Banks c. E. O. s Board Members who have in many cases and by the way this is important. In the form of stock buybacks much of it with money they got from taxpayers government money during previous meltdowns now heaven forbid that i or anyone else should ask the question of whether some of these corporations should simply be allowed to go under is anybody asking that question yes we found one. One maybe lonely example look what happens this is on c n b c when a guest challenges the bailouts of their lives now remember c m b c is essentially the wall Street Network in fact many would argue its a 24 hour commercial for bankers and Hedge Fund Managers and c. E. O. s and cetera look what happens when somebody is willing to make the free market argument the capitalist argument that if a company gets wiped out so be it what out there are you are you arguing to let airlines for example fail you know. Why i mean how does that make sense in the broader scheme of the economy because its not becau
Discussing just that, an early return to work. 9 40 eastern time today on this program. There is outrage at Speaker Pelosi loading up the stimulus package with a host of items unrelated to supporting workers and industries. For example, canceling post office debt, the return of obama phones, same day voter registration, 35 million for the Kennedy Center for performing arts. What has all that got to do with getting money to people who have just lost their jobs, millions of workers thrown out of a job. However, treasury secretary mnuchin and senator schumer did meet last night, and they suggested that a 2 trillion rescue package, stimulus package, is close. Well see. All this has given the market a shot in the arm. For much of the morning, we have been limit up for the dow jones average and at the opening bell, the dow will be up, what, 900 points, maybe more when the restrictions of the limits on trading are off. S p, nasdaq also up 4 , 5 . Clearly, investors like the 2 trillion rescue
Our apologies to the half. Lets get to the judge messages of hope can bleed into this program any time thats a certainty its good to have all of you with us today as our breaking coverage continues with the market now stocks surging again today after historying actions by the federal reserve. Just about a 500point gain. Just shy of that just shy of 2 for the dow theres the nasdaq shy of 1 and the russell with a gain of 4 . Are we too far from the lows to turn back now or is this a simple bear market bounce that is likely to reverse josh brown, i turn to you first. We have regained 50 of the losses, where does this take us from here . What does all of this tell us now . Well. At first you would say we are now 28 off the low which is is extremely respectable and historically there have not been very many bear market rallies that have been carried this far. That is incredible just extraordinary after an almost 30 bounce, less than a fifth of the market is back in an up trend. Look at the
Rally, talk about a turnaround. South korea, hong kong, japan investors moving away from haven place. Remember, china had been quite an out performer. The hang seng currently up 3 . We are hearing chinese buyers are buying up those stocks in hong kong. Lets look at where futures are setting up. We see futures pointing to a higher open. It has been a volatile right. Ride. Futures volatile equity futures down about 1 despite jumps in the s p 500 and the dow. Aide, saying that the deal may not be up and running just yet. Flip the page and look at where we are, the kiwi dollar tokening further, starting buy bonds to stimulate the economy, and look at that, down 1. 7 . It is moving just like the stock market. People were saying bitcoin was a haven play. for more context in the markets, david ingles our coanchor joins us. David, could we say this is the end of the route, or a bear market rally . David it is hard to say if this is the bottom. Once markets stop reacting, that is when you know
Takeover bid by xerox saying it meaningfully undervalues hp. The ceo of hp will join me later this morning. Coronavirus fears hitting the Corporate Outlook and strategy southwest, apple, kroger, campbells among the Many Companies that are weighing in today. Well start with the futures, though, sharply lower amid this roller coaster week for stocks and wall street which saw the dow swing a thousand points or higher two times in the last three days, jim. Maybe were in for a couple of months of chop here . I think thats exactly right, carl yesterday was a very solid based on oversold relief rally the existential issue of whether a socialist would head the ticket a lot of people feel was finished because of the victory, multiple victories in states obviously by Vice President biden. But now were stuck with looking at earnings again and all that happens when you come in is you look at the 10year and then look at earnings it isnt like every company david, are you wearing those for the show i