Clawed back, closed up 26. S p 500 up 12. Nasdaq gaining one. 25 on the day or 105 points. Lets go back to the dow. Industrials, boeing, raytheon. Some worst performers and the ramped up trade tensions with china. The white house blames beijing on the coronavirus. Legendary investor Warren Buffett dumping his entire stake. Barclays downgrading american and delta on debt concerns. Look, Raymond James came out and thinks demand may have bottomed. Is this a bottom for the Airline Stocks today . Big tech also saw a comeback after the losses last week. Apple is updating math book pro. How about m a . Merger monday. Intel buying Transportation Technology company move it, all green on this board today. Energy was also a winning sector. Oil back with a 20dollar handle. It is up four days in a row right now. Exxon, valero, others rallying bigtime today. Production cuts, opec plus, plus some other cuts here in the u. S. With those shelled off wells taking 13 to 15 million perils per day off the
Alltime high. Another Federal Reserve official says he sees growth returning in the second half of 2020 and no need for negative Interest Rates. With lots to come on todays show, well speak with mylans ceo. Well discuss the companys outlook for the rest of the year and whether its seeing a trend of customers stockpiling medicines. And the ceo of Ortho Clinical Diagnostics will join us at the moment we are up 0. 4 on the s p 500. Before we continue, just got to comment, new braackdrop, i love it did you do this by yourself . No, i had some help by the amazing technical staff at cnbc. I think people were sick of looking at my old School Parking meter. Its a great balance between home and work. Cnbc, always with me. Exactly the s p 500 is up about 0. 4 nasdaq up 1. 25, dow is flat. Lets get to the markets as stocks are climbing back from sizable losses at the open all four indices just turned green. Mike santoli joins us with more on todays action. Hi, mike in fact, kind of an extreme exa
Lebanon as a currency crash pushes the economy to the brink. President taking. Place in the philippines are accused of abusing human rights as they enforce strict coronavirus measures. Full of stories to come but were going to start with lebanon where violence has escalated during a 2nd night of protests in the Northern City of tripoli demonstrators set fire to a bank and hold rocks at Security Forces who responded with tear gas and rubber bullets the protests are bernie growing as the crisis hit economy crumbles further because of the corona Virus Outbreak monday one protester was killed during the riots has more for us from tripoli. Hunger and hopelessness are driving lebanese to the streets the economy is close to collapsing protesters vent their anger at banks for preventing people from accessing their savings and a long serving political elite is being blamed for mismanagement and corruption in recent days the local currency has sharply devalued against the dollar there were casua
Drowning in debt as never before ballooning government corporate and even Household Debt piles have some experts sounding the alarm on a potential debt bomb coming we have more on that in just a minute yes we do as you mentioned, energy helping to lead thisrally higher dont look now but the tech sector just turned positive for 2020 lets get to bob for more on the markets. Bob. Sdp you youre right. Who would have thought nnenergy was a break out. Yes the green chute story still per va prevails volume is light. Theres the s p near the highs of the day energy, i know you think this is crazy but energy is on the verge of breaking out to the highest levels since the whole thing started falling apart. Nice moves up here they look like vs. These charts right now i know that sounds crazy but the big story is tech. The technology s p sector, the largest sector in the s p just on the verge of turning positive for 2020 i said this many times when you get facebook, apple, amazon and microsoft up a
A currency crash pushes its economy to the brink. This new in may president. Police in the philippines are accused of abusing human rights as they enforce strict coronavirus measures. So the economic effects of the coronavirus pandemic are being felt in many parts of the Global Economy aviation and oil in particular and they are hitting the big players has already said its bleeding cash at an unprecedented speed and announced it would cut production by a 3rd now its posted a 1st quarter loss of half a 1000000000. 00 the chief executive of the European Aerospace company is warning this is the greatest crisis the industry has ever known its u. S. Rival boeings already announced plans to cut 7000. 00 jobs with its chief executive predicting Global Airline revenues could drop by more than 300000000000 dollars this year and the industry will take years to recover and in the u. K. British airways is set to shed up to 12000. 00 jobs about a 3rd of its workforce the airline has suspended 96 pe