370 but did end the day lower. It was the first down day we have seen in five trading sessions well watch what happens today we have a fed meeting coming up. That will be the pla is to watch as we hear from the fomc later today. The 10year just below. 6 a month. This has been the best month for the dow in 18 years because we are coming off of march because that was the worst year for the dow in 22 years. You see these huge swings first down and then up what we are watching in the equity markets the one thing about 10 crude, every dollar it goes up, we could go back to 30 every day. Lets use the dollar every day that might not happen. Equities do seem to do better. Thats a lot of room to go. Maybe. But sooner or later, thats not good either. The move came after data from the American Petroleum institute. Showing that crude jumped. That was 600,000 barrels less than expected. We saw some wild swings yesterday all around these low levels 10, 11 14 today, as you can see market stocks gave
Cramer, david faber coming to you live from separate locations this morning its risk off following those onemonth highs from yesterday empire and retail sales for march were abysmal the worst on record. Below Expectations Oil below 20 earnings from citi, goldman, bank of america showed the major banks are, as expected, bracing for a wave of defaults some more than others when you look at the percentage of the total loan book at jpm and city. Jpm is the one that people decided wasnt that great. When i look at it, i think it had to do with tone. Jpmorgan, the crucial lines were something that were uttered by jamie, which were, look, may is not realistic. It will be june, july. The problem with basing everything on that is that you dont realize these banks are much more much better prepared than we thought you have a citi thats down from its tangible book value, its actual youll have multiples that are incredibly low because people feel the dividends are in question yet you have a tremend
A lot of people have been led to believe that at some designated time some magical time we will all receive some type of signal like that from authorities and everything is just going to go back to normal folks thats not going to happen in fact nothing could be further from the truth and ill give you an example the spanish flu of 1800 came in 3 different waves and it changed the world 1st of all it went on for 2 full years it changed how people lived and it also changed the business of health care with governments all over the world realizing it needed to somehow be a little more centralized so im bringing this to your attention today because Gavin Newsome the governor of the biggest state merica has come out to explain for the very 1st time how our lives will change because of the coronavirus this is important stuff right one example he cites get this. Yes we will be able to go. Again and to restaurants but only after your temperature is taken before you enter the restaurants just lik
Just a few weeks ago china was the epicenter of the Coronavirus Crisis the place where the outbreak began because its suddenly gone from victim to savior well serbias Prime Minister seems to think so just take a listen to this interview that she gave just recently with Chinese Television when we identified the 1st identified the 1st case of corner virus in serbia the fear of the peoples republic of china was the 1st to approach offer help the support of china saves lives interview. I really am in turn the through. The procedure through to a direct more human to this steel friendship between china and serbia once all this is behind us after all the negative coverage associated with the outbreak in china that kind of praise is a stunning turn around. And and it puts beijing back on track in a much longer term project of building up its image and its influence around the world that china has been working quite hard even before the pandemic to improve its reputation globally and undercut t
Indication of yesterdays rally. Dow futures up 121 points. Thats half 1 , s p futures up 13 and nasdaq up 24. Dow on track for worst quarter since 1987, s p 500 having worst quarter since 2008. Speaker nancy pelosi looking for a phase 4 coronavirus package calling for Infrastructure Spending now and more money sent directly to americans. Major retailers furloughing staff as Stores Remain closed, macys, stores, the gap, cutting payroll impacts hundreds of workers. Unemployment rate could top 32 . Mornings with maria live right now. We want to check Global Market this is morning. Last day of the First Quarter in europe, green across the board. Dax index in germany higher by 200 points. World Health Organization says there are signs the coronavirus may be approaching a peak in europe. In asia meanwhile markets were mixed, take a look at the numbers on asian markets, best performer there korea up better than 2 although japan was down 1 . China says factory activity is growing, purchasing M