Coronavirus fearing weighs on the market, surpassing 100,000 worldwide. We are expecting a briefing from Vice President mike pence a bit hear this evening. Though that survey was conducted in the middle of february before the outbreak took hold in the u. S. In just a few moments well talk about russ cost rich he says the u. S. Consumer remains strong and where he is putting to work now. Dan, what are you doing . Not a whole heck of a lot week on week, there was a bit of optimism. As investors star thinking about how to allocate towards equities visibility will be the big point. I think i dont think were going to get that anytime soon right now. That was the low for this move you had a strong reversal off of that we set ourselves up for a powerful rally, but most of that snsht has dissipated, so some say you will have to retest the low, and were doing it right now on a relatively tenuous way, so i still think, given the stress in credit markets, stocks are not yet convincingly saying we
The Federal Reserve announcing another program that primary dealer Credit Facility this is one of the biggest programs the Federal Reserve has yet to do. It is call the kitchen sink of lending programs it provides shortterm, overnight, and term funding up to 90 days for a broad range of assets i can tell you the kinds of assets that now primary dealers can bring to the fed to get funding. Investment grade corporate debt, securities, commercial paper, municipal securities, mortgagebacked securities, assetbacked securities, even Equity Securities excludeing etf. Bring us your poor, tired, hungry, weak the fed is saying bring us your paper, well, obviously, give it a haircut but well also lend it overnight. So now the fed, implementing almost all, still a few left of the financial crisis era programs from the Great Recession that had in place today. It put in place the commercial paper facility and has really long Quantitative Easing Program and bringing rates down to zero. What is left i
And a thousand times a day without thinking about it. At least thats how it feels right now. The inevitability of this outbreak is starting to sink in. What does the fed do it gives us a rate cut a 50 basis point rate cut. Reaction hey, condition rate cut. And it was a resounding texas hud. Ultimately the dow fell 786 points and 2. 189 so why did we get that illnesses, cancellations and this epidemic and im beginning to feel just in what has just been cancelled the emails that i get and the notes from Different Companies that is a shutdown it doesnt change that its not a cure. Its not a hazmat suit or respirator it does absolutely nothing to impact the spread of the virus it somehow boosts Business Confidence i did care about the rate cut. I cared about how wrong it was its totally a sign of the panic from the fed. And a rate cut i say this as someone thats been addiment that easy money is a good thing im probably the biggest single proponent of lower Interest Rates on the entire spect
Good morning welcome. Im Morgan Brennan live at cnbc headquarters kicking off with historic moves on wall street as the dow moves towards 20,000 the First Time Since february 2017 the dow has now erased all of its gains since President Trumps inauguration back in 2017 this mornings futures it has been volatile, we started higher, turned lower weve gone flat. Right now, the dow is indicated to up 194 points, the nasdaq to open up 143 points it has been a wild ride. Futures spikes on the news of the stimulus from the ecb. Weve been bouncing around ahead of that 9 30 open. Taking a look at the bond market weve seen a lot of volatility there. Treasuries yesterday sold off with significant spike climbing as high as 1. 25 . Now coming off as investors move back to treasuries with a 10year at 1. 177 . Just off threeyear highs. I want to get a check on crude bouncing back in a big way after sinking to its lowest level in 18 years 20. 37 a barrel ice brent 26. 91, an 8 bounce. We are still at t
Cooperman taking on trump over the Federal Reserve in times of crisis Worldwide Exchange begins right now. Good morning and welcome to the show im dominic chu. Announcer to Brian Sullivan. With me the entire hour, peter bookfar wiright now stock futur indicate what could be a nice open to the upside, about 175 points within the last hour we were up 400 to 500 points implied. Well see if that moves. The Dow Jones Futures have been going from losses all the way to gains. At one point we had a range of 1100 its been a volatile, possibly preshadowing the market. Tenyear government yields we gone down to 1. 0 3 year, setting the record twoyear treasury notes, 1. 2 . The session low for americanbased crude is 43. You can see 45. 53 the last trade there. We have seen a bit of a downside move in the last hour or two lets watch whats happening a rebound in under way, in asia and europe as well as investors hope for action from global Central Banks around the coronavirus. Matt taylor is in singa