Why did u. S. Oil prices hit negative territory an unprecedented fall in American Crude Oil sales has added to the hardships caused by coronavirus so what will that mean for the u. S. And the Global Economy this is inside story. Hello and welcome to the program im Richelle Carey thats one of the worlds most valued commodities but the coronavirus lockdowns to overturn the dominance of oil worth of a barrel of u. S. Oil fell to less than nothing on monday thats the 1st time in history the price has turned negative so this means producers ended up paying buyers more than 30. 00 a barrel to get oil off their hands it rebound a slightly shit disturber 2 dollars the next day that jaw dropping slide this because the world has more crude that it could use and Storage Facilities and even ocean tankers are filling up oil is traded on future contracts and fears of not finding a place to put oil in may means nobody wants crude thats led to a severe drop for west texas intermediate a benchmark for
Pandemic models have projected, Robert Redfield saying that americans have likely brought down the number of deaths. Surgeon general today, sharing in some of his optimism. I feel a lot more optimistic, because im seeing mitigation work. I believe well come in under the projection as long as we can continue to do our part for 30 days, staying home, avoiding unnecessary travel, not gathering in large groups. Lou today the president made it clear he and his administration are committed to taking unprecedented acted to rescue small american businesses and to save millions of american jobs while sustaining the economy. The Small Business administration extending 225,000 guaranteed loans, amounts to 70 billion so far. Treasury secretary Steven Mnuchin will request another 250 billion from congress that will be added to the fund this week, President Trump hints cell notee long before this country is back at work. The greatest economy in history, and anyone has had, one day, they say you have
Pandemic models have projected, Robert Redfield saying that americans have likely brought down the number of deaths. Surgeon general today, sharing in some of his optimism. I feel a lot more optimistic, because im seeing mitigation work. I believe well come in under the projection as long as we can continue to do our part for 30 days, staying home, avoiding unnecessary travel, not gathering in large groups. Lou today the president made it clear he and his administration are committed to taking unprecedented acted to rescue small american businesses and to save millions of american jobs while sustaining the economy. The Small Business administration extending 225,000 guaranteed loans, amounts to 70 billion so far. Treasury secretary Steven Mnuchin will request another 250 billion from congress that will be added to the fund this week, President Trump hints cell notee long before this country is back at work. The greatest economy in history, and anyone has had, one day, they say you have
Pandemic models have projected, Robert Redfield saying that americans have likely brought down the number of deaths. Surgeon general today, sharing in some of his optimism. I feel a lot more optimistic, because im seeing mitigation work. I believe well come in under the projection as long as we can continue to do our part for 30 days, staying home, avoiding unnecessary travel, not gathering in large groups. Lou today the president made it clear he and his administration are committed to taking unprecedented acted to rescue small american businesses and to save millions of american jobs while sustaining the economy. The Small Business administration extending 225,000 guaranteed loans, amounts to 70 billion so far. Treasury secretary Steven Mnuchin will request another 250 billion from congress that will be added to the fund this week, President Trump hints cell notee long before this country is back at work. The greatest economy in history, and anyone has had, one day, they say you have
Virus could soon peak in new york city. Weve already seen the apex in madrid italy is clearly over the hump that means buy storks. Cover your shorts. The bull is backs todays run d 1627 points marking its best day in two weeks s p soaring 7. 03 . Nasdaq 7. 3 . Can it really be this easy or does this represent too much optimism i think its a bit of the latter wall street is a group of index buyers and traders when we care about the new number of coronavirus cases, number of hospitalizations and mortality rate index buying was so intense it moved stocks like they were play things now, does that mean we should buy the nasdaq when we have more ventilators, sell it if we dont have enough personal protective equipment . Do we buy the s p retail etf when we get a decent number from, i dont know, Governor Cuomo . No, its kind of ridiculous. Were simply seeing, though, the flip side of what happens when people were downbeat as they were last week when the president s team told us some pretty ho