Those gains. Tesla is trading above 1000 a share for the first time. I want to point out the dollar in yields. The dollar has been a proxy for Risk Appetite and Risk Appetite is higher when it is weaker. The fact that the dollar is weaker again signals are not entirely risk off day but you have yields moving lower by about four basis points ahead of the fit decision. Are sensitive to whatever the fed says or does. Yields were moving up yesterday. Seems to have come off a little bit today. Kailey you are seeing yields move lower and the curve flatten out a bit after the dramatic steepening we had seen. The bond market will be hanging on any word the fed may say about possible curve control from economists we talked to on Bloomberg Television. It does not seem like they are expecting a lot on that yield curve control, but that is definitely a market waiting and watching to see if we will get anything there. David thank you so very much. That is kailey leinz reporting on the markets. Toda
Week yeah. This is the expiration day so what happens is you actually its tomorrow, but people are trying to prep it what happens is rusty braziel explains to me, the rollover from the may contract to june occurs tomorrow. The reason that happens is because the may futures price converges with cash and expiration so in other words, youre looking at what the real price is its not the futures price so what happens is that imagine if youre producing at 32 a barrel, 33 a barrel like occidental, thats just youre hurting nobody can make any money at these prices rusty points out that after seeing this, the next month, it might go to zero and thats i think a lot of it is because where will you put it maybe keep it in the ground. It is extraordinary and jarring. And i think its causing the decline. Carl, whats so amazing, it was completely predictable thats why maybe the decline isis really overdone if its based on oil if its based on other factors, i dont know it looks like oil is bringing th
If you say things are okay, not as great, and youre an industrial, because there will be an opening of america, people will buy you if you say things are in line and you pull your forecast and youre not industrial, its a recipe to be sold. This is about hope its about the idea that it cant be as bad as it is right now. Youll see that even with marginal retailers, people think a marginal retail hear to come back because america is open listen, you have to go with the flow for a couple days if youre a trader if youre an investor you have to take the other side of this trade as we get closer to the opening. I think people will be surprised how little these businesses will do and how worse theyll do once we go open its not it is an opening other than auto builds wont occur. We have to be ready for that your general thinking is well get a ford plant reopening, vw doing it, boeing in South Carolina next week, but its going to be a manufacturing bounce yes more than a service bounce . Yes man
In negatives, nothing changes there. The latest negative being this fight over control. The president or the governors. That is a distraction from the main event, getting back to work is now job one. Later on the program today, larry kudlow, the president s chief economic adviser, joins us. Hes on the task force. We will ask when, where and who gets back to work. Thats coming up. To the get back to work debate, it largely excludes democrat politicians, shown side by side Bernie Sanders has endorsed joe biden. But all they can agree on is contempt for the president and some bernie supporters are saying now they will not vote for joe biden. The democrats are split. What are they contributing to the get back to work debate . In my opinion, not much. The market, however, they appear to like the idea of opening up the economy. Investors looking to the other side. The dow this morning is going to be up about 400 at the opening bell. Thats a gain of, what, 1. 75 . A similar gain for the s p a
Formula is to get the gears of economy running again. Well hear from new york governor andrew cuomo, heads of neighboring states on their plan to reopen the region. Last week was our America Works together virtual town hall where we answered your questions. Today we answer more, including responses from the administration. All that and so much more on making money. Charles well stocks are turning lower today as the market enters earnings season. We expect bottom line disasters and very little guidance. How of bad news is already baked into the market . How should investors handicap this market Goldman Sachs now says has in fact hit a bottom . Lets bring in Capital Wealth Planning chief strategist jeff saut, along with Gibbs Wealth Management cio erin gibbs. Erin, let me start with you. Enough has been done between the stimulus from the government and maybe whatever else but now goldman says the bottom has been put in. Well i think, you know, theyre still saying we could test the lows a