Futures lower, Buffett dumps airlines, states reopen

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Warren Buffett

Gerry Miller | CNBC

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7:41 am: Coronavirus update

The fast-spreading coronavirus has infected more than 1.15 million Americans, more than any other country, according to Johns Hopkins University. U.S. President Donald Trump said on Sunday he was confident that a vaccine would be available by the end of 2020. More than 3.5 million people have now been infected worldwide by the coronavirus and over 247,000 people have died. Italy saw a slowdown in daily cases over the weekend. – Fitzgerald

7:38 am: Buffett couldn’t find anything to buy

The

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Oil ETF, USO, dumps plunging June oil contract as Cramer says hedge funds are going for the kill

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The United States Oil Fund dropped more than 15% on Monday after it announced its latest structural change in a desperate attempt to stay above water. With losses mounting in the fund, which trades under the ticker ‘USO’ and is popular with retail investors, Jim Cramer said he wishes investors “the best of luck.”

On Monday USCF, the fund’s administrator, said that over the next three days the USO will sell all of its West Texas Intermediate contracts for June delivery, in favor of longer-term contracts. The fund’s rough breakdown will now be as follows: 30% July contract, 15% August

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