Deeply battered oil prices enjoyed a huge snapback on Thursday, though they still remain low.
 | THU, MAR 19, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | MSFT | 143.00 | +2.60 | +1.85% | | AAPL | 244.78 | -1.89 | -0.77% | | CSCO | 37.71 | +0.59 | +1.59% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | F | 4.47 | -0.03 | -0.67% | | BAC | 21.20 | +0.41 | +1.97% | | GE | 6.48 | -0.12 | -1.82% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 39.82 | +0.70 | +1.79% | | MSFT | 143.00 | +2.60 | +1.85% | | AAL | 10.29 | -1.36 | -11.67% | |
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How low can oil go? We may have just arrived at the answer. After a terrifying 60% decline this year, West Texas Intermediate crude snapped back more than 23% on Thursday. That marks its best day ever, writes CNBC's Pippa Stevens. "Prices are elastic and this is the snapback of a historic oversold condition in WTI," said KKM Financial CEO Jeff Kilburg. The worst may not be over for oil as the coronavirus pandemic and the politics of a price war remain unpredictable. Still, a turnaround for the commodity lends hope to battered financial markets. The Dow Jones Industrial Average traded higher, attempting to rebound from it's three-year low. Billionaire investor Ray Dalio sounded a particularly pessimistic note Thursday on CNBC's "Squawk Box." "What's happening has not happened in our lifetime before," the founder of Bridgewater Associates said. "What we have is a crisis." Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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