June Oil Could Also Go Negative

The stock market is up nicely this morning. In fact, the index isn’t too far from a fresh six-week high. (The high from the Friday before last was particularly high.)

This week will be all about earnings. The Federal Reserve meets this week on Tuesday and Wednesday. The policy statement will be out on Wednesday afternoon.

This morning, General Motors (GM) said it will suspend its dividend and all share buybacks. I can’t say I’m surprised.

The price for oil is down again today. The price for the May futures contract famously went negative. There’s a chance that June might do the same. Storage is still a big issue.

Eagle Bank (EGBN) has been hot for us lately (there’s something I don’t write often!). EGBN is up for the fifth day in a row. It’s up 14% over that time.

Posted by on April 27th, 2020 at 11:01 am


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