Continue to gradually reopen, auto plants are restarting some operations this morning and Homebuilder Confidence increasing as well ahead on todays show, President Trump host iing a rou b table with restaurant executives at t the white house this afternoon well speak with the ceo of restaurant brand, the Parent Company of burger king and pop eyes. Plus, billionaire entrepreneur and Restaurant Owner will join us to discuss whether people will actually come back to restaurants, casinos an sporting events hes got all three of those covered. Hooe also at that white house meeting. Lets focus in on the big stori were watching mike is tracking the big market rally. Meg has the latest on modernas vaccine progress Brian Sullivan watching the comeback for crude well tart off with the broaderr rally, mike, and what stands out to you obviously the market for months has been moving along this spectrum that goes from you know sooner and faster for a recovery to you know later and slower and right no
And oil is up to the tune of 25 . The jobless claims rocked the street. We were expecting them to be bad. We were not expecting them to be 6. 6 million bad. Jackie deangelis, jackie. Reporter good afternoon to you, neil. Lets go ahead to start with the tweet from the president that had the dow jones up more than 300 points now. The president said, i spoke to my friend, mbs, crown prince of saudi arabia who spoke with president putin of russia and i expect and hope they will be cutting back approximately 10 Million Barrels and maybe substantially more, which if it happens will be great for the oil and gas industry. The markets are rallying on this, because low oil prices are good for consumers and businesses that use oil. Statement, you dont want the price to be so low that the shale producers go out of business. That the Oil Producers have a hard time, staying, conducting, keeping things going. So prices spiking today, more than 20 is a positive sign that it is all moving in the right
Now projecting anywhere from 100,000 to 240,000 total deaths in the u. S big investors are weighing in. Rosengren says the feed needs to adapt as the crisis proceeds and he expects the Unemployment Rate to rise dramatically weve got a big guest lineup coming for you in just a couple minutes, talking to james gorman from Morgan Stanley. Hell talk about the market volatility and how the banks have fared so far in this crisis lets focus in on the big stories we are watching at this hour, the final hour of trade. Mike santoli watching the market plunge meg tirrell has new details on the state of Virus Testing in america, so important. Micah, first to you on this market were seeing a pretty steep selloff here. A pretty steep selloff sad to say not that unusual after you get one of these crashlike moves, then a rebound. I think a lot of folks were hand capping this to be an area where it would stall out this may be a little more than a stall. Well have to see. This is a twoyear chart we were
Breaking news. U. S. Stock market futures are limit down even as the Federal Reserve slashed rates to stave off recession in the face of a global coronavirus threat. Life in america changing rapidly as governments at every level take drastic and unprecedented steps to try to slow the spread of the pandemic. Major retailers including nike and apple, shutting their doors for weeks. Well talk about the fallout for the u. S. Economy it is monday, march 16, 2020 squawk box begins right now. Good morning im becky quick at cnbc headquarters joe kernen and Andrew Ross Sorkin u. S. Equity futures hitting limit down after dropping 5 that means they cant trade any lower this morning those are the curbs set up by the exchanges. You will continue to watch whats happening with the etfs, however, because they are not held to the same restrictions. Can you see the dow etf is down by 9 . The s p etf down by almost 9 . That gives you a better idea of where the major averages would open if we were open h
Quarter. The Second Quarter is probably going to be weak. In fact, in the view of many, output declining output lower in the Second Quarter than in the First Quarter. After that, its very hard to say how big the effects will be or how long they will last thats going to depend, of course, on how widely the virus spreads, which is something that is highly uncertain and i would say in fact unknowable jim, so its just you and me today. Lets start broad. Get your thoughts on the last 72 hours. What are you thinking right now . I think that the one thing i was very worried about in the 2007 and the 2009 issue, could i take out 50,000 from Jpmorgan Bank because i was concerned. And i took it out. I took money out of a lot of Different Bank accounts. This time im not. What was the purpose of last night . Theres a lot of things. The purpose of last night was to make sure you didnt take money out of the bank because you didnt trust the system. You dont have to bury it. That was important now the