Crude down 8% to under $12, but it doesn't matter. The contract will probably go negative in a week or 2.
S&P up 34% in 5 weeks . 5 good yrs of gains in 5 weeks.I had a subject a few weeks back how the rally is more impressive than the decline and many laughed . Nobody’s laughing now . The mkts no lower than 6 months ago after an 11 yr super bull. Double black swan of virus and oil and hardly phased the mkt . Twilight zone .
What it really means: "I didn't buy the lockdown but please God let there be a selloff for me and the rest of us in cash to get back in." Not to pick on him but this is what the real sentiment is out there.
Company's should be selling massive stock into this once in a lifetime run to raise $100's of billions of cash. For instance Uber's up 130% in 5 weeks. They should raise $5 billion of cash immediately. Who cares if it knocks their stock back to $23 when it was $13 5 weeks ago.
I think this stock surge on the economy reopening is a little redundant. Its obvious its going to open soon.