All the major f. A. N. G. Companies. They are set to release their numbers and guidance. Thank you for joining us im Brian Sullivan lets talk more about your market setup you have dow futures indicating a gain of about 100 plus points at the upside. 200, as a matter of fact, stock futures are well in the green despite the fact that oil has come down significantly. The price of oil down again right now. Remember, we are in that june contract it is off about 13 this morning, down to under 15 and change so, watch oil. There is a story in the oil patch to Pay Attention to as well that is Diamond Offshore Diamond Offshore, a major oildrilling contractor, obviously like the name immris, off the coast. An offshore company has, indeed, filed for chapter 11 bankruptcy protection the Company Simply not able to meet its obligations so Diamond Offshore has filed for bankruptcy protection. Keep an eye there on that story as well. Also you want to watch the stock of loews, ticker l, not the Home Imp
As many as 100 employees at amazons Staten Island, new york, Fulfillment Center, plan to walk off the job claiming the company is mishandling its response to the covid19 outbreak we speak to the protest organizer coming up. Its march 30, 2020, and you are watching cnbc. Good morning and welcome to the show im dominic chu kicking off this monday morning with markets in turmoil once again after the dow fell nearly or more than 900 points as you can see on friday wall street is looking to pick up where it left off futures indicate 165point drop at the opening bell. If these futures moves hold, the s p down by 10 and the nasdaq up by 1 point at this point this is, by the way, the first time in about a month we havent woken up on a monday morning with futures socalled limit down or stopped because of downside price action. Checking the futures over the past 12 hours, you can see the move has been pretty volatile. Weve seen green substantially at one point all the way down to where we are no
Is looking like its biggest handicap. Going global. Worldwideplans a expansion. Shery lets get a quick check of how the markets closed in the u. S. We saw a stock rally with the dow gaining 270 points, while the s p 500 was higher by 1. 1 . We had already seen stocks higher since the morning session after President Trump said the prophets for a deal were better chinaw anytime talks with began last year. The positive sentiment on trade was spurred higher with the presser from president s macron and trump in the afternoon where we heard them both be positive on trade but also potentially no auto tariffs on japan. Not to mention a sit down with iran. We saw the stocks on the s p 500 and the green. Lets be mindful that volume was pretty thin. About 20 below the average at this point. U. S. Futures at the moment unchanged, but this as concerns are still out there on perhaps a recession hitting the u. S. We continue to see the yield curve inversion deeper into negative territory. Paul . Paul
Great decision rate decisions this week. And gun control on the u. S. Agenda after shootings leaving 30 dead in texas and ohio. Lets get you started with a quick check of market close. It was another day of risk off, not just a day but a week of risk off. We have not seen such losses this whole year. In fact we have not seen such massive selloff since december 2018, before the fed did a uturn and turned dovish grid we have taken Energy Leading the declines, the dow at the lowest level in six weeks, the nasdaq losing a percent or we have the lingering impact of new tariffs on chinese goods imposed by President Trump. We had decent jobs numbers but thel 10year yield around lowest since 2016 as there are more rate cuts factored in. U. S. Futures down. 2 . Lets see how we are setting up in asia. Given that context it wont surprise anyone to see we are looking at a down day in new zealand in a couple of minutes. Off a shade, a quarter of 1 but out of pointing lower chicago. Nikkei futures d
Sydney, 9 00 a. M. In hong kong. We have the polls and alabama, covering ahead of the special montgomery ahead of the special election. We will talk about the chinese appetite for u. S. Debt. This chart plays into how things have changed in terms of this debt binge on u. S. Treasuries china has had over the past decade, doubling its hold over u. S. Treasuries. That is starting to resolve because of a steady currency. You can see this conference relationship between where the dollaryen Exchange Rate is, and the levels of chinese treasury holdings. We have seen this fading of appetite for holdings at an inopportune time, when you have a plan republicans want to push through already adding to a ballooning deficit for the u. S. We have a situation where china owns more than 2. 2 trillion in any u. S. Government debt, and any selling of that could have ramifications. Wells fargo Holding Stable along that 6. 2 level. Very interesting implications for u. S. Treasuries, especially as we get th