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Top Things to Know in the Market on Wednesday, April 29th
- 2020-04-29
- Traiding Idea
unemployment in the united states may be as high as 40 million The jobless rate in the United States due to the Covid-19 outbreak is much higher than what was announced in the official data, as millions of Americans have not been able to file for unemployment insurance. The total number of those who filed for unemployment reached 26 million, After another 4.4 million Americans claims were filed last week. The frustration over the application process is one of the reasons why the official unemployment rate remains below reality, according to the Economic Policy Institute (ERI). The institute said millions of others would have filed for benefits if it had not been for the difficulty of the process, while only half of those who do apply would actually receive benefits.
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Top Things to Know in the Market on Tuesday, April 28th
- 2020-04-28
- Traiding Idea
Dow up 350 pints, retakes 24,000 US equities jumped on Monday, the possibility of reopening the economy boosted investor sentiment for more risky assets. The Dow Jones industrial average gained 358.51 points, or 1.51%, to close at 24,133.78. The S&P500 closed 41.74 points higher, or 1.47%, at 2878.48. The Nasdaq composite surged 95.64 points, or 1.11 %, to 8730.16.
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U.S. crude prices turned negative for the first time in history
- 2020-04-21
- Traiding Idea
The futures contract for US crude fell more than 100% and turned negative for the first time on Monday. The international benchmark, Brent crude, for June delivery settled 8.9% lower at 25.57 per barrel. WTI crude for May delivery settled at negative $ 37.63 per barrel. Meaning producers would pay buyers to take the oil off their hands. One of the reasons behind the fall in US crude oil prices is the imminent expiration of the May futures contract on Tuesday. So those who had the contract had to take the oil, and this was their last chance to get rid of the contract, so they were willing to sell it at any cost, which led to an unprecedented drop in oil prices.
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Top Things to Know in the Market on Friday, April 17th
- 2020-04-17
- Traiding Idea
The global economy will not recover by the end of 2021 Global economic activity, which has been severely damaged by the Coronavirus pandemic, will not be fully recovered until the end of 2021, said Gita Gopinath, chief economist at the International Monetary Fund. The International Monetary Fund (IMF) downgraded its economic forecast this week. The global economy is now expected to shrink by 3% this year but will return next year with a growth rate of 5.8%. Gopinath describes that rebound as a" partial recovery."
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Top Things to Know in the Market on Wednesday, April 15th
- 2020-04-15
- Traiding Idea
The world is facing the worst recession since the 1930s While governments worldwide are battling the Coronavirus pandemic, the International Monetary Fund has warned that the world economy will experience its worst financial crisis since the Great Depression. The Washington-based organization said the global economy would contract by 3% in 2020. This is in stark contrast to the organization's previous forecast in January. That month, it had forecast global GDP expansion of 3.3% for this year.
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Top Things to Know in the Market on Tuesday, April 14th
- 2020-04-14
- Traiding Idea
The OPEC+ deal saved more than 2 million jobs in the United States The vulnerability of America's shale patch became apparent with falling oil prices due to the Russia-Saudi Arabic price war. But the recent agreement to reduce OPEC+ production saved jobs in the U.S. oil industry, said Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF). The U.S. president, who was involved in negotiations, tweeted that the deal "will save hundreds of thousands of energy jobs in the United States."
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Top Things to Know in the Market on Thursday, April 9th
- 2020-04-09
- Traiding Idea
The Dow Jones jumped 700 points, retakes 23,000 as markets continue to recover At the end of Wednesday's trading session, U.S. stock surged as Bernie Sanders dropped out of the presidential race, and some Wall Street political concerns were relieving. The Dow Jones industrial average jumped 779.71 points, or 3.4 %, to 23,433.57. S&P 500 rose 3.4 % to 2,749.98, , while the Nasdaq composite climbed 2.6 % to 8,090.90 points.
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Top Things to Know in the Market on Wednesday, April 8th
- 2020-04-08
- Traiding Idea
Stocks fell after a roller-coaster session After a volatile trading session, U.S. stocks completely giving up the massive rally from earlier in the day. This happened while Wall Street assessed the latest news of the coronavirus outbreak. The Dow Jones Industrial Average completely lost its 937.25 points jump, which was recorded at the beginning of today's trading. Finally, it closed with 26.13 points or 0.1 % drop at 22,653.83.
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