Was up 41. The dow is up 43. It had been up 331, if that tells you anything. We have this developing news. President trump about to possibly address the media ahead of his trip to North Carolina where hes expected to lay out his vision for health care if he is elected to a second term. We are going to take you live to the white house as soon as we get the tape if he does stop to speak to the press. It all comes as a new wrinkle develops in oryacleorac deal to take over the popular chineseowned video app tiktok. Breaking news in just the last hour. A federal judge has just inserted himself into this battle. The deadline to ban tiktok, this is the extended one, supposed to be sunday night. But now all bets are off. Republican senator roger wicker of mississippi, he did not like this plan to have oryacle take Partnership Structure with tiktok. He sent a letter to the president along with several of his republican colleagues saying outright they oppose the deal as it currently looks. We wi
2. 3 trillion gauntlet against the economic catastrophe caused by the pandemic it was remarkable move coming within seconds of the devastating news that 6. 6 million more people filed for Unemployment Insurance last week the averages were actually able to rally including the down and out stocks dow gaining 286 points s p climbing 1. 54 nasdaq advancing 7. 7 . Without powells extraordinary i was blown away extraordinary announcement, the hideous jobless claims would have pancaked the stock market. Weve gone from the strongest labor market in a half century to one of the weakest in no time flat it didnt matter to wall street because the fed is buying all kinds of distressed debt you dont see i keep saying its so important. Buying municipals. Some of those are hurting. Buy high yield Corporate Bonds thats fabulous news because those were two big pressure points in this rapidly deteriorating economy. What a difference from the old days between the 2. 2 trillion rescue package from congress
Dow advancing 47 points. S p gained. 52 . But the nasdaq jumped. 9 . Hallelujah with todays strength its important to note that the nasdaq and s p both finished the month of february at record highs. Something i regard as quite simply amazing given all the woe and worry that we endlessly hear about. What fueled todays rally . Its actually a complex formula of emotion and Empirical Data ware widespread sense of negativity gets proven wrong and remember, why we like stocks shines brightly. Smashing the allencompassing gloom. The house of pleasure lets start with the setup. We get data from all sorts of places the census bureau, bureau of statistics, bank of st. Lou, s p global, commerce department. Often these figures dont mean a hill of beans but periodically when the fed is in play they can mean everything. Especially if you know that the fed cares about some pieces of data more than others. Right now the fed is very much in play. Weve been getting some hot Economic Data of late. They
We get whacked upside the head and the pain the house of pain. Can be excruciating by stocks even if its masked by the placid averages as we saw today. The dow slipping 48 points and the s p. 22 and nasdaq declining 1. 9 and boy did it feel worse than that. For some stocks there was no escaping china whatsoever even though the Chinese Market rallied yesterday, we got news out of bmw that was extrapolated with negative pin action. Quite upsetting. To quote a reuters headline, worsening Chinese Market could hit forecast. The article goes on to say that bmw which happens to be the Worlds Largest luxury carmaker warned on tuesday that the financial forecast for this year could be at risk from any further deterioration in the Chinese Market where theyve begun to fall for the first time in a decade, end quote, such as bmw thats squawking while the stock market really ails. Audi, good company. Worldwide sales leader said the same thing not that long ago. Ford and gm, we know theyre struggling
Later, johnnt and kerry tells us by china must address its Cyber Security issues. Anathan it is referendum right here in the u k. Law prevents them from reporting on the voting or discussing or analyzing the referendum while we will follow the action beginning at 5 00 eastern time. A quick look at the markets. It futures in the United States are positive. Dow futures are up. The s p is up wonderful percentage point. The european rally continues. Up for the board, it is one of 49 very briefly today. Is 114. Dollar treasury yields are a little but higher. Now lets go around the world and check in with our team for indepth coverage. Francine is in london. Susan is join us in it new york. London. Moore is in jonathan lets pick it up with the data out of europe. We have some disappointing news in france. Lets bring in francine. Sub 50 is not pretty. We sell a 48 in there. 50ncine anything below indicates contraction. The matter what indicator you look at whether its employment or gdp, they