59 minutes we are session highs on the dow record highs on the nasdaq composite intraday and set for a record close coming up, the rebound for Airline Stocks has been fast and furious. Is there enough demand to justify the rise well get a firsthand look with robin hayes. Plus, a powerful email from a Goldman Sachs employee about equality in america made the rounds on wall street in the past few days. Well speak with freddererick ba that is coming up on the show. Lets focus in on the big stories were watching to day. Mike san thole and Brian Sullivan watching the Energy Sector which is helping lead the market gains today mike, lets kick things off with you. Yeah, well, this rally continues to impress not just in the magnitude of the gains since the march 23rd low but the persistence of it. Look at a two year chart this is really now a broad move. Up until around this point, you can say it was relatively narrow yes, some of beaten down stocks gained most. Mostst reas of the reason is th
Talking with andrew about what exactly got washed out yesterday. Hard to say a lot when hertz is up 50 premarket. I mean, look, it is kind of a comedy of errors, no insult to the board. Really there is a Bankruptcy Code and maybe hertz management got permission in the old days when you went bankrupt there would be a little bit of a stump of stock so that you could go and sell it and show the irs that you had taken the full loss carl icahn sold a ton of the stock in the 70s, he sold 38 . I think if he had known that there would suddenly be a new stock he would have hit that bid. If i were him id sue. Id sue right now. I would just hire a lawyer and sue because he sold at what the company was advertising as a bankrupt price where the common stock was and he has i think a right to be able to claim 38 of this money and i urge him to do so, to hire a lawyer and get the money because this is just ludicrous. Well see what the court says i think theyve got to get to 4, right, to get to a billi
Market we have a great lineup of guests coming your way well speak exclusively with Morgan Stanley ceo james gorman. His take on the markets come back the read on the economy and the strength of the banks. Plus, you will hear from the ceos of macys, Signet Jewelers and brown foreman. Theyre joining us to discuss their path forward for their respective irz stroo respective industries. But lets begin with the Broader Market the rally, take the pause today following the rapid surge that pushed the s p 500 back into territory for the year if we close higher well get another record close for the tech hefin dechl. What you are watching . It does look that way, sarah. A recoil from the recent trends. The headline index is pulling back outside of the index. The majority of volume is to the down side. This is one day where the indices are understating the weakness they want to take a look at the one year really all the pullback meant is a little dip below 3200. It held there and bounced modestl
Its down 207 but the russell 2000 has the biggest percentage loss. The small and midcaps are getting creamed, down about 3 right now for the russell. Powell tying an economic recovery to a Covid Vaccine and therapies that can cure horrific symptoms including a disturbing new lifethreatening clotting disorder like the blood clots that cost a broadway star his leg. Enter the biopharma ceo mike sherman, here in a fox business exclusive on his new anticlotting covid drug thats on the fda fast track. Boy, are they moving fast. Plus as the covid outbreak destroys huge retail names, its actually bringing back one from a near coma, at least the stock. Speaking of stock, its overstock. Com, not just alive but actually thriving with triple digit sales increases. Overstock ceo Jonathan Johnson here in a fox business exclusive on the steps hes taken to fill a leadership vacuum left by the controversial former ceo, patrick byrne, and the problems of coronavirus. Plus bring on the quarantinis. Alcoh
Basis points. Lets get to our guest now. We have a very fascinating guest right now. Ed hyman, Institutional Investor economist of the year for decades. The surveys he carries out are unparalleled in the industry. We are going to talk about Central Banks, the ecb, and the fed meeting this week, and the bank of japan coming out with some decisions today. Chairman of evercore isi, is with us now. Small and mediumsized enterprises, and companies that do business is with china. Obviously, the data is falling off a cliff right now, but in your estimation, what will the severity of this recession be in comparison to, say, 2008 . Ed much worse. But this is a very interesting time for me. Ive probably been the most bearish person on the street with our gdp numbers down 50 , and like you say, things have been kind of freefall, Company Surveys included. I just wanted to share with you that for the past two weeks, our surveys have increased a little retailers and restaurants. The checks that were