On the roundtable tonight, ben levisohn, carlton english and jack howe. Ben, im going to start with you. According to the textbook, the value of stocks is based on future cash flows. And with Interest Rates so low, of course, those future cash flows are a little more valuable. Add that to the fact that this Coronavirus Crisis presumably will pass over a couple quarters, and that hes eye academically at least the stock market should be rallying. To you buy that . Do you buy that . I think the market in some ways have lost its mind, but theres so much money out there right now. The feds dumped money and the governments put money, and now were seeing this good news in terms of reopening. And, you know, its as if we can just look past, the market is looking past all the bad stuff right now to a time when everything is back to normal. And if we can get back to normal, if earnings can get back to the trajectory they were on before, if the economy can get back to the trajectory it was on befo
Dire projections and devastation from covid19. Were down five basis points good lineup today well speak exclusively with the cfo of tyson as concerns mount about the safety of Meat Processing plants. Plus, Mike Novogratz will join us on what he makes of Warren Buffetts comments on the airlines and market, plus, well speak with tom steyer about the path forward for america specifically, he sits on californias task force to reopen the economy along with janet yellen and tim cook. Well start with breaking news from the treasury. Kayla has more from washington the Treasury Department says it expects to borrow just shy of 3 trillion in this quarter alone to fund the expenditures outlined in the cares act stimulus and also to off set the individual and Business Task revenue thats not coming this because of that delayed deadline to say this is a record amount is an understatement the last record that the treasury saw for borrowing was the quarter july through september 2008 the height of the
And getting back to business in the empire state as a slow reopening in new york today. It is friday, may 15 you are watching Worldwide Exchange here on cnbc good morning, good afternoon, good evening welcome wherever you are watching happy friday, we made it here is how money is setting up for the final day of the week. Dow futures up about 75 points we snap a threeday losing streak still the major averages are back late in the week. Dow is down 3 s p off 2. 5 even the snnasdaq is down 2 . Only amazon is higher this week. The russell 2000 has been the market story down 7 coming in today. Watch for a rebound. That index down 26 on the week. Also watching oil. Indicating demand increase coming off the highest close in six weeks. Up 11 and brent crude is back above 30 a barrel hardly a big number but at least it is not in Single Digits or even negative. Global markets in asia the Chinese Markets are down and rising in europe, more tough Economic News as money is contracting but not unexp
With comply. Ceo, elon musk tweet, we are continuing production today. If anyone arrested i ask that it only be me. Do i want elon musk arrested . Absolutely not. What i want is a situation with cooler heads prevail. Reporter may 18th was the date originally to open. To say excitant their modifications are being allocated i would thing that almedia county is the first to check in with. Reporter the came gathering support from secretary steve mnuchin. Reporter strict were guidelines at the plant have been put in place, including masks to be worn all at times, sanitation stations stations andplexy glass paratitians. Reporter partitions. Frank and julie. Tomorrow, Governor Newsom is expected to offer guidelines about how restaurants in california with reopen safely. Its how to protect Employee Health plus, rules on sanitation and disinfection. The director of San Franciscos golden gate regulation wants to see clear guidelines with specific regulations. Are there going to be masks on every
Shift toward ecommerce. I think for investors, for business in general thats really the question of this moment right now for those businesses that have had this shift to online and have been able to capitalize that, were going to have skzinga on later d theyve done well in engagement because of that shift, how much of that are they going to be able to retain and continue for the rest of the year how much can platforms like apples ios and app store, were getting wwdc coming up in a few weeks, what changes can they and developers make to retain more of that benefit and maybe see a continuing shift in behavior thats unclear, but a lot hangs on that, morgan. Thats so right, jon, and that shift online i think is everything and a big part of that is ecommerce its one of the reasons im keeping a close eye on the u. S. Postal service right now, which is set to report its Quarterly Earnings tomorrow. Last night the usps announcing its finally getting a new postmaster general, louis dejoy, had