Stocks way down. This morning, down some more. Look at this. The dow is going to be off over 250 points at the open. The s p, 26. The nasdaq, 64, 65. Now, treasury secretary mnuchin says we can get those jobs back by going back to work. The president is very forceful on this. This is what he told maria on opening up the economy soon. Watch this. I want them to open when they can, when they want, the governors are opening them. Most of them are either opened or opening or considering it. I think that we have to get back to work. We have to get our country back. We have to take it back. It was artificially closed. We did the right thing and now we got to get back. We got to bring our country back and its going to happen and its going to happen fast. I call it a transition to greatness. Stuart hes going to pennsylvania where six counties are defying the governors Strict Lockdown rules. The president will likely address that issue today. Meanwhile, a successful Court Challenge to a governo
Hour with our Investment Committee today. They are our committee let oos get a check lets get a check on the market. Stocks are marching higher we are right near session highs. Lets take a look at what exactly is driving things and for that, well start with josh brown because youre in the box right next to me right now what can you make of what this jobs report told us and why does the market continue to rally given the fact the economic prospects may be so dim . Im pretty comfortable saying this is the worst monthly jobs report any of you watching will ever see for as long as you live this is it this is the ugliest youll see we have lost 20 million jobs the all time record was two million jobs after world war ii and the worst we saw during the great financial recession a generation ago was 800,000 in a month. Youre not going to see this again. I think whats important to point out and i want to be delicate in the way i say this wall street is coming around to the fact that for the most
To rise. S continue the u. S. Now topping one million american deaths, now surpassing the total suffered in the vietnam war. President trumps top infection expert says the virus is not truly going to go away. Anthony warns any reopening of the economy must be prudent. Breaking news out of south korea right now. We are getting march Industrial Production numbers. When it comes to the month on month figure, a gain of 4. 6 . This was a much bigger than gain then was expected, reversing two months of declines. When it comes to the year on your number for Industrial Production, it is a gross search of 7. 1 percent again. The expectation was at was for a contraction. We have seen the south korean economy really battling the coronavirus pandemic. We had seen First Quarter gdp sinking seeing the biggest drop since the financial crisis back in 2008. It seems that we have a little bit more optimism when it comes to the Industrial Production side of things. We are going to get samsungs final earn
Virus could soon peak in new york city. Weve already seen the apex in madrid italy is clearly over the hump that means buy storks. Cover your shorts. The bull is backs todays run d 1627 points marking its best day in two weeks s p soaring 7. 03 . Nasdaq 7. 3 . Can it really be this easy or does this represent too much optimism i think its a bit of the latter wall street is a group of index buyers and traders when we care about the new number of coronavirus cases, number of hospitalizations and mortality rate index buying was so intense it moved stocks like they were play things now, does that mean we should buy the nasdaq when we have more ventilators, sell it if we dont have enough personal protective equipment . Do we buy the s p retail etf when we get a decent number from, i dont know, Governor Cuomo . No, its kind of ridiculous. Were simply seeing, though, the flip side of what happens when people were downbeat as they were last week when the president s team told us some pretty ho
Outbreak in the u. S. , but new jersey reported its worst day yet. More money for Small Business as the treasury secretary and lawmakers signal additional funds will be allocated for the Small Business program, which has seen enormous demand and m. G. Firms from exxon to halliburton may lay off workers in light of the economic turm l turmoil. Well speak with the ceo of verizon about the companys effort to keep students informed while they are away from school. And the ceo of state street will join us. We have details on the Small Business relief meeting that is taking place this hour at the white house. Mike santoli is tracking the markets fading gains this hour. Ka kayla, first to you on breaking news in washington reporters are entering the roosevelt room right now where President Trump and his economic advisers are set to host a Virtual Meeting with a slate of financial industry ceos to talk about what they are doing to assist Small Businesses. The list of attendees includes some of