Down days for the markets. Right now s p down by about 11, dow by 96, nasdaq off by about 47 we were so close to you dow 30,000 earlier in the week, but that seems to be slipping away a little bit 29,400 and change is where the dow is right now and again, down two days in a row, down again this morning and after yesterdays declines, all three of the major averages are in negative territory for the week a lot of things happening with covid and well talk more about that in a moment, but some of those concerns creeping back into what you see in the markets. If you are looking at the treasury market, the yield on the ten year right now is sitting just at about 0. 852 and the vix also spiking yesterday, probably a little bit on concerns about what happens as we go back into some of the lockdowns. The seesaw of good and bad news on covid. And well give you a bit of good news that happened overnight in the vaccine wars developed by the university of oxford and astrazeneca found to be safe. An
Stimulus and higher bonld yields as well which reversed and went the other way. Dows down almost 300 points is this art of the deal or do traders really need to pare back their bets over stimulus lets get right to maike santol for the market reaction. What stands out to you right now . First of all, its an incredibly clean test of where the market was and what it was trying to bake in over the course of this rally which as will fred said was whats really fascinating too is the news came as the s p 500 was just hitting these levels that everyone has been saying oh were going to give room to this rally to get to 3425 and then well see what happens we were just above that in the afternoon and then we had this little reflex. I would caution everybody to keep in mind that we dropped to where we were trading yesterday morning right after the close. So there has been a little bit of a head of steam and builtup gains in this market this doesnt necessarily completely alter the premise of what w
Under an hour left in the session. Lots coming up on todays show a big exclusive interview with bank of americas ceo. Well get a read on the Small Business relief program. He joins us live in about ten minutes time plus as retail bankruptcy concerns swirl, well speak with the president of sax fifth avenue about whether customers h actually return to stores when doors do reopen but first, lets focus on the big stories of the day. Mike is tracking the market pullback on this first day of may. Josh is covering apple diedra is watching amazons move and phil has the shocking tweet from elon musk that sent teslas shares tumbling. Mike the s p 500 down almost 3 today. About 3. 5, 4 from its highs just two days ago. Look at a chart. Just to map where we are down about 4 we had broken on a shortterm basis the uptrend from march i dont think anyones going to get too concerned about this unless it goes deeper than at least 2550 week and a day or so ago, last tuesday, we were down around 2730 so w
Lots of guests coming up mel Mellody Hobson will join us. Well ask if todays the start of a downturn or a buying opportunity. The ceo of icelandbased Decode Genetics will join us. What the company has learned about how the virus spreads. Its an interesting study. Lets focus in on the big stories we are watching in this final hour of trade. Bob pisani tracking todays selloff Courtney Reagan with plunging retail Sales Numbers and wilford. Bob, a little recovery weve seen lets take a look at the s p and call this one cuomo versus the horrible Economic Data because the markets once again, cuomo moves markets. 12 30, started talking about lower hospitalization rates, the market lifted at that time continuing to lift but cant compete against those horrible Economic Data sara was talking about. The energy, the banks, the small caps, the industri industrials, Economic News, they suffer the Energy Stocks getting pounded, even down double digits, some recovering off the lows like apache and hess
Going on the president announces a travel ban but the lack in detail and large scale coordination is rattling the markets on the legislative side, theres little agreement on how u to move forward on any relief and just this afternoon, the fed announced a massive injection of liquidity into the market. It briefly shocked stocks higher but now weve drifted back down towards the lows o the day a number of big interviews this afternoon. Jack lew on the economic response cmes ceo, terror ki duffey on ty and ben is the former ceo of sprint currently sits on board of jet blue hell join us to discuss the pain thats being felt in the travel sector, and zoe, does it hurt we are all over this massive market sell off. Charlie from Ariel Investments is with us for the hoyer hour. Meg is tracking all the new details on this coronavirus outbreak and elan is in washington with the latest on the house stimulus vote. First, the new york fed just announcing that massive liquidity injection. Cnbcs senior