Coverage. Blake burman with the latest from the white house, Lauren Simonetti is watching the markets and Edward Lawrence is in washington. Lets kick it off with edward. Reporter exactly. Chairman Jerome Powell, Federal Reserve keeping Interest Rates where they are foreseeable future. Federal reserve chairman Jerome Powell said the coronavirus had Significant Impact on Economic Activity, employment and inflation, further lowering expectations. The Federal Reserve chairman believes well see doubledigit unemployment when the next Unemployment Rate comes out. He backed off saying there would be a robust Third Quarter going farther, saying some uncertainty around when the crone cron treatment will be available is when in fact the economy will start to pick up again. But he would not say if the announcement after treatment or a vaccine changes anything that the fed is doing. Also Federal Reserve open Market Committee statement saying that the fed will keep rates where they are until they ar
Weaker as you have no agreement over finance chiefs on what to do over the crisis. Russia doesnt think a 2 million barrel a day cut is enough to get anyone to the table. In the bond market, 17 billion worth of supply coming online at about 1 00 today. It is time for todays market moving news from our london and new york offices. European Union Finance ministers now failing to reach a deal on a unified strategy combat the economic damage of the coronavirus. Germanys finance minister olaf scholz did give a press conference shortly after talks ended. I think it is absolutely clear that the recovery of great will be a very activity. We have to organize together. As anyone knows, i think it is absolute possible to do this within the framework we already have. Alix bloombergs Michael Mckee joins us now. I couldnt believe it, but i could believe it this morning when i woke up and saw they could not agree, and it was north and south. Michael it seems that way to a lot of people. Talk is cheap.
Good friday morning. Welcome to squawk alley. Im Carl Quintanilla with Morgan Brennan at post 9 of the new york stock exchange. Jon fortt has the day off. Weve cut our losses in half since the open, although oil is approaching below 42 know v now as the opec meeting continues. Well begin with the mornings markets, the dow falling again but well off the lows, down about 380 points. Mark mahane knjoins us live alo with mark just in the internet space, the fact that so many investors are trying to game out what the impact here of covid19 could actually be on the sector. How are you gauging, how are you assessing risk versus reward within your coverage okay. We had a pretty significant data point this week. We had the ceo or the cfo of Companies Like uber, lyft, and Google Alphabet all present at an Investor Conference this week i think what we heard from all of them is not yet a Material Impact lyft said they were seeing a small positive impact because people were leaving Public Transport
Successful launch, the apple card issued by Goldman Sachs hit some snags in 2019. First, our top story. Tech continues to be the outperformer in 2019 with the nasdaq on track for its best year since 2013. The tech index is up 35 , just 3 shy of 2013s banner year. It is largely due to apple and the chipmakers. Joining us is abigail doolittle. I am showing on my terminal a chart about divergence, winners and losers. What is your take away from the divergence . Abigail the clear winners, apple and facebook. Apple up 85 , facebook up 55 . The others up closer to 20 or 30 . Still great gains. And the complex is overall higher. 2019 really the year of record highs. The complex overall, the last record high overall back in july but those two Companies Really pulling away with the lead, apple and facebook. Apple putting in record high after record high. And behind that buying power, you have to think it had something to do with 2018. Because between october and december 2018, apple fell about
Good Tuesday Morning welcome to squawk alley. You saw a live shot of north korea last hour, not south korea. We know the difference it is important to know the difference now a new year in hong kong, beijing, and taiwan. Heres a live shot of celebrations in hong kong. Theyre having a light show. No explosions in hong kong the last trading day of the month, the year, and the decade. I am jon fortt with me at post nine, again, Morgan Brennan and deirdre bosa. Carl has the rest of the decade, carl, take it off. If youre going to have a light show, hong kong is the place to do it with all of the buildings. Yes well begin with whats been a record year for tech it is on pace for the best year in a decade with the nasdaq crossing the 9,000 mark earlier. Household names like netflix led the charge, up more than 4,000 in the last ten years. What stocks are poised to make their own run in 2020 . Joining us now with some answers or some guesses, gene munster of luke ventures, john freeman of cfra