The show. Oil finding some support from markets as we still get earnings coming out. Fiat chrysler withdrawing its full year 20 guidance. They plan to restart production as conditions allow. About 100djusted ebit million euros. Nonetheless, continuing to see withdrawn guidance. Really hard to make a decision as a Portfolio Manager when you dont know what the outlook is going to be. It is time now for todays market moving news from our brussels and new york teams. We want to begin in europe, where germanys top judges gave the ecb a threemonth ultimatum to fix qe. The court ruled that some aspects of its Asset Purchase Program arent backed by eu treaties. Going to brussels is maria tadeo. What does it actually mean, and have we seen any response from the eu on this . Maria it is a bombshell, really. The judges are basically saying overall, there is no monetary financing, which would be illegal, but some aspects of qe are unjustified, and not backed up by european treaties, which means th
One of those names we saw was wayfair, of 24 . Today alone, of Something Like 700 . There is a lot of analyst chatter that some countries like wayfair will see lasting gains from this boost they have been getting. Another name also up 7 . Saying the gains in this environment could actually end up lasting. One name that we are keeping an arts, ea, electronic their earnings crossing the wire. The q4 numbers, revenue revenue slightly above the 1. 42. Te of any sort of insight that they can give us into how the world will look for a company like electronic arts. Scarlet if any company could benefit, it would be Something Like electronic arts. ,till with us is olivia engel cio of active quantitative equities at state street global advisors. There is a note out by ubs today, saying that cash on the sidelines has grown to about 4. 7 trillion, of nearly a trillion up nearly a trillion. Do you see any kind of rush to the exits . Do you see anybody cashing out, waiting for the right time to ente
Thinnest of reeds which is why the averages were able to war today. The dow which gained 470 points, s p advancing 2. 28 . Its hard to find a positive button house of pleasure the nasdaq gaining 1. 72 . All right, what happened okay, this morning President Trump told us hes brokering a deal between russia and saudi arabia so theyll stop flooding the world with oil that will help the price of crude to rebound back to the 20s and trigger a short rally in the stock market. One that couldnt be taken down by the shroud of gloom even as the shroud kept trying to take it down. Intermittently until being ripped from the markets rarely bullish face buy, buy, buy yep, we live in a bizarre world where wall street can momentarily overlook the fact that 6. 6 million americans filed for Unemployment Insurance last week a mindblowingly horrible record breaking number. Instead, we briefly able to accentuate the positive. It might not collapse, saving billions of bad loans and preserving Energy Indepen
Chairman on what the landscape could look like. Its wednesday, march 25, 2020 cnbc special coverage of the coronavirus begins right now good morning and welcome, im Courtney Reagan live at the nasdaq marketsite. Breaking news, the senate makes a deal with Majority Leader Mitch Mcconnell promising a vote today. This is a wartime level of investment into our nation im thrilled we are finally going to deliver into our country that has been waiting for us to step up. Treasury second mnuchin adding that the president will sign the bill as it goes through both chambers of congress. Good morning this is a big deal. The thing both sides have been working on for five days straight wrapping up with a deal that we are told includes four months of extended Unemployment Insurance for americans. So getting those schechecks rol out as soon as possible. It will include disaster aid for state and local governments for hospitals and Health Systems and Small Business loans and other relief lawmakers have
Thinks peloton is not just a fad. Cap bullish sentiment coming up. Continue with dominance of tech in the u. S. Markets. Up 1. 7 percent, nasdaq of more than 1 . Is something bigger going on . Let 2019. 2019. Feels like yesterday after the signing of the trade deal, it was just the stocks that dropped. Typically a relief rally would come after a big selloff from the major averages. It feels a little bit more like perhaps the early stages of euphoria with the bubble paradigm. It and dislocation been into the economic phase than a euphoria and 10 eight. Does that match the fundamentals . Greater than 20 times forward pe, as you note last year earnings fell by double digits. They are expected to fall for the Fourth Quarter and the First Quarter of 2020. By the end of the year, analysts are looking for double digits growth up for tech and the chips. For the chips, the first half of the year is difficult. Speaking of getting ahead of ourselves, i want to show you a chart here. Another day a