screwed up’ than the stock market is currently reflecting, warns billionaire investor

‘We’re only down 15% from the all-time high of Feb. 19… it seems to me the world is more than 15% screwed up.’ That’s Howard Marks, the billionaire founder of Oaktree Capital, commenting in a CNBC interview Monday on what he sees as a huge disconnect between what the coronavirus pandemic is doing to the global economy and what we’re seeing in the stock market. “It took seven years to get back to the 2000 highs in 2007. It took 5½ years to get back to the 2007 highs in late 2012,”…

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Stock market investors should pay attention to baffling coronavirus data from Boston

Referenced Symbols DIA-2.38%  DJIA-2.44%  SPY-1.70%  SPX-1.78%  GILD-3.25%  AMZN+0.78%   MSFT-1.98%   AMD+0.65%   TSLA-0.99% Investors may not have noticed Boston coronavirus data that goes against the prevailing wisdom. In Boston’s Pine Street Inn, a homeless shelter, 397 people were tested for coronavirus and 146 tested positive but showed no symptoms. The Centers for Disease Control is reviewing the data. There are positive and negative implications for stock market investors — I will discuss those later in this column. The takeaway for investors is that a lot is still unknown about the coronavirus.…

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US STOCKS-Wall Street drops as U.S. crude futures prices turn negative

(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.) * U.S. crude front-month drops to record low -$37.63 a barrel * Indexes: Dow -1.79%, S&P 500 -1.27%, Nasdaq -0.46% (Updates with afternoon trade) By Noel Randewich April 20 (Reuters) – Wall Street fell sharply on Monday after U.S. crude futures turned negative for the first time in history, underscoring the chaos the coronavirus pandemic has unleashed on the global economy. The S&P energy index tumbled 2.8% after the front-month May U.S. West…

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US Oil Prices Plunge As Storage Runs Out, Analyst Says Oil ETF Investors ‘Likely To Burn Their Fingers’

The shares of several oil stocks were trading lower Monday, after the price of oil fell significantly down to $11 per barrel as storage for the commodity runs out and demand remains depressed. WTI Crude was down 40.72% at $10.83 at the time of publication. Oil prices plunged 40%, the biggest one-day price plunge and many investors are jumping into investing in oil ETFs. Most active traders are now focusing on the June contract (CLM0), the most active in traded volume and open interest, Ole Hansen, Saxo Bank’s head of commodity strategy,…

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