Been more than 7100 active and at least 237 people have died that number is believed to be much higher now unlike italy and china iran has not placed anyone under quarantine the u. S. Is also working on how to combat the spread of the virus and Vice President mike pence announced Insurance Companies have now agreed to cover copays per coronavirus testing. Please you reported as you requested mr president that all Insurance Companies here. For today. To waive all copays and coronavirus testing. Extend coverage around the part. You know the benefit of one. Week already made. To Medicare Medicaid beneficiaries to coronavirus testing and treatment would be covered these private carriers extended as well currently the us reported 761. 00 cases the death toll now at 27. 00 but the number is expected to skyrocket as close to 1000000 testing kits will be administered across the u. S. By the end of this week. And a day after all had its worst day in nearly 30 years markets are on the rebound on tuesday the International Oil benchmark break crude in the United States west texas intermediate jumped by at least 10 percent each at times throughout the day now the movement eased concerns of oil traders who saw it. 24 percent drop on monday following news of a breakdown of talks between key opec player saudi arabia and russia on lookers were hoping for a deal to cut production in order to stabilize oil markets ravaged by the coronaviruses effect on travel Russian Energy minister alexander no back said the country has not ruled out further talks with opec and announced the ministry will meet with Russian Oil Companies this week meanwhile equity markets in europe remained in the red although not seen as big declines as we witnessed on monday asian markets were up on tuesday and here in the u. S. Markets started strong with the dow up nearly a 1000 points as President Donald Trump spoke about a possible stimulus for americans we are going to take care of it have been taking care of the American Public and the American Economy we are going to be asking tomorrow were seeing the senate going to be meeting with House Republicans which mcconnell everybody is discussing a possible payroll tax. Cut or a relief substantial really very substantial relief thats of the thats a big number and now just prior to broadcast were hearing reports that the president pitched a 0 percent payroll tax rate to lawmakers in a meeting tuesday afternoon as the day went on the dow dropped a nearly even and maybe a little bit in the red at times before ending tuesday up more than 1000 points so for more on the turbulence in the market were joined by Todd Bubba Horwitz chief strategist with bubba trading of course we need some sensible takes here for me but today lets start with this market turmoil were currently seeing around around the world but really here in the states as well as they started with the dow jumping a 1000 points only to briefly go negative like i said and then closing up on the day almost a 1000 points what is happening with the markets. At a consistency at all lately. And well i mean the bottom line is were going down ok the bottom line is the markets are lower were going lower. Or and you get these amazing rallies when people are trying to figure out where the bottom is and i think weve got a long way to go before you find that bottom but what happens is we in the trade the rip your face off rallies ok so you had the market sell off the bears got happy for a minute a little bit over short and the markets came screaming back this is all this will to soon fade when you see rallies like this this is a sign that the actual selling is not over yet and again i expect to see much lower prices showing up in the next few days and these rallies will subside and of course this is the its the last stand that some of the bulls are trying to make to get in because they missed the entire move and of course typically that does show the top and thats what this kind of action usually produces is the top of the market which i think weve already seen. Well theres always a reason there always reasons them place for this Market Movement that weve been seeing whether its politics that intervention oil wars whatever it may be the coronavirus now today we saw markets move with the prospect of some fiscal stimulus in the way of the payroll tax cuts now proposed by President Trump but do you actually see this happening and what it create any confidence in the market. Well lets be clear about one thing 1st of the markets react far before the news ever gets their markets are much more afraid of fission than the the new cycle because a by the time we hear the news its already baked in the markets for the most part the stimulus package certainly would help the markets again but the bottom line is long is the fed continue to try to manipulate rates theyre going to the markets are going to try to go higher but theyre not theyre seeing that there are some panic in the fed no when they made their market cut last tuesday that showed a sign of weakness by the fed not strength so what were really seeing here is reaction and what investors need is a good excuse to do something so the coronavirus came and there was their 1st an excuse but the price action was in place long before investors finally started to get involved so again i think this stimulus package could help it might believe the markets are a while but the overall underlying economy as ive said for months now were in the very early stages of recession and its going to get worse before it gets better and thats why youre seeing a lot of this action thats why youre seeing russia and saudi arabia trying to put the u. S. Oil companies out of business and were going to get to russia and Saudi Arabian oil here in just a minute but i did what a follow up on that regarding the fed i know its when your favorite organizations you come on the airwaves and you talk positively about it many times by of course im saying this in jest but but were talking about another possible rate cut we might see it as soon as next week President Trump is out there tweeting hes saying bring the rates to 0 and something hes. Consistently studies even talk about negative rates now telling the move that far with the rate cuts i mean are we going to see this rate cut and youre saying it doesnt help anything anyway just makes things worse right. I agree i think the biggest terrible ok look i think President Trump is 100 percent right with his logic listen remember hes thinking as a businessman and as a businessman a rate cut helps everybody and well you know the bottom line is that you know we issue a treasury bond people are buying that money were paying the Interest Rate so in the in the going environment we could lower rates to a quarter because people are going to flood their money into our treasury market because every else is negative but in real market terms it shows a weakness because again were the leaders we should not be cutting which should show the strength we have especially with the underlying economy but were not doing that this is this is again why the fed should be put out of business because they dont understand nor are they for moat the free market system the markets will tell you a rate should be all theyre doing now is that the banks get over level drugs again theyre creating the next big collapse which oby another 40 to 50 percent haircut theres a market when it starts to come to this to start could be i dont know but it will be create another major problem because theyre allowing things to get over leverage meantime all the the predatory or higher rate lenders are making a fortune because the banks are buying all their alone because theyre paying these guys 3 or 4 basis points and the banks are to those loans which are not good loans to begin with so this whole things that eventually blow up in this much this manipulation of money is a farce well before we go i do want to move on to to the oil industry where it rebounded a little bit on tuesday after the worst day in nearly 30 years now some of that is on the back of the Russian Energy minister Alexander Novak saying that moscow is actually open to talks with opec at the end of this month before the deal expires after 30 arabia no longer erp. Starting to produce more oil as they have said breakdown of what happened with the oil market in the last 48 hours for us. Over the oil is in a bear market thats number one ok so the initial panic that came in on sunday night ok was it was based on the fear of what might happen there but again what that what theyre trying to really do if you think that they dont really have a plan here this is more public b. S. As far as im concerned theyre dying to put the fractures out of business if they could butcher or oil low enough ok where these loans good call and all this funding that sadir to help these small fragger is continue to pump oil which way the United States the number one producer in the world that will create a problem and thats their plan there is no way to make a deal before and theyre going to continue to try to keep the pressure on oil and push lower but the meantime the market itself once it had 60 has come straight down i mean were down almost 40 percent from the overall highs and it looks like we go lower im sure were going to test that 27 low again before we d get any real kind of this is a natural dead cat bounce after a 12 hour 10 or 12 point drop in oil youre going to see a bias i mean just like the stock market was in a bottle say for how much we did know that it was going to bounce todd baba horowitz fed cheerleader in chief strategist above the trading thank you so much for joining us today. The coronavirus continue to have a major impact on the Airline Industry this is as Major Airlines are extending waivers for changes and now even cancellations without that hefty fee well Airlines Start down at year to date for multiple carriers include delta united and American Airlines united and delta now theyve both said that they plan to reduce life across their Networks United airline holding c. E. O. Oscar munoz and the president scott kirby said that they will not be taking any salary until at least june 30th a southwest c. E. O. Gary kelly planned to take a 10 percent pay cut but. Also also announced that it would place a hiring freeze across the Company Offering voluntary leave options its not bookings for as much as 25 to 30 percent as they expect their situation to become much much worse but american said it plans to cut domestic a pass me by 7. 5 percent in april and international by 10 percent for the upcoming Summer Season now theres a rule right now across europe that requires airlines from outside the continent to fly 80 percent of their thought if not they lose them to their competitors out there are empty airplanes taking the skies but airlines are now expecting a bounce back to take months if not more as the corona virus continues to spread west i mean how ridiculous is this by the way when were looking at a crisis that is happening or will prices are already down economies are faltering and we actually have empty planes flying across europe just to meet a requirement so that way they can hold their night while the u. K. And theyre having conversations as to whether or not this will continue because of the situation how is it that how is this even possible theyre holding you know theyre flying ghost planes not only like you said the the fuel costs but the cost of these empty seats and the workers theyre already cutting back and asking people to voluntarily take leave and then even asking people are offering people discussions on early retirement i mean it is insane because we have no idea how long this crisis will last you know i mean as of right now we can just see it spreading throughout the world and its anticipated that at some point will slow it will be able to move forward here 2020 but at this point we really dont and if it could come back or not again there remains a lot unclear unknown so absolute will keep on it time now for a quick break but here because when we return its no secret that many of the worlds supply lines run through china but how will things fare amid the Recovery Process well break it all down just on the other side of this problem and as we go to break through numbers at the close. Good food descriptions sound up to tell using even for the owners so how to choose the pet Food Industry is telling us what to feed our pets really more based on what they want to sell us and was necessarily good for the pet turns out may not be as sophie as people believe we have animals that have you know diabetes in arthritis they have auto immune disorders allergies we are actually creating these problems its a huge of a democrat problems all of them i believe can be linked to very simple problem of diet and some dog owners so heartbreaking stories about their pets less treats the larger corporations are not very interested in proving or disproving the value of their food because theyre already making a 1000000000. 00 on it and theres no reason to do that research. Thanks guys or financial survival. When customers go buy your display. Then else well reduce and lower. Thats undercutting but whats good for market bucket for the global economy. The world is driven by shaped by our own person. Who dares thinks. We dare to ask. The impact of the coronavirus continues across several sectors as china is struggling to reopen factories across the country in just the last decade china has become the Worlds Largest exporter and World Bank Data shows that in 20000 it accounted for one 3rd of global trade and the Technology Sector took a big hit since the start of the coronavirus apple for example expected to lose more than 400000000000. 00 but as of this week all but 4 of apple stores in Mainland China have reopened this was after a prolonged shutdown that was caused by the coronavirus i phone maker foxconn reopened its doors last month and it plans to open at full capacity by the end of march the Auto Industry another sector thats facing the possibility of supply disruption many factories near rouhani still remain closed hondas chinese manufacturing hub just in the Southern City of gangs though restarted partial production on february 17th but its still running below capacity if plants dont go back to full production soon Vehicle Assembly lines across the world risk a slowdown and at worst even shutting down so for more we bring in scene of the Miami Business School john quality thank you so much for your time theres a lot to dive into starting with the Global Supply chain thats been disrupted weve already been warned several times time and time again since the start of this and as i mentioned china accounts for one 3rd of Global Exports for 20000 that is how long before we see china operating at full capacity and is there a timeline for this. I dont think as a firm timeline the timeline will vary by industry but i would expect it to be extremely unlikely that we will see a return to full capacity and full production before july of this year there are several reasons for that one is that all of the factories closed have to be recertified before they can be reopened secondly theres the concern that too precipitous a return to work bringing many workers whove been stranded in different parts of the country back together in a factory could result in a 2nd wave of infections and if theres one thing the chinese dont want to do its to be too aggressive in restoring the economic engine the expense of a Public Health risk which no one wants to take and then i think the 3rd factor is now the level of demond that would be evident in the export markets in the west because now were facing a demond slowdown potentially in the western markets as a result of a consumer a lack of confidence all drop in confidence and thats going to affect the dumond as employed imposed on these factories so it in a curious way the slowdown in western countries is actually going to run in parallel with the gradual ramp up of supply in china and now weve seen across several industries then companies have already seen disruptions in the supply chain as we just talked about the Tech Industry in the Auto Industry as just mentioned are big affected affected as trump would say i guess but what war importantly i want to know what are the effects that were seeing that were not seeing as of today that we can see in the future. Well 1st of all youre absolutely right to hoe. And on the auto and attack area theres definitely a shortage in terms of availability of electronics pots and particularly c p us this is definitely a problem and the absence of air freight availability mains that its actually quite problematic for even though these items are high value low bulk items and therefore could be shipped by air on an emergency basis that the air freight is simply not available to do that so thats point 1. 2 to take a different industry weve all read i think about the number of container ships that are as sensually sitting idle in the pacific or alcide of chinese ports on able to unload their cargoes or if their cargo is can be unloaded the the warehouse capacity of the ports is jammed and there arent truck is available in many cases to move the good sort of coming into china to their destination points because the factories are still shot so what that means is that you have all of these containers and cargo vessels tied up off the chinese coast that has created a shortage of refrigerated Cargo Capacity on the west coast of the United States so you have a lot of california pharmacists time of year sending fresh fruit fresh oranges to china the not able to do that because the Cargo Capacity is simply not available to load those goods onto vessels to china so those goods those perishable items could end up in the u. S. Super market lowering drastically the price of. Fresh oranges for example well i want to move on a little bit we talked about it earlier on the show about the early history cant we being impacted by this coronavirus how long do you predict these airlines will it will take for them to go back to doing business as usual and will we see increased prices and flights in the near future. Well i think its very problematic as to when the travel industry will recover and thats going to depend on when we see an evident peak in the number of confirmed cases in the u. S. With then a declining number of cases confirmed on a day by day basis until that peak is clearly reached we wont have visibility into how soon travel will be able to be resumed as normal i do saying that. The airlines you know clearly very very problematic for them by making a lot of changes in terms of Customer Service waiving cancellation fees etc now thats not something weve seen to repeatedly before and again theyre saying its not a safety issue even if theyre lowering prices right now its more are i rather thought economic problem if the fate of the issue as most people are concerned john called steen of the Miami Business School thank you so much for your your expertise. Thank you. And tesla is planning to ramp up production of car parts at its 2000000000. 00 factory in shanghai according to reports from reuters citing documents submitted to the shanghai government as of december roughly 70 percent of parts for tesla vehicles made at the china play it were imported from outside of the country no tesla is planning to add lines at the shanghai facility to make more battery packs electric motors and motor controllers according to those documents the battery cells will still be a source for about side of china with packs being manufactured. On site at that new factory tesla has said in the past they hope to localize their entire supply chain inside of china by the end of 2020 tesa stock is up roughly 4 percent on the day after ups and downs monday where the stock opened nearly 100 points down. U. S. Regulators are clearing the way for a german Semiconductor Maker infineon to complete a 10000000000. 00 takeover of America Cypress Semiconductor and last week the committee on Foreign Investment in the us a subsidiary of the Treasury Department they advised President Trump to block the deal saying that it poses a risk to u. S. National security but cyprus said tuesday they were informed by the committee that there are no Unresolved National security concerns with the merger now the deal will still need to clear several other regulatory hurdles including approval from China State Administration for Market Regulation with the deal and finance hopes to become one of the worlds top 10 Semiconductor Makers on the news and finance stock traded on the german dax and its roughly up 4 percent while cyprus saw gains eclipsing 45 percent on tuesday. And finally in an increasingly connected world customer reviews can help crop up local businesses in some cases even sink them but yelp there are of us and website which boasts roughly 178000000 unique visitors is trying to take on fraudsters who are gaming the system on tuesday yelp released its 1st consumer alerts report which lays out situations where the companys team found fraudulent reviews or activity the actions against fraud can range from putting alerts on to Customers Reviews or a business is page all the way to an outright closure of a user account so far hundreds of alerts were put on different business pages after receiving positive reviews coming from the same ip address that means generally the same person or some sort of system there are 300 businesses even received alerts because the owner was accused of purchasing or encouraging these reviews now the op is gone as far as closing 550. 00 User Accounts so far. This year in relation to a ring creating fraudulent reviews you know i dont know about you sarah but im personally a yelp user just sorry about this earlier and i asked who still uses yelp i actually rely a lot on google a travel advisory like you said it when youre overseas but the things you hope as 178000000 user reviews but this reminds you of that episode of south park where basically the yelp reviewers became like celebrities in town that it had to cater to them like they were some sort of big Time Restaurant critics so it becomes an issue and weve seen this time and time again and they also said that they address the situation in regards to sometimes politics plays into this you know if a company has a political opinion and they move it that way so it can be a huge if an eye out for those fake reviews hopefully i will keep an eye out as well lets say at this time but you can catch boom bust on demand on the brand new portable t. V. s available on smartphones to have a play on the Apple App Store by searching part of a t. V. Or stream us buying t. V. By downloading the portable t. V. s on apple t. V. And online a part of all the t. V. You can also find a coronavirus tracker on the for portable t. V. Ad where you can get the latest news and information about the spread of the virus and it has always checked out on you tube dot com pleasure to bust our teeth see you next time. What is the difference between embarrassing gaffes and elder abuse joe biden certainly excels at the former and maybe is the big name of the latter we are told to mention of Mental Health is off limits to what degree is the public the right to know. Not ones up. On a flimsy off let down one might have the definitions and im bad. One seeking out in the. South. And. Taking the equal sitting. Down to get the gun and then youre just going to bring. Out with a gun. Right now i think. Im going to let you know will not be yeah sounds out of. This just feeling if one means a leftist i know be deep but not on this numb tokio find it is going to happen to go. Out. Of his work was because did it because it didnt seem quite a cultural thing i pulled the premise. Is your media a reflection of reality. In a world transformed. What will make you feel safe. Tyson nation community. Are you going the right way or are you being. Direct. Watches. You need to. Join us in the depths. Will. Be. Another politically motivated attack on a politician. Spreading across the globe. For money in a bid to develop a vaccine. As much. As one. Of Us Democratic president ial primary
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