Oil drop saps gains as Wall Street fades late

The S&P initially appeared poise to add to a 7% jump on Monday, after health officials said the pandemic may kill fewer Americans than indicated in recent projections. Governor Andrew Cuomo said New York, the epicenter of the virus in the United States, was nearing a plateau in the number of patients hospitalized.

Still, a decline in oil prices steepened, as U.S. crude settled down more than 9% as supplies swell and investors tempered expectations for a quick agreement on output cuts between major producers. Investors also braced for worsening economic data and corporate earnings in the coming weeks. The S&P 500 is up 18.9% from its March 23 intraday low, but remains 21.5% below its mid-February record high as methods designed to contain the virus quashed demand across a swath of industries such as airlines, automakers and hotels.

Exxon Mobil throttled back a multi-year investment spree in shale, LNG and deep water oil production, saying it would cut planned capital spending this year by 30% as the pandemic saps energy demand. FILE PHOTO: A nearly deserted Wall Street and the steps of Federal Hall are seen in lower Manhattan during the outbreak of the coronavirus disease in New York City, New York, U.S., April 3, 2020. REUTERS/Mike Segar

Ya think?

Investors😂

The deep state media puppets are so happy...

The world is still trying to shut down and shelter at home. Why is Wall Street rallying?

RT : Dow gives up a more than 900 point rally to close with a loss

Is it crazy to think that just keeping the DOW around 20,000 is actually reassuring? I mean, who remembers the DOW at 5000?

getting used to it !!! $ES disaster lol !!! let´s pump it again tomorrow algos !!!!!

Economic war is coming

What part of winning is this?

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