It was a relief to the Dow Jones and the stock market at large when the White House and the Senate agreed on a deal regarding the coronavirus stimulus bill.
Tom Barrack, the head of Colony Capital real estate investment firm, claims that the next big crisis can be harder than the Great Depression. He suggests that the market needs an additional supply of liquid cash, as well as borrow system restructuring until 2024.
Oil prices seem to get better after a horrible week. OPEC may resume pumping the markets with fresh oil.
Dow Jones futures and S&P 500 futures have changed little this morning, while Nasdaq futures rose modestly after California issued a “stay-at-home” order to slow the Covid-19 spread.
Dow Futures, as well as the market in general, are very unstable these days. The ECB announced a new Pandemic Emergency Purchase Programme to support the European economy.
Oil price goes down as the demand for crude keeps melting. The coronavirus attack and the failure of the OPEC meeting influence oil dynamics. On Wednesday, it reached the super low price of $20,37 per barrel via WTI, Brent and on world markets.
Dow Futures lost another 800 points. Futures contracts for the indices were in “limit down” territory, a situation where trading is halted after they have hit a 5% loss and can go no lower.
Dow Futures are showing a sharp recovery after Monday’s bloodbath as U.S. President Donald Trump assures supporting industries amid this ongoing COVID-19 outbreak that has disrupted the global economy.
The situation with the oil price is getting worse as the price has now fallen below $30 as there is no longer much demand because of travel restrictions due to the coronavirus.
Previously, the target range of the interest rate varied from 1% to 1.25%. Now the benchmark for both short-term lending for financial institutions and a peg to consumer rates will be targeted at 0% to 0.25%. Dow Futures lost 1,000 points.
The latest commodity trading prices for oil, natural gas, gold, silver, wheat, corn and more on the U.S. commodities & futures market.