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Stock market today April 20, 2020

Stock market today closed lower, US oil prices went negative

At the close today the US stock market latest update is:

S&P 500: 2,827.09,-47.47(-1.65%)
Dow 30: 23,688.58,-553.91(-2.28%)
Nasdaq: 8,560.73,-89.41(-1.03%)
Russell 2000: 1,212.46,-16.64(-1.35%)
Crude Oil: -38.0000,-56.2700(-307.99%)

The crude oil futures contract for May 2020, and product code CLK20 expiring tomorrow, April 21, 2020 had a Day’s Range today of -40.3200 – 17.8500.An explanation about this wild move today for oil prices is “The move in oil futures has to do with factors such as storage limits and expiring contracts.”

Source: https://www.barrons.com/articles/oil-turned-negative-may-contract-june-commodities-markets-storage-delivery-51587411176?siteid=yhoof2&yptr=yahoo

For now there is a global oversupply for oil which adds selling pressure to oil prices.

Stocks today

Occidental Petroleum Corporation (OXY) stock was among the most active stocks today with a stock price of 12.59-1.04 (-7.64%), at the close.

Oil ETFs tank today

Major oil ETFs were under selling pressure today. United States Oil Fund, LP (USO) ETF closed at 3.73-0.48 (-11.4014%), ProShares Ultra Bloomberg Crude Oil (UCO) ETF closed at 1.35-0.23 (-14.557%) and iPath Series B S&P GSCI Crude Oil Total Return Index ETN (OIL) ETF closed at 3.73-0.32 (-7.9012%).

Stock market data: Yahoo Finance

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