Rate cuts do a lot more damage to stocks/bonds/RE than oil, which is more of a policy issue out of the Fed's control.
A point is 4 ticks, but I think you are correct in him using points here as ot only ran up about 20 to 30 points initially iirc.
Hi SunTrader, Sorry, I trade stocks and futures and tend to use dollar value as points. $1.00 = 1 point. I've never used the tick version when trading. Futures calculator I use also uses points. https://www.danielstrading.com/trading-resources/futures-calculator I believe that was ES on Wed. It dropped in price 4425 to 4298