The U.S. energy industry has asked the Federal Reserve to change the terms of a $600 billion lending facility so that oil and gas companies can use the funds to repay their ballooning debts, according to a letter seen by Reuters.
(Bloomberg) — Oil rebounded in early Asia trading after plunging below zero for the first time in history but remained deep in negative territory as the U.S. benchmark’s May contract entered its final trading session.Crude for May delivery rose more than $20 to minus $16.10 a barrel, after sinking to as low as minus $40.32 a barrel during Monday’s jaw-dropping collapse. With the coronavirus pandemic bringing the U.S. economy to a standstill, refiners are using far less crude, leaving so much unused oil sloshing around that American energy companies are running out of room to store it. And if there’s …read more […]
The U.S. Congress inched toward a $450 billion deal to help small businesses and hospitals hurt by the coronavirus pandemic, with House Speaker Nancy Pelosi saying she expected an agreement on Monday as the Senate set a Tuesday session for a potential vote on it.
U.S. crude oil jumped over $20 per barrel on Tuesday but still traded below $0 after plunging into negative territory for the first time in history, dragged down by a supply glut and sagging demand for crude due to the coronavirus pandemic.
Stock futures kicked off the overnight session slightly higher and June contracts for domestic crude oil recovered some losses after Monday’s sharp declines. …read more […]
I’ll admit, I may not be the most suited to recognize what’s “normal.”
I’ve been publicly described as awkward. (And that’s by my employer!)
But I can tell you this: Something doesn’t feel right.
The markets appear alien to me right now. I’m talking “the Bug from Men in Black walking around in its Edgar suit” kind of alien.
Sure, the markets are trying to pass as normal. But the way they are moving is jerky and unnatural.
And that’s why I believe this is potentially one of the most dangerous market stretches for investors.
Apocalypse: Then
Bear markets don’t end with investors in a three-point stance.
Bear …read more […]
Today, Income Expert Marc Lichtenfeld examines the recent insider trading scandal — that’s insider buying or selling — surrounding Senator Richard Burr. He allegedly sold shares in response to insider knowledge about COVID-19’s likely impact on stocks he owned.
The truth is, people with insider knowledge about the market often use that information to enrich themselves through insider buying or selling. But most of the time, if this trading is done legally, there’s actually a way that you can track their behavior.
Me: Can this Congress be any more unlikable?
Sen. Richard Burr: Hold my beer.
If you’re unfamiliar with the “hold …read more […]
International Business Machines Corp’s clients have shifted priorities toward saving capital in recent weeks because of COVID-19, hitting software sales in particular, new Chief Executive Officer Arvind Krishna said as the company withdrew its 2020 annual forecast.
General Electric Co entered into a revolving credit agreement for $15 billion, according to a regulatory filing on Monday.
Crude oil, Netflix and Chipotle earnings will be on investors’ radars Tuesday. …read more […]
Traders desperate to avoid owning oil fled the markets on Monday, sending crude futures into negative territory for the first time ever, in recognition that the coronavirus pandemic has sapped demand for fuel and there is not enough storage for the massive glut of oil present on U.S. soil.
Leaders of the U.S. Congress inched closer on Monday to a possible $450 billion deal to help small businesses and hospitals hurt by the coronavirus pandemic, with the Senate setting a Tuesday session for a potential vote on the measure.
U.S. President Donald Trump said on Monday he hoped negotiators in Congress would reach a deal to provide more aid for small businesses hurt by the coronavirus pandemic, with a vote possible in the Senate on Tuesday.
U.S. car rental company Hertz Global Holdings Inc said on Monday it plans to lay off 10,000 employees across its North America operations to cut costs amid the economic fallout of the COVID-19 pandemic.
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