On 2020-03-30 falling oil prices were pushing down the S&P 500, with oil about to fall through $19 a barrel.
Mostly false False in substance, right in a detail.
Factual: Statements about the present or the past, checked against the record: did they hold up?
What would count as true or false
Core claim: at the time of the remark on 2020-03-30, falling oil prices were weighing on the S&P 500, with oil near $19 a barrel. True: on 2020-03-30 crude (WTI) was falling to around $19-20 a barrel, and the S&P 500 was trading lower at the time, with contemporaneous market reports linking the weakness to oil or energy stocks. Mostly true: as above, but a small detail is off, for example oil was at about $20 rather than about to break $19, or the S&P weakness was brief or intraday only. Mostly false: oil did fall toward about $19-20 that day, but the S&P 500 was not falling at the time, or was rising on the day, so oil was not pushing it down. False: oil was not falling toward that level that day and the S&P was not being pulled down by oil.
Set before the research began.
Evidence (4)
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E1 Dow Jones rallies 690 points despite oil prices sinking to 18-year low UPI · 30 March 2020
“The Dow Jones Industrial Average closed up 690.7 points, or 3.19 percent, while the S&P 500 rose 3.35 percent and the Nasdaq Composite climbed 3.62 percent.”
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E2 Dow Jones rallies 690 points despite oil prices sinking to 18-year low UPI · 30 March 2020
“The U.S. benchmark West Texas Intermediate fell below $20 per barrel, also dropping by more than 7 percent.”
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E3 Oil drops more than 6% to 18-year low as global demand ... CNBC · 30 March 2020 Own record
“U.S. West Texas Intermediate crude dropped 7.3% to trade at $19.93 per barrel.”
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E4 Wall Street's rally rolls on, aided by health care stocks CBS News · 30 March 2020
“The S&P 500 rose 3.4%, while the tech-heavy Nasdaq rose 3.6%.”
Reasoning
On 2020-03-30, WTI crude fell more than 7% to below $20 a barrel (E2), trading at $19.93 (E3). That matches the oil part of the claim. But independent reports show the S&P 500 rose about 3.35–3.4% that day (E1, E4), and UPI's headline says the Dow rallied despite oil's drop. The criteria rate a claim mostly false when oil fell toward $19–20 but the S&P was rising on the day, which is what the evidence shows.
Cite this claim
Jim Cramer, “On 2020-03-30 falling oil prices were pushing down the S&P 500, with oil about to fall through $19 a barrel.” (said 30 March 2020). Verdict: mostly false. Reliability API, claim c_e3f1b00038f8, method 0.1.0+c876030c, dataset release v1.1.2. https://epistacklabs.com/claims/c_e3f1b00038f8
This claim is in dataset release v1.1.2, with the same verdict.
Reply to this claim
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Verdicts are made automatically; how verdicts are made.