The economy, pretty much at a dead stop until may, maybe longer. The market is looking to the other side of the virus problem and surely welcomes more financial help. However, stocks are ending the worst month since 2008 and the dow will open lower this morning, off maybe 140 points. Similar story for the s p and for the nasdaq. A down opening bell today. The price of oil, well, that remains at depression levels. This morning we are in the low 20 per barrel and the average price of gasoline, you got to look at this, the National Average gas price has dropped below 2 a gallon. 1. 99, thats your number this morning. The price is dropping about two cents a day but so what . Demand has cratered, the roads are empty, and few people are taking advantage of dirtcheap gas. Now, this caused a stir yesterday. The u. S. Navy hospital ship arrived in new york and was greeted by crowds of onlookers. They were breaking social distancing rules. Those people who were holed up in their apartments and h
Happening. I will focus on the u. K. The real story coming in, the markets along with Boris Johnson starting to look at may be no deal brexit. As a result we have the fish found against the u. S. Dollar, we will we have the british pound against the u. S. Dollar. A big move there. That is one of the factors outting the ftse 100, it is forming the rest of europe but it is but there are other factors. M a is one of them. Deal buying a business sold to blackstone and now being bought by the london Stock Exchange. That will put a whole different class when it comes to financial assets. Its trading up there are other deals as well. A big week for the Global Economy with rates decisions from the boj, Federal Reserve and bank of england as well as Economic Data from the u. S. , germany and china. Lets get to someone who can help us size up investor sentiment. He comes to us from boston. Lets begin with the Federal Reserve, do we see basis points decrease and is it warranted . It is the wood v
Immigration and you will see that, too. Varney company is about to begin. You know, watch out, the way it opens is not necessarily the way it closes. What happens in dow, nasdaq and s p futures is not directly to the equity equities. Theres too much damage shortterm to really have it correct itself just in a few days or a few weeks. Its probably going to take months. In the last half hour of trade, things start to change and move so you cant really judge from this pathetic, according to stuart, 362 point gain. Stuart disappointing. Disappointing. Stuart i didnt say pathetic, i said disappointing and i think ive got it right. And that was yesterday, what a rotten day. Look at it today. Dow futures point to a 350 point rally at the opening bell. Now well bring you big names poised to open and how those big names are going to open. Look at netflix, up about 3 , 29 minutes from now. Apple also up about 3 , 29 minutes from now, but still only at 106 for apple. The high was in the 130s. Wher
We make the weather a top story, but that heatwave in the southwest is something else. Granted, it gets hot in the desert, but today, it will hit 120 degrees, it says 115. Weve seen some forecasts of 120 in phoenix. How about that . Look at this, more video from disney. A disaster waiting to happen. Gators, oh, so close to a very popular ride, splash mountain. Varney company, were about to begin. Trying to stay with curry, one dribble step back, puts up a three, wont go, and rebound, final seconds, its over its over . Stuart and its indeed over. The cavaliers are nba champions . Stuart as i was saying, that was the Cleveland Cavs celebrating their first title in franchise history. Kyrie irving hit the game winner with minutes left in the game. Lebron james mvp, the third time in his career. The prodigal son returned to cleveland to give his city a championship. Grown men cry tears of joy after the game. But look at this, oh, fans in cleveland got out of control, riots erupted with fans
After netflix result yesterday, tech was a leader on a downside. Materials and energy continue to rally. Abovell 10 S P Industries their 200 Day Moving Average. Even with this day, still seeing some upward momentum. Alix a lot have broken the 200 day but have not been able to hold it. What will be the catalyst to break us out on this range . It was really the commodity names that probably the most. Copper and gold up at the most since november, also a transocean. Stock in con of a risk on day across the board. And itd at the vicks still cannot seem to gain any traction. The vicks really low. We keep having this rally where we are climbing higher but there doesnt seem to be a lot of concern. Joe and im going to sound like a broken record but guess what, there are new lows in japanese borrowing cost again. There is the japanese 30 year yield on the screen every day, brandnew lows. What else is there to say . Thelet lets talk about dollar continuing to weaken, revisiting sixmonth lows aft