Inspect a face mask production facility. Its a clear signal hes out and about for the first time in weeks. The markets like this. The opening up, that is. Look first at the price of oil. Th 23 a barrel. Thats because production has dropped sharply, limited supply and the likelihood of a pickup in demand as more businesses open up. The president just tweeting on that literally moments ago. Here it is. Oil prices moving up nicely as demand begins again. Thats the backtowork movement evident in the oil market. Stocks, they are going up, too. Reopening is popular with investors. Look at this. Lot of green, lefthand side of the screen. The dow is going to be up about 300. The s p up 36 and better than a 100 point gain for the nasdaq. Yeah, tuesday, may 5th, a positive tone today, if you ignore the everwhining media. Varney company is about to begin. Stuart lets get right at it. We will bring you an update on the reopening of the country. California and new york, both outlining their plans.
Stimulus package. Well get reaction from republican senator Marsha Blackburn in 25 minutes. We have a jampacked show for you on making monday nip. Making money. Charles stocks soaring right now in hopes that the coronavirus outbreak is nearing a peak in the United States which could mean a sooner return to work with means the economy comes back on. The Bernie Sanders news suspending his campaign doesnt hurt either. We saw markets gains erased right into the close. Looking under the hood of yesterdays session, there were a lot more winners than losers. Much smaller stocks at new 52week lows and much more volume in the stocks up than the stocks down. So the question here is really with quality rather with leadership on these up days, the roll of technology as the market tries to regain the equalibrium to eventually move higher. I want to bring in two of my favorite market guests on all of this, gary kaltbaum, kaltbaum Capital Management president , also fox business contributor and Herit
Points hallelujah. S p soared 9. 38 . [ cheers and applause nasdaq pulled 1. 28 it feels like 2008 when the Congress Approved the bank bailout. On the for the stock market to start crashing not long after. Sell, sell, sell. The covid stimulus bill will pass and pass on the second vote heres the problem weve been in the worst bear market i have ever seen. We have been down endlessly. Proprietary s p oscillator i follow keeps registering a minus 20 reading making it the most deeply oversold moment in the history of the oscillator. When you get that level negativity, endless, endless, endless, you get a coyle spring of a market. Usually snap back with a vengeance. Typically based on short sellers ringing the register to close out their business remember if you owned a stock and it kept going up, up, up, you might want to take profits then it goes down, down, down, you might want to take profits if youre betting against it and, look, its very bullish that Congress Seems to be making progre
One Infectious Disease doctor in washington with buckets of nasal flu swaps wanted to test those for covid19 it was told by the federal government no. Doctor helen hsu said screw it and started testing and found positives from patients who had no contact with the wutang clan. Hundreds of doctors, researching clinicians all across the country putting their energy toward solving this horror. But they are having to sidestep the federal government to get anything done. We are a little late but not all is lost their markets and labs to for the growing fear. I am convinced we will knock this thing on its yes, barriers are being moved, and that means innovation, necessity is the mother of invention. And this mother scratcher is ready to rock. Bureaucracy is the enemy, but you have a lot of friends out there who would use their individual superpowers to save the day and bring us back to boring old normalcy, and thats the memo. Kennedy one of the nations Top Health Officials of doctor fauci ske
Call me nothing is business as usual anymore. We know that we have had a collapse of Epic Proportions thanks to the coronavirus, Oil Price War dow plunged another 2353 points today. I do not even feel like pressing the buttons. Oh, jesus. S p plummeting and nasdaq diving these are hideous. I get it these are scary times. Were afraid for our health and the health of our families we dont want to lose our jobs we dont want our nest eggs crushed. Ive give you a sixpart plan that could blunt the Financial Impact of the outbreak while allowing us to contain the virus, maybe save you some money. I know we can beat this thing, okay i know we can, but beating it most likely at this point means causing a recession. We know this is coming thats whats causing these stocks to go down. We should do everything we can to make it easier for the hardworking people of this country. But in the end, this is still mad money, not mad science or mad public fiscal policy that means what do we have to do we act