Speaking out on social justice what amazon and facebook are doing this morning stay ahead of the conversation youre watching Worldwide Exchange right here on cnbc. Good afternoon, and welcome from where ever in the world you may be watching. Could be another very, busy week in the markets and otherwise the big question today really for the markets is whether this incredible rebound rally will roll on. Futures right now are showing that it might. A price like that its the first record closing high since february 12th really number one optimism that the American Economy will recover faster than expected with data point ceos and all coming back quick. And trillions of dollars around and finally the old t trade, there is no alternative as bonds lose their luster. And bonds in the last few questions absolutely dumped. Investors selling treasuries and buying equities and of course moves inverse to price rose 40 last week from bonds from yields this weeks fed meeting will also be huge if ther
Steepening and broadening and a lot more this is one of those rallies that not only is taking people by surprise, but continues to roll and were seeing major gap ups i was mentioning on squawk major gap ups in the morning more of the 1980s action and its very interesting because stan talked about his views of the 1980s and theyre pertinent as ever. We have incredible and we have a president who wants new highs and we have stocks that are recovering well ahead of the fundamentals but some people can say that is what should happen look at the airlines we are hhad some numbers from pl lebeau and almost as if people decided covid is over and its a vshape rally and you better get on board and that makes you a little uncomfortable. Well, i just think that the friday rallies, as sweet as it was off the unemployment number has not put out any sellers, carl and i often think that there have to be sellers at a certain level. I mean, can you really take the banks up so much when there was so much
The nasdaq by 173. There are reports of a new vaccine in the works word of anything setting back the virus is great news. Over the long weekend, people were out summer is around the corner. People are starting to feel that and that is showing up in the market again some big gains the last week of may treasury gains pushing up. 10year up 0. 7 . Right now sitting at 0. 695 . The big news is whats coming from that Biotech Company weve been talking more about. Absolutely. Hope everybody had a great weekend. U. S. Biotech company novavax said it started the first human study. The initial results they are saying in july the marylandbased firm saying upon completion of phase one, phase two will be conducted in several countries include ug the United States. That stock up more than 20 premarket but really giving rise to markets across the board as well as to what becky was saying all of the folk fols out and ab this weekend giving some optimism at least for a period well see. Maybe there is so
And russia seeing sharp rises in their cases brazil topped 127000. 00 and factions leading to an even gloomier outlook for the 2nd largest economy in the western hemisphere this as analysts Capital Economics have predicted at least a 10 percent decline in the nations quarterly growth this due to the outbreak while russia still seeing a surge in cases with most of its capital and largest city moscow the virus lock down combined with the global drop in oil prices well theyve contracted russian economy activity by one 3rd according to the countrys federal tax service chief meanwhile the us still the epicenter of the global disease with more than 1600000 cases the us unemployment numbers are still growing last week another 3300000 people filed for jobless claims bringing the 7 week total to 33500000 this while President Trump has renewed his calls for the Supreme Court to strike down the countrys Affordable Care act also known as obamacare this is a move criticized even by his own general
Hemisphere this as analysts Capital Economics have predicted at least a 10 percent decline in the nations quarterly growth this due to the outbreak while russia still seeing a surge in cases with most of its capital and largest city moscow the virus lock down combined with the global drop in oil prices well theyve contracted russian economy activity by one 3rd according to the countrys federal tax service chief meanwhile the u. S. Still the global epicenter of the disease the u. S. Unemployment numbers are still growing the last week another 3200000 people filed for jobless claims bringing the 7 week total to 33500000 this while President Trump has renewed his calls for the Supreme Court to strike down the countrys Affordable Care act also known as obamacare this is a move criticized even by his own general attorney or attorney general rather according to sources. Obamacare is a disaster but we run it very well were going to replace obamacare with Great Health Care at a lesser price an