Similar percentage moves for the s p 500 and the nasdaq composite as well. The question becomes after the best week for the dow since 1938 last week, the best week for the s p 500 and nasdaq composite, are we starting to see a market bottom play out . Lets start here with our invest Investment Committee joe, what are we seeing here is this a market bottom we can see developing out in the next couple of days and weeks no one knows the answer to whether this is an absolute market bottom. What is going on is theres a significant trading bounce in the market and a lot of it is predicated on the end of month rebalancing we know will occur into equities. Today, very surprising there seems to be a high degree of optimism relative to the expectation were going to get a significant amount of negative news coming this week in the form of ism in the form of unemployment figures and in the form of continued negativity surrounding riding cases of coronavirus here in new york city which is the epice
Of 1 . The Treasury Curve off the back commentsllen steepening just a little bit. Alix a little bit of a risk on feel except in portions of the currency market. The yen gets a good bid. , stephansshocker just a touch over 60 basis points. South of south of 58, 57, a lot of people denying what the yield curve could mean. My question is at what point did the yield curve become real for the deniers . The is it the number or speed . Crude prices are more expensive now than in two months. An interesting phenomenon. Time for your morning brief. The u. K. Delivering its autumn budget. The data dump, jobless claims, durable goods, and it 2 00 releasing the minutes from the last Monetary Policy meeting. Breaking headlines for you, Rockwell Automation rejecting the unsolicited proposal trump emerson. Rockwell rejecting the emerson. Ed bid from we heard potentially we would hear a bit come in as emerson tries to change its business. Cavalli put success of the deal says a than 20 as he different s
Ten points. The nasdaq off by 22. Crude oil prices were up sharply overnight, topping 40 a barrel. First time weve seen that in quite a while. That came after the announcement yesterday of a surprise job in u. S. Inventories. However, wti has turned around since then. Looks like we flipped that contract, too. If you were looking at 40 overnight, were now looking at the may contract. Thats a decline of 7 cents to 37. 69. It will be interesting to see how this new contract plays out. We did see a huge gain in crude oil prices yesterday. The other big mover this morning, currency. The dollar hitting a 17 hch month low against the yen. This came after the minutes from the last months fed meeting suggested that the central bank is unlikely to raise Interest Rates before june. There were a lot in these minutes, but most people are looking at the doves comments after what we heard from janet yellen just last week. Brian . Some corporate stories to talk to you about this morning. Just go right
s it policy or politics you . Both. Doctor carson is both. Its going to be very much on policy. He was very strong a policy. You have been talking about unity on the campaign trail and on the debate last night, can you fill us in on any outreach efforts youre making to capitol hill. I also want to ask about an Islamic State question. We have been called by the biggest people in politics, not only republican politics but also the biggest people in republican politics. Over the last couple weeks. You saw paul ryan reached out, a, a terrific guy i have always respected and liked him. Not necessarily agree on everything because im very strong on borders a very strong on security. I think paul is going to have his views and certain things will change. But paul bryant reached out and we had a great conversation. Many other people at the top, top level. I get a kick, as you covering one person who is a donald trump lets be stopped and i talked him two days before and he said donald we need to
Rocket man] [lets spend the night together] girl]n things wrapping up. This is one of three events that donald trump has scheduled today. Next, he will head to cleveland, and after that, flight to missouri for an event in kansas city. Of wars, ohio and missouri holding their primaries this tuesday along with florida, North Carolina, and illinois. Here is more on what to expect as we head into those contests. Of political strategy from marco rubios campaign encouraging voters in ohio to vote for john kasich rejoining us by the phone, jeremy pelzer. Explain what is going on here. Clearly, i dont know if youve seen a lot of those reality shows, but they are making a temporary alliance to gang up on what they see as the bigger threat, in this case, donald trump. Host there have been a number of polls in ohio showing the showingald trump that donald trump is ahead, but only by the single digits. Where is he expected to do well . Guest like many other states, it is hard to gauge exactly wher