Soon be dusty exhibits in museums or in the midst of change and thats our theme today are made from a to b. The mobility of the future its good to have you with us well theyre among the most popular Passenger Vehicles of the present s. U. V. S what began as a bare bones military vehicle the Sport Utility vehicle or as u. V. Is now one of the most popular set of wheels on the road todays versions may be better engineer than their predecessors they are still expensive large and not very economical critics say they clog up traffic and pollute the air they are huge earner for the Automobile Industry just why are s. U. V. S so popular what is it that fascinates so many drivers my colleague malta wrote a column on when to take a look. Faster. Stronger. Bigger. All of the worlds people are crazy about s. U. V. S. Being used as a status signifiers. Just the greatest feeling driving around in the flesh. Other problems that they cause. They know youre. Trying to. So lets get into gear and check
Thats the worst performance in two weeks. The dow has been down. Nasdaq have been down five out of six the tech selloff was worst it continued down 3 led lower by stocks like apple the same old story big volatility coming. Those are really the tail thats been wagging the dog for a while. Youll see the nasdaq is lower once again the other two averages hanging in there the s p on the flat line nasdaq down another 50 points. Fur watching what is happening over the last two months they closed. Dow at the lowest level since the third. The 10year sitting at 0. 66 the story that seems to never end, tiktok. Here we go the owner bytedance applying for an export license in china as it pushes for a deal in oracle and walmart. They did not mention the pending deal and technology it was seeking to support calling the deal dirty and unfair they have no reason to approve it all of this raising questions about that prospect and what that would ultimately look like. What happened earlier in the week we
Will allow us to master this challenge while delivering First Quarter profit slumps at hsbc and the bank warns that the coronavirus will have an impact the cfo says the outlook is improving for one key market caller we are beginning to see signs of recovery in china in particular, lesser extent in hong kong. We do think Economic Activity in q1, we do expect to see a recovery going into the Second Quarter. Novartis beats expectations as the swiss pharma giant be benefits but says potential treatment needs more time. Bp says environment is brutal and unprecedented we are very, very focused on driving that base even down and getting it to less than 35 a barrel next year and beyond if possible President Trump says china could have stopped the coronavirus from spreading adding his administration is probing what happened and warning beijing of consequences. There are a lot of ways you can hold them accountable. We are doing very serious investigations, as you know. We are not happy with chin
We do want to check where stocks are and what has been a volatile few hours of trading the dow holding on the a 1. 5 gain thats better than 300 points. That stunning claims number today. Everybody digesting that the stunning move higher in oil as well. The president saying there could be a cut of 10 Million Barrels lets welcome in jim she joins us on the phone. Welcome back i hope you and yours are safe and healthy. We are, scott i hope the same for everybody there and everybodys families we appreciate that. Can you sort of help us. I want to make sure our viewers understand exactly the angle that were coming from today what is your current positioning in the market . Are you net short as we speak . We have our own hedge fund which basically is always net long varying degrees. That is about 50 give or take a little bit net long. Thats on the low end of where its been. Thats probably where well be for a while. On the short onlies, its been hard the stay short. If the market goes your wa
Well china for instance reporting an increase of cases and u. S. Officials warning this week will be the toughest yet as hospitals struggle to maintain and eck up and down their capacity. Coming up on todays show, blackstone is donating millions of dollars to support Health Care Workers and First Responders in new york well speak to the ceo about that and his thoughts on this volatile market. Plus, well be joined by the ed of the transports union. 59 minutes left of trade. Lets focus on the big stories we are watching nowful meg with the latest on treatments for the virus. Peter from canter fitzgerald is here with us to talk b about the volatility in the oil market in particular, but first, mike, want to get your take on todays rally and where this puts us a pretty crisp rally, cant argue with that. Where it takes us is one of the most interesting things. A oneyear chart, 26. 30ish on the s p 500. Its exactly where we closed on march 30th so you remember that was that big three day ral