The s p 500 are lower. Wti trading at 5. 31. We have a lot to discuss about the oil markets. The 40s and staying there. The dollar index inching ever higher. Sticking with the oil markets, we had that etf halted earlier today, as it was tapped out. Lets take a deeper dive in the oil market with taylor riggs. Taylor as you mentioned, a risk off tone across the board even as we look across asset. High yield of debt is down, so is copper. 10 year yields down to 56 basis points or so. The lowest yields going back to march. The dollar is stronger, treasuries are stronger. Dollar is ruling in this time of stress. Something else going on in the oil markets, on the uso etf, it was briefly halted for volatility trading. It is now reopened but we are still down. It does reflect the changes we have seen in the wti contract. It has been plummeting along with the price of oil. If you look at the chart im showing in my terminal, something wonky is going on in the etf market, given there is such a ru
Leading the way. We await any kind of agreement out of g20 Energy Ministers meeting tomorrow. Vincent absolutely guy absolutely. I think it is going to be absolutely fascinating today and tomorrow. Where are we in terms of expectations from the market . I hear anything less than 10 Million Barrels a day in the market is going to think that aint enough, and as a result of which, we could see crude, which is catching a decent bid right , coming off a bit. I think youve got a whole bunch of things still coming towards us. Jay powell is going to be speaking very shortly. I guess hes got a bunch of questions he needs to answer. It is getting awfully comp located in terms of the number of fed programs out there awfully complicated in terms of the number of fed programs out there. Normally you probably sell a bit of risk going into the weekend. That is not happening. Keep an eye on the norwegian krone, heavily geared towards the oil price. Eurodollar trading 1. 09. The dollar under little bit
Demand for fuel continues to collapse. U. S. Futures dropping below 20 a barrel. Bridgewater associates says the pandemic is more damaging than the financial crisis i decade ago. We hear from the cochairman, ray dalio, this hour. Shery here is how markets are trading at the moment. We are seeing stocks continue to gain ground for the third session. We continue to see Downside Pressure for u. S. Futures, which are down 0. 7 . Really accelerating those losses this evening. This after the s p 500 already sank from a onemonth high. We have seen earnings, Economic Data highlighting the impact of the coronavirus pandemic. Nikkei futures down 0. 4 . As we continue to see an appreciation in the japanese yen, which is now at a two week strength against the u. S. Dollar. When it comes to crude, prices rebounding a little bit after plunging to the lowest level in two decades after the record collapse in u. S. Fuel demand. In his daily coronavirus briefing, President Trump saying there are positiv
And marking the start of easter in isolation not a down cathedral in paris holds a special service a year afterward devastating fire. Its a grim milestone in the fight against the corona virus the number of people who have died worldwide past 100001 friday but infections appear to be slowing in europes hardest hit countries the World Health Organization says that doesnt mean countries should ease restrictions which have put half the worlds population under lockdown. I know that some countries are already planning the transition out of stay at home less 3 questions w. H. O. Wants to see distractions lifted as much as anyone i descend time lifting restrictions too quickly could lead to a deadly resurgence the way down can be as dangerous as the way up if not money properly more than 1600000 people have been affected since the outbreak was detected in china last year europe accounts for more than half of global cases they u. S. Is the current hotspot it has the most infections in the worl
Will record breaking cuts in production to stop the oil. Crude by saudi arabia and russia agree to the biggest of the reduction in oil. So it will be most affected. Him to the program. Factories shut grounded cars and trucks off the roads in many cities under lockdown demand for oil has collapsed due to the coronavirus pandemic and Oil Prices Fell further when major producers saudi arabia and russia couldnt agree on cutting output. Now theyve set aside their dispute opec and the oil cartels allies agreed to a 10 percent Production Cut the biggest ever but the deal to switch off the top spy 10000000 barrels a day still needs approval from mexico. These circumstances require swift and timely measures all of our Oil Producing countries must pull efforts to change the situation related to the substantial over production of oil in the world the us it didnt take part in the opec discussions on thursday which are the focus of a meeting of g 20 Energy Ministers on friday some analysts say Prod