Arabia and anybody else involved energy has been the big mover here today its remarkable to me. I want to point out apache at 4 it was a 60 stock a few years ago. Yet people are still buying it it always amazes me. Continue n contin continental. Restaurant, weak today a breaker came out and suspended its guidance unably all the stocks in that space. The red robins, papa johns, wendys d wendys, dominos are all down 5, 6, 7, 8 partly for the same reason, kim kimco came out and suspended guidance as well thats not helping their competitors out there. Utilitiel down yesterday if theres a rent holiday, the banks, the utilities are all going to be hit by that. You till ti utilities not paying the bills those are the three sectors that could be hit pi any rent rent holiday. Not paying bills and the Shopping Centers are bearing the brun brun brunt of that pain back do you. Thanks very much. The number of americansrocketing over the past two weeks. Lets get to steve for the e e details. I want
The banks and government begin to roll out a 350 billion loan relief package Consumer Staples just turned positive rest of sectors are negative 59 minutes left of trade coming up on the show, well speak exclusively with Jeffrey Katzenberg well ask him about the Coronavirus Impact on the entire Entertainment Industry plus, the ceo of go daddy yoins us with a look at how Small Business clients are dealing with the kris and of course with job losses but we begin with breaking news in washington. President trump meeting this hour with executives from Energy Giants like exxon and chevron at the white house. Brian sullivan joins us now with more about what we know, brian, about this meeting yeah. What we know, what we dont, thank you very much. A couple of things here, one of which is obvious, one less obvious. These oil executives, the ones weve talked to, that ive talk ed to off the record, said theyre not looking for a bailout. They dont want any kand kind of a bailout. Theyre being reque
Meeting, many of us have been talking together but we cannot get done what needs to be done, only you and the administration can critically given attention of the saudis and flooding the markets adding insult to injury at a time when our economy is suffering anyway because of the coronavirus. So this meeting could not be more timely. I agree with whats being said about the importance of Affordable Energy to our standard of living and really we change the world as a result of the production of Domestic Energy here in improve the quality of life for a lot of people. Thank you very much. Youve done a great job. John, i agree, we were talking the other day that weve all done well and weve also kept energy very affordable, very, very affordable and a lot of it, we never had any problems, we will keep it that way. Do i see dan back there, i was lucky and i thought that look like dan. I want to thank you for convening this meeting. The Trump Administration working with the congress in the u.
Futures trading was halted yo ed overnight. If were down 7 , you halt for 15 minutes down 13 , you halt for another 15 minutes if down 20 , you halt the remainder of the day some people wonder how long we will be trading at the open. Yeah. Look, i think the problem is twofold no one thought oil was coming. Theres a very, very different approach by some to whats happening with the virus some people are saying not enough others are saying, listen, were making too much of it. Im in the distinct not enough camp i come back and i keep thinking about david tepper and what he said to me at the super bowl i dont know if we have that i think we do is the booth ready on that going back to midfebruary early february day before the super bowl i came back and have never been the same i know people have accused me of being fear mongering for weeks now. No, i think im realest mongering. Were trying to back into it, you have to try to figure it out. Ruined the environment of the setup right now. Whats
About 800 points on the dow. Youre still looking at a loss of greater than 5 a huge story today the crude oil crush as the saudis initiate a price war. We should think about it in terms of the speed and velocity of decline the s p the is down about 17 . We hear about the news with are the russians and saudi arabia. The problem i have is you have a very healthy patient being the market now it appears to be in intensive care we dont seem to have any doctors around to treat them in intense iive care negative rates are present in the uk, first time ever. We are battling here in the United States with the potential for negative rates the missing link in all of this which is what we saw in 2008 was a global coordinated effort. There does not seem to be a globally coordinating effort to address that i think thats what the market is riding against. Liz young, what do you see . Lets start with the globally coordinated effort i think theres been an effort from Central Banks thats been reasonably