Transition naming a longtime democratic confidant as chief of staff. And the wait is officer as tas over as the masters tees off. This is worldwide exchange. Im all right be in worry about me, you got to give me a fight good morning, everybody, from wherever in the world did you may be watchings did you get the golf caddy shack reference there . I know it is early lets tee it right up and get to a check on the markets and your money. Futures are mixed, but they are turning around at this hour, you mostly get the overnight trade, but nasdaq futures did just turn in the green. No new records yesterday, the dow do do dow down you a bit on wednesday. Did that break the new record high but it was a big day in many ways otherwise and maybe a big sigh of relief for many tech investors as the nasdaq bounced back after a tough beginning to the week. Big gains on stocks that also had a tough start to the week. I just combined apple and amazon well call it amle here we go zoom, decrease could yoc
The big apple housing bust how hard is new york City Real Estate being hit and if it will get any better anytime soon . It is wednesday, may 6 you are watching Worldwide Exchange on cnbc. Good morning, good afternoon or good evening. Welcome. Im Brian Sullivan thank you for watching here on Worldwide Exchange on wednesday morning. Here is how your markets and your money are setting up. Futures about 145 points on the upside parts of this due to reopening the economy. Remember this, the dow was higher a week ago before we started talking about reopening. More likely the move is that hedge funds now have the highest net exposure to stocks big tech, once again, the names you know, the faang stocks outperforming again yesterday. Oil is part of the story as well it tells the story of more demand down the road oil up again this morning. Now up about 30 in a week demand for gasoline is slightly on the rise. Production cuts for chevron and exxon and others coming faster than expected in the Un
You are watching cnbc. Good morning, good afternoon or good evening from wherever in the world youre watching. Im Brian Sullivan im glad to be with you during this troubled and turbulent times. Coming off friday 700point game gain for the dow futures are lower, indicating a drop of about 200 points for the dow, slightly less for the nasdaq 100 your big story right now is the price of oil and a new week bringing the same old story prices, they are falling in a big way. The may contract right now at an incredible 14 and change per barrel now down 22 overnight. The may contract, keep in mind, does expire tomorrow its also important to look at other contracts. Primarily the june or july contracts for oil. They are slightly less dire. The june contract at about 23 bucks. The problem with oil is very simple there is so much oil being produced around the world and so little demand right now for gasoline or jet fuel that unneeded and unused oil is simply piling up everywhere. Many storage tank
To pressure to satisfy Capital Requirements can European Finance ministers agree. Saying common debt is a necessary to fight the impact of the pandemic lockdowns across europe is set to be extended as they say the peak has not passed. A meeting today will review the restrictions. Lets not tempt fate here we are higher. Up 1. 7 at this point. That was pretty much in line with expectations on the futures about an hour ago or so. The issue is how willing will investors be on holding the position when many of these markets will be on a fourday holiday. There will be a lot of things floating around. Do we get a euro group agreement. Do we get an oil market agreementout put at this point do we get some progress on the virus plateauing at this stage lets show you the European Exchange and what is happening in individual markets. There are some individual reasons why these markets are doing what they are doing. Some relief in the housing sector for red wood. We also saw the bank of england tal
Suffering the biggest oneday loss in two years. The dow dropping 3. 5 . The worst day since february 8, 2018 the s p losing 3. 4 . The worst day since february 5, 2018 about 5 off the record intraday highs. This morning, futures trying to pull off a bit of a turnaround after a sell off for the dow we could see the dow open up by about 80 points. The s p up by 9 points and the nasdaq up by 50. It is not much but something well see can stick in this session. Bouncing back from record points in those moves, 10year note drifi dr drifting lower twoyear note yields 1. 45 gold giving back a chunk of its gains. Currently 1,653. 40 thats comex index it is a run towards sevenyear highs. The market message is stocks tend to bounce back quickly from days like yesterday. There have been 18 drops on mondays s p 500 and the following day has seen an average gain of 1 well see if those green arrows stick. Bouncing back with a big picture in asia. Remember, tokyo was the focus. The hang seng up about.