Oil prices continued their steep decline on Thursday, with U.S. West Texas Intermediate crude falling to a 13-month low below $47 per barrel, as fears of the coronavirus outbreak, and what it could mean for crude demand, continues to batter prices. “Current forecasts of crude oil demand have fallen off a cliff. As China is
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Scott Minerd, founding managing partner at Guggenheim, at WEF in Davos, Switzerland on Jan. 22, 2019. Adam Galica | CNBC Guggenheim Partners Global CIO Scott Minerd said Wednesday that stocks could have further to fall as the markets came to grips with the economic impact from the coronavirus outbreak. Minerd, appearing on CNBC’s “Closing Bell,”
President Donald Trump Kevin Lamarque | Reuters President Donald Trump may be livid about this week’s market sell-off, but the rally in U.S. equities since his election is still well intact. The Dow Jones Industrial Average is up 47.7% since Trump’s election through Tuesday’s close, which brought the index’s week-to-date point loss to more than
Virgin Galactic co-founder Sir Richard Branson, CEO George Whitesides and Social Capital CEO Chamath Palihapitiya pose together outside of the New York Stock Exchange (NYSE) ahead of Virgin Galactic (SPCE) trading in New York, U.S., October 28, 2019. Brendan McDermid | Reuters Virgin Galactic Chairman Chamath Palihapitiya thinks the recent rally by Wall Street’s favorite
The Nasdaq-100 Index shed more than 2% on Tuesday, and based on one key technical indicator, it may be headed for even steeper declines. On Monday, the tech-heavy index’s 14-day RSI reading fell below 50, breaking its longest streak above 50 on record, according to data from Sentimentrader. RSI, or relative strength index, is a