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Market uncertainty is back

Volatile oil prices. China tariffs. Market swings.BlackRock executive Rick Rieder will address a full agenda o...

Posted: May 30, 2018 6:42 PM
Updated: May 30, 2018 6:43 PM

Volatile oil prices. China tariffs. Market swings.

BlackRock executive Rick Rieder will address a full agenda of topics on CNNMoney's "Markets Now" on Wednesday.

Rieder is a managing director and the global chief investment officer of fixed income for BlackRock. He joins CNNMoney anchor Maggie Lake during an interesting week.

It's been a volatile period for oil. Prices surged to their highest level in over three years last week. Now prices are slumping. US crude oil futures have dropped by nearly 10% to trade around $66.50 per barrel, down from about $73 last week.

Prices fell after Saudi energy minister Khalid Al-Falih said he was in intensive discussions with Russia and other OPEC nations to pump more oil to ease global supply concerns.

Rieder has argued that if the OPEC and Russia production cuts remain in place, and if other conditions are upheld, crude oil could remain in the $70-range - and that high price might not be so bad for consumers.

On Monday, Rieder had called OPEC's and Russian oil production as a "pillar" or support for energy prices. But he tweeted last week that the pillar "appeared to show cracks."

Related: Oil prices are falling fast. Here's why

On Tuesday, the White House said it plans to impose 25% tariffs on $50 billion worth of goods from China. The government added that it will place new limits on Chinese investments in US high-tech industries.

Some business leaders have warned that the tariffs could result in a trade war, which could raise prices on goods and end up hurting consumers.

Also on Tuesday, the market dropped around 400 points following a political crisis in Italy.

Despite all this uncertainty, Rieder still says there are opportunities in this market.

"Considering a lack of discernible trading momentum, heightened volatility and a diminished ability to hedge, one might feel an overt pessimism toward today's market opportunity set," he wrote in a blog post last month. "Not us; we perceive a half-full glass."

Related: Watch 'Markets Now' here every Wednesday at 12:45 p.m. ET

CNNMoney's "Markets Now" streams live from the New York Stock Exchange every Wednesday at 12:45 p.m. ET. Hosted by Lake and CNNMoney editor-at-large Richard Quest, the 15-minute long program features incisive commentary from experts. Recent guests include former Chrysler and Home Depot CEO Bob Nardelli and Bitcoin bull Mike Novogratz.

You can watch "Markets Now" at CNNMoney.com/MarketsNow from your desk or on your phone or tablet. If you can't catch the show live, check out highlights online and through the Markets Now newsletter, delivered to your inbox every afternoon.

- CNN's Alanna Petroff, Donna Borak and Nathaniel Meyersohn contributed to this report.

Minnesota Coronavirus Cases

Data is updated nightly.

Cases: 604608

Reported Deaths: 7642
CountyCasesDeaths
Hennepin1249941780
Ramsey52516897
Dakota46848471
Anoka42782458
Washington27433291
Stearns22559225
St. Louis18142313
Scott17552137
Wright16382149
Olmsted13401102
Sherburne1202495
Carver1067548
Clay826492
Rice8203110
Blue Earth762644
Crow Wing681795
Kandiyohi668185
Chisago620052
Otter Tail586284
Benton582998
Goodhue483974
Douglas475681
Mower470533
Winona461351
Itasca459963
Isanti440164
McLeod430861
Morrison424862
Beltrami407862
Nobles407550
Steele397816
Polk389072
Becker386755
Lyon363853
Carlton353056
Freeborn347133
Pine334923
Nicollet331345
Mille Lacs311854
Brown307940
Le Sueur297326
Cass286232
Todd285633
Meeker263443
Waseca238023
Martin235333
Roseau211221
Wabasha20793
Hubbard196641
Dodge18793
Renville182846
Redwood176539
Houston174616
Cottonwood167124
Wadena163423
Fillmore157610
Faribault154819
Chippewa154038
Pennington153820
Kanabec146828
Sibley146810
Aitkin138937
Watonwan13579
Rock128719
Jackson122812
Pipestone116726
Yellow Medicine115020
Pope11306
Murray107110
Swift106918
Koochiching95418
Stevens92411
Clearwater89016
Marshall88817
Lake83220
Wilkin83213
Lac qui Parle75622
Big Stone6044
Grant5948
Lincoln5853
Mahnomen5669
Norman5479
Kittson49022
Unassigned48293
Red Lake4017
Traverse3775
Lake of the Woods3453
Cook1720

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 371146

Reported Deaths: 6053
CountyCasesDeaths
Polk58273640
Linn21228339
Scott20310248
Black Hawk16167312
Woodbury15241230
Johnson1462385
Dubuque13512211
Dallas1128999
Pottawattamie11229174
Story1071648
Warren584091
Clinton561593
Cerro Gordo554095
Sioux517674
Webster516094
Muscatine4884106
Marshall486876
Des Moines467572
Wapello4338122
Buena Vista426940
Jasper421172
Plymouth403181
Lee382356
Marion366076
Jones301057
Henry294537
Bremer288661
Carroll287152
Boone268634
Crawford268140
Benton259955
Washington257351
Dickinson249344
Mahaska232751
Jackson225242
Clay216727
Kossuth216166
Tama212071
Delaware211143
Winneshiek198835
Page194522
Buchanan194133
Cedar192323
Hardin187544
Fayette186743
Wright186040
Hamilton181951
Harrison180073
Clayton171157
Butler166335
Madison164619
Mills163724
Floyd163442
Cherokee159338
Lyon158841
Poweshiek157136
Allamakee152852
Hancock150334
Iowa149824
Winnebago144531
Cass139255
Calhoun138913
Grundy137333
Emmet135841
Jefferson133535
Shelby131737
Sac130920
Union130035
Louisa129749
Appanoose129049
Mitchell126643
Chickasaw124917
Franklin123523
Guthrie123332
Humboldt119626
Palo Alto113623
Howard105022
Montgomery103638
Clarke100924
Keokuk96832
Monroe96431
Unassigned9530
Ida91535
Adair87332
Pocahontas85822
Davis85225
Monona83131
Osceola78916
Greene78011
Lucas77923
Worth7618
Taylor66812
Fremont6269
Decatur6169
Ringgold56424
Van Buren56318
Wayne54423
Audubon53311
Adams3444
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