Hardpressed drillers . We will ask. Now we are quoting the next contract for june delivery. The price coming in at, where was it moments ago, what was it, 15, 16 a barrel. The president will fill the Strategic Petroleum reserve with up to 75 billion barrels. That helps storage capacity. But it makes no impression on collapsing demand which is at the heart of the oil price problem. A lot of people expect that that price, the one we see right now, what was it, 16, 15 a barrel, expect it to down from here. Well see. Stocks, theyre down in part because of the Oil Situation. Its another indicator of how badly the virus is affecting the economy. Investors not happy about the demise of Americas Energy industry. The dow will be down 500, s p, lets see, 54 points down and the nasdaq down about 82. A small loss in percentage terms compared to the dow and the s p. Well, the president s twitter account active last night, late last night. He called the virus the invisible enemy and said he would is
Another retailer looking at bankruptcy it is tuesday, april 21. You are watching Worldwide Exchange here on cnbc good morning, good afternoon, good evening with el come from wherever in the world you may be watching. Im Brian Sullivan welcome. I hope you are having a great tuesday. The stock futures looking like it is continuing off yesterdays decline for the dow futures in the red right now indicated down about 200 points yesterday, a rough day all but two dow names were down. Each falling 6 in the red it has been the action in the Global Oil Market that has really captivated the worlds attention and the Historic Development around crude trading yesterday negative for the first time ever. Thats right the may contract which expires today. At one point, this is not a miss print, trading at negative 40 a barrel the lowest on record not only zero, it is below zero. A lot of you question why would oil or any commodity trade in the red and go inverted . That is relatively simple, when you o
Facebook premarket, zooming after a big gain yesterday. Its Financial Report suggested some stability returning to the advertising market. Facebook getting 98 of its revenue from ads. This company is a truly global platform. Over 1. 7 billion daily users. Stocks up another 6 this morning after a gain yesterday. Look at microsoft. Big gain yesterday, modest gain this morning. Its close to its alltime high. It says the virus had little impact on its business. Up 1 , microsoft, this morning. Its true to say these trillion Dollar Tech Companies are again pulling in a big chunk of investors money. One more for you. Tesla. Yep, another big gain. Elon musk is furious at the california authorities for keeping his fremont plant closed. He calls them fascists. More on that in a moment. Look at tesla go, 854, up 54. Overall trn overall, its a down day. The dow is looking to be down 280 points. The s p down 33, and the nasdaq, despite the success of big tech companies, thats going to be down as we
April 10. Climbed the most since april 10. Millions of us are watching a lot of television. Netflix jumped, but investors questioned how long the binge will last. Shery look at how markets are trading. We are checking oil prices after we saw that crash this week. June futures are rebounding slightly. This coming after it plunged 70 may contracts expiring, sinking below zero for the first time ever, traders fleeing oil to avoid taking delivery of physical barrels. Seeing a rebound across the board but significantly lower from where we were earlier this week or last week. Look at how the broader markets are trading up your u. S. Futures after stocksg, tumbled the most in three weeks pay we had a frisch a fresh rout of risk aversion. Around the 2700 level. President trump and secretary of treasury mnuchin giving a briefing at the white house. Lets listen in. The certifications are quite significant. How many jobs have been saved while the money was going ppp is over 30he million jobs. Tha
555 dow points. Ahead on todays show, were going to dive into this plunge in oil prices, what it means for the u. S. Economy and jobs to the financial losses reverberating through the market right now plus we will speak with illinois governor j. B. Pritzker and former commerce secretary Penny Pritzker, his sister, about illinoiss battle against the coronavirus and the race for more protective gear and testing. Lets focus in on the big stories were watching with 58 minutes left of trading. Brian sul vab focusing on crude oil collapse, mike santoli will tie that in with broad movements were seeing today latest on the snag on government funding. Brian, first to you on this unprecedented move in oil. A day for the history books. It is a day for the history books. Ending a futures contract in negative 30 or what it was. Sara and wolf, it doesnt make sense as i talked about in power lunch as well. We started the day around 10. We continued to fall now negative 30 these are contracts. Negativ