Gain of about 170 points, after the biggest oneday gain since 1933. That was yesterday. Today might be a different story. At the moment we are looking at a gain of 166 for the dow, a drop for the nasdaq, maybe down 34 points, and the s p down about 11. Mixed picture this morning as investors try to get to grips with this new package and what it means for the economy. Also influencing the market, the president s statement that he would love and he used the word three times, he would love to get the economy back up and running by easter. Thats just two and a half weeks from now. It is a goal rather than an absolute. Critics say its just too soon and many state and local governments reject the president s time frame. Meanwhile, the call for Domestic Travel restrictions keeps on growing. Some officials at the white house suggested that anyone leaving the new york city metropolitan area should be confined to 14 days quarantine. As of now, lockdown, stayathome orders are in place for well ov
In what minority leader Chuck Schumer called the largest rescue package in american history. Boeing and the Airlines Getting a huge lift on the back of that stimulus package with some names up 20 or more and treasury yields pulling back today with onemonth and threemonth yields in negative territory for the First Time Since 2015 weve got a great lineup of guests for you today including two key players in the global food chain the ceo of yum brands, they own cfl, pizza hut, and taco bell, keeps some open for pickup and delivery the ceo of mondelez, the steps his company is taking for his workers to keep that food on the shelves. Lets focus in on the big stories we are watching today. Mark santoli is tracking the market but kayla has the latest details on the massive stimulus package and when we can expect it to actually pass. Sara, the text of the legislation was circulated around 10 00 this morning before republicans and then democrats in the senate held respective calls with the treas
Sports world coming to a halt while the happiest place on earth closes its gate. 2020 race impacted by coronavirus as well, Campaign Events canceled. Debates with no inhouse audiences, mornings with maria live right now. Maria we want to check overseas marks right now, take a look, mixed story over in europe. Ftse 100 now turned negative, down 421 points, 7 lower on financial times. Cac request rant is up 150 and dax index in germany up 307 points. 3 apiece. We are looking at those losses extend this morning in the uk. In asia overnight it was red across the board certainly in the heels of wall street but markets in asia actually closed off the lows of the session, worst performer was japan, down better than 6 followed by korea. South korea banning short selling for now 6 months, lets check Interest Rates, the yield on the 10year treasury moving up. The yield is up now 10 basis points at level of. 896 on the 10year, Oil Prices Rising this morning after 2 days of decline as the price wa
Hour, jp morgan private banks and Asset Management ceo and cnbc contributor we begin with breaking news. Nearly 90 of the s p 500 is in correction territory what is called a move of 10 or lower from recent 52week highs. All the major averages look to push deeper. If these futures moves hold, the dow would be down by 620 points at this stage. The massive move of volatility we are currently just off our worse levels so far. Checking treasuries. The 10year note long bond currently near the 10year note yield 1. 91 . 30year treasury long bonds, 1. 69 . Twoyear note yells below 1 as well we are seeing red across the world as they enter their correction mode. Not a spec of green to be seen global Team Coverage this morning. Matt taylor in singapore and Steve Sedgwick in london matt, well begin with you in asia the route continued there as well absolutely, dom a rough day. Many markets entering correction territory. Falls across the region in the order of 2 to 4 as those virus cases outside of
Jon najarian, what do you tell people dont appreciate the number of cases there are going to be. Me what do you do with the up fear is also contagious. People are going to stop going 1,000, down 1,000, 92 bips on out. We are a Service Economy the ten year people have to go out. What are you supposed to do . I dont see any reason for if you are me or somebody optimism, the stock market has very, very shortterm you buy on completely underreacted. The disand sell on the rallies from a wellknown hedge fund if you are a regular investor at manager, versus bellski and home that probably doesnt have as much access to information and the markets as frequently as dwyer who say we are going to be higher at year end i do, then i think you kind of sit it out, scott. Make sense of that for people . You hold onto what you have got. It is impossible to make sense of it, because we are if you have got the sort of stocks that you know are not as talking about an outcome that no one knows the answer to.