Get ready for a lot of rumors, It’s NFL Draft Week. May oil contracts went negative. esports popularity continues to skyrocket. Here are the stories shaping sports and business for Monday April 20.
Let’s Talk Football
It is NFL Draft Week and while team scouts, general managers, and coaches have been preparing for the last year for this week’s big event, NFL writers, reporters, and analysts are using the spectacle’s popularity to grab the attention of sport deprived fans.
Get ready and buckle up because rumors are running rampant. Like all rumors, some lead to actual developments while others deserve little to no attention. But that’s the problem. Outside of listening to a handful of trustworthy reporters, it becomes a guessing game as to which rumors actually have some truth.
Of course it doesn’t help that teams leak out false reports in hopes of confusing their counterparts in an effort to gain negotiating power. The 49ers, Falcons, Giants, Jaguars, and Patriots have all been rumored to be in active trade talks for players or picks. The good news is all these rumors will come to rest as the NFL Draft kicks-off on Thursday April 23.
From Sports Illustrated: Joe Burrow's Winding Path to Becoming the No. 1 NFL Draft Pick
A Coronavirus Update and a Look at Oil:
There are over 2.4 million cases of the coronavirus worldwide, with over 167,000 deaths, according to data from Johns Hopkins.
There are over 760,000 cases in the U.S., with over 35,000 deaths.
New York has 242,000 cases, with over 13,000 deaths.
Spain has over 200,000 cases, with over 20,000 deaths.
And Italy has over 181,000 cases with over 24,000 deaths.
Gov. Andrew Cuomo said that 478 people died in New York in the past day, which is the lowest single-day death toll in over two weeks.
However, the markets are being driven lower in intraday trading by oil. The U.S. oil contract plunged 300% before closing, settling at a negative $37 a barrel.
This is the first time in history that oil has gone negative.
This drop is caused by traders selling the nearest oil futures contract, which expires Tuesday. The root cause of this is due to the slump in demand because of the coronavirus pandemic.
Note: This segment was filmed before the U.S. Oil May contract closed down negative $37.
From TheStreet: Stock Market Today With Jim Cramer: Oil at Negative Prices
Let’s Talk eSports
The industry is absolutely exploding thanks to people self-isolating and quarantine during this pandemic. According to a report from Twitch Tracker there was 2 billion hours of video games streamed on twitch since the start of the pandemic.
The average concurrent viewers jumped from 1.6 million on March 1st to 2.7 million on April 19th. Professional sports leagues like the NBA and MLB are jumping in on the e-sports bandwagon. The MLB partnered with Twitch to stream an MLB The Show tournament featuring players from all 30 Major League teams.
With no sports on TV, the trend of watching people play video games is going to continue to reach all time highs. Amazon owns Twitch. Amazon stock trades around $2,400 a share, and is up around 28% over the past year.
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