After yesterdays midsession rebound, the dow initially fell more than 750 points from the trading session before that striking turn around and finished higher more than 750 points s p 500 went from more than down 1,500 and nasdaq went to close up by 1. 4 these moves came after the fed said it would buy individual Corporate Bonds, not just the etf. President powell trading these today not only on what jay powell said but this idea that the administration will be looking for a 1 trillion package it just seems like the federal government is doing the best in their economy. S p indicated up by 41 and the nasdaq indicated up by 73. Looks like this morning, the 10year is yielding 7. 43 . Watching this stuff how it played out yesterday was kind of phenomenal i couldnt believe what we were watching at the close. It was quite unbelievable you are right houj part is the government stimulus unless that leaked out watching the market. It was down. I dont like mondays anyway. Then i saw 400 and bas
Go, it is the only index that is higher for the year. Lets bring back our investment strategist at allie on global advisors. Something romaine mentioned, the low volume. They, down about 14 versus average. In may and gosell away. How much can we rely on these doesnal trends to work, or that go out the window because we are in unprecedented times . Coincidentally, we are at a point where markets are at a bit of a crossroads here. We are just beginning this reopening process. Very much the coast of the country, where the High Economic stillnancial hubs are, largely closed. There is a lot of uncertainty on what lies on the others of this process. I think the market move does put us at a point where we may be priced to a very positive or at least the baseline stable scenario. You is interesting, and probably noticed this as well, but the dichotomy in the market from a sector by sector perspective is striking. Financials, energy, industrials. These are sectors you would expect to start movi
Today but we start with todays turnaround after a weekend of threats and a global selloff that saw markets from asia to european drop, u. S. Stocks prove resilient with all tree indexes finished in the green. So faced with one of the most significant escalations in mideast conflict than weve seen in years, investors are Holding Strong could anything shake this market what do you make of the action. Welcome back courtney and tim has been away. Thank you. It is shocking. At one point the vix was 16. 5 and in an environment where the vix has no business in my opinion below 14 i explain it with beginning of the year inflows in a significant way and the fact that the Federal Reserve keeps pumping in liquidity at record paces. Now north of 400 billion since september. At this pace, by april of this year well have exceeded the alltime high for the Balance Sheet for the Federal Reserve which in my mind is just madness. I think that is the explanation. Now the fact that taib contin s continue f
Faces as well. There is also going to be, it is clear, a lot of communications between the u. S. And chinese negotiators here in the upcoming weeks as President Trump said this could take three, four, five weeks, maybe until the apec conference middle of next month to get quoteunquote, papered. Earlier today i asked treasury secretary Steve Mnuchin what a mode rap might look like over the upcoming months and this was his response. The current plan there will be deputy level calls this week. Principal level calls next week between ambassador lighthizer and myself and the vice premier. Those are things that are planned. I wouldnt be surprised if there is deputy level meet national person. I think our expectation well meet with the vice premier in chile before the president s meet if there is any final issues. If we need to have inperson meetings more inperson meetings to get this done, obviously well do that. Reporter the details within phase one have yet to be produced. Mnuchin says the
Attempt to quell protests, she said the controversial extradition bill that sparked the demonstrations is, quote, dead lam said there is no plan to restart the legislation and earlier work to amend the bill has been a failure lam suspended the bill but protests continued with calls for it to be withdrawn completely lam did not say that she is officially withdrawing the bill. She said the bill is in the coffin, the bill is dead and no one needs to worry that there will be any tactics to resume the bill in the lenggislative council term Richard Bransons Space Tourism company now planning to go public. That is according to a wall street journal report it will list shares as part of the deal with social capital company, spac. Weve talked about it in the past it was created by a friend of squawk box, spac will invest 800 million in Virgin Galactic, it will get a 49 stake. The stock market listing is expected to take place later this year. Virgin galactic so far sold 600 tickets to space at