Businesses stay afloat until we get a vaccine . The market doesnt remember, which is why it got crushed today. Dow plummeting down. The s p plunging 1. 16 and the nasdaq sinking 1. 3 , nice comeback there forget another bailout there is another possibility of a Government Shutdown next month. Stocks have been getting hammered for sometime now as i listened to the talking heads today, i was kind of autohear them suddenly recognize that the big tech names act terrible. Like wow, holy cow these are down a lot we better sell i mean, of course they were also acting terribly last week and the week before so a bounce could potentially be in the offering one held by the amazing rebound in apple which at its lows today was down 25 from highs earlier this month. Apple led the nasdaq 100 from morning oblivion drenched in red to bright green in a strong rally that nobody is taking seriously except for me. Before i get into where were headed, you need to understand why this moment is perilous for s
Im back. Great to be back. Back in the stacks with the books. Yes, yeah the Library Stacks are nice i wanted to show everybody where things are headed on this monday morning. Is it always up . I guess maybe it opens it feels like that i was told not to invoke his name when i mentioned him the other week he says everything goes up and it all seemed so crazy dow about 160 points nasdaq looking to open about 69 points higher in the s p 500 looking to open about 16 points higher treasury yields right now, lets do it. Lets show you the ten year note as we speak youre looking right now at the ten year at. 636. Melissa has news happening overnight. News out of china overnight beijing announcing sanctions and a spokesperson and the move comes after a top member of chinas Ruling Communist Party and three other officials over human rights a b abuses. Bo well ask senator rubio about this when he joins us live at 8 00 a. M. Eastern time on squawk box. Separately the u. S. Asked its citizens to be
Meteorologist kari hall with a look at the forecast today. Kari . And its going to be a cooler day for many of our micro climates as we check out san jose and our trend today. Well be in the mid50s to start. A lot of clouds. Although we wont see a lot of rain coming out of these clouds, we will see the sun just peeking out every now and then. We are still seeing a storm system very close to the region, and thats going to keep it a little soggy in some spots like the north bay. Ill be tracking where we can see rain and what else is ahead coming up in the forecast. Laura . Sounds good, thank you very much. For the First Time Since march Contra Costa County reported no new coronavirus cases. Santa clara county, the hot zone, just two new cases and no deaths. Statewide view all the counties seen here in white also reported no new deaths that includes Santa Cruz County which is just, of course, outside of the bay area. And this morning some bay Area Business owners have their hopes up since
If you say things are okay, not as great, and youre an industrial, because there will be an opening of america, people will buy you if you say things are in line and you pull your forecast and youre not industrial, its a recipe to be sold. This is about hope its about the idea that it cant be as bad as it is right now. Youll see that even with marginal retailers, people think a marginal retail hear to come back because america is open listen, you have to go with the flow for a couple days if youre a trader if youre an investor you have to take the other side of this trade as we get closer to the opening. I think people will be surprised how little these businesses will do and how worse theyll do once we go open its not it is an opening other than auto builds wont occur. We have to be ready for that your general thinking is well get a ford plant reopening, vw doing it, boeing in South Carolina next week, but its going to be a manufacturing bounce yes more than a service bounce . Yes man
Above 24,000 keeping an eye on whats happening with this. The dow has been up. The First Time Since february. If the dow is up again for the fifth session, the first time that has happened since the middle of january. Crude oil has been a big concern. That is down 11. 5 to 11. 85 you are looking at energy being the best performing for april even despite these big swings we have other energy news back with bp out the energy giant reported a 67 slide. Ceo Bernard Looney that the company had a good quarter tough environment here to date it has just been historic and went negative for a while. Back to 12. Crazy. Which is relative how many acres do you have there. You could store oil. Could you put a tank in the ground or just fill the pool we could probably do both we could do a whole oil field here no one Takes Delivery you would think given the challenges that uber is having, they would be doing oil delivery the other thing i told you to buy with all that land is live cattle instead, we