Brent also lowered to about 2. 3 . With treasuries. Havens like the dollar, the yen. We saw where the nerves are with dollar renminbi. Seeing the hikes inching closer for dollaritory china right now. 6. 4 ,ing a contraction of so we could be seeing a deeper contraction. Financialrom the secretary paul chan saying we could be facing the worst contraction on record. The rupiah seeing some strength here. The carry trade has been coming back. 14,000, 935 around 14,935. The trump ministration is stepping up its attack on china, saying that there is enormous evidence that the coronaVirus Outbreak emerged from a lab in wuhan and china covered it up. Secretary of state mike pao stopped short mike pompeo stopped short of saying the virus was manmade. While the Intelligence Committee continues to do its work, they should continue to verify so that we are certain. I can tell you that there is a significant amount of evidence that this came from that laboratory in wuhan. Business confidence in the
Expectations for users and ad revenue. A drug also showing some positive results that may have been getting investors some optimism. To facebook, tesla and microsoft in a moment. Lets bring in taylor riggs to wrap up the day that was. Information showing that gdp pal gdp fell 5 . Maybeas thinking that things were not as bad as we think and that there was a sign that things could stabilize if not improve. You could say that was going on in the markets all day long. We got that data of a 4. 8 percent drop in gdp. Markets were already shrugging it off. Looking ahead to that news that we got from gilead. Tech is doing the best stuff. 3. 6 today. Those smallcap stocks are also some of the biggest out performers as we talk about how to reopen the economy. Gilead sciences was the driver behind all of this. They were up 5. 5 . Helpedxperiment drug coronavirus patients recover more quickly. Some 11 days instead of 14 or 15 days that was initially expected. Dr. Fauci came out and said this was a
Fractional moves overnight in asia. And now the latest on the coronavirus this morning. 1 Million People have now become infected. The United States is representing nearly a quarter of the world cases and the cdc is expected to advice all of americans now to wear cloth masks in public to stop the spread of the virus. Vice president mike pence saying that the new guidelines are coming in the next few days, this on top of social distancing rules. The Coronavirus Task force keeping close eye on louisiana, michigan, indiana, georgia and illinois as next potential coronavirus hot spot. In louisiana 26 of all tests are coming back positive. Connecticut being watched closely this morning. Covid19 fears growing abroad stranded crew ship. Princess cruise ship headed to florida today with several infected passengers, comes as a crew member dies on the celebrity infinity ship sitting off the coast of st. Petersburg this morning. Cruises finally dock at port everglades. Passengers will remain on b
They are warning the us economy could shrink a 14 in the Second Quarter. Thats coming as the Federal Reserve and global Central Banks across the world announce measures to offset the injured Economic Impact of coronavirus. Join me right now to talk about all of that hank smith. Hanks thanks much for weighing in today we appreciate you joining us, what are you doing in your portfolio in the face of all this . Well, first of all, we are not panicking. We constantly communicate with our clients regarding their asset allocation, we also, for a number of years have always recommend to have enough cash to meet spending needs one year even up to two years out. So, in an environment where you own both stocks and bonds, now is the time to start looking to your adding to your equity positions because that allocation has come down due to the obviously to this bear market. It is a pain trade for sure, but over the past six years, the opposite was equally true where we were trimming equities becaus
They are warning the us economy could shrink a 14 in the Second Quarter. Thats coming as the Federal Reserve and global Central Banks across the world announce measures to offset the injured Economic Impact of coronavirus. Join me right now to talk about all of that hank smith. Hanks thanks much for weighing in today we appreciate you joining us, what are you doing in your portfolio in the face of all this . Well, first of all, we are not panicking. We constantly communicate with our clients regarding their asset allocation, we also, for a number of years have always recommend to have enough cash to meet spending needs one year even up to two years out. So, in an environment where you own both stocks and bonds, now is the time to start looking to your adding to your equity positions because that allocation has come down due to the obviously to this bear market. It is a pain trade for sure, but over the past six years, the opposite was equally true where we were trimming equities becaus