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19Apr2021 Pre-Market Commentary: Wall Street Futures Are Lower This Morning, DOW Down 65 Points, Nasdaq -0.5%, US Dollar Slips Fractionally 91.12, Bitcoin Is Sinking 56800

Authored by Wolf Richter via WolfStreet.com,
Archegos shows how leverage is the great accelerator of stock prices on the way up, and on the way down. One of its bets, ViacomCBS, after skyrocketing, collapsed by 60%.
Vast, unreported, andÂ at the time unknown amounts of leverage blew up Archegos Capital Management, dishing out enormous losses to its investors, the banks that brokered the swaps, and holders of the targeted stocks. The amount of leverage became known only after it blew up as banks started picking through the debris. ViacomCBS [VIAC] was one of the handful of stocks on which Archegos placed huge and highly leveraged bets, thereby pushing the shares into the stratosphere until March 22, after which they collapsed by 60%. ....

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19Apr2021 Midday Update: Oil Prices Rise On Weaker U.S. Dollar, WTI Crude 63.35, DOW At 12:30 ET Down 145 Points, US Dollar Steady At 91.12, Nasdaq -1.1%, Bitcoin Continues Falling 55200

Here is the current market situation from CNN Money
North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.21%, while the IPC led the S&P 500 lower. They fell 1.14% and 0.06% respectively.
What Is Moving the Markets
Here are the headlines moving the markets.
Oil Prices Rise On Weaker U.S. Dollar
Following a 6-percent weekly gain last week, oil prices were slightly up on Monday morning, erasing earlier losses as the U.S. dollar weakened again. As of 10:39 a.m. EDT on Monday, WTI Crude was up 0.32 percent at $63.30 and Brent Crude was trading up 0.19 percent at $66.88. The weaker U.S. dollar was supporting oil prices early on Monday as it makes oil cheaper to buy for holders of other currencies. Price gains, however, were limited, in view of the second tsunami wave of COVID-19 cases in India, a major oil consumer and the third-largest ....

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