The number of active U.S. rigs fell to an 80 year low in May. But a storage capacity shortage will keep a ceiling on oil prices. And slashed production is a woeful signal for GDP and the stock market. The stock market rally seems unstoppable as the world economy begins to reopen. But the latest…
The PlayStation 5, Sony’s next-gen console, is slated for release this year. Rumors suggest a new Crash Bandicoot game will be a launch title. Activision needs to be very careful not to make the same mistake that damaged the franchise in the past. Details about the PlayStation 5 (PS5) remain absurdly slim. Aside from the…
One small trader invested in oil futures and almost drowned in oil. One of the biggest banks in the world went long for too long. One of the most vaunted ETFs has no future left in oil and another is almost broke With crude oil prices going negative for the first time ever, everyone and…
King released the Crash Bandicoot-branded endless runner we’ve all been dreading. The genre has tarnished yet another beloved franchise. Here’s hoping this won’t represent the future of Crash. Crash Bandicoot Mobile is live on Android, marking yet another franchise tarnished by the “endless runner” genre. What happened to Sonic and Rayman is rapidly happening with…
Stock market futures crashed limit down across the board on Sunday as the coronavirus crisis continued. Fueling the capitulation, Fed President James Bullard cited the possibility of a -50% GDP reading in Q2 alongside 30% unemployment. The Dow Jones will face a rocky open unless Congress can somehow pass a funding bazooka to keep the…
Dow futures tumbled more than 700 points Wednesday night, pointing to another volatile start to trading in New York. The U.S. dollar index broke 100.00 for the first time in almost three years. The fastest bear market in history shows no signs of abating anytime soon. In the near term, this means an even stronger…
The coronavirus outbreak coupled with the Saudi-Russian oil price war has created a perfect storm for oil. According to one Wall Street analyst, we could soon see negative oil prices as supply far outstrips demand. As global storage capacity reaches its breaking point, oil producers may start paying customers to take delivery. The oil industry…
Dow futures dropped 1,041 points despite a surprise announcement from Federal Reserve Chair Jerome Powell. The Fed made another emergency rate cut on Sunday, this time all the way down to 0%. Donald Trump cheered this effort, but Dow bulls appear unconvinced. In an incredible move reminiscent of the financial crisis in 2008, the Federal…
U.S. crude futures approached 52-week lows on Tuesday, falling 3.4% to $49.69 a barrel. Brent crude, the international futures benchmark, declined 2.5% to $54.89 a barrel. The International Energy Agency has downgraded its demand forecast for crude due to the coronavirus outbreak. Crude oil resumed its plunge on Tuesday after the International Energy Agency (IEA)…
Donald Trump expects the U.S. stock market to crash if he loses. Bernie Sanders is the current Democratic frontrunner. The avowed socialist has railed constantly at the “rigged” U.S. economy. Since Donald Trump’s election on November 8, 2016, the S&P 500 Index surged over 50% through December 2019. The Dow Jones Industrial Average also added…
