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
Post nine of the New York Stock Exchange Morgan Brennan has the morning off. Dow session low was about 150. Well start with this rally in tech leading the s p to record closes yesterday these regulatory headlines out of d. C. Not slowing down the momentum out of the valley evaluation partners, early facebook investor, Roger Mcnamee is with us to talk about facebooks print they cant lose. No. What would it take to slow these guys down . To be clear, i think from an investor point of view, theyre delivering exactly what investors want and as long as that goes on, the stock is going to be fine to me, the question is the policy one that all of us as citizens that our government has to ask, which is, should there be some limit on what businesses can do when the actions of that business affect public health, democracy, privacy, and competition. And, you know, were wrestling with that right now and the governments getting its gears moving, but it goes slowly and until i guess its going to nee
Acknowledging that the American People are better off than we were seven years ago. Even he understands we made important progress. Connell the Senate Majority leader is here, Mitch Mcconnell is here to talk about his book called the long game. Should have a nice long talk about that. Interesting to hear the white house 8 you as almost a source. Dont know where they got that. I have been saying the opposite. The middleclass is shrinking, the worst recovery after a deep recession since world war ii. The number of people on food stamps is at a record level. The Labor Participation rate is where it was under the carter administration. I dont recall saying anything optimistic. Connell maybe we are better than we were at the depth of the recession. It was convenient for the white house. Another way of looking at it is how does this compare to other deep recessions . The worst recovery after a deep recession, the pattern frequently always has been the deeper the recession the quicker the dow
Backtoback gains if we continue to trade higher and close positive in the next hour. Theres the tenyear treasury note yield, at about 4 or so right now. I mention it because that is obviously one of the big drivers of stocks right now, those higher yields standing in the way of an equity rally, and certainly dampening some enthusiasm just looking at the tenyear, a little bit weaker. Really not moving a whole lot. Check out some of todays moving earners. Goldman sachs is higher on a beat Lockheed Martin soaring up Johnson Johnson beating on the top and bottom lines hasbro is pulling back after the bell well get netflix and well be joined with a preview in just a bit. Lets begin with the activist news that david faber broke today. Salesforce shares are up 4 . David faber joins us with the latest im interested in the colgate news you brought but activism heating up. We can start with salesforce we did report that this morning. It was followed by a presentation by jeff smith at an annual c
Use of methamphetamine and cocaine among those also using fentanyl reached a record high in 2023, a new report showed, more evidence of a "fourth wave" in the opioid epidemic.