Question, which is does equities know what they are doing . We have jobs numbers looking like they will be bleak. Is the very devastating consensus for more than 21 million jobs lost in the month of april. It is interesting because the bulls and the bears have been a little bit of a sideways battle over the last 20 trading days. There all there are higher highs eating that the bulls might have strength, but the s p 500 relative to the big rally out of march really has not done much net. The bulls and bears are looking for more information. If the report comes in better than what is expected, that could help the buyers rake out of the range. For some of the reit if there is some color worse than expected, you could see some test, and it seems like there are a lot of folks on the street that are expecting some sort of downside action. Maybe not on the payrolls report, but at some point. David thank you so very much. Some of the states are starting to open up, although at different times
Steeper decline. We will have the first numbers. First contraction in 6 years and also hearing from Federal Reserve jay powell later today. Also another big day for earnings, boeing is in focus this morning, wall street journal reporting reporting thae aircraft maker is facing criminal probe into Quality Control issues on still grounded 737 max fleet. The company also reported looking to raise capital to major bond sale. On tap before the bell this morning, General Electric is out with its earnings along with master card and ensurers anthem and humana, after the numbers attention to microsoft, facebook, tesla, markets are higher, take a look at futures, gain at the start of trading, dow futures right now showing a gain of 180 points, three quarters of 1 . S p is up 25 and nasdaq higher by 93. This after the dow, nasdaq and the s p 500 erased early gains yesterday to actually end lower. Dow industrials were down 32 points at 4 00 oclock on wall street yesterday and nasdaq down 122 and s
Than 2 , that would be breaking the streak again today. We are seeing Dollar Strength continued to climb and crude is up 3. 5 on news we expect saudi arabia and russia to try to get together to figure out how to cut back some of that supply. Flipping up the board, i wanted to take a look at the residential market, in particular rates we have been looking at. Ellington Residential Mortgage rate is one i am looking at. It is up 50 verso. It is having its biggest intraday gain ever. It did provide updates on its portfolio and business operations, which is giving investors a relief. They did come out and say they have met all of their margin calls. They lowered they lowered their leverage position to a strong liquidity position. There is a lot of focus on the commercial mortgage and the residential market, how this would fare. Today people are less concerned about the health of the mortgage market. David . News. I like good to what extent is some of the lift we are seeing inequities Short
I think it is important to keep we actually havent seen a vote on the 100 billion stimulus. [indiscernible] now they are going to try to work on a much bigger bill. But keep in mind it has been difficult to get this package that is much more targeted past the goal line, so we need to keep our expectations and check in terms of both timing and scope. It is a big number that would be welcome by the market and by the. Conomy [indiscernible] , the could actually happen market needs to keep their expectations and check in terms might beickly this real stimulus. David we are talking about 1. 2 trillion. We have 100 billion the senate still havent acted on. Beyond that, do we have a sense of what it is going to go for . As i understand, some amount of money, maybe 1000, to peoples pockets. Theres also some talk about differing tax payments in the treasury. Is there going to be money for the airlines . Is going tonk this be very multidimensional. Because this is an unusual crisis in some ways,
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