Business closures as well as layoffs. We will show you how markets are reacting as well. Eugene scalia and richard will join with me about the jobs picture, what they have to say about the jobs market, stimulus package and what lies ahead for the u. S. Economy. Twoday rally for the dow and s p 500 poise to come to an end today, future pointing to losses, down 200 points. Down 93 on the nasdaq after gains of wall street yesterday but markets did close off of the highs of the day, in fact, the nasdaq as you could see finished negative. Dow industrials yesterday up 409 points at the close and the s p was up 28. President trump says parts of the u. S. Could be going back to work in a few weeks participating in a Virtual Conference with g20 leaders today working on a coordinated response for the coronavirus pandemic. Plus americas biggest music star coming together for iheart living concert for america. Special feature includes elton john and alicia keys. Mornings with maria is live right n
President. That was then. A lot of people think it is fundamentally different this time. All of this is really catalyst, via a virus. But again, one of the interesting things im also following is that we still have negative Interest Rates at the very, very front of the socalled yield curve. One month and threemonth bills are still in negative territory right now with the one month bill at negative. 117 , the three month bill at negative 0. 348 . I hate to add that. That is actually good news. People dont look at a prospect of negative rates as good news but what it means technically, when you give the bank your money, you have to pay them for a privilege. A lot of people look at that, say, what the i will take my chances in the stock market. At least with conservative investments and dividend yields north of 3 i could do better almost doing nothing. That is the view. It benefits stocks. The fact we think were over the worst of the potential Economic Impact of this. That might be premat
White house news. Hillary vaughn on capitol hill. We start with you, hillary. Reporter House Speaker nancy pelosi says she basically had to do jujitsu to shape the senate bill into something her members could stomach. She spent the past few days while the bill was delayed in the senate pushing to make the focus workers first instead of corporations first but House Minority leader Kevin Mccarthy is criticizing pelosi for this delay saying while this bill was held up in the senate for several days while they were back channeling to pelosi, trying to work out a deal with the white house, several, hundreds of people around the country were wondering when they would get muchneeded relief and some of the relief is in the form of cash paid directly to americans who need it most. Anyone making under 75,000 get as onetime payment of 1200. For couples making less than one 50,000, they get 2400 in a payment. Americans waiting for money still have to wait on the house to pass this bill. One way or
Gain of about 170 points, after the biggest oneday gain since 1933. That was yesterday. Today might be a different story. At the moment we are looking at a gain of 166 for the dow, a drop for the nasdaq, maybe down 34 points, and the s p down about 11. Mixed picture this morning as investors try to get to grips with this new package and what it means for the economy. Also influencing the market, the president s statement that he would love and he used the word three times, he would love to get the economy back up and running by easter. Thats just two and a half weeks from now. It is a goal rather than an absolute. Critics say its just too soon and many state and local governments reject the president s time frame. Meanwhile, the call for Domestic Travel restrictions keeps on growing. Some officials at the white house suggested that anyone leaving the new york city metropolitan area should be confined to 14 days quarantine. As of now, lockdown, stayathome orders are in place for well ov
Senate. Were monitoring a anomaly happened in the markets here. You heard about negative Interest Rates abroad. That is almost Standard Operating Procedure particularly if europe. We have them here, yield on one month bill, three month bill, below zero percent. You effectively paying the bank for the honor of holding your dough. It is an anomaly. It worry as lot of folks who seem to think if this become as more established trend it could be a real problem. This, sort of statistical quirk is something were following because it is just limited to really the shortest and most immediate side of the socalled yield curve. It has not hit anything north of the one year and 10year, stuff that we follow closely. But it its something that has now happened for the first time in American History but if the stock market is worried about it, again as i stress, it has a funny way of showing it. Back to capitol hill. Well be monitoring that. Also monitoring what is happening on the floor of the senate