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The Forces Fueling 2020's Oil Bust

  • The Forces Fueling 2020's Oil Bust The Forces Fueling 2020's Oil Bust 4:17
    What the Federal Reserve Can Do to Fight Recession What the Federal Reserve Can Do to Fight Recession 6:27
    How Global Trade Runs on U.S. Dollars How Global Trade Runs on U.S. Dollars 4:15
10:03 a.m. Today - By Mark DeCambre
Nasdaq hits record as tech sector keeps stocks slightly positive Continuing jobless claims dropped by a seasonally adjusted 844,000 to 16.1 million in the week ended July 25.U.S. stocks tilted higher midday Thursday as technology shares led the charge in an otherwise listless day for the market as investors awaited news on a coronavirus aid package from Congress and the July employment report on Friday.
9:29 a.m. Today - By William Watts
Oil trades near 5-month high as traders weigh fall in U.S. jobless claims versus demand worriesOil futures were mixed Thursday, trading near five-month highs, as investors weighed a surprising fall in U.S. weekly first-time jobless claims against worries about lackluster fuel demand.
7:35 a.m. Today - By Philip van Doorn
Gold rising to $4,000 an ounce ‘would not be an unreasonable move,’ fund manager says Michael Cuggino of the Permanent Portfolio makes the case that gold is still relatively cheap, despite its 35% increase this yearMichael Cuggino of the Permanent Portfolio makes the case that gold is still relatively cheap, despite its 35% increase this year.
5:16 a.m. Today - By Steve Goldstein
Here’s the worrying message the market is sending about the economic recoverySure, the S&P 500 has rallied from the March lows. But other market indicators are telling a worrying story about the economy.
4:16 a.m. Today - By Mark DeCambre
Gold prices aim for fifth record in a row as bullion enters ‘euphoric phase’ of rally— silver surges over 5% tooGold futures on Thursday appear set to extend a record rally to a fifth straight day, with a muted dollar and lackluster moves in equities unlikely to deter bullion’s ascent near $2,100.
7:31 p.m. Aug. 5, 2020 - Associated Press
Asian markets mixed as U.S. talks on stimulus plan stall Stocks fall in Tokyo and Shanghai, but surge in Hong KongStocks were mixed in Asia on Thursday despite strong gains overnight on Wall Street, where the rally just kept on rolling.
12:52 p.m. Aug. 5, 2020 - By Sunny Oh
Treasury yields climb on strong services data, increased debt issuanceU.S. Treasury yields rose Wednesday after strong U.S. economic data and expectations for increased debt issuance weighed on appetite for government bonds.
12:39 p.m. Aug. 5, 2020 - By Nigam Arora
Stock market bulls should consider owning gold as an insurance policy Money printing by the Federal Reserve and massive borrowing by the government may debase the U.S. dollar, helping goldMoney printing by the Federal Reserve and massive borrowing by the government may debase the U.S. dollar, helping gold.
5:58 a.m. Aug. 5, 2020 - By Mark DeCambre
S&P 500 trades within 2% of record high as Wall Street focuses on Disney subscriber growth and hope for fresh round of coronaviirus aidU.S. stocks rose at the start of trading Wednesday as corporate earnings results continued to roll in, and investors pored over a disappointing jobs report from payroll provider Automatic Data Processing Inc. . The payroll company said only 167,000 private sector jobs were created in July, short of the consensus estimate for a gain of 1.88 million jobs, according to Econoday. However, better-than-expected quarterly results late Tuesday from Dow component and entertainment and theme park giant Walt Disney Co. , even though it reported a $3.5 billion loss, helped to fuel some bullishness in markets. On top of that, the Federal Reserve's No. 2, Richard Clarida, told CNBC that he's sticking to his prior forecast of an improving economy over the remainder of the year. The Dow Jones Industrial Average rose 266 points, or 1%, at 27,094, around its highest level since June 8, while the S&P 500 index gained 0.6% to 3,326, putting the broad-market benchmark within 2% of its Feb. 19 record high at 3,386.15. The Nasdaq Composite Index , meanwhile, rose 0.3% to 10,978, which puts the tech-heavy index on pace for its 31st record close of 2020, which would already match last year's full-year record tally for the gauge. Wall Street drew some optimism from report late Tuesday reports suggested congressional leaders are working to reach a coronavirus-aid bill deal by the end of the week.
12:47 p.m. Aug. 4, 2020 - By Mark DeCambre
Nasdaq logs 30th record of 2020 and S&P 500 ends above 3,300 in choppy session, as large-cap tech stocks take a breather Disney earnings after the close of regular trade Tuesday are in focusU.S. stocks end a bumpy trading session on a high note Tuesday, with another record for the Nasdaq Composite, even as technology-related names took a backseat to outperformance in beaten-down sectors energy, real estate and consumer staples.
12:11 p.m. Aug. 4, 2020 - By Sunny Oh
10-year Treasury yield flirts with record closing low as investors grow gloomy on economic reboundU.S. Treasury yields fell Tuesday as investors remained pessimistic about the U.S. economy’s health and eyed the slow pace of negotiations in Congress on another fiscal relief package to combat the coronavirus pandemic.
6:39 a.m. Aug. 4, 2020 - By Callum Keown
A stock market correction may be imminent, JPMorgan says. Here’s why you shouldn’t panicThe typically muted month of August is upon us but there’s still a lot for investors to digest.
5:00 a.m. Aug. 4, 2020 - By Greg Robb
IMF says 40% of world’s current account surpluses and deficits are ‘excessive’ IMF says U.S. dollar was 11% overvalued in 2019The U.S. dollar was overvalued against other currencies by 11% in 2019, the International Monetary Fund said in a report released Tuesday
8:15 p.m. Aug. 3, 2020 - Associated Press
Asian markets join global rally as S&P 500 nears record Stocks jump in Tokyo, Seoul, SydneyShares advanced across Asia on Tuesday after Wall Street closed broadly higher on encouraging economic reports, starting off August by closing within 3% of the record high it set in February.
12:25 p.m. Aug. 3, 2020 - By Mark DeCambre
Nasdaq ends at record as stocks rally after pickup in manufacturing activity to kick off August Microsoft shares rallied amid its efforts to buy U.S. portion of TikTok from China’s ByteDanceU.S. stocks rise Monday to kick off the first trading day of August as investors were heartened by upbeat manufacturing data, even as talks appeared stalled over another round of coronavirus stimulus.
12:01 p.m. Aug. 3, 2020 - By Sunny Oh
Treasury yields climb after factory data offers positive sign for global economyU.S. Treasury yields rise Monday as strong manufacturing data across the U.S., Europe and China suggests the recovery in the global economy was ongoing despite mounting worries how rising coronavirus infections could stall growth.
11:46 a.m. Aug. 3, 2020 - By Mark DeCambre
Nasdaq Composite’s record rally takes it toward fastest 1,000-point milestone in 20 years Tech-heavy benchmark closing in on 11,000The Nasdaq Composite is starting August off on a high note, which could push the technology-laden benchmark to its fastest 1,000-point milestone in the past 20 years.
10:41 a.m. Aug. 3, 2020 - By Shawn Langlois
The stock market could be facing ‘multiple decades’ of ‘deleterious’ economic after-effects, analyst warnsThe stock market’s ability to shrug off the economic destruction and gloomy coronavirus headlines continues to enrich emboldened bulls and baffle even some of the savviest Wall Street pros. A big dose of reality, however, looms large, if Solomon Tadesse, the global head of quantitative research at Societe Generale, has it right with his recent outlook.
8:14 p.m. Aug. 2, 2020 - Associated Press
Asian markets mixed as growth data offsets fears Stocks jump in Tokyo, mainland China after economic dataAsian shares were mixed on Monday as investors eyeballed surging coronavirus cases in the region.
5:33 a.m. Aug. 1, 2020 - By William Watts
Stocks stage a late-day comeback to end higher one day after a Big Tech earnings blowout No progress on Capitol Hill toward coronavirus relief package, thoughU.S. equities rebounded late in the day Friday despite a mixed batch of earnings results, disappointing economic data and a lack of progress on Capitol Hill toward another coronavirus aid package.
4:11 a.m. Aug. 1, 2020 - By Myra P. Saefong
Silver: poor man’s gold no more? Prices for the metal trade 25% higher for July Investors have focused on a rise in record prices for gold, but silver’s up nearly 25% in July—the metal’s second-biggest monthly gain on record—and it’s still undervalued compared with the yellow metal.
12:15 p.m. July 31, 2020 - By Sunny Oh
2-year Treasury yield plumbs record low after July rally as economic mood stays gloomyU.S. Treasury yields ended lower on Friday, capping a weekly and monthly decline as concerns around the economic hit to the global economy from the coronavirus, bolstered trading for government bonds.
7:12 a.m. July 31, 2020 - By Barbara Kollmeyer
European stocks turn lower as investors juggle tech optimism and economic gloom Nokia climbs after results European stocks drop on the final trading day of the month, as economic worries overshadow upbeat earnings in the U.S. and Europe.
5:37 a.m. July 31, 2020 - By Steve Goldstein
Blowout earnings show big tech dominate an economy ‘without mouths or noses’ but 10% of jobs may never come back, strategist saysSure, the tech results were great, and they will continue to be during the pandemic. But expect bond yields to fall further, one strategist says.
8:22 p.m. July 30, 2020 - Associated Press
Asian markets fall after grim U.S. GDP data Stocks sink in Tokyo and Sydney, but rise slightly in Hong Kong and mainland ChinaAsian shares tumbled Friday as reports showed layoffs of American workers are persisting at high levels after the U.S. economy contracted at a nearly 33% annual pace in the spring, the worst quarter on record.
12:17 p.m. July 30, 2020 - By William Watts
Dow, S&P 500 finish lower but Nasdaq books a gain ahead of parade of earnings from megacap tech-related firms Quarterly results from dozens of high-profile companies were due after Thursday’s close, including Alphabet, Amazon.com, Apple and Facebook U.S. stocks finish off their worst levels of the day, with the Nasdaq eking out a positive finish as investors braced for a litany of quarterly results from behemoths of the technology and e-commerce world, which could influence trade to end a choppy week.
12:02 p.m. July 30, 2020 - By Sunny Oh
10-year Treasury yield sinks to lowest since March after GDP, jobless claims point to economic challenges aheadU.S. Treasury yields fall on Thursday as an official snapshot of U.S. growth in the second quarter of this year confirmed the economic devastation caused by the COVID-19 pandemic.
11:26 a.m. July 30, 2020 - By William Watts
U.S. oil prices drop below $40 on fears rising coronavirus cases will crimp demand California and Florida posted single-day record coronavirus death numbers on WednesdayOil futures are sharply lower Thursday, with U.S. prices settling below $40 a barrel for the first time in three weeks, pressured by worries that a rise in COVID-19 cases around the world could hurt demand as major oil producers relax production curbs.
10:19 a.m. July 30, 2020 - By Myra P. Saefong
Gold prices suffer first loss in 10 sessions Silver prices tumble by nearly 4%; palladium drops almost 6%Gold prices end lower Thursday, with bullion retreating from a record rally that has seen the precious metal notch nine consecutive gains.
7:52 a.m. July 30, 2020 - By Michael Ashbaugh
Charting a GDP-fueled downdraft, Dow industrials challenge 200-day average Focus: Transports sustain July break atop 200-day average, IYT, TWLO, BSX, PENN, HOMEU.S. stocks are lower early Thursday, pressured after an ugly second-quarter GDP report, signaling an economy contracting at a record 32.9% annual pace. Against this backdrop, the S&P 500 has maintained its range bottom — the 3,200 mark — while the Dow industrials have pulled in to a headline test of the 200-day moving average, currently 26,230.
10:36 p.m. July 29, 2020 - By Steve Goldstein
Why Europe’s top asset manager expects U.S. stocks to outperform — and one reason is stock buybacksEurope’s largest asset manager, Amundi Asset Management, has produced research showing why U.S. stocks have outperformed the world, and why that outperformance may continue.
8:12 p.m. July 29, 2020 - By Marketwatch
Asian markets mixed as Fed keeps interest rates unchanged Nikkei about flat, while stocks gain in Hong KongAsian markets gained early Thursday, after the U.S. Federal Reserve left interest rates unchanged, as expected, and the CEOs of big tech companies emerged from a House antitrust hearing relatively unscathed.
12:22 p.m. July 29, 2020 - By Joy Wiltermuth
U.S. stocks close higher after Fed keeps interest rates near zero, Powell vows to keep up support during pandemic Big tech CEOs of Facebook, Apple, Amazon and Google parent Alphabet Inc. grilled before House antitrust panelS&P 500, Nasdaq finished more than 1.2% higher Wednesday, after the Federal Reserve left benchmark interest rates unchanged and the central bank’s Powell reiterated his promise to keep rates near zero and stimulus intact until the threat of the coronavirus to the U.S. economy has passed.
11:43 a.m. July 29, 2020 - By Sunny Oh
Treasury yields struggle for direction after Fed pledges to support economyTreasury yields end mixed Wednesday after the Federal Reserve underlined its commitment to supporting the economy as it makes a tentative recovery during the COVID-19 pandemic.
10:36 a.m. July 29, 2020 - By Myra P. Saefong
Gold logs record close, up a ninth straight session, then climbs after Fed’s policy statementGold futures tally a ninth gain in a row on Wednesday to settle at another record, then move even higher after the Federal Open Market Committee reiterated plans to keep interest rates near zero until the economy improves.
10:30 a.m. July 29, 2020 - By William Watts
Dollar weakens across the board after Fed decisionThe U.S. dollar weakened versus major rivals Wednesday after the Federal Reserve, as expected, left interest rates near zero, while observing that economic activity had picked up but remained well below pre-pandemic levels. The Fed indicated it would maintain its easy-money policies to shore up the economy. The dollar, which spiked higher earlier this year as the COVID-19 outbreak sparked a scramble for the greenback, has been under pressure in recent weeks. The euro on Wednesday added to recent gains, rising 0.6% to $1.1788, its highest since September 2018, according to FactSet. The dollar traded at its lowest level since March against the Japanese currency , off 0.2% at 104.88 yen. while the British pound was up 0.5% at $1.2993 after touching $1.30 for the first time in four months. The ICE U.S. Dollar Index, a measure of the currency against a basket of six major rivals, was off 0.4% at 93.31, hitting its lowest level since June 2018.
9:01 p.m. July 28, 2020 - Associated Press
Asian markets mixed amid gloomy earnings and pandemic concerns Nikkei slips, while stocks in Hong Kong and Shanghai gainAsian markets were mixed Wednesday as traders awaited the results of the U.S. Federal Reserve’s latest meeting.
9:00 p.m. July 28, 2020 - By Marketwatch
Asian markets mixed amid gloomy earnings and pandemic concerns Nikkei slips, while stocks in Hong Kong and Shanghai gainAsian markets were mixed Wednesday as traders awaited the results of the U.S. Federal Reserve’s latest meeting.
12:49 p.m. July 28, 2020 - By Joy Wiltermuth
Dow slides 205 points, stocks end near session lows, as investors await coronavirus aid progress S&P 500’s top gainers are Norwegian Cruise Line, real estate investment trustsU.S. stocks indexes finished lower Tuesday, with losses mounting in the final hour of trade, as investors monitored talks between Republicans and Democrats on a second coronavirus aid package and a flood of second-quarter corporate results.
8:04 p.m. July 27, 2020 - Associated Press
Asian markets advance after Wall Street rally, and as gold extends gains Stocks edge higher in Hong Kong, Shanghai despite rising U.S.-China tensionsShares advanced in Asia on Tuesday after U.S. stocks resumed their upward march on Wall Street, while the price of gold pushed to nearly $1,970 per ounce.
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