Exceptionally good guests this hour, and we will begin with a moment. Haass in an extraordinary place we are in right now, waking up to the imagery of a darkened white house. The president choosing not to speak to the nation as wasnt dissipated last night. To the north across lafayette , a boarded hay adams. A fire in the historic st. Johns episcopal church, the church of the president s. Pew 54 is where they sit, although lincoln sat quietly in the back. The protestsct to in continental europe. Your thoughts on this file and we can. Jonathan i dont think anyone needs my personal thought, not from a journalist whos barely left his apartment in the last three months. I dont think theres much value protests in the europe in the United States. Theres a deep history in the United States. The plea unsettling to see the equity market emotionless against the backdrop of the weekend. Commentt uncomfortable beautifully, absolutely nails it. Alm iscomfortable c also in the fixed income space. It
Want to highlight energy. It is at the bottom of the barrel, down 1. 6 . Part of thousand of cyclical trade we saw the beginning of the week on monday. 8 also have oil lower today. I want to stick on oil. Even though it is lower today, it is still up in a massive way on the month. It has gained nearly 80 in may, the best month on record. Supply and demand in the market starts to look more balanced and wti is ending the month around 33 a barrel. David . Waiting to hear from President Trump. We have already heard from jay powell. Earlier today our colleague Michael Mckee sat down in an exclusive interview with Loretta Mester, the cleveland fed president. They talk about euro curve control. Yield is flater at the short end, so maybe with the Forward Guidance it is not necessary to do something to emphasize the Forward Guidance. I do not want to take it off the table is something for me to think about as a possible tool. I do not think we needed at this phase, or do i see so much forward w
Alltime highs today and if you just looked at the market, you would have no idea, frankly, about the civil unrest across america, as thousands continue to take to the streets to protest Racial Injustice and inequality demonstrations last night a little more peaceful than on prior nights were going to dive into what could be a Tipping Point here in the u. S. Power lunch starts right now tyler, thanks stocks are at their highest level in three months as the rebound continues at a furious rate for more on the road back to record highs, lets get to dom chu. Hi, dom. Hi, kelly, lets talk about the massive amount of green youre seeing on the screen right now. As you and tyler mentioned, the vshaped recovery continues to move the dow industrials, 400point gains, about a percent and a half to the upside the s p 500, 3116, the level there. 1 gains there the nasdaq actually lagging for a bit now so far but lets take a little closer look at the nasdaq specifically the nasdaq 100. Because as tyler
Macys, looting as well. Tension across the city, no question about it. You opened correctly, which is this is not just about new york. It is not just about washington. It is about cities across the nation, the horrific events in buffalo and those tragic deaths in chicago as well. Jonathan for programs like this where we have to cover the markets, you have to stress to the size that this equity market just feels totally removed from the mood of this country right now. We talked about yesterday, and no doubt through this morning as well. Tom i am not going to mince words. Ive witnessed this before i was born with my grandparents. One set of grandparents completely removed from the depression, worried about the stock market. The other set of grandparents going, what are you, nuts . It is true futures are up. It is truly risk on. I would note brent crude get a near a 40 per barrel print. Jonathan a weaker dollar in the mix as well. Lisa, we heard from the president yesterday evening. A lot
70 drop in wti, trading under five dollars a barrel right now and still nobody is buying. That has the s p 500 lower but it is off of its lows, down about half a percent. Lower, thoseso indices are down to present. The dow has actually turned positive, some leadership in tech. The dollar also strengthening. Commodity currencies on the other side of that trade. 0. 7 anadian dollar, weaker. Basisyear yield at 54 points. Moment forfor the the obvious indicators. Abigail doolittle has a deeper dive in the markets. Abigail certainly an interesting day with stocks down but oil plunging. Lets look at some of the other indicators before we go into oil. Suggestingabout 40, volatility is returning to the market. The new normal many are talking about, the likelihood that of x will stay above 20, but right now above 40. Take a look at the highyield down 0. 8 . Risk off fitting the vix. Bid foring nonhaven the yen. Gold is rallying. 7 . Where we truly have risk off is oil. Just extraordinary. Wti c