Daily Comment
Daily Comment (April 24, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Equity futures are pointing to a modestly higher opening; oil prices are also higher. We update the COVID-19 news. Here are the details: COVID-19: The number of reported cases is 2,721,354 with 191,231 deaths and 745,605 recoveries. In the U.S.,… Read More »
Daily Comment (April 23, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Ramadan begins this evening. Equities are steady this morning as financial markets digest historically weak economic data out of Europe. Meanwhile, oil prices continue to recover; we update our views on oil in this week’s Weekly Energy Update. We also… Read More »
Daily Comment (April 22, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Today is Earth Day and also Lenin’s birthday. But please don’t accuse us of implying a connection! Rather, we’re focused today on the latest coronavirus news, including the Senate’s passage of new PPP funds, and signs that oil prices may be stabilizing.… Read More »
Daily Comment (April 21, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Tuesday! Or if not “happy,” at least things are “interesting.” U.S. oil prices yesterday not only went negative, but deeply negative. As always, we discuss the coronavirus crisis and its latest implications below, along with reports of a new government in… Read More »
Daily Comment (April 20, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning and happy Monday! Equities are lower this morning, but the market catching most of the attention is oil. In equities, there is a large short position developing against the S&P 500. We update the COVID-19 news. Here are the details:… Read More »
Daily Comment (April 17, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning and happy Friday! Equities are rebounding this morning on a positive drug trial. China’s GDP turns negative. We update the COVID-19 news. Here are the details: COVID-19: The number of reported cases is 2,169,022 with 146,071 deaths and 522,264 (yes,… Read More »
Daily Comment (April 16, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Equities are rebounding this morning. We update the COVID-19 news and initial claims. The Weekly Energy Update is available. Here are the details: COVID-19: The number of reported cases is 2,076,015 with 138,000 deaths and 522,881 recoveries. Here is the… Read More »
Daily Comment (April 15, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Today’s risk-off stance in the markets comes as we’re finally getting earnings and economic data that more fully reflect the impact of the coronavirus crisis. Several figures have come in worse than anticipated (see below), tempering the recent positive vibe from government… Read More »
Daily Comment (April 14, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Today’s uptick in the markets appears to stem in large part from chatter about COVID-19 lockdown restrictions being eased in the coming weeks. Of course, other data shows that in some countries new virus cases and deaths are still rising strongly, so… Read More »