Vonnie the nasdaq its office lows. Is off its the s p 500 down 2. 5 . The worst performer right now is pvh, performing pretty poorly, down about 15 . Many of the Energy Companies are lower, as well. Y runhas been such a whipp for them. Netflix is the best performer today, holding onto games of 4 plus. After the dismal Economic Data which we were anticipating, but still a sticker shock, the 10 year yield is at 65 basis points. I want to point out, ray dalio said a moment to on Bloomberg Television you would be crazy to own bonds. Go back and have a look at that interview if you want to hear more. The vix a little more elevated once again today. Guy lets get some more insight into what is happening on these markets. We are joined on the phone by graham secker, Morgan Stanley equities strategist. Equity markets a little whippy, as vonnie said. How do you see the riskreward right now . Graham good afternoon. From a european standpoint, we dont really like the riskreward here. We thought it
No let up to the s p 500. After all that negative Economic Data, we have the 10 year yield back down to 65 basis points. Crude oil is trying to make a run for 20 a barrel, a whole . 14 lower their. The vix is trading just below 42. Halfway into the trading day. Lets get to Abigail Doolittle for some more detail. Abigail that was certainly a risk off picture. Thatinancial markets on dire Economic Data we have seen today. Subsector picture it gets worse. Look at the s p 500 energy index. Down 6. 3 . This antipathy in sympathy with the volatility for oil. We also have the bank index down sharply for a third day. More bad earnings from citigroup and bank of america. A global macro picture is not great. Auto down, airlines down even with a bailout. One area that is doing better is the faang index. It is doing quite well. A piece of this is tesla. Take a look at tesla over the last 19 sessions. Tesla has actually doubled. Goldman sachs has initiated on tesla with a buy rating, but it is extr
The 10year is yielding 0. 75 . Well continue to monitor that as well. We have a lot of guests today. Including dr. Scott gottlieb who will join us in a couple of minutes. J js cfo, the ceo of moderna, ceo of related companies and the ceo of zoom. All in the next three hours. Andrew an update now on the pandemic in the United States. Now more than 582,000 cases and 23,000 deaths. North has 96,000 cases and 10,000 deaths. New york governor governor cuome numbers appear to have knocked off in new york. It was an accomplishment. A heck of accomplishment those Health Care Workers for the rest of my life, i will say nothing but thank you to them. I was not sure if we could keep the tide from overwhelming our hospital capacity. They did there is going to be no ephany or morning headline that says hallelujah, it is over thats not going to happen. Well hear more from dr. Scott gottlieb about plans to reopen the country and more about Governor Cuomos gathering of states on the east coast to disc
Now projecting anywhere from 100,000 to 240,000 total deaths in the u. S big investors are weighing in. Rosengren says the feed needs to adapt as the crisis proceeds and he expects the Unemployment Rate to rise dramatically weve got a big guest lineup coming for you in just a couple minutes, talking to james gorman from Morgan Stanley. Hell talk about the market volatility and how the banks have fared so far in this crisis lets focus in on the big stories we are watching at this hour, the final hour of trade. Mike santoli watching the market plunge meg tirrell has new details on the state of Virus Testing in america, so important. Micah, first to you on this market were seeing a pretty steep selloff here. A pretty steep selloff sad to say not that unusual after you get one of these crashlike moves, then a rebound. I think a lot of folks were hand capping this to be an area where it would stall out this may be a little more than a stall. Well have to see. This is a twoyear chart we were
Brokered. Weekrude about 13 on the but we cant go without pointing out we are down about 50 on the year. The dow, the nasdaq, the s p down roughly 1. 5 on the day. The big decline or is really the russell 2000. A lot of concerns about what the smaller and Midcap Companies are going to fair. We also saw a selloff in the financial space. The bank index down about 4. 8 on the week. We should also point out, on the weekly gains and losses, the only three sectors that managed to close with gains this week was energy, consumer staples, and health care. Also up about 2 , scarlet. Scarlet it is interesting how weve seen the gains that initially came at the open disappear pretty quickly. For all the talk that the data is backwards looking, the fact that it is friday and we have so much uncertainty i had of us with worsening numbers presumably means that investors dont want to be long heading into a weekend. Now all eyes are looking towards the opec Conference Call on monday. Certainly there a l