A payroll tax cut to provide shortterm stimulus, pu sources telling cnbc the white house is far from ready to roll out the proposals and a number of Companies Cutting their dividends and Spending Plans guests this afternoon, the ceo of jet blue as the company pulls its guidance due coronavirus jim oneill joins us to discuss the Economic Impact and government responses around the globe and what to do with your money now. David herro will join us as we count you down into the close. 59 minutes left of trade joining us for the full hour, paul hickey and paul, you guys have been doing some research as to how key and how stomach churning this final hour of trade has been this really is the most important hour of the day lately over the last ten days zblsh repeat that. Most important hour of the day. Over the last ten trading days, weve seen an average move of 1. 1 in the s p 500. Weve only seen that five other times going back to the early 80s last 15 minutes of trading, average move of. 8
Oh, yeah, all right,. Take it easy, baby. Make it last all night. She was an american girl. Cheryl one americans waking up with a Little Spring in his step this morning. Thats joe biden. Welcome to fbn a. M. Good morning, im cheryl casone. Lauren theyre calling him in the comeback kid. Good morning, im lauren simonetti. Cheryl take a look at how your money is moving this morning after yesterdays surprise rate cut by the fed amid the coronavirus outbreak, also joe bidens super tuesday showing, futures are high e dow up by 531, s p up by 56 and a quarter, nasdaq up 171 and a quarter. Many investors view biden more middle of the road than sanders. Lauren interesting reaction after super tuesday. Take a look at the yield on the 10 year treasury, it is still below 1 , 0. 942 this morning. Cheryl we saw a flight to safe haven assets like gold yesterday, it was up 3 . Right now gold is losing a frac shove fraction of a percent. Oil is up half a percent. Lauren stocks in asia mostly higher. Th
Maria we want to get a check on Global Markets this morning. A lot of action, rally in europe as well as the u. S. Right now. Take a look at european indices, cac quarante up 72 and dax up 147 points. Euro zone purchasing managing index better than expected. The spread of the coronavirus is expected to cause weakness going forward. Remember, the outlook thats materially changing right now. We continue to see the numbers today pretty strong. In asian overnight markets are mostly higher. Take a look, the weak spot was hong kong. The others fractionally moving although korea was up 2 and a quarter percent. We do have more bad Economic News out of china. The service purchasing manager index slide to go record low overnight. February car sales plummeting 80 year over year. South korea announcing stimulus package to fight coronavirus. People are saying if he has to cut 50 basis points before meeting, what does he know that we dont know. Maybe its a lot worse that we thought, as a result the
Coronavirus induced volatility plus quarterback buoyed by a string of super tuesday victories for the former Vice President. Is the contender for the democratic valuation former investor jeff ubben, never seen anything like this and says why it makes Value Investing impossible the fed announced a 0. 5 rate cut. Stocks looking to recoup most of yesterdays losses which includes a drop in the dow of 785 points jim, once that tenyear broke 1 , wow. Could you not take your eyes off of this price action look, i think that i was struck by the rate cuts. I didnt like jay powell you cant say listen, the fundamentalless as are sound bue need a gigantic rate cut that means the fundamentals arent sound i didnt know we were that bad off. People either way we are bad off or powell knows something and to see that you get a Biden Victory and maybe things bounce back a little is encouraging and mostly because its just about the tenyear the tenyear drops to 9. 8, then everything you see on your screen t
Thats the anxiety indicator, if you like. This morning, the yield is back up to 1. 00 . Ashley back up. Stuart back up, thats right. Well above the extraordinary lows that we hit yesterday. That would be record lows that we did touch yesterday. 1 even on the tenyear treasury. How about the price of gold, another flight to safety. Actually its down again, off two bucks at 1641. Okay. The primaries. A great night for joe biden. He won nine states including texas. He now has more delegates than bernie. Sanders did win california, but late deciders swarmed to biden. Bernie might not have won california if the two million early voters had just waited. Bloomberg did very badly, only winning American Samoa. His campaign is quote, evaluating its future. One of my colleagues at fox said never had anyone spent so much to achieve so little. Elizabeth warren, ultimate disaster, third in her home state of massachusetts, fourth in her native state, oklahoma. It was joes night. Hes back as a contende