Good monday morning. Welcome to squawk alley. Im Carl Quintanilla with Morgan Brennan and jon fortt at the Stock Exchange it is a historic day of trading. We will begin with the selloff which did include a break with Circuit Breakers richard on the stress test for stocks, mike santoli on the crude awakening in oil prices as the saudis launch a price war. Rick santelli on a bad yield trip for treasuries and Steve Liesman on the fear and the feds response bob pisani, lets begin with you and think about whats important this morning. Whats important is how did the system respond to the immense stress that we had today. This is the first real test of the margin Circuit Breaker system set up back more than 30 years ago and we did have a halt on the s p at 9 33 for 15 minutes. The by all appearances it looked like it went well it reopened understandably some bargain hunters there, a mild lift in the markets so the mechanics seem fine. What was distressing to see what happened to Oil Stocks Pu
With you. Im annemarie green. The coronavirus continues to turn up across the country. Two new states are reporting cases, maryland and colorado are confirming first infections. In seattle, microsoft says two of in california, google is giving all of its bay area staff the option to work from home. Meanwhile, the National Guard flew in test kits to a cruise ship anchored off the coast of san francisco. Passengers will not be allowed to disembark until test results are released, which are expected earlier today. Right now, there are at least 230 cases in the u. S. In 21 states. The deatath toll is at least 12. Worldwide there are more than 98,000 infections. Naomi ruchim is in new york. Naomi, what do we know about the people on the cruise ship off california . After 35 passengers on the grand princess showed symptoms of the coronavirus, californias governor said it was not allowed to dock there. On board, everything is closed. Including the buffet, bars, casino and gym and passengers a
That steep selloff after the fed surprise move, reversing today, at least for the moment its holding the Dow Jones Industrial is good for a 2 gain at this moment s p is holding above 3,000 1. 75 . Nasdaq up by 1. 5 . The question today, i want to know the answer to, joe, is, where are we what does this action tell us about whether weve hit a bottom or not or is this a process thats going to take more time its absolutely a process thats going to take more time this process began january 17th. On january 17th, the u. S. Ten year was 184 the u. S. Tenyear fell january 31st to 1. 50 the market at that point was telling us exactly where we are right now. Now i understand 95 basis points and what i left on february 12th, u. S. Tenyear was 1. 63 were going to take the lead from where the u. S. Tenyear goes you need to see the correlation between a lower yield and lower stock prices begin to break down i think whats incredibly relevant at this point is the actions of the Federal Reserve and wh
Yesterday, i was wearing my apple watch and it has a heart rate monitor on it. An thathole last series. That game was phenomenal. A lot of people saying it was the game of the year in the National Football league. That one highlight we throw it o kittle. He says mask. Thats the only way they could stop him. Doesnt bother him. As soon as that first offender jumped on him, he went 20 yards. One of them jumped on him. Couldnt get him down. They had to stop him somehow. Take the penalty because if he would have gone to the house it would have been over. Were a little passionate. We were getting our tree and drinking hot cocoa and playing uno. Uno can get heated. You know. Lets check in with steve paulson. Fog the story weatherwise. Big time. Dense fog advisory goes till 10 00. Another hour. Not everyone is in on it but almost everyone was at one time or another this morning. Mostly sunny. Thats the good news after kind of an off and onrainy weekend. We get a little more sun if you dont hav
Home ownership. Is in discussion with the very acclaimed scholar. Thank you for coming. We are very glad to be here in philly to begin this project and 2008 2009 okay, mostly its about chicago and detroit and then i moved to philadelphia and found out there is a story here. And then part of rewriting this book so it is a very difficult book to read from it is dense the readable. [laughter] and so what i will do is give a narrative arc that in Broad Strokes what the book is trying to do and then the conversations between professor robbins and i. So now in a typical spasm of the tree all donald trump describes the city of baltimore as a rat and rodent infested mess it was a cruel and vote to disparage the hardship of the communities of that city and in doing so it conveyed fatalistic disregard for those conditions while expressing a lack of ambition to attend to something as serious. Despite the rhetoric black poor workingclass communities is not of africanamerican indifference but marke