Posted on 03/08/2020 8:12:46 PM PDT by david1292
Sharp declines in U.S. stock index futures triggered trading curbs meant to slow panicked markets as the price of oil fell by more than 30 percent and bond yields crashed amid heightened worries over the coronavirus.
E-mini futures on the S&P 500 dropped by 5 percent in overnight trading Sunday, triggering automatic trading curbs that kick-in when the price falls below 5 percent of the closing price of the referenced index Friday. As a result, the futures contract cannot trade at a lower price until the cash market opens at 9:30 a.m., although trades may still be made at higher prices.
The last time futures trading hit the overnight limit was election night of 2016, when markets initially sold off following the news that Donald Trump had won the election. That selling pressure quickly subsided and the major indexes closed up by around 1 percent or so the following day.
The E-mini is an electronically traded futures contract based on the underlying S&P 500 index. The contracts are around one-fifth the size of the standard S&P futures contracts, earning them the monicker mini. They are considered highly liquid and are widely traded but they have, in a few past episodes, been prone to so-called flash crashes.
Futures for the Dow Jones Industrial Average and the Nasdaq Composite remain above the level that would trigger curbs in those contracts.
(Excerpt) Read more at breitbart.com ...
Yes, that was correct.
Yup. Pass it on to the WH.
“low to negative interest rates. “
the real danger to dividend stocks is if interest rates go up and bond yields start to look good compared to dividends ...
If the demand is there why isn't it being sold domestically today?
those products would use domestic oil to making make more oil producing jobs.
Who's going to buy those products when they're 65% more expensive than the same products from elsewhere?
Where did 65% come form?
Your $50 oil is 65% higher than the current market price of $30.
LOL! a there is no direct connect or liner relationship between oil prices and pump prices. The difference in a gallon of gasoline at $50/bbl of crude vs $30/bbl of crude is pennies on the dollar.
The Link Between Crude Oil And Gasoline Prices
LOL indeed.
This chart shows spot prices for gas at the refinery so it excludes the taxes, transportation and marketing costs that can break the correlation.
But since we're talking about bulk exports it's much more appropriate than pump prices.
BTW, there are lots of other petroleum-derived products exported that are going to show the same correlation to crude prices.
Let see oil is at $100+/bbl and gas is around $3.50/gallon. At $50/bbl gas is just below $2.00/gallon. So for ever $50/bbl increase in crude gas goes up $1.50. So here’s the relationship, every time crude goes up $10/bbl gas goes up $.30/gallon. Or put another way every dollar increase crude gas foes up .03/gallon. Not a crises. A $20.00/bbl tariff would mean a .60/gallon increase in pump price...
Not sure why youre talking about pump prices. We were discussing bulk petroleum product exports.
Gas has.
Looking at the wholesale prices, the falloff is comparable between gasoline and diesel. As a matter of fact the price premium for diesel is less than it was.
killed about 3,000 today.
Do NOTwait around to hear THAT on the 'news'!
So, what is the current state with the WuhuVirus in Canada?
Especially in Vancouver, B.C.?
Nice chart.
Please keep us appraised of the comparison as the days go on.
OMG I watch Fox Business but I am telling you Charlie GASBAGarino is just rally PISSING ME OFF does this guy EVER have anything positive to say EVER????
Interesting times ahead...
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