Oil prices continue their roller-coaster ride. And get ready to take your *own mug to Starbucks. Everyone expects the fed to raise rates for the first time in three years when it meets tomorrow.
Meanwhile a strong day on the markets.
The Dow jumped 599 points to close at 33,544
The Nasdaq was up almost 3%, gaining 367 today.
The S&P gained just over 2%, up 89 points.
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Oil is suffering what one analyst calls “a spectacular collapse” while nearing bear market territory today. Just a few days ago, oil hit a 14-year high. Today, oil fell another 7% at the closing bell, to $95 / barrel.
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Some 37-million people are in lockdown in China after another COVID outbreak there. Many fear it’ll disrupt the supply chain all over again, from cars to iPhones. One analyst says “it’s going to be really bad.”
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And your next “cup of joe” from Starbucks might come in a reusable mug. The coffee company runs through 7-billion disposable cups each year. A new test – starting next year, you can use your own reusable cup for your Starbucks order. The goal is to cut carbon emissions.
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From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.