With an ‘all out’ oil war at hand and no good news on the Covid-19 corona virus it looks like Monday could be a really rock start for the week.
At 5 pm central time the DJIA futures are off around 980 points. West Texas Intermediate crude oil is trading around $30/barrel–a point at which we will probably see further cuts to any oil drilling. Of course this will benefit consumers, but whether the aid to the consumer will out weight job losses and knock on effects is a debatable point.
I am hopeful the market will ‘get a grip’ before tomorrows opening of trading.