Oil made a comeback on Thursday, rising up to 30% to around $25 per barrel. Energy companies were especially hard hit in the first quarter amid an ongoing oil price war, making up seven out of ten of the S&P 500’s worst-performing stocks during that period.The Dow and S&P 500 closed out their worst first-quarter performances in history on Tuesday.
“It is unfortunate how bad these numbers are getting, and no one will be surprised if we see a few more terrible readings over the next few weeks.”“The recent stock market decline and continued volatility has accurately reflected the extreme level of jobless claims we’re seeing in the economy,” says Andrew Smith, chief investment officer for Delos Capital Advisors.
skleb1234 Bad news for America
[Update] The stock market rallied after opening lower today, despite a record level of weekly unemployment claims, which offset surging oil prices and added to Wall Street fears about the coronavirus outbreak and its increasingly dire impact on the economy
skleb1234 When the body count starts to roll in so too will the profits. This covid thing has a long way to go and if going to kill the US, literally!
skleb1234 But then surged on a tweet about a cut back of oil production... Oil production trumps record breaking unemployment apparently.
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