Shocking news, an outspoken founder leaving the company. And beta bearing down on the gulf coast as they brace for another storm. This is Worldwide Exchange right here on cnbc good morning, good afternoon and good evening thank you for joining us to start your week and lets get a check on your monday money and its looking like the sell off we have seen recently. Its early but stock futures are down 500 on the dow. Nearly 200 on the nasdaq theres a ton of news out there today. Well get to all of it in a moment but theres two big and important things happening that you have to Pay Attention to right now. Number one, the s p 500 has fallen three weeks in a rowand it just flows below its 50 Day Moving Average for the First Time Since april two, the biggest stocks are beginning to underperform. Some of them meaningfully. Take a look at these the s p 500 dropped 5 this month. But the biggest tech names, names that you know, theyre down 11, 12, 13 apple, down 19 in the month of september. Rem
More positive. Barclays misses First Quarter estimate with 2. 1 million in credit impairments investors navigate unprecedented conditions caller what they are doing at the fed in terms of her majestys and the banks. Well watch two tsunamis hit at the same time. Investment banking provides a boost. Telling cnbc credit losses are manageable despite more pain to come this year will be more difficult than any of us anticipated. We are doing anything we can in anticipation of our risks and costs to preserve the capital that we can. Airbus blaming limited visibilityas 60 aircraft could not be delivered due to the outbreak not as bad as advertised shares of alphabet rally after the Google Parent Company said the slow down is easing, beating more pessimistic forecasts a very warm welcome to street signs this morning. Lets get a check on the european markets trading in the green. It has been a choppy session we saw the stoxx 600 slip below the flat line now. The ftse 100 up about 1 we have the
Amanda from california. Testing for the virus as it we land and get bombarded should, how thats making a bad situation worse as the virus good facetime clears that up. With messages from our families. Lets get to the news. Spreads silently. Trump announced this, you cant shutdown of schools, offices, come back, and the end of the going dark. Social gatherings is accelerating as they try to meet late night show suspended, the the demand for coronavirus curtain closed on broadway, testing. March madness canceled. Tom costello joins us and the nearly all professional sports three things were watching on hold and now major theme today on this issue. Tom, good morning. Reporter good morning, world and all that good stuff. Reporter in fact, the parks shutting their doors. President s 30day ban only how americans coasttocoast targets European Countries from 36 countries but fears fueling savannah americans to get back quickly. Thats top, up front right now the move condemned by europes leader
And 58 of the fox poll says she knowingly lied about it. To the markets this monday morning, it looks like the gas price surge is winding down. So, cheer up, everyone, our guy says it will be much cheaper very soon. Varney company is about to begin. Lets see where the stock market is going to open this monday morning. There has been a shift, about a half hour ago, we received news that the Empire State Manufacturing index came in at the lowest reading since the recession. Implying a problem with manufacturing, certainly in the northeast and maybe nationwide. Down goes the stock market. Were off about 70 points at the open. Now look at the price of oil. Down 2. Were at 41. 76 on a monday morning. How about that . 41. 75 right now. And price of gasoline up only slightly overnight and the spike in the midwest affects the National Average and appears to be winding down, maybe its over. Now, that refinery problem in the midwest, did that have an effect on gas prices over the past week, will
Strong, he says september. Is he over 200, it has to be or. I thought he said 185. So as long as you hit that. I believe so. Which is the whole thing is bizarre because the jobs number is readvisable by 100,000 jobs every time anyway. Details, brian. If you get anywhere between a d plus and aminus, im going to. Thanks appreciate that fed. Lets check out overnight this asia. At least in japan looked like the market was up 1 . Markets were mixed in china. Hang sang was down less th than. 20 . In europe in the early trading right now, at least at this point, things are mixed. The cac is the biggest gainer of the major averages. The ftse and dax are slightly lower. In italy stocks are up. Abex up. 80 . Crude oil prices. Crude oil is a little lower. Right now down only by about 14 cents to 46. 21. Among top corporate stories. Deutsche bank had considered a merger with commerzbank in the past. A deal would combine germanys two top lenders. Played down that report saying he doesnt think a mer