Breaking news, updates, and reports on current events.
Trump to buy oil for strategic reserve to aid energy industry: ‘We’re going to fill it’ President Donald Trump on Friday said he’s directed the U.S. Department of Energy to purchase crude oil for the Strategic Petroleum Reserve. The move was made in an effort to assist U.S. energy producers, which have been battered this … Read more
A gigantic spike at the very end after two of the craziest trading days I’ve seen. Here’s how my trades went. But that’s it for me. I’m staying out of this market, it’s just too crazy. By Wolf Richter for WOLF STREET: Holy moly, that was fast and whiplash inducing. Today, the S&P 500 exploded higher by 9.3% … Read more
How will Canadians service $1.56 trillion in mortgage debt plus other debts such as credit cards? What about tenants who can’t pay their rent? By Steve Saretsky, Vancouver Residential Realtor, Stevesaretsky.com: We live in interesting times. I have been fielding a lot of questions regarding the market turmoil and what it may mean for the Canadian … Read more
by beefcake_123 For some of you kids from the Class of 2019 who didn’t graduate during the tail end of an economic crisis and found a job almost immediately, here’s some advice: Do your damned best to kick ass and keep your job. Recession from this virus bullshit is going to come, and those who … Read more
VIX's weekly RSI (using HIGH $) is now at it's highest level ever – higher than during the 2008 crash Fear is at a MAXIMUM. Stay alert for a major upwards reversal in stocks pic.twitter.com/TNzNXvedrD — SentimenTrader (@sentimentrader) March 13, 2020
“To save lives during the Coronavirus pandemic, the Bernie Sanders campaign is suspending door-to-door canvassing.” h/t dr0id
VIDEO: “Police in northeast Spain implement coronavirus lockdown in area with nearly 70,000 residents; people can enter but are not allowed to leave” WATCH: Police in northeast Spain implement coronavirus lockdown in area with nearly 70,000 residents; people can enter but are not allowed to leave pic.twitter.com/dx4qmspmyT — BNO News (@BNOFeed) March 13, 2020
The market was at 27,960 when chief White House economic advisor @larry_kudlow suggested that people “buy the dip.” Anyone who listened has lost 26% in 3 weeks. https://t.co/ikyJQNRpQG https://t.co/7sLcBYkkUp — Tim Miller (@Timodc) March 12, 2020 Anyone that listened to Kudlow has lost nearly 25% since then. h/t builder
● Shot: Don Lemon Goes Absolutely Insane on John Kasich for Refusing to Bash Trump’s Wuhan Virus Address. —Red State, today. ● Chaser: Tapper Fears Dem Voters Are ‘Bunch of Rachel Maddows and Chris Hayess.’ “Wonder why Tapper didn’t call Democratic voters ‘a bunch of Chris Cuomos and Don Lemons?’” —NewsBusters, yesterday. gee… who was president back then? h/t ED
https://twitter.com/HedgeyeDDale/status/1238460537756946440 Dealers are telling me they badly want the $1T in repos, but can't take it. Post-crisis rules, among so many different regulators (Basel 3, Fed, OCC, FDIC, etc) make it nearly impossible for them to take the money. They are telling the Fed their problems. The Fed had no clue. — Jim Bianco (@biancoresearch) … Read more
As far as the stock market is concerned, the world’s publicly quoted companies are worth no more now than they were more than 12 years ago on Halloween 2007 just before the big selloff of the GFC. @johnauthers https://t.co/D7oCTdEipG pic.twitter.com/vqJ7lFjsrK — Adam Tooze (@adam_tooze) March 13, 2020
by b_logan (Source): Yahoo Finance S&P 500 daily closing data (Tool): Tableau
by 80sbabymillennial When an IRA or 401K is rolled over to another provider, your investments are typically sold, a check is issued, and sent either to (a) You or (b) the new institution. I would caution initiating a rollover right now due to extreme volatility. Let’s say that your old plan is liquidated today, right … Read more
by rhetorical_twix Maybe movement from leadership on some of these concerns will help with personal panic that might be showing up in the markets and might provide some relief to investors. The fact that it’s the Treasury Secretary working with Pelosi demonstrates that they do connect what’s happening in the market to some need for … Read more
They also voted to not fund extra respirators for the sick. Democrats are demonic liars. Senate Democrats also voted against increasing access to medical respirators. Now why on earth would Democrats do that at the very same time that they are warning that people are going to die? Any guesses? https://t.co/L1kqH3fJF7 — Candace Owens (@RealCandaceO) … Read more
by Simon Black We certainly live in extraordinary times. Even people who have been irrationally dismissive of the Corona pandemic up until this point finally had to wake up and smell reality yesterday. The NBA. Tom Hanks. European travel ban. Our human brains, while magnificent and inspiring, are also wired in bizarre ways. We’re filled with … Read more
by mark000 DJIA Mega Crashes: 1929 1987 2020 10.17 -9% 10.13 -7% 3.4 -8% 10.18 -12% 10.14 -11% 3.5 -11% 10.21 -16% 10.15 -13% 3.6 -12% 10.22 -14% 10.16 -17% 3.9 -19% 10.23 -19% 10.19 -35% 3.10 -15% 10.24 -21% 3.11 -20% 10.25 -21% 3.12 -28% 10.28 -31% 3.13 10.29 -39% 3.16 10.30 -32% 3.17 … Read more
by DontMicrowaveCats I’ve worked from home full time for over 3 years. I often laugh at all the ads I see promoting WFH full time as the ultimate dream. Or posts on Reddit talking about how shitty it is for employers to make them come into the office. Yea, it has plenty of perks. And … Read more
As #coronavirus sweeps the globe, keep in mind a Goldman Sachs analyst told investors to AVOID investing in cures for diseases because there's much more profit in treating symptoms while the people remain sick. This is how capitalism works. pic.twitter.com/8CNmPoGAKX — Lee Camp [Redacted] (@LeeCamp) March 9, 2020