The crude oil tanker, Chemtrans Cancale, is seen anchored off shore as it waits to dock at Port Everglades on April 20, 2020 in Fort Lauderdale, Florida. Joe Raedle | Getty Images “Know what you own” is an old adage when investing, but it is especially important when owning investments that hold futures contracts. Just
Mark II Unitorque electric pumping unit at a crude oil well site outside South Heart, North Dakota. Daniel Acker | Bloomberg | Getty Images Wild trading in an oil futures contract this week was like an alarm going off for a fire that firefighters already knew was burning. In this case, the oil industry has
Billionaire entrepreneur Mark Cuban joined CNBC’s “Fast Money” on Monday. Cuban, owner of the NBA’s Dallas Mavericks, has been vocal during the coronavirus pandemic, arguing for government relief measures that prioritize workers and puts restrictions on stock buybacks. Cuban last week criticized how some banks were handling the newly created small business loan program, telling CNBC that
The price of US oil clawed back above zero on Tuesday after plunging into negative territory for the first time as the coronavirus pandemic crushes demand in global energy markets. West Texas Intermediate, the US oil benchmark, was fetching $1.67 a barrel in early Asia trading after starting the session at -$14, meaning that producers
As California and America look forward to relaxing restrictions, it’s time to look ahead to meeting the onrushing financial crisis. The coronavirus has created such a massive disruption to the world’s stock markets that almost all California public employee defined-benefit pension plans will never recover. At a minimum, they must be put on a fiscal
Both homebuyer and seller demand have weakened dramatically in the last month, as Americans hunker down to help stop the spread of the coronavirus. While some are still shopping online, doing virtual tours, the spring season was essentially over before it started. Although sales are way down, home values may not suffer as much, except
Check out the companies making headlines midday Monday: Boeing — Boeing shares fell more than 3% after the China Development Bank Financial Leasing Co. canceled the purchase of 29 Boeing 737 Max jets. Boeing has lost more than half of its value this year amid the coronavirus pandemic. United Airlines — Shares of United Airlines
Here’s a round up of latest developments Donald Trump on Sunday said he was preparing to use the Defence Production Act to compel a US company to produce millions of the medical swabs used for coronavirus tests that remain in short supply. All six of Amazon’s warehouses in France are to remain closed, the company
Kevin Matras goes over the Filtered Zacks Rank 5 strategy. Learn how it can help you pick the best of the Zacks #1 Rank stocks. Highlighted stocks include AFAM, DKL and DTSI.
The SpaceX Falcon 9 rocket emblazoned with the famous NASA “worm” logo for the Demo-2 mission/ NASA NASA and SpaceX are targeting May 27 for the launch of Demo-2, the first launch of NASA astronauts from the U.S. since 2011 and the first crewed launch for Elon Musk’s space company. As its name implies, Demo-2
US oil prices tumbled to their lowest level in more than two decades as the global demand hit from the coronavirus pandemic raised concerns the world is becoming awash with crude that it does not have enough room to store. Analysts said the latest fall in prices, which came ahead of the imminent expiry of
House Financial Services Committee Chairwoman Maxine Waters, D- Calif., wants the Federal Reserve to increase the parameters of its short-term note program and extend help to the secondary market. In a letter sent to Fed Chair Jerome Powell Thursday night, Waters said though the Fed’s Municipal Liquidity Facility helps provide liquidity to states and local
Homebuilders are hurting. U.S. home construction in March endured its worst monthly decline since 1984 as housing starts fell by over 22% from the previous month, the Commerce Department said Thursday. Homebuilder confidence was also pummeled, with one key indicator seeing the biggest drop in its 35-year history. Home construction stocks have reflected the weakness. The iShares
An Uber Eats food delivery courier closes a bag with an order during a lockdown, imposed to prevent the spread of coronavirus disease (COVID-19), in central Kiev, Ukraine April 2, 2020. Valentyn Ogirenko | Reuters Check out the companies making headlines after the bell. Gilead Sciences — The pharmaceutical company’s stock surged 13% in extended trading
European Central Bank officials have held high-level talks with counterparts in Brussels about creating a eurozone bad bank to remove billions of euros in toxic debts from lenders’ balance sheets. The plan to deal with debts left over from the 2008 financial crisis is being pushed by senior ECB officials, who worry the coronavirus pandemic
From 2007 through 2019, I wrote the weekly Activist Spotlight column at Barron’s. I have now joined the CNBC team and will be writing the weekly update exclusively for CNBC readers. Due to the coronavirus crisis we have delayed the launch of this column, but we believe now is the right time to start focusing
News you might have missed Pakistan on Saturday lifted restrictions on group prayers at mosques but put in place new conditions to block the further spread of coronavirus in the country. It will be mandatory for worshippers to wear masks and maintain a distance of 6ft from each other, rather than pray shoulder to shoulder
The Illinois Regional Transportation Authority plans to raise its short-term borrowing to help manage liquidity as the agency awaits federal help that should offset an expected $958 million blow to tax and farebox revenues caused by the COVID-19 pandemic. “We were originally going to do $150 million, but given the COVID situation we decided to
The CEO of real estate brokerage Redfin said Friday that demand for homes has shifted to rural areas as people react to the coronavirus pandemic and look to move out of dense urban areas. “We have seen that people are more interested in that house at the foot of the mountains by the lake,” Glenn Kelman
Take a look at some of the biggest movers in the premarket: Procter & Gamble (PG) – The consumer products giant earned $1.17 per share for its latest quarter, beating consensus estimates by 4 cents a share. Revenue came in below analysts’ projections. Organic sales were up 6% during the quarter thanks in large part
News you might have missed The US suffered a fourth consecutive day of coronavirus deaths exceeding 2,000, taking the total number of lives lost in the country during the outbreak to more than 32,000. A further 2,060 people died from Covid-19 over the past 24 hours, according to data from the Covid Tracking Project released
Scientist Xinhua Yan works in the lab at Moderna in Cambridge, MA on Feb. 28, 2020. Moderna has developed the first experimental coronavirus medicine, but an approved treatment is more than a year away. David L. Ryan | Boston Globe | Getty Images Biotech stocks surged Friday after new details on a closely watched clinical
Conservative activists cheered on in some cases by Donald Trump are vowing to step up street protests against lockdowns imposed to stop the spread of the coronavirus, arguing the restrictions violate their civil rights and threaten their ability to earn a living. The demonstrations in recent days have echoes of the anti-establishment agitation that led
The municipal market was mostly quiet Friday as participants came off a week of a strong rally, an awakened new-issue market and the first fund inflows since February as they cautiously await another week with more deals on tap and continued questions of support out of Washington. Triple A benchmarks showed slight weakness with most
urbazon | Getty Images More than 2.9 million homeowners have taken advantage of a program designed to provide relief to holders of government-backed mortgages, part of the coronavirus CARES Act relief package. This represents 5.5% of all active mortgages, according to Black Knight, a mortgage data and analytics company that is now tracking the growing
The number of companies withdrawing or declining to provide earnings guidance continues to grow, with Abbott, ConocoPhillips, Jack in the Box, GoPro, and Bed Bath & Beyond in just the last couple days. JPMorgan, in a note to clients, said that so far 86 S&P 500 companies have suspended earnings guidance. Not surprisingly, some in
A man wears a protective mask as he walks past the New York Stock Exchange on the corner of Wall and Broad streets during the coronavirus outbreak in New York City, New York, U.S., March 13, 2020. Lucas Jackson | Reuters Earnings from IBM, Netflix, Coca-Cola and dozens of others are expected in the week
China’s economy shrank at the start of the year for the first time in more than 40 years after the coronavirus pandemic ended an era of uninterrupted growth dating back to the 1970s. Gross domestic product in the first quarter plunged 6.8 per cent year on year, the National Bureau of Statistics said on Friday.
This video explains what the Alligator Indicator is, what it’s for and how to use it. The video includes a demonstration with a chart of real-market prices to show how the indicator may provide information about the state of the market and how to read the indicator’s signals for trading a trend. Try the Alligator
SpaceX CEO Elon Musk speaks at a press conference where he announced the Japanese billionaire chosen by the company to fly around the moon, on September 17, 2018 in Hawthorne, California. Mario Tama | Getty Images SpaceX is launching more often than any other country or company and CEO Elon Musk touted low insurance costs as proof