Past week. By thursday we were down better than 20 from the february highs. That is definition of a bear market. The dow alone, down 10 on thursday that was the worst day since the 1986 crash and black monday. That left traders unsure how to handle the virus impact and questions abound about how slow the economy will become . Are we in a recession right now right now is a boston group chief officer david monson is here, joining us this weekend with 2 billion in Asset Management and eve got the ceo of van ecks, 51 billion in assets under management 80 of funds great to see both. Thank you so much for joining us. What a week, david lets kick it off with you. What did you do, were you caught flatfooted with that 2000point selloff on thursday quest mark. Thereto answers on that, i feel we are caught flatfooted in their sense of theres absolutely no time to react not just this week but over the last weeks. It is the unlike 20,072,008 and surly not like the 2002 bear market. This came so qui
The Unemployment Rate rose to 4. 4 . However, on mornings with maria this week, i spoke with the former president of the atlanta federal reserve, and he told me that the Unemployment Rate is much closer to 10 than 3. 8 given we did see. 6 million Unemployment Benefits this past week. Joining me now to discuss the backdrop and the markets and investing around it is the alpha one Capital Partners Founding Partner dan nice. And, dan niles, and it is good to see you. Were going to get into the health part of this and, of course, what corporations are doing, including 3m, but i want to ask you about these markets. How would you look at the jobs numbers and your expectation in terms of when things might come back . Sure. I mean, i think thats really the key to the market, is jobs. As you pointed out earlier, you lost 3. 3 million jobs two weeks ago, then the most recent week you had 6. 6 million. And the funny thing is that as you get into april and may, thats when corporations, the big ones
Going on the president announces a travel ban but the lack in detail and large scale coordination is rattling the markets on the legislative side, theres little agreement on how u to move forward on any relief and just this afternoon, the fed announced a massive injection of liquidity into the market. It briefly shocked stocks higher but now weve drifted back down towards the lows o the day a number of big interviews this afternoon. Jack lew on the economic response cmes ceo, terror ki duffey on ty and ben is the former ceo of sprint currently sits on board of jet blue hell join us to discuss the pain thats being felt in the travel sector, and zoe, does it hurt we are all over this massive market sell off. Charlie from Ariel Investments is with us for the hoyer hour. Meg is tracking all the new details on this coronavirus outbreak and elan is in washington with the latest on the house stimulus vote. First, the new york fed just announcing that massive liquidity injection. Cnbcs senior
Futures pointed to the loss of more than 400 points we saw oil rebound then finally, can you see the dow futures up treasury yields suddenly backing down a little after getting up 1. 2 on the 10year yesterday now getting to the latest. Yesterday, california issued a statewide order for california residents to stay home other states and cities are taking similar steps mack, is that coming here . We dont know at this point. Closing dinein restaurants, bars, clubs and gyms washington is working on programs to keep the economy afloat steve leaiesman is like the norh star hes here. Hes got the tie on. Eamon jafers no offense that you went tieless. You have some response on the fiscal stimulus as well. Maybe well get to talk about that great market timing of a couple of those senators too that is an important one. That really angers americans we had a couple of u. S. Senators exposed in the press yesterday for uncanny timing of selling stocks richard burr sold his stocks on february 13. Some
Past week. By thursday we were down better than 20 from the february highs. That is definition of a bear market. The dow alone, down 10 on thursday that was the worst day since the 1986 crash and black monday. That left traders unsure how to handle the virus impact and questions abound about how slow the economy will become . Are we in a recession right now right now is a boston group chief officer david monson is here, joining us this weekend with 2 billion in Asset Management and eve got the ceo of van ecks, 51 billion in assets under management 80 of funds great to see both. Thank you so much for joining us. What a week, david lets kick it off with you. What did you do, were you caught flatfooted with that 2000point selloff on thursday quest mark. Thereto answers on that, i feel we are caught flatfooted in their sense of theres absolutely no time to react not just this week but over the last weeks. It is the unlike 20,072,008 and surly not like the 2002 bear market. This came so qui