News Formal

Oil agreement could support stocks, providing a floor

  • 📰 Reuters
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

An agreement by oil producing nations to cut output by a record amount may sustain a recent bounce in stocks, though stay-at-home restrictions and closures tied to the coronavirus pandemic continue to weigh on the global economy.

FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant

If it was a bigger cut “then you would’ve seen oil prices strengthen to $30 very quickly and that would be helpful for equity markets but we didn’t get that,” said Peter Cardillo, chief market economist at Spartan Capital Securities. If the global economy stays closed for another few months “this 9.7 million reduction will be meaningless because people aren’t driving,” Cardillo said.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

I doubt it. After a bit of joy. Reality will settle in and oil will continue to fall further before bottoming. Our economy has already been destroyed. Companies of all sizes are getting squeezed. Small companies will disappear. Almost everyone pigged out. God bless🙏🙏

Government's should provide a floor for everyone. FUCK stocks! People are dead, Dead, DEAD!!!

First you have to solve the demand! Then we’ve talking

👍💪

Fire whoever wrote this garbage.

Are you fucn joking 😂

Me gustaría saber el precio que pagará México a Donald Trump por el capricho descabellado de López Obrador.

Or not, just saying.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 2. in SE

Sverige Senaste nytt, Sverige Rubriker