Oil prices turn positive but the market remains 'broken'
The price of a barrel of WTI crude to be delivered in May has since turned positive . The contract closes on Tuesday, which means trading is light and most investors are looking ahead to June. The price of a barrel of WTI crude to be delivered the following month is also plunging.
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Asian markets rise, though Nikkei sinks after Japan’s record contraction
Japanese stocks sank while other Asian markets gained Monday after Japan reported a record economic contraction as the coronavirus pandemic weighed on retailing, investment and exports. The Nikkei 225 in Tokyo NIK, -0.82% fell 0.8% after the data showed the world’s third-largest economy shrank 27.8% from a year earlier in the three months ending in June.
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Marketwatch
Warren Buffett's Berkshire Hathaway sold more than $6 billion in stock in April
The billionaire investor's company was widely expected to deploy a chunk of its $128 billion cash pile last quarter, but instead its reserves grew to $137 billion by the end of March. "The amount of investment gains/losses in any given quarter is usually meaningless and delivers figures for net earnings per share that can be extremely misleading to investors who have little or no knowledge of accounting rules,"
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Businessinsider
16 million people just got laid off but U.S. stocks had their best week in 45 years
“Stocks are up because the damage to the economy — evident in claims — is beyond comprehension, while the response of the Fed is easier to understand,” wrote Chris Low, chief economist for FHN Financial, in a note out Thursday after the jobless claims data. In an analysis published Thursday, investor Ned Davis notes that the stock market does better than average when unemployment spikes.
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Stock-market volatility is creating the largest daily price swings since 1929 crash
Further illustrating the degree of daily price swings, the S&P 500 ended a 12-day streak of 1% moves up or down, the Bespoke analysts noted. A 13-day run is longer than anything seen during the 2008 financial crisis and just two shy of the 15 straight days of plus or minus 1% moves seen in October 2002 at the lows of that bear market, they said.
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