3.03 - oil is going to grow because of the outut cuts
The situation seen around the markets today is much jollier one than we have got used to seeing. Yes. Finally we are seeing some recovery in the markets. It is due to the hopes that G7 countries are going to be able to somehow stimulate the markets and get them out of the hole that they appeared in because of the coronavirus.
But indices and shares were not the only ones to gain and recover today. Oil is also on the rise as OPEC with hopes that OPEC countries are going to cut the output numbers this week. This will surely influence the supply and as a result we might see prices for oil soar even higher. And boy, do they need that. Last week both of the major oil plummeted down to the levels of 2016 and that scared a lot of investors. But it seems that we do not have the reasons to panic anymore.
But what can happen if G7 fail to stimulate the markets? What if the hope that is raising the markets right now are all in vain? What is we are going to come back to the failing numbers next week? Well, that is a possibility I am not going to lie here. We might just see a lot of fails and a lot of drops next week. After recoveries so beautiful we might end up in the same place we started – lower.
It seems that there might be a slight reason to panic today. But we need to do everything in our power not to give in to that urge. We have to understand that the markets are stronger than us and that if the virus panic is going to take them down, they are going to go down. And there is nothing we can about it.
Here are the numbers for today:
Topix lost 0.7 percent.
Kospi added 1.5 percent.
Shanghai Composite advanced 0.9 percent.
Hang Seng from Hong Kong increased 0.2 percent.
S&P 500 futures lost 0.1 percent.
Euro added 0.9 percent - $1.1148.
Pound decreased 0.35 percent - $1.2781.
Yen grew 0.3 percent – 107.82 per dollar.
Canadian dollar nudged a little higher - $1.3339.
Tesla increased 11.3 percent - $743.62.
Apple recovered 9.3 percent - $298.81.
Facebook recovered 2.1 percent – $196.44.
Amazon nudged 3.7 – $1953.95 per share.
Google advanced 3.5 percent - $1386.32.
WTI grew 0.8 percent - $47.85 per barrel.
Brent recovered 0.45 percent - $52.99 per barrel.
Gold increased 0.7 percent - $1599.1 per ounce.
Silver grew 1.3 percent - $16.91 per ounce.
Platinum increased 1.6 percent – $873.1.
Palladium added 0.7 percent - $2545.5 per ounce.