Data and their stock sale this week but first, we are just getting the minutes from the last Federal Reserve meeting. It was a major one, consequential. Steve liesman digging through that release right now well give him some time to digest and dig, well hear from him in a minute. In the meantime, kelly, back to you. Tyler, thanks we are awaiting the headlines from the fed minutes stocks are in rally mode right now, as all 50 states have now eased lockdown restrictions in some way lets get over to bob pisani who has more on the markets for us bob . Im dying to hear more about what mr. Powell said in the fed minutes. Mr. Powell has been much more aggressive in talking about the need for more fiscal stimulus. Im sure that will come up in the minutes. Stay tuned for steve ive been talking about broadening in the markets. Were not far from the highs today, but what you want to see happening, the broadening, its happening again today. The banks are up, the transports are up were seeing moves
Since the coronavirus force millions of businesses to close their doors and shrink their workforces. However, the number of first drizzle. Time applications has now friday morning we sought out the day with some clouds and declined for six straight weeks, suggesting that a then becoming partly sunny into dwindling number of companies the afternoon hours. A lot more sunshine compared to are reducing their payrolls. Meanwhile here in our states, the last few days. And then into friday evening we there are 1. 2 million will gradually thicken of the cloud cover. Our next system coming on board californians collecting in the pacific, this is saturday, 5 00 p. M. Unemployment insurance, chances of rain, a better bet including most of the staff at by saturday, 9 00 p. M. The brown sugar kitchen in oakland. The owner had to let 34 of her and some scattered rain showers into sunday morning. Workers go when restaurants were ordered to shut down back in march. Usually, anyone receiving jobless be
Hello and welcome to cross town where all things are considered im Peter Lavelle crude collapse Global Energy markets are in disarray over production low demand and lots of storage has witnessed some prices go into negative territory and this is not just because of the pandemic this is the result of disastrous policies the Energy Market may never recover. To discuss this and more im joined by my guest Dmitri Bobbitt in moscow hes a political analyst and editor of you know smee media project and glenn hes an in oslo hes a professor at the university of southeastern norway as well as author of russias geo Economic Strategy for a greater eurasia original macross up rules in effect that means you can jump any time you want and i was appreciating lets go to oslo 1st glenn we have this pandemic ongoing and we have been in crisis in the Energy Markets and its easy to conflate the 2 and one in the Energy Situation in the markets has gotten worse as a result of this pandemic but they are very s
How many does it take to stop a raging bull a bull that produced the best month for the stock market in 33 years . I think we might have found out today. Looks like 30 million. Yep, just as we learned that we had the best rally since january of 1987, an admittedly inauspicious year, 1. 2 is the slowest pace this month. We also got incredibly bad news. Jobless claims bring it to 30 million over the past six weeks. No wonder the dow tumbled 288 points, nasdaq shed. 28 today this was an explosive situation. The market was overbought. We have again another Great Depression with the unemployment number that is not confidence inspiring for me i dont know about you when we saw a great labor market before the pandemic, id still be concerned after the run from the bottom stocks had gotten too hot. Were now at plus 7. 2 , the s p range oscillator, the one i swear by it fell to bottom 20 anything above plus 5 is overbought 7. 2 reading makes me concerned which is why weve been selling, selling, s
Take a look at a few charts. This stock made a low back in january 18th before collapsing with the market and didnt offer any defense and went down just as much as the market and hit a 212 low this week at 283 if you look at the next chart, this is important. If you are defensive or considered defensive, is it more defensive than proctor thats the exact same selloff offering no defensive qualities and now having rebounded 35 , but youre not back to the high, of course, and thats the nature of percentage, drawdown and ricochets. The final chart. This is a twopanel chart and this does tell the tale. What we see is apple on top, but its relative performance to the nasdaq 100 continues to stall and by my work, one is skeptical going into the print this coming week all right, carter we go to mike. Whats your trade out of this . Yeah. So its interesting as far as im concerned. Apple, you know, this obviously is a company with a fortress Balance Sheet and some would say well positioned all Th