Im becky quick along with joe kerr de kernen and Andrew Ross Sorkin. After two days of optimism, the get out there again trade was on turned around a little bit yesterday. We did see people rushing back to the stayathome stocks as covid cases and momentization hs continue to climb. And some states are imposing restrictions and the nasdaq ended up 2 after being down monday and tuesday. Yesterday the dow ended flat, right now indicated down by about 115. Never made to the record, still waiting circumstanling around tt s p 500 down by 2. 5 and nasdaq indicated up another 51 points this morning these were the stay at home stocks, amazon up, apple up 3 , zoom which had gotten hammered, yesterday up by almost 10 took c docusign 5. 2 and netflix 2. 2 and treasury yields, yesterday it was closed for veterans day this morning it is open and you can see the ten year still around the very heightened levels, again, not historically, but based on what weve seen in recent history within range of 1 a
Above 24,000 keeping an eye on whats happening with this. The dow has been up. The First Time Since february. If the dow is up again for the fifth session, the first time that has happened since the middle of january. Crude oil has been a big concern. That is down 11. 5 to 11. 85 you are looking at energy being the best performing for april even despite these big swings we have other energy news back with bp out the energy giant reported a 67 slide. Ceo Bernard Looney that the company had a good quarter tough environment here to date it has just been historic and went negative for a while. Back to 12. Crazy. Which is relative how many acres do you have there. You could store oil. Could you put a tank in the ground or just fill the pool we could probably do both we could do a whole oil field here no one Takes Delivery you would think given the challenges that uber is having, they would be doing oil delivery the other thing i told you to buy with all that land is live cattle instead, we
Time to lessen the economic pain, which we are clearly suffering. Meanwhile, fox news has blown the lid off the china virus story. Reliable sources suggest the virus began at a virology lab in wuhan, china. Patient zero, the first person to get it, was a lab worker who went out into the city and spread the virus from there. Now, the chinese authorities covered it up. They delayed action. They altered data and suppressed doctors and journalists who reported the truth. The story is an indictment of china and the communist authorities. It will dramatically change the u. S. china relationship. Heres how the markets reacting to all of this. We got bad news on manufacturing in the philadelphia and new york area. We got a sharp drop in Housing Starts. And weve got those dreadful jobless numbers. But the dow is going to open on the upside, maybe up 90 points. Thats almost a half percentage point. Same story for the nasdaq and also, look at the nasdaq, actually, thats going to be up more than 1
Street. Investors were encouraged by the white house announcemen that it would delay planned tariffs on some chinese goods. The decisiond hopes that the trade talks between the two economic superpowersould be revived. As one strategist said, the stock market reactions more proof that the trade war has been hanging over this market, and at least for today that liftewas the Dow Jones Industrial average rose 372 points to 26,279, pretty much wiping out yesterdays lossq. The nasas up 152 and the s p 500 added 42. Kayla tausche has the details on todays cooling of tensions. Reporter after days of no news and increasing investor worry on the trade front, tensions thawed with a phone call between u. S. And chinese negotiating principles, which china state tv came at washingtons invitation. Both treasury and usdr declined to comment on whether in negotiations were confirmed, but the two sides are expected to speak by phone again in two weeks justefore a september 1st tariff deadline. In the me
And after yesterdays selloff where we saw bond market selloff and the yields higher and the pressure on the tech stocks, we have a reverse. Some of the big tech heavyweight on doing a lefty doing the lifting on the day. The adp number showing that there is softening in the labor market and maybe the Federal Reserve and maybe the Federal Reserve isnt going to have to go so hard so fast. We are seeing big going flat on the day as the dollar comes down from what has been a rapid run up. Lets look at the individual players. We have seen tesla, the outperformer of the toys on the day. We are seeing palantir higher. It is getting close to clinching that important deal with the u. K. With the nhs. Zoom on the downside, one of the worst performers. It has been announced, some new products and analysts were critically overwhelmed when they try to compete with the microsoft. Lets go back to the crypto story. A jury has been selected, opening arguments are said to start today for sam brickman fre