Oil prices and U.S. stock futures dipped in early Monday trade as a landmark agreement by OPEC and its allies to slash output by a record amount failed to give investors any cause for lasting optimism about the economic outlook.
FILE PHOTO: A pedestrian wearing a face mask walks near an overpass with an electronic board showing stock information, following an outbreak of the coronavirus disease , at Lujiazui financial district in Shanghai, China March 17, 2020. REUTERS/Aly Song
A bigger question for investors, however, is whether the novel coronavirus pandemic, which has ravaged global economic growth, will soon peak in the United States and Europe, as had been hoped. That includes contributions from non-members, steeper voluntary cuts by some OPEC+ members and strategic purchases by the world’s largest consumers, sources said.
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