Fired for not properly performing their duties during this outbreak. And for all of this were joined by boom bust cohost christiane who is joining us once again from Los Angeles Christy thank you so much for joining us today. Christy after record highs on wednesday the 3 major benchmarks here in the u. S. The dow the s. And p. And the nasdaq all took early losses before kind of stabilizing in the afternoon and just taking you know fractions of a percent off but at this point do american markets actually have any idea how to react to what is going on with the quote a virus. Well at this point i think you just pointed out the markets really dont know how to react because dont forget today midday we did hit all the new 52 week highs again in the s. N. P. 500 so at this point the bank of markets equity markets know that no matter what happens the central bank is going to be ready to bail it out so the good the bad news is good news narrative is still very much intact so in times like these
Earlier this week we actually had an opportunity to speak with one. Out of beijing and he spoke about what is being done to make sure this doesnt have a lasting impact. In fact im just c. P. B. O. C. Chinas central bank injecting one trillion yuan or 170. 00 around 170000000000. 00 u. S. Dollars into the market to boost the could be making lending easier and if sars is of any indication remember when sars was rampant in china in 2003 the chinese economy went from 11 percent in the 1st quarter. To 9 percent in the 2nd quarter but when the epidemic was contained the growth rate bounced back to 10 percent and that grades continued for the subsequent weeks quaters and years kristie what do you actually make of this analysis from. I think what he says is absolutely correct that if once this entire virus is contained china actually rebound in a very strong way because lets lets face it there is no other nation in the world who is as good as mobilized nation in terms of getting the personnel
Much to get to on this very busy day so lets get started. And we begin with a huge new surge of over 15000 new coronavirus cases reported on just wednesday alone and that news was enough for chinas leadership to oust 2 communist Party Leaders in the who by province in the center of the outbreak the news of those new infections means that indications that the virus was beginning to taper off thats what so many had hoped for is simply not accurate and when it comes to markets they reacted markets down today thanks to concerns that the worst is actually not behind us after all and that Chinas Health commission has reported more than 1300 deaths and now more than 60000 infections aside from the 2 Party Officials who have been ousted in china hundreds of other officials have been paralyzed and dozens were fired for not properly performing their duties during this outbreak. And for more on all of this were joined by boom bust cohosts christiane who is joining us once again from Los Angeles C
No. Celebration of Washington States brand new pot law. Yes, theyre smoking joints. I dare you, like double dare you. Obama administration bites and says, yeah, were prepared to go off the fiscal cliff. Roger goodell, the commissioner football fans love to hate. Theres a softer, gentler side of goodell. Seriously. The nfl commissioner you dont know. Newsroom starts now. Good morning. Thank you so much for joining me. Im carol costello. Smoke em if you got em. Recreational marijuana is officially legal in Washington State. Shall we say a rather mellow celebration at seattles space needle . Pot smokers lit up like it was new years eve. New voter approved Initiative Went into effect midnight. This pot party technically, is illegal. Wzs law bans smoking pot in public places. For now the Seattle Police department is turning a blind eye. This notice was sent to all officers last night. Until further notice officers shall not take any enforcement action, other than to issue a verbal warning,
In todays first look the jobs report out this morning could dominate the trading day. Its expected 185,000 jobs were added to payrolls in november. And the Unemployment Rate ticked down to 7. 2 from 7. 3 the stock market has been selling off into the report. The dow and s p dropped for the 5th session, yesterday. The market is having a small anxiety attack that decent job growth could cause the fed to taper its bond buying program. Gold lost 22 dollars. And oil edged up 16 cents pension tension in illinois. The governor has signed landmark legislation that includes cutting benefits to cover a 100 billlion deficit. Unions are planning a fight. And starbucks is out with a fancy shmancy metal gift card. That costs 450 dollars. It goes on sale at noon est today at gilt. Com. Only 1,000 are available. Tim mulholland of china America Capital joins us now from the Trading Floor hes getting set for the jobs number coming out today. Will we see jobs on the rise . Given the adp report, the gdp r