Sinking Oil, Facebook Tracking, and 420
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 20 April 2020
⏱️ 21 minutes
🧾️ Download transcript
Summary
Oil prices hit a 21-year low. United Airlines reports a $2.1 billion quarterly loss. And Facebook unveils a new tracking map for COVID-19 symptoms. Motley Fool analyst Emily Flippen discusses those stories and weighs in on the meaning of 420 and the future of cannabis stocks.
Transcript
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| 0:00.0 | It's Monday, April 20th. |
| 0:03.8 | Welcome to Market Foolry. |
| 0:05.0 | I'm Matt Greer and joining me is Motley Fool analyst Emily Flipping Emily. |
| 0:09.5 | Emily, how are we doing this Monday? |
| 0:12.3 | I am hanging in there. It does not feel like a Monday. Time is |
| 0:16.3 | meaningless to me, but so far my Monday has been alright. Isn't that the truth? It's just day and night. And maybe weekends, do weekends feel it all different for you or is it just day and night? |
| 0:28.0 | We've been doing so much live streaming here at the Fool that I'm live streaming a lot on weekends too so it really is just |
| 0:34.4 | day and night for me at this point. Okay well this day April 20th 420 is a date of |
| 0:41.6 | significance in some circles and we're going to talk about that later |
| 0:44.3 | Emily as we talk cannabis and we'll also talk some Facebook they've got a new |
| 0:48.9 | gaming app among other things but let's begin with the big picture. Now looking at the markets |
| 0:54.8 | right here Emily the Dow really not doing a lot only down around 1% at the time of |
| 0:58.9 | our taping but the big headline oil prices dropping to a 21 year low. |
| 1:05.0 | Emily of course, demand is way down and we've got these ongoing questions |
| 1:09.4 | around when and how states might reopen, |
| 1:13.0 | what do you make of it all? |
| 1:15.0 | It's amazing that the Dow hasn't gone down more than it is, |
| 1:18.0 | because US crude oil has fallen 83% since January alone and the futures contracts that we're seeing in the |
| 1:26.9 | market today have fallen 41% today alone. So there is serious concerns in the energy market and the oil market in |
| 1:35.9 | particular just because demand like you mentioned has fallen off a cliff. So the true volatility we're seeing in the market today is because |
| 1:45.4 | futures contracts are expiring on Tuesday and more importantly people are just concerned |
| 1:51.9 | about where they're going to store oil. So when people hear |
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