Well in many states. Businesses are holding back from spending amid the pandemic and stimulus talks appear to be at a standstill once again with leaders from both sides accusing one another of moving the goal posts in the negotiations. Unlikely we will get a stimulus before the election. 59 minutes to go, dow down 2. 2 . Lets get to the stories we are watching right now as stocks fall sharply mike santoli is tracking the market selloff for us. Which parts he is watching in particular meg tirrell digging into the latest covid numbers mike, whats the broader take on what is happening today average bit of a rethink on a mull pent fronts the idea that covid might cause more business disruption last week the s p 500 was skirting this boundary between this sort of breakout level we had and around 3,400 we are actually below that right now. Did a little bit of damage s p and the nasdaq fell below the 50day average the s. A. P. Warning probably evented the nasdaq from doing a better job of sup
Us with your thoughts with your first name, city and state at 202 7488003. Or you can go to twitter at cspanwj and facebook at facebook. Com cspan. Whether it is rental assistance, help with your mortgage, you thinke costs, or your state needs aid from washington, help with colleges and schools, whatever it is, whatever economic aid do you need . That is our conversation this morning. Joining us on the phone is eric watson, congressional reporter with bloomberg coming year to give us the latest. Where do negotiations stand in washington . Guest we are still at a stalemate. There was a latenight meeting between mark meadows, secretary mnuchin and schumer and pelosi. There is talk of a standalone bill to a expand to extend extend Unemployment Insurance. Schumer and pelosi are united, and polling numbers show americans want a massive stimulus package with the American Economy stuttering, so they are insisting on more than a barebones package. They are wanting to see one of and locally, st
The session, sara. Come back after two down weeks. Coming up on the show, tech investor Roger Macnamee is with us and gold strengthens, the dollar weakens and home body stocks outperform well break down the trades and themes in a few minutes with David Rosenberg. Lets focus on the key stories mike santoli watching the bounce back rally meg tirrell as the president participates in a Coronavirus Briefing and the other big Market Driver this afternoon, the stimulus negotiations in washington new details expected this afternoon. First to you, mike yeah. Sara market really is a bounce in large tech stocks that is carrying the s p 500 to the high end of the recent range. Pretty well mixed market under the surface. Those big nasdaq themes carrying we spend most of the day, interestingly enough, almost exactly at those early june eyes we were looking at for a while not sure there is any particular reason we have to sit there. 3232 is that level basically that, is where this nasdaq rally has ta
Spending in france and switzerland neglect any of if january and twos, threes and fiveyears are measured in basis points the dow plummeting 3200 points in the week the worse since the crisis yesterday experienced the biggest oneday point drop ever, 1,109 points as we approach the end of the red february for stocks the dow is the weakest of the three major indices, down almost 9 monthtodate. Goldman again this morning, jim is saying they dont think this is over and that buying the dip is in their words riskier this time theres no doubt about it s theres a part of of the s p and its good to look at individual stocks here that are not buyable and if anything its involved with travel and leisure, autos, housing, because house something sl housing is slowing down and i dont thinkfed cut rates it would matter we do need to talk about something at the cooperman, and ive always talked about which is the algos are in charge i noticed this morning at 3 00, what am i doing up at 3 00 the bond Int
The market is doing what is it always does. The market is testing the feds resolve. Markets like to see the Central Banks step in. The case is strong for them to step in. They want the fed to cut. I dont the fed will cut. They should be cutting. I dont think the fed should cut. Monetary policy is prepared to act, but will it be effective . The effectiveness would be tremendous. Interest rates are not vaccines. We would see a little bit of turnaround in the markets. The fed is fairly impotent in this environment. On the other hand, if they do nothing, it could make the situation worse. Jonathan joining me around the table here in new york, Subadra Rajappa of societe generale, Mike Schumacher of wells fargo, and, in houston, crossmarks victoria fernandez. Victoria, i want to begin with you. We should start with efficacy of the central bank move and the willingness of central bankers to step in. Lets start with the latter. Where are they . Victoria we are not seeing them willing to do any