English. The dow is down on the week despite a furious 1000point rally. Dow jones market group shared a wonderful statistic, the last time we had a back to back 9 move two days in a row was october 1, 9209. This is a wacky market. Finding comparisons for is almost impossible. When you put together a virus like this, you put the oil crisis we have the Oil Prices Drop like this ship but the facts were in a president ial year this is all just wacky. And it almost feels like a big relief we got this 2000point rally out of the dow on friday. Because coming and said friday was just awful. Some of the worst trading weve seen since 2008 and yesterday, thursday, the drop was the biggest since 1987. These are crazy moves. Jack so clearly the oil is a problem here. But i think its mainly coronavirus. Think theres this old cliche that insert is what the market hates. I think you put a finer point on it does make sense. The market hates known unknowns. We know this a problem but we have no input im
The others by his wealth and dealings of minorities and women. But no matter who the democrats pick, he or she will have a formidable task beating an incumbent president running a strong economy. Right now President Trump has that going for him as we head into november. Mr. Trump is already campaigning on the countrys solid job creation for 2,205,000 jobs added in january march the fourth month in the past year we saw employment gains of more than 200,000. Hes also touting of course low unemployment with historic numbers for africanamericans and latinos. Two groups that have not giving him much support in the past. And while Economic Growth has been good, not great, economists see little threat to recession anytime in the near future. On wednesday, the federal rate serve release management january meeting showing members felt the outlook for the economy was even better than december. A new wildcard has emerged recently. The coronavirus. Its in china would spilling over into that countr
The backdrop in this market. We had down week but we had record highs going into this week because the economy seems okay what he think . I think the expectations for the worldwide economy are coming down a little bit with the virus scares. Its not so much the people, investors thinking were headed for some terrible Global Pandemic but business disruption in china. People from other countries running parts from china, that has been a damper on things so thats gonna cut into earnings you expect . Take china out for the First Quarter, no flights going inandout, shortages, look what apple just did in terms of what they are expecting, thats going to hit the u. S. Thats going to hit u. S. Companies in the First Quarter and for the year. So keep in mind, we are now paying, investors in u. S. Stocks we are paying quite a bit more for a dollar of earnings than we did year ago. So that has to be based on some optimism about the future i think weve got a lot of optimism lately with the resolutio
President affectionate of his base and the other side who leads them socialist or a billionaire, wall street journal poll, the democrat race has tilted heavily to socialist, Bernie Sanders, hes got 27 support. The fading joe biden is essentially tied with newcomer Mike Bloomberg, the president s approval record hits new high for the poll, 47 tonight it really is mustsee splitscreen tv, all right, we will get to your money, of course, not quite as exciting as politics, chinas government says theres a slowing in rate of new infections for the second day, less than 2,000 new cases reported but beijing still has, you might call it credibility problem, 3 wall street journal reporters kicked out of the country objective voices gone. Anyway, the dow will be up about 80, s p up about 10 and nasdaq another nice gain, already at new high, up another half percentage point. Rally all across the board. Now, just wait till you see tesla stock, im showing it to you now, if you bet against it, you are
In the last hour mike pence landed in Washington State, very he is meeting with governor jay ensley to talk about the pandemic and to be brought up to date on the crisis in the state of washington. And earlier today the Vice President was in minnesota where he visited the 3m plant in january, 3m pledged to ramp up its production of protective facemasks to prevent a shortage because of the viruss spread. During his visit the Vice President spoke plainly, candidly just what the American People expect a leaders. The Vice President saying that while there are enough tests for those believed to have been exposed, there arent enough tests available for all americans yet. We dont have enough tests today to meet what we anticipate will be the demand going forward. For those who we believe have been exposed, those were showing symptoms we have been able to provide the testing. As more americans take an interest in this or have concerns we want to make sure they have access to a coronavirus test