Thinnest of reeds which is why the averages were able to war today. The dow which gained 470 points, s p advancing 2. 28 . Its hard to find a positive button house of pleasure the nasdaq gaining 1. 72 . All right, what happened okay, this morning President Trump told us hes brokering a deal between russia and saudi arabia so theyll stop flooding the world with oil that will help the price of crude to rebound back to the 20s and trigger a short rally in the stock market. One that couldnt be taken down by the shroud of gloom even as the shroud kept trying to take it down. Intermittently until being ripped from the markets rarely bullish face buy, buy, buy yep, we live in a bizarre world where wall street can momentarily overlook the fact that 6. 6 million americans filed for Unemployment Insurance last week a mindblowingly horrible record breaking number. Instead, we briefly able to accentuate the positive. It might not collapse, saving billions of bad loans and preserving Energy Indepen
I think everyone would agree, tgif, not from the dows perspective. All in all, we were up 13 on the dow, and the best week since 1938 and that is cold comfort given what weve seen and we are down thousands of points from our high just one month ago and the dow losing 115 points today. The benchmark tenyear treasury note ended kind of where it began at 0. 7 . When you throw a couple trillion dollars like the fed is at the bond market maybe you will see a move, maybe not, and continues to fall, and it is moving around after hours. Oil stocks falling across the board as well today. The average oil stock in the United States is now down 50 this year and theres a lot more that are down each more than that welcome. Options action will be on at 5 30 as well and our group has been resilient, and that is guy adami, tim seymour, and we are proud to welcome victoria fernandez who is in houston. We will get to all of the traders in just a moment, but we have breaking news on General Motors really
Performance of all time. We are looking at limit up with dow futures and the etf slightly more than that looking at the treasury market the yields have been all over the place. Weve watched the 10year go from. 4 to 0. 85 . Andrew a huge lineup for you this morning, in about 30 minutes, new data from the china books about how ugly the hit to the First Quarter may be at 7 15, well talk to the ceo of lab corp about the ramp up for testing. At 7 30, well talk about the hit to our economy with Starwood Capital. Last time he was on, he was bullish in the face of the bears. And at 8 00 a. M. , the ceo of boeing, dave calhoun so many questions for him. At 8 30, joining a growing chore yus of voices. Global cases have topped 38,000 including 300,000 in the United States. New york city with the biggest hotspot. 13,000 confirmed cases in the city new york state accounts for half of the confirmed cases in the United States. China says the lockdown in wuhan will end on april 8. Cnbc is bringing you
World. That would be wonderful. And lets keep it shut for a couple of years. We cant do that. We cant have the cure be worse than the problem. A vote to advance a massive stimulus package failed again in a party line process. If you dont support the Public Health workers, theres no amount of stimulus. 2 trillion, 3 trillion, 4 trillion that will solve your problem. Prime minister Boris Johnson put the uk on lockdown and gave Police Special powers to arrest and fine people still ignoring advice to keep physical distance. If you dont follow the rules, the police will have the powers to enforce them. The 2020 olympics will likely be postponed. Several countries are saying they will not send teams. This was absolutely the right call. And everyone should follow their lead. The Federal Reserve has unleashed the big bazooka launching an unlimited Asset Purchase Program to mitigate the coronavirus impact. The governor of new york, andrew cuomo, my brother, thank you for coming back to the show
Of an allout trade war. The feds hone in on capitol hill amazon under fire for laying off the organizer of the walkout in new york city. He was a guest on this show yesterday morning. It is tuesday, march 31, 2020. You are watching cnbc. Good morning and welcome im dominic chu. Your mystery chart of the day, of the quarter the one dow stock set to actually end this First Quarter in positive territory in the green. Well reveal that one name to watch coming up. First, we begin with a wild three months of the markets on this final day of the trading ahead of the open. Take a look at the dow you can see here year to date down 22 on track since the First Quarter when it fell 25 down more than 18 on track for its First Quarter since 2008 when it fell 22 so the s p taking the cake as well. Crude is down more than 60 on pace for the worst month and quarterly performance ever higher today on russia news there that they will work to steady the markets. Stock futures coming looking to add to the