The charts are thrown haywire by the fact to close negative yesterday. Trading about 5 today june is at 12. July below 21. All sunk considerably just this week lets get more on the interplay of oil, stocks and the earnings. Gets get 0 ever to bob pisani for that this hour hi, bob. Well, you know, that collapse in oil is weighing on things but not quite as much as you might think. It is a little bit more of a general risk off day in terms of coronavirus. Lets show you what the sectors are doing right now. Sitting near the lows for the day essentially. S p 500 down between 70, 80 points throughout the day here senior citiz sectors, technology and financial stocks that are down, thats going to drag Everything Else down. Industrials not doing so well. Energy is down but not muches the rest of the over sectors and thats interesting to see there. Momentum stocks, stocks done well recently, theyre kind of weak today and advance micro has done great recently. Microsoft is getting killed today.
Im hopeful we will very much try to learn as much as possible from that facility and from all the other ones. We have a lot to learn here. We will certainly be trying to do that. In terms of fiscal concerns, for many years, i have been before the fed, i have long time been an advocate for the need for the United States to return to a sustainable path from a fiscal perspective at the federal level. We have not been on such a path for some time which just means the debt is growing faster than the economy. This is not the time to act liz well, you know what, it was going along really, really well and it was making history. That was of course chairman Jerome Powell of the Federal Reserve. This is the very first time we have ever had i guess its considered a zoom Federal Reserve meeting and reporters, of course, were standing by. You saw the chiclet screen there. Here we are. We got it back. Lets dip right back in. But to let that get in the way of us winning this battle really. Edward lawr
Its not difficult to be crabby when you are basically living hand to mouth with government stimulus. I thought that encompassed the markets perfectly for a day like today. A lot of earnings coming out. Delta looking at a 50 cut in daily cash burn by the end of june. In terms of their First Quarter loss, they had about a . 51 loss , and revenue was down 18 year on year. As we expected, pretty brutal when it comes to delta. Baker hughes, oil services company, saying the outlook for oil and gas is certain. No kidding. The revenue down by about 4 year on year. 0. 11, acoming in at little bit light. Lets get you some of the headlines here. All of todays market moving news from new york, as will is washington. Brent crude getting sucked into the lowest level since 1999. Bloombergs part two thought to be role bloomberg spoke to thought he be role spoke to fatih birol. Some of the countries are cutting their production earlier than announced. Others joined them. If others do not follow the ste
[chanting] it is 8 a. M. Hour of fox Friends Weekends starting with this. Ivy league unrest more antiisrael protest taking place on elite campuses. Pete poison ivy thats about right. Plus the besties are back. Some things just go together. Like me and joe. Ice cream on a hot summer day. A Winning Campaign so much. Joe biden calling in obama to help with small donors in a what the kids would say is a cringey digital ad. From a turtle to a whole smoked pork belly google reveals wildest stuff left in drivers cars. Third hour of fox Friends Weekend starts right now thank you for having me im filling in. Oh look were looking the a skiesline. Pete what phoenix. Austin. Definitely not phoenix. That capitol too low. I think thats frost bank and then im going to go fort worth. San antonio. Will cain thats not good for you. I said phoenix and im from phoenix so i dont know what that says about me either. Skyline. You dont know san antonio skyline at all . Throw that back up there for a second. L
In freezing in valley locations to 40s around the bay. Santa rosa has dropped below freezing. 31 of five your door and fog at the airport. Not this airport, sfo, but in santa rosa. On the valley floor we are seeing patchy fog. San francisco, 48. Oakland, 40. Livermore, 35 and san jose, 44. You can see San Francisco sfo looks good as far as visibility is concerned. Its been fluctuating in the east bay. About a mile and three quarters. That darker shade of gray is for the to the north. We have seen this develop from the airports and down through petaluma. You may come across some fog and he could be dense. Here are the afternoon highs for today. San francisco in the low 60s. In her east bay, low 60s. Another spare the air day. We have the air quality check coming up and the extended forecast through the holiday weekend. Were getting new numbers on drunk driving arrests over the holidays. There were more than 790 people arrested for dui during the holiday weekend. One of those arrested is