Colleagues. It was a mostly ugly week for the market, and it ended really strongly. Its kind of schizophrenic. Whats going on . Well, the market was due for a fall after having the kind of rally it did, and it finally got an excuse this week when covid hospitalizations started rising. Its not in places like new york that have been hot spots before, but in places where it really hadnt been like texas and arizona. And that kind of freaked the market out because if there has to be shutdowns around the country at different places, it means that the economy cant come back as quickly as people thought. And this became a big risk. And with positioning extended the way it was, it was just the perfect rest recipe e for a selloff. Jack any idea why we had that nice bounce on friday . It was oversold going into friday morning . I think thats a big part of it. There really wasnt any news out there to make it go one way or the other. One of the things that might have been overlooked in the selloff
Weve given all of that back and then some. Yesterday, the market was down by 1,861 a decline of 2,443 points. All of that over the previous sessions we had given back futures are up by 626. Normally, thats the type of move that would make you sit up and say wow s p indicated up 69 points nasdaq up 192. Treasury yields have been moving all over the place as well we did see the 10year on monday up 0. 9 . Higher than that this morning, up 0. 2 on trading yesterday. Accelerated on the day everybody was on tender hooks to watch what would be happening here are some highlights of what is on tap car line, former citigroup ceo, former white house chief of staff, founder and chairman of Interactive Brokers joining us there. A lot going on there todays top story, uk gdp following 20. 4 in april the largest monthly fall on record as the pandemic lockdowns have battered the economy. Londons ftse down more than 18 , thats just year to date. Has liesman heard yesterday, the annual kansas fed symposi
Prepping to set sail again right the total time to boost their new i. Q. So as u. S. China relations deteriorate decades old tensions in the South China Sea are ramping up between both countries well a number of nations have conflicting territorial claims in the region in the United States seems eager to strike that fire to the detriment of china our case alex one hell of it has that story. There from the United States armed forces are patrolling the South China Sea were conducting a lot of surveillance flights we have conducted a number of the Taiwan Strait transits we are continue to watch closely what the chinese are doing and the u. S. Is keeping an eye on china in its own neighborhood using intimidating military hardware such as b. One b. Supersonic bombers in the sky and warships in the water. The trumpet ministration also plans on deploying long range cruise missiles in the Asia Pacific Region china has called americas maneuvering and illegal trespass and has put the u. S. On no
Youre watching kron 4 news. To make it crystal clear. That theres no light switch and there is no date. Now tonight, california governor Gavin Newsome continuing to tout science over politics when it comes to reopening the state thank you for joining us at 9 oclock everybody im grant lotus and Vicki Liviakis newsome made those comments during todays state briefing. This is some counties including napa county ease some of their stay at home order restrictions. Well county leaders there do note require you wear Face Coverings in public. They say they strongly recommend you do so, and theyre now allowing some businesses places like golf courses, Construction Companies to reopen kron fours Taylor Bisacky explains. On wednesday for napa county modified and shelter at home order allowing for some businesses to get back to work as long as social distancing protocols are still followed we could call our show see attar the other engine, bay area where cunanans murders are similar to disallow sa
Keeping an eye on the treasury market, the 10year right about 0. 638 for that yield. Right now time for the squawk planner. The American Economy has lost about 8. 8 million jobs in the last three weeks economists are expecting the loss of an additional 5 million. Well get Housing Starts data with a decline of 15 for the month of march we have a big lineup of guests starting at 6 30 eastern with black rocks larry fink. We also have ken fine berg, dr. Emanuel, barry diller and House Majority leader mccarthy coming up and cases to top 2 million u. S. Cases top 640,000 new york cases over 21,000 new york governor now squarequi people to wear a Face Covering when out in public that takes Effect Tomorrow becky. Joe, everybody in engel wood cliffs right now is wearing a mask everyone who is not on air it is something they are take very, very seriously too im thinking about exactly what it means when we are all trying to get back and when we are in the nasdaq. I think in the entire place, it i