Today. With the dow jones average skyrocketing 530 points, s p 1. 32, nasdaq 1. 72, one point before more saber rattling with china. All sorts of beaten down stocks, though, were higher. While the covid19 winners, well, they got slammed theres just one tiny problem with this action we dont actually have a vaccine. Does that mean the stock market is getting ahead of itself lets unpack the issue first this rally is based not just on hopes of a vaccine but a firm belief that the whole virus problem isnt nearly as dire as we thought a lot of people feel it has been blown out of proportion by the media, and the president s right, the people feel the president s right when he says we should open up everything betting on a vaccine makes sense. Since the beginning of the pandemic they warned us a vaccine would take a long time the fastest was the mumps which took four years. Every day were bombarded about another attempt to end this nightmare. Today we heard merck is working on a Magic Technol
Hold on. This is a tease. Stealing the thunder already this thats right, we are going to talk about this in just a moment anybody still on radio has to wait a second. Take a look at the futures this hour dow futures down about 170, s p off by 2 and nasdaq down by 81. Yesterday, nasdaq down about 1 . Crude oil prices, lets check that quickly we had been watching that contract build up. The july contract build up to just over 34 yesterday. Lets call it even at 32. Then there is the treasury market weve been watching youll see the 10year note has been yielding 0. 64 . A little pressure there too. Take away. With that tease, it feems like months now, weve had really big guests and corporations a big interview at 8 00 a. M. Eastern. Well talk all things economy with former Vice President joe biden about the pandemic, the race for the white house and so much more. Well do that at 8 00 a. M. Live with him a big interview to look forward to on this friday. Tgif i know all the days roll togethe
Midmarch. Well get to macys and more and oil above 34 as the reopening drives demand. Jim, you just said to joe the reopening is working and Even Companies like ford that might have to send a few workers home on a given day are finding ways to adapt look, things are a little better his is the depression taking off the table. A lot of people seem surprised when you get an expedia number where they say theres a little more travel, and best buy is able to do a good job doing curbside pickup. People turned out to be more inventive. We heard that from Brian Cornell yesterday, and hell be on the show today facebook being inventive a lot of people have figured out a new way to do business in a pandemic and i think its vising because we didnt think it could occur im not predicting some sort of gdp revival, but i think that ingenuity is playing a big role in this particular moment when it comes to the pandemic i do want to get quick to some Home Building because theres some numbers out that 41
The latest on the road ahead for its potential vaccine. Retail back in the spotlight again, once again, two companies that have remained open reporting target and lowes. Markets this markets posed for higher opening. Dow trails up 294 points right now, 1 and a quarter percent higher, s p up 33 and nasdaq higher by 103 points. All averages better than 1 . Concerns over modernas vaccine trial led to lateday selloff yesterday. Delta Airlines Adding Flights as the country reopens. Ceo of delta is here ed and find out when he expects to see domestic and International Travel bouncing back. Measures to keep passengers safe and boeing prediction that Major Airline will go out of business by the fall. Demand for car products risen 500 . Hard to find on store shelves at 8 30 a. M. Clorox ceo, how they are trying to meet demand nor 5 Dividend Increase and what the future of the business holds. Clorox this morning. Newly declassified email from susan rice showed she tried to protect then president
Nobody wants a second wave. The market starts the week on the upside again. Investors like the get back to work trend and there are several forecasts of imminent recovery for the economy. Secretary mnuchin says there will be a rebound july, august and september. The dow is looking at a 200 point gain first thing this morning. Thats close to 1 . A nice gain for the s p, close to 1 . The nasdaq will be up over a half percentage point. Now, the reason the nasdaq is up, because of this. This week, many Big Tech Companies report their financial position. Strong results expected because the virus lockdown has a more limited effect on these companies. Premarket, most of them are up. But look at oil. No joy for the drillers. They are looking at 12 a barrel and the worldwide glut shows no sign of easing. Over the weekend, the price slump claimed another victim, diamond shamrock. The drillers declared bankruptcy. The price of gas still falling, albeit slowly, about one cent down a day. The avera