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 ...
Well, explain it to me.
As I understand it, tariffs help domestic producers of goods by raising the price inside the country. So, some of the strictly domestic companies would be helped. But those are the small ones.
But if a US company is global, with production going all over the world, and can’t compete with temporarily low prices from Saudi Arabia and Russia, who have low production costs, how will domestic tariffs help that company?
I may leave extra money at the pump when I fill up because I feel sorry for them. We need to make donations to Exxon/Mobil.
"I still have a ~8 week Tactical Reserve of Diesel.
All I can say at this point is "whatever".
what’s next, calling subsidies for the “hardest hit”? No one should be guaranteed steady income for life. Risks exist. You can’t throw a ball in the air and expect it to stay there forever.
This whole thing is a first class set up. It has been used to try to destroy the voter’s confidence in the Trump administration.
Think folks, as of tonight, nation wide there 523 cases of the illness and 22 dead, in a nation of 372 million people. The sky isn’t falling, there is no wolf, the volcano is not erupting. It is not a major problem. Those that die are aged and/or ill. Healthy people, in many cases, don’t even know they have it. It’s a scare tactic. The CDC predicts that at least 12,000 Americans will die from the flu in any given year. Roughly, 61,000 people died in the 2017-2018 flu season.
https://en.wikipedia.org/wiki/2017%E2%80%9318_United_States_flu_season
Influenza has already taken the lives of 10,000 Americans this season, according to the U.S. Centers for Disease Control and Prevention. At least 19 million have caught the flu, and an estimated 180,000 became so ill they landed in the hospital. And these are not coronavirus flues. It’s a political tool, not a pandemic.
rwood
In addition the tariff will help balance the Federal budget and lower the trade deficit. Tariffs are WIN - WIN - WIN.
LOL - me too. It breaks my heart when I don’t have to pay 5 dollars a gallon.
Spot on.
THIS IS NOT THE SPANISH INFLUENZA!
Inhale deeply, then repeat at the top of your lungs:
THIS IS NOT THE SPANISH INFLUENZA!
Nobody Expects the Spanish Influenza!
For what it’s worth, I would do the same if I had the facilities, regardless of how low the price of gas went. It is a wise preparedness move.
Free Republic use to be a meeting place for concerned patriots but since Trump’s election I am seeing the dark side of situational patriotism and “conservatism”.
Random craziness. Lower oil prices are a major economic stimulus on top of the easing in China and the Fed’s 50 basis point cut. There will be a lag in the economy’s response, but a response there will be. Oddly enough, the fact that oil averaged over $80 in the 2009 to 2014 time frame really slowed down the economic recovery. Oil in the 30’s will be extremely beneficial to the US economy. Frackers will be hurt, but manufacturers will save a ton of money in transportation and materials costs.
Were you trading?
Truly amazing to sit back and watch it unfold.
Had a guy I worked with tell me..Gasoline will NEVER be lower than $2 again...
I laughed and said...Yes it will be....And that was in the early 2000's...Like 2002...or so. It got lower than $2 a gal....
Had a relative ask me what to buy...he had a load of $$...I told him RRC...
It was cheap at the time...and he didn't do it.This too will pass....
The Sauds will back down... too much instability in
‘the family’...
All Mondays are back for quite some time.
If people take their money out of stocks, bonds and oil, where is that money going?
Money market?
“Yeah, I went with “don’t fight the tape” and didn’t get out fast and thoroughly enough.”
gonna be some AMAZING buying opportunities for the long-term though, once this thing settles out as lots of babies are being thrown out with the bathwater ... i’ve been waiting for quite a while to buy some Royal Dutch Shell Class B shares for cheap ... i want the dividend ...
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