We were up 1,000 points on the d dow. The s p 500, 3202. Nearly 3 there. Theres the nasdaq 9817 200 points to the upside josh brown, the dow is now 50 higher than it was its up 50 from march 23rd intraday lows its remarkable. It really is. I think the story here, and aye be ive been hammering thanksgiving is broad participation. Every sector youll see the Smaller Companies out pacing the larger ones. Very big story this week is Small Cap Value which had been absolutely left for dead made a 30 recovery in the last month. I think the bottom may have been when baa rrons called into queso whether dimensional funds would be a fund giant for much longer given thats one of the factors they weighed toward. Small value up 13 this week we talked yesterday about the equal weight nasdaq being twice as good as the nasdaq on the week you can find that all across the board. I think its so important. If you want people to really buy in to this recovery then it couldnt just be amazon, microsoft pushing
This morning dr. Fauci will enter the senate chambers, at least virtually, and testify before the senate. There are a lot of dynamics around this word lockdown. Seeinge and wuhan infections come back. They will test the whole population of people. We will have plenty more of that. Now lets get to first word news in new york city with ritika gupta. Mentioning,ou were a stern warning from dr. Anthony fauci. Disease infectious chief will enter the senate sayinganthony fauci there is a chance of more outbreak without following white house guidelines. President trump says we have met the moment and have prevailed. U. S. Deaths have exceeded 80,000. He later said his remarks relate to testing for infection. The Federal Reserve is watching its longawaited backstop for companies today, and will begin by etfs for corporate debt. It played an Important Role in keeping the Financial Markets relatively calm since march. In china, all 11 million represents residents will be coronavirus. People are
Winning streak since december. Pete, im going to begin with you. I hope you and your family is well its been a while since we have seen you im thrilled to have kwyou balk im really surprised by what i see. I have the most exposure to stocks and the least exposure t options you have had in two years. Tell us why. Its something we talked about a while back a cup of months ago. When the volatility starts to spike and you see it in high level, i never interpreted this going towards 85 high levels being in the upper 30r 30, the low 40s. That move from 13 to those levels greats a great opportunity. The reason you have gone to the up side is people are selling off stocks which is what was happening. Not only are they selling off stocks but give you a great opportunity to look for those stocks that you havent owned for whatever reason. I hadnt owned certain names for Different Reasons. Some of them is because i thought they were too high i didnt like their pe levels. It gave mean opportunity t
And the fed will get to zero pretty quickly. They are in a nowin situation. Had they not done anything the market would have been disappointed i think stocks are higher a year from today, at the end of the year. I am looking to raise my target i am at 3440 my notice for earn something 172. I think they cut 50 at the next meeting in just two weeks i think thats going to happen and thats where we begin our debate today, what i think is the only one that matters. The coronavirus and whether it was a blip or a black swan and what that means for where stocks may go from here we will attempt to answer that question today with our Investment Committee committee and another guest vinny viola. Joe terranova, stephanie link, josh brown, steve tubin. We will lean on him today to find out what he is telling clients. Stocks and bond yields plunging. The stock off its lows, still a loss of 550 points you tell me, is this a blip or a black swan a blip, stocks are voweler inible, they may go down well
Americans, its bad. The infection adds to the oil slump. Shery lets get you started with a quick check of the markets. We were seeing earlier losses gaining three tents of 1 , but its still early in trading coming off the worst day again since 1987 and losses accelerating and falling to session lows. President trump talked about economic disruption lasting well into the summer. The dow now falling to the lowest level in two years. Losse talking about a 30 since the peak in february. We are seeing the Downside Pressure with the s p 500 index. Every sector on the s p in the red with losses of at least 7 . Financials and real estate leading the declines. , fallingave small caps more than 12 . U. S. Futures at the moment, a little upside. Up 6 10 of 1 . We will see how things shape up as the asia session gets underway. Amid thesia wideranging meltdown with more central bank rates, moving to boost liquidity we had on monday. The bank of korea delivering a 50 basis point cuts in emerging mee