Industrial average is up more than 760 points. Steve weiss, i go to you first is this how a bottom, at least a near term bottom, is made . Does it feel like we are trying to do that today right friday we started trying to do it, towards the last hour of trading powell came out and talked i dont think there is any surprise to what he said i put some exposure on then. Put more on this morning feeling good about the market. But i think it is going to be shortterm heres why the u. S. , as of friday, performed 500 covid19 tests right . Putting that in perspective, the uk performed 8,000, south korea performed 65,000 the point is that once we start ramping up those tests and pence said we would have 5,000, you are going to see in my view more major outbreak in the u. S. You think the numbers are going to go way up. Dramatic and that will put pressure on the market last week alone i spoke to five Tech Companies you hear them saying 50, 60 are back to work when you ask them to break down the n
The biggest global coordinated effort since 2018 to save the Global Economy from the coronavirus. Were seeing it react pretty dramatically in the Commodity Prices right now. Look at the dow, were back up 766 points. Crude is up over 5 . Gold got smashed last week on margin calls, it is coming up 30 inhouse. That is pretty incredible run after a big blowout last week. The reason theyre buying gold, if all Central Banks start easing policy, gold might be a safe haven play t wasnt a safe haven play when we were worried about global recession but those odds seem to be going down as Global Central Bank starts to take action. Interestingly enough, last week commodities really got crushed. Grain prices, cattle prices, food prices across the globe, worried that people wouldnt have a lot of money to pie a lot of food. Those prices are coming back. Really a mood change from Opening Sunday night. We got more bad news from the coronavirus and more bad news thing is getting out of control, we open
Cut this month thanks. We are seeing a big bounce back. All angles are covered for you bob pisani, Rick Santelli in chicago seeing new lows on the ten year yield, meg has the latest on the coronavirus and Steve Liesman on whether the fed will come to the markets rescue here we begin with stocks and bob with the latest here kelly, were just off the highs. The question is, why theres two essential reasons. Number one, we have extreme oversold conditions. Well explain that in a minute and number two, we have hope for fiscal stimulus and coordinated monetary stimulus and theres indications those are coming together as well there you got your rally take a look when we say extreme oversold conditions. It shows you mouch much the market momentum is moouing below 30, thats oversold. You very rarely see this its screaming buy in a traditional way to look at the markets. Another extreme indicator, you have nyse, the volatility index. We were at 49. Thats almost four standard deviations away. We
Saying. We are getting headlines out of the iea. It depends on what is happening in the middle east given what has happened in iran and the last 15 days. The International Energy agency saying the oil supply is a vulnerable as middle east tensions flare up. Ieas always good to see the thinking. You can see the brent. Stocks are gaining 0. 4 . We are we have to see and i will show you later that we have a tight range when it comes to treasuries and dollar pound. Significant one because there is more bets that the bank of england will cut rates in january i believe january 30. Coming up, we hear from the chief executive of allianz. Something you do not want to miss. That is coming up a little bit later. Lets get to first word news. Viviana we begin here in the u. S. , the house of representatives sending two articles of impeachment. It is the first step to begin Donald Trumps trial almost certain to end in acquittal. Chief Justice John Roberts of the u. S. Supreme court will preside over
Call on ge why he says there could be more turbulence ahead its our call of the day and michael farr is unveiling his top ten stocks for 2020. Part of halftimes game plan to get you ready for the new decade Investment Committee is ready to go Halftime Report starts right now. Welcome good to have you with us on this friday our Investment Committee, jim, josh, steve weiss, jenna, the chief Investment Officer at boston private wealth. Michael farr is the ceo of farr, miller and washington. Also with us today onset, keith banks, the head and vice chairman of bank of Americas Solutions group. Stocks are hitting more highs. Could be the first eightday winning streak in more than ten months we have news happening at this moment on boeing our phil lebeau has it scott, this involves united airlines, which is one of three u. S. Carriers that flies the 737 max. It has announced that it will pull the 737 max from its schedule through june 4th, which means when you look at the u. S. Airlines and w