raymond james. Supporting social entrepreneurs and their solutions to the worlds most pressing problems skollfoundation. Org. The lemelson foundation. Committed to improving lives through invention, in the u. S. And developing countries. The web at lemelson. Org. Supported by the john d. And catherine t. Macarthur foundaon. Committed to building a more just, verdant and peaceful world. More information at macfound. Org and with the ongoing support of these institutions this program was made possible by the corporation for public broadcasting. Anbsby contributions to your station from viewers like you. Thank you. Woodruff debate is building at the white house and in state houses tonight, over imposed by covid19. Curbs it comes as the pandemics death rising, and as the economic damage deepens. John yang r
Major funding for the pbs newshour has been provided by moving our economy for years. Bnsf, the engine that connects us. Fidelity investments. Consumer cellular. Financial Services Firm raymond james. Rt suppog social entrepreneurs and their solutions to the worlds most pressing problems skollfoundation. Org. The lemelson founda committed to improving lives through invention, in the u. S. And developing countries. On the w at lemelson. Org. Supported by the john d. And catherine t. Macarth foundation. Committed to building a more just, verdant and peaceful world. More information at macfound. Org and with the ongoing support of these institutions s togram was made possible by the corporation for inblic broadcast and ibonbyns vutietryors t lioi thu. Eb woodruff e is building at the white house and in stathouses tonight, over when to cast off the curbs imposed by covid19. It comes as the pandemics death toll is at 28,000 and still rising, and as the economic damage deepens. John yang por
Cuts so futures are pointing to further declines despite the jobs growth today, smashing expectations for february. The economy added 273,000 jobs during the month, versus the expected 175 Unemployment Rate 3. 5. Wall street looking to close out a turbulent week, the tenyear did tumble below 70 basis points for the first time ever, as investors look for safety amid fears. Revisions on the jobs number not bad but people are calling it the least important jobs number in a long time i dont want to go there. Im going to say the opposite. When you come in with a head of steam, at least you got some possibilities that were not going to go immediately into the recession because there were you dont hire and then lay them off the next day the 53,000 jobs in Food Services and drinking places, thats an extraordinary number are we going to fire all those people interesting. Not right away. Not right away. But there seems to be a growing belief that we are going to have a recession. Right but im sa
Discover. Subscribe to the documentary on. The. Market losses continue as fears balanced over the coronavirus wall street suffers a 6 day of sell offs with more businesses curbing their operations and lowering earnings forecast will bring you up to speed. Also on the show china is trying to get business back up and running with krone case members still rising it has a ways to go. And the u. K. Puts on its poker face for next weeks trade negotiations with the e. U. Brussels call it a bluff. This is your. Business report im Stephen Beard is in berlin thanks for joining us u. S. Markets fell for the 6th straight day on thursday as Major Companies continue to curve their operations and slash earnings projections as a result of the spreading coronavirus best p. 500. 00 tech heavy nasdaq index is each lost more than 4 Percent Crude Oil prices continued slide falling more than 2 percent to 52. 00 a barrel analysts at Goldman Sachs have even projected the u. S. Businesses could see no Earnings