As being totally disingenuous. The jd of what happidea of whatt week with the minus 37, theres a couple of Financial Instruments that are wrong they are broken. We dont regard things as broken because it seems almost impossible that something could break. But the future that you see and the actual prices are very different, particularly in the out years. And i think whats going to happen is this has to go to zero again, because we dont have more space i heard the ceo of the largest Tanker Company on friday saying theres no room. Why should this number not go to zero it should go to zero faster than it did last time any chance it will go to zero. Yeah. Any chance that it doesnt because we will begin opening u some of these states thats certainly a hope, but there are times in life where people know that theres an instrument that is faulty. And they can shoot against that instrument and bury these people there is this financial problem that people behind the uso, they are financial peopl
The dollar index is above 100. Crude is trading at 1. 30 right now. Europe, guy. Vincent lets take a look at what is happening here guy lets take a look at what is happening here. As you can see, it is down heavily on the day, but still trading at 20 a barrel. Down by 20 on the session. We are hearing the currency effect coming through. One of those is the norwegian krone. The dollar benefiting as a result. Copper trading sharply down as well. We are seeing this bleed into other parts of the commodity space, as a result of which the lead sectors down are the oil and gas sector and the mining sector. European equities down by 2. 37 at the moment. Every single sector in negative territory. Vonnie a rough day, for sure. For more on the ripple effects of the oil selloff, we are cibcd by rebecca babin, private wealth senior trader. Anticipating that it would run out of shares, waiting for the sec to issue more. What do you read from this . Should we think of it as having wider implications
Lunch. Take a look at where we stand with the markets stocks are higher across the board as investors brace for the busiest week of earning season thus far the s p pacing for its best month since 1991, if you can believe that thats as Oil Continues to crash. Crude down about 20 today supply over flows and demand craters in our calmed economic world. As america looks to reopen the economy grads yually, purdue sas class will be in session this fall the University President Mitch Daniels said there is zero lethal risk or close to it for students he will join us shortly. Kelly, over do you thank you more than 140 S P Companies and 14 dow components are all reporting earnings this week lets get to bob with the latest it will be about quarter of the s p 500 reporting. We already got a kwooquarter reporting. Its confusing nobody has any idea what will happen in the Second Quarter in the Third Quarter a lot of people are dismissing the estimates. This story is the dispersion in the estimates a
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
The nasdaq down by 25 points this morning, youll see futures are lower again. These are modest declines. The types of numbers we used to see all the time in the morning just over a month ago. Right now, the dow looks like it would open about 42 points nasdaq around 18 points. Keeping track of treasury yields we find ourselves this morning again with the yield indicated around those levels. 0. 7 and change andrew lets bring you an update on the pandemic and some of the numbers. The number of confirmed u. S. Cases rising to 400,000. More than 12,000 have died in america. New york is the epicenter with 140,000 confirmed cases. New york, new jersey and l. A. Reporting the deadliest day. And los angeles mandates masks as essential sharing this responsibility to keep workers and everybody safe which is why we are requiring customers to wear face coverings. Shopping for groceries, picking up a precipitation or any other business, you will need to cover your face. If you are not covering your