You cant fell it to roll over you cant get it to fetch. Somehow people imagine there is discipline to the process that the action falls clear patterns. For example, when you get a spike of infections, the average is supported to get clobbered and that is what happened friday monday new ball game nasdaq advancing 1. 20 the bulls look at the spiking number of covid cases next to the not spiking number of fatalities and figure we made Real Progress fighting this disease so buy stocks into any kind of weakness we almost got back to even on the dow because mortality rates look like they are dropping. They are buying recovery stocks, not stay at home stocks. If you believe the spike in infections isnt an issue you want to bail on the covid stocks too many states are gradually shutting down to write this off as no big deal more on the index later in the show what happened today . Lets go over key parts. First, we have a reason that can actually be time stamped to turn around the market. This
Begin with the latest flare up in china beijing announcing new security measures in hong kong send iing the hang sang to its worst day in almost five years the move escalate iing tensions with the United States with President Trump threatening quote unquote strong reaction to the crack down so does china become a bigger head wind for the markets . Pete, what do you say . Yeah, it seems like theres a dimpt new story every day that seems to lead us up or down. On literally every day, whether its earnings one day that we focus on unemployment in your opinions. China, another day the virus of course and somebody having sort of a vaccine of some sort or another. Always something leading the markets. What i was encouraged by today, china and the u. S. And some of the issues were going to be facing Going Forward it seems to me like weve shaken that off well its been an impressive ability of the markets we could have slid easily today and down 400 points going into the weekend like a friday or
Over. And we hit the road with one of the Contact Tracing teams helping south africa flaps in the cab of infection despite the risk to his own health. Announce on the all the sporting colluding Top Level School continues in north america with the ultimate fighting championship gearing up for the set at all 3 of just 8 days. Now the government of a city in northeast china is warning of a major new coronaVirus Outbreak 7 cases have been reported in gielen and the vice mayor says theres a huge risk it could spread further more than a dozen new cases have also been recorded in nearby should land city the clusters are raising fears of a 2nd wave of outbreaks in china but our correspondent katrina you now joins us live from beijing katrina it does seem that those fears of this potential 2nd wave were well founded just what do we know about whats going on in gita. Thats right well it could be no deal it is the biggest city in the Northeastern Province of g. L. And they have the same city the
From tjx to l brands to bjs as they report sales better than feared. Coming up on todays show, the view from the south. We will speak with atlanta fed president Raphael Bostic about how reopening is going in his district plus, Scott Gottlieb has called Antibody Testing a game changer. We will speak with the head of quedel and we will ask how his companys rapid diagnostic measures are up to the traditional tests we talk so often about. As sarah said, lower 0. 6 but off the sessions low Mike Santelli is tracking a volatile day for the market. Joining us to discuss big money being spent in the race for a vaccine are Chris Meekins from Raymond James and meg terrell as always mike, lets start with you. Yes s p 500 pausing right below levels everybody is walking, 3,000 on the upside, right around the 200day average look at a oneyear chart of the s p, we spent most of last summer in this relatively narrow defined range between 2,800 and a little over 3,000. So it is familiar territory. I dont
All right, we will get to it here. For some it is cold out there. I just stepped outside, and there is a bite to the morning air, but also we. 2 sunshine, and clouds are moving out of the picture. We will get you 50s on the temperatures, as a dip to 49 degrees, warming up from 63 yesterday in the city to 70. Infants will take the big jump to the low to mid 80s. Mt. Diablo about wind, 47 Miles Per Hour. High pressure is building in, so temperatures are on their way up above average for this time of year, which translates in thall right, lets head over to sal now, and we had a couple issues front and center, right, sal . Yes, steve, westbound 80, at the macarthur, in fact, i can show you the spot where it was, right there on westbound 80 , coming up to the macarthur, they just cleared it up, but look at the time. 32 minute drive, thats usually 20. So if you are driving, give yourself plenty of time here. As kevin pulls back, you can see traffic is still a bit slow, coming to berkeley, be