Covid19 virus it is monday, april 6, 2020. You are watching cnbc. Good morning welcome to the show. Im dominic chu live at cnbc headquarters dow futures pointing toward a surge at the opening bell. If all things hold true, we could see an 838point gain for the Dow Jones Industrial average, 101point gain for the s p 500 and 320point gain for the nasdaq a big surge after down moves last week. Also keeping an eye on the bond market as well we are seeing some movement there in terms of yields on benchmark u. S. Treasury bonds and notes. Twoyear, 26 basis points or 0. 26 . A tick higher there. Tenyear benchmark treasury yields a hair over 65 basis points, or 0. 65 you can see sell off of government bonds, those yields rising crude also moving at least to the downside right now wti, 26. 60 after logging its best week in history well have much more on that trade in a moment. We have Team Coverage from around the world to kick off your monday morning. Julianna tatelbaum is standing by in our l
This stock hitting a century mark thats right, a 100year high for this company any guess sns send it on the twitter feed we reveal the answer later on in the program. All right. All that ahead but we begin right here with what some are worrying could be ipos gone whiled wild check out the morpt moves in the the recently public named np beyond meat, smile direct, ub err. Up double digits this year np smile direct up 34 uber up 17 beyond meat up 5 a and were only 9 trading days into 2020. Now many of the names are still well off the alltime or ipo highs. So is the recent rally too far too fast and if so which, guy adami of those names, if with with you nicked one of the names shone would you say this is the most worst and ee egregious example of momentum gone amuck. The most momentum gone amok beyond meat is fascinating to me it went from 75 to current levels in a straight line. But also off the 240 level we saw in july. I dont know if necessarily run amok they are well off the highs to
And im Courtney Reagan in this morning for sara eisen. The last nights Grammy Awards this is bruno mars 24 karat album. Took home the album of the year. But i hear he won basically the award. He was basically the big winner in once again it was a politicized ceremony well definitely have the highlights checking the markets, coming offer the back of a strong week. The s p and all three indices were up more than 2 for the week as a whole. We talk about a big start to the year, its also been a broad start of the year on friday, and all of last week, all 11 sectors were positive with s p month to date, nine out of 11 are high its been a great start to the year and last week was certainly part of that this morning, were pointing only slightly, the dow by 17 points s p by 9, nasdaq down by 30 tenyear treasury note, yields ticked up at the start of last week and pulled back with the yen. Back higher this morning 2. 781 yield on the tenyear. Lets take a look at what happened overnight on asian
It is a safe haven trade and commodities. David the president is getting out of town, traveling for nine days to five cities in four countries. Marty. I want to start with what the president said, he was going to bloomberg best during the slot. Yesterday, when he was at the News Conference with the present of columbia, he was talking about the investigation. Marco rubio came out and said he thinks the president is entitled to his opinion it, but we are a country of laws. Are they having doubts about whats going on in the white house question about marty there has been a powershift that has been enabled by the chaos that has ensued in this presidency. The establishment in washington, the people who make the government run have taken the upper hand and are the special counsel gives republicans cover to assert him selves and set their own agenda. David as the president goes around europe, as he tries to seize back some feedback. Marty they have planned this trip. Staff is notts shown a tr
Power lunch starts right now good day, everybody the three averages bouncing back just a bit from yesterdays selloff and three days of declines the latest inflation data fueling some gains despite those gains, the dow is on track for the worst weekly decline since april. The s p 500 on track for its biggest weekly drop since march. Check out the transports, they are on pace for their best daily performance in a month youd say maybe its a little mixed picture. Fedex, rider systems, avis, budget leading the way. We begin with a stock not doing it right investors are losing 20 of their money again today and that continues a run of pain that put the stock at a 45year low Courtney Reagan is here with more on whats hurting the company. The stock reaction for j. C. Penney and other stores has been more severe for several reasons. They had run up 20 since the last reports we did get trends so some sell on the news here but sell because big industry head winds are still very much alive for this