It is thursday, april 8, 2020. You are watching cnbc. Good morning, we begin this morning as we have for weeks, breaking news and a futures market searching for some direction. This now, can you see the dow jones down by 70 points, the s p around 10 points and nasdaq around 27 points relatively stable. Indicating the volatility weve seen as of late can continue after equities staged a major come back most of the day yesterday before wiping out a more than 900point gain to end the session slightly lower check out the bond market to the down side implying people are buying up some safety on that debt twoyear note yields below ba. 2 or. 72 . Thats the bond picture. Oil prices bouncing back on renewed hopes of a coordinated output crude oil prices wti benchmark prices 3. 5 to the upside ice brent crude up half a percent as well. 32 the figure there the last trade. Wti made a sharp move around 9. 5 investors worried any move will not outweigh the global overproduction going to matt taylor i
Stories. Lauren simonetti following markets in the newsroom. Blake burman at white house, Hillary Vaughn on capitol hill, and Edward Lawrence with more reporting from washington as well. Lauren, on this 2,000 point gain today we start with you. Lauren biggest point gain the dow has ever seen. Rallied into the final hour of trading. What caused this . Is this fact that donald trump wants to open the economy up by easter . Is it fact the senate is awfully close to spending a two trillion dollar stimulus or both . The dow up 11. 25 . The s p and nasdaq up 208 and 557 points respectively. Each had the second biggest point gains in history. A lot of investors today are saying this is the birth of a new bull market . Have we hit bottom or is this just a temporary bounce . Look, nobody knows the answer, but Credit Suisse looking at the broader market, they see by the end of the year, s p 2700, which is a 21 gain from yesterdays close. Take that with a grain of salt. The big tech stocks we lik
Nike looking to shuffleci a protest from its owna fundraiser it is wednesday, february 19, 2020 Worldwide Exchange begins right now. Good morning im dominic chu in for Brian Sullivan stock futures indicating a positive open after the dow fell for a third consecutive day on that big revenue warning from apple. That dow would open positively by 57 points, the nasdaq up around 30. The yield on 10year benchmark ticking slightly to the down side, 1. 551 twoyear benchmark, 1. 414 there. Lets go worldwide moving over to chinas return t hang seng and hong kong up about a half and a third a percent. It is relatively green there on the screen very much a positive trade in the european session, at least so far sno the daily number of infections in china has dipped the overall death toll crosses the 2,000 mark reporting the lowest daily rise in cases officials in hong kong have announced a new death from from the virus as well. In the United States, a single case has been confirmed in california t
Date trade tensions resurface as china rebukes the decision to sign a bill backing protests in hong kong. And retail front and center as we get forecasts from adobe and the National Retail federation, forecasting strong Holiday Spending joining us for the hour is allied chief Investment Strategy lindsey bell here we go, a shortened day today but a lot of excitement. Whats driving the action . Well, you know, there is lower volumes today. Coming into the end of november, going into december, this is the seasonally strong period of the year earnings season was a good one retail sales pretty good retail earnings were good even though a mixed bag and so i think were in the period of pause until the new year. What are you paying close attention to today. Well, today, i think its really all about this is black friday about the retail environment and the consumer theyve been very confident, wages going up Unemployment Rate very low, near 50year lows can the strength of the consumer driving th
November is the number which remains high in historical comparisons. The consumer is not falling off a cliff and that is important because as we look into 2020, it is the consumer which will be doing the legwork and driving prices. David you are our chief economist. It seems like different data in different directions. The university of Michigan Consumer was high. It seems like it is up and down. Can you get a clear picture of where the u. S. Economy is right now. Tom our view is we are looking at a slow down, but not a meltdown. The key way to look at this is through the lens of the job data. A year ago, even at the beginning of 2019, we were looking at a u. S. Economy creating a solid 200,000 new jobs a month. 2019,e are at the end of the run rate has come down considerably, we are closer to 100,000 than 200,000 now, but that is still enough job creation to keep unemployment at a 50 year low, to keep wage growth at a solid 3 or even higher. With that Unemployment Rate in that pace of