NewsWatch: U.S. oil benchmark slumps below $11 a barrel, on track for biggest 1-day drop in history, as storage space dwindles

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MARKETWATCH FRONT PAGE

The May futures contract for U.S. crude oil extends losses Monday, touching the lowest level since the late 1990s, as fears about a shock to demand due to the coronavirus pandemic and worries about a lack of storage looks set to hammer the commodity to start the week. See full story.

The S&P 500 may slump below 2,000 by summer, even with the Fed’s help, predicts economist

“You’ve got a situation where people are conditioned to the idea that somehow the stock market will always go up if the Fed is on its side,” says Charles Dumas of TS Lombard. See full story.

Earnings are set for their biggest dive since late 2009 — and it gets worse from here

The S&P 500 index is set to suffer the worst quarter for earnings since the 2008 financial crisis, and it’s likely to get a lot worse because these results will barely show the impact of the COVID-19 pandemic. See full story.

This ‘long-short’ investor cashes in as airline, hotel and casino stocks crumble

Mitch Rubin’s RiverPark Long/Short Opportunity Fund is up about 15% this year, while benchmark indexes are in the red. See full story.

‘I was punished for being responsible. I filed my 2019 taxes early — and received almost no stimulus check’

‘Is there anything I can do? I find this very unjust and poorly thought out.’ See full story.

MARKETWATCH PERSONAL FINANCE

‘Is there anything I can do? I find this very unjust and poorly thought out.’ See full story.

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