It may not rhyme but its more compelling than sell in may and go away. It was something i heard many years ago and then it turned out to be a terrific summer rally, because of a rhyme sell in may and go away is suboptimal advice, but this may it just so happens the markets run too much versus if fundamentals the dow plunged 622 and the s p losing 8. 2 . And the nasdaq knowsdiving 3. 20 off the rails. Now, after a week that ended in a bombshell after President Trump talked about the possibility of retaliating against china for not doing enough to stop the coronavirus, i dont love the timing here but if theres one thing weve learned, you need to take the president seriously when he threatens to take action against china, because hes done whatever he says and thats bad news for the stock market let me put it this way in 2018 and 2019 we went after the peoples republic with both barrels. We were in a position of strength strong gdp growth and incredible job market 30 Million People have lo
More green shoots are being seen in the American Economy. Well he show them to you. It is monday, may 11th and this is Worldwide Exchange right here on cnbc good morning, good afternoon or good evening, welcome from anywhere in the world youre watching im Brian Sullivan thank you for starting your week with us here on cnbc lets get a check on your monday morning futures. Dow futures up just about 40 points we are coming back backtoback solid sessions for stocks, the dow was up 450 points on friday. And it capped off wall streets first winning streak in nearly a month. Even thousagh it is early mornig this may be the most eyeopening stat youll hearle all day with the recent rebound the nasdaq 100 is now only 5 from its alltime high. Onethird of that index is up 25 over the past year think about that, folks. A Global Pandemic, nearly global lockdowns and the nasdaq 100 just 5 from alltime higher oil reflecting a more optimistic tone lately. Around 24 a barrel. Down 3 but well off its low
Green. Were currently holding onto some gains despite the miserable number out of adp, 20. 2 million jobs lost in april looking at commentary from disney and gm on various stages of reopening in shanghai, here in north america and the nasdaq continues to confound some of the bears as it is less than 1 from going positive for the year. Its actually pretty incredible and speaks to how defensive those megacap tech names have been viewed to be by investors in the market and for good reasoning looking at what weve seen so far where earnings are concerned. The other thing to keep an eye on is crude prices after five Straight Days of gains you have futures up 28 for the month of may so far. Those coming up because of the u. S. Private payroll numbers, that 20 million plus drop in april, which was not unexpected but still obviously so painful, especially when you put it in context of being the worse jobless in the history of the adp report that as you balance the daily data that shows decrease
Those shares are sinking as well the governments Small Business Lending Program ramping up with more than 200 billion in loan processed as companies wats it get paid out well tuk the ceo of presman auto who has already received his money. One of the fortunate ones lets kick it off with bob who has a closer look of what to expect from this quite unusual earning season very unusual. One for the record books well be starting tomorrow with jpmorgan and wells fargo they are trading down. Thats not surprising. The banks tend to trade to the down side. The Regional Bank vs been week with the rally that are 30 where they were at the end of february what are we expecting from earnings season overall. Its a real mish mosh. Clue lessness. The range of estimates on these companies from q1 and q2 from high to low is enormous. That means people dont have any idea of what will go on. Theres a number of company, almost 100 at this point that have withdrawn guidance recently its very hard to figure out
Theres a mutuality that requires of this moment we issue a statewide order for people to stay at home. The governor is warning that many of us could get the virus if we do not follow his orders. The data shows 56 of the state could get coronavirus. People of all ages are contracting the virus. These are the latest numbers from the cdc, about the age of the patients in california. 448 cases are people ages 18 to 64. 13 cases are children and more than 200 cases are people 65 and older. Here is where we stand in the bay area. Now at least 468 cases. As those cases grow, local hospitals are rushing to meet the demands for testing. Right now lets get a check of the forecast with kari. Good morning. Lets head outside with a live look in dublin where weve seen quite a few people out this morning still heading to work, and we are going to have a cool start to the day as we see temperatures that will be in the mid40s even dropping down to 39 degrees in the next hour or so and then rising into