Black Monday

[Crypto Crude]

Next big crisis is a food famine set to double by end of 2020 but next few months ... 265 million people are at risk... 300,000 deaths per day expected... major famines in more than 30 countries...
cc

[bull....]

well the pummelling of oil the last 2 days over all forward contracts finally shows the oil market has accepted that there will not be a v recovery anywhere. wonder if the contango will narrow now?

[dobby41]

Next big crisis is a food famine set to double by end of 2020 but next few months ... 265 million people are at risk... 300,000 deaths per day expected... major famines in more than 30 countries...
cc

Are they countries that anyone cares about?
Sadly I suspect not.

[King1212]

NZ is not rely on oil. companies have nothing to do with oil. Whether oil negative or not...we still pay full price as 50% is tax. So ...we are on a good position

[sb9]

A2 and SPK update today might save the day for our local exchange...

[Entrep]

2750 support becomes resistance. I think this is the start of the real downtrend.

[King1212]

Senate passes $484 billion coronavirus bill for small business and hospital relief, testing

That will bring green tmrw on the Dow

[Balance]

A2 and SPK update today might save the day for our local exchange...

Exactly - it must be a big sobering surprise to the doomsday merchants (who missed out on the big rally in the last few weeks and are pleading for the market to drop) that there are many companies on the NZX which are doing exceptionally well in the current environment.

ATM obviously stands out but so do FPH, Ebos, RBD etc.

Can't be bothered re-writing so :

Don't look at the index which is skewed towards several index-heavy weighted stocks like ATM, FPH, EBO, the relatively resilient utility sector (energy, ports, internet), the essential industry healthcare operators & retirement villages and the agricultural sector (SCL, SEK, PGW).

Real damage done is not the index - but the stocks exposed to the carnage like Air NZ, THL, SKC, MCK, SKY etc.

The NZX index has NEVER been a fair reflection of the NZ economy.

[Balance]

Market is due for a breather in any case so...

Enjoy the view!

PS. Oil crashing is of course excellent news for NZ - we import net 50m barrels a year so compared to a year ago, NZers will save US$2.5 billion (NZ$4.2 billion) a year.

[dobby41]

PS. Oil crashing is of course excellent news for NZ - we import net 50m barrels a year so compared to a year ago, NZers will save US$2.5 billion (NZ$4.2 billion) a year.

I thought Brent crude was only down 8% or something and back to where it was a few weeks ago?
It's the West Texas stuff that's crashed and we don't use (or follow) that.