Wish we were together again. So the word unprecedented is getting quite a workout over the past month or so. Jack, it certainly applies to what was happening in the Energy Market over the past week. Right at the start of the week the Energy Markets you know what . Lets get weird. I know you think youve seen weird, but how does 37 sound on a barrel of crude oil . Does that mean i can go to a gas station, theyll pea me to if fill up the car . Thats not what it means. In the futures market, each contract has to do with a specific type of Oil Delivered to a specific place at a specific time, and on april 20th when that may west texas intermediate contract came due, you better have had a pipeline and storage tank willing to accept your oil in oklahoma or you got closed with next to zero liquidity. Most people didnt have it, so so we had prices go sharply negative. Now jack if you have a boat that holds oil, thats a nice thing. Funny you mentioned that because on my street wise podcast for b
Wish we were together again. So the word unprecedented is getting quite a workout over the past month or so. Jack, it certainly applies to what was happening in the Energy Market over the past week. Right at the start of the week the Energy Markets you know what . Lets get weird. I know you think youve seen weird, but how does 37 sound on a barrel of crude oil . Does that mean i can go to a gas station, theyll pea me to if fill up the car . Thats not what it means. In the futures market, each contract has to do with a specific type of Oil Delivered to a specific place at a specific time, and on april 20th when that may west texas intermediate contract came due, you better have had a pipeline and storage tank willing to accept your oil in oklahoma or you got closed with next to zero liquidity. Most people didnt have it, so so we had prices go sharply negative. Now jack if you have a boat that holds oil, thats a nice thing. Funny you mentioned that because on my street wise podcast for b
Economy. More than two trillion more in programs today to support business and the bond market amid the covid19 out break. Fed chair powell saying the economy and the recovery can be robust this after another 6. 6 million americans file for jobless claims that brings the total over the past three weeks to nearly 17 million. Take a look at oil it was surging earlier today but pairing those gains now, its now negative on conflicting reports on whether or not opec has reached a deal thanks. We have all the big stories covered today. Crude being one of them. Its down 5 well have more in a moment. Bob on the markets and kayla tracking the moves in congress, which didnt happen today. Bob, we kick it off with you we are just off the highs the banks are lagging. Banks, retailers, just off the highs for the Dow Jones Industrial average bank, retailers and real estate doing well energy has been lagging a little bit. Were awaiting for details on opec and the deal or no deal we dont know yet. Ther
Retail certificate going to zero not every biotech will keep growing every day. Thats the way it feels on a gay when oil imploded. The stock market got slammed because of it. Dow losing 592 points. S p sinking 1. 79 , why, of course its got a lot of tech and biotech. I dont blame a soul for being confused here. Buy, buy, buy a. Sell, sell, sell. The situation is, confusing were in Uncharted Waters now. It doesnt lend itself to easy explanation. We have to take them one at a time because some of these are so extreme they almost feel like science fiction. Like the price of oil falling to negative 37 and change today. Yeah, thats right you heard me, negative 37, minus sign lets start with oil as that meltdown was terrifying to watch. At dawn crude was a buck and a half, little below 20, seemed okay by the time the stock market opened it was down to 11, negative whoever owned the oil last had to pay someone else to take it off their hands. Next thing you know it was negative 10, negative 2
Has ever embarked. Neil saturday april 11th, 1970. Liftoff for apollo 13. Neil third trip to surface of the moon. Looks good. Neil commissions commander to be fifth man to walk on. Yes, Alan Shepherd had been grounded for 9 years and he was up for flight again, and so because of his space program, okay, you get apollo 13. And then, you know, wiser heads management said, wait a second, shepherd doesnt have that much screening so far. Maybe we need to give him more training. I had made apollo 8 and i had previous training and i thought 13 would be fine. All the other engines are go. Fourth flight into space, record. Module is coming from about 5,000 miles down to earth. Spacecraft and has 4b traveling in a speed about 22,900 feet per second at this time. Neil in addition to apollo 8, mans First Mission around the moon was two Gemini Missions and turned down the command module when Neil Armstrong and buzz aldrin walked on the moon. One small step for man. To be honest about it i just didn