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0.00180917920396113 0.000571319748619197 0.000190439916206399 0.000382784231574926 -0.00857360502761383 -0.0171395924585794 -0.0151628261283566 -0.0192344315368502
Stock impact report

Oil giveaway brings out the bears [Reuters]

Prudential Financial, Inc. (PRU) 
Last prudential financial, inc. earnings: 2/4 04:18 pm Check Earnings Report
US:NYSE Investor Relations: investor.prudential.com
Company Research Source: Reuters
Oil giveaway brings out the bears SHANGHAI/SINGAPORE (Reuters) - The crash in U.S. crude prices has turned a reliable commodity less than worthless and given fresh urgency to bearish voices, who say it sounds alarm bells for global growth and are bracing for a catastrophic collapse in asset prices. Markets are already unnerved at the spectre of traders paying to give away May futures contracts for West Texas Intermediate crude CLc1, as storage tanks at the delivery point in Oklahoma quickly fill with unused fuel. But some market participants believe the transformation of “black gold” into a liability is more than a bet gone wrong, and rather heralds a new round of deflation and financial destruction as the COVID-19 pandemic wrecks the world economy. “This is part of the deflation process,” said Murray Gunn, head of global research at market forecasting firm Elliott Wave International. “At this juncture, our analysis suggests that this is very probably the second wave of a much bigger Show less Read more
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