Futures and negative territory for the first time on record. Air travel is floundering with carriers slashing services and grounding planes. Richard branson says the virgin operation may not survive. Today was big story the crash in oil prices. We have the wti futures settling at 37. 63 per barrel. You are taking a look at june futures at the moment. This of course still at a volatile level, but the real question being is will it suffer the same fate . Today, we saw the technical auditing exacerbating the price plunge away from the may futures contract ahead of the Energy Companies running out of place to store oil. U. S. Futures jumping 3 10 of 1 after they pulled back from a six week high. Quibi stocks under pressure. Jim. Ng us now is what was interesting in todays session was it a virgins we saw in the market. We had the price of oil collapse but at the same time, really not a lot of movement when it comes to the u. S. Stock market for the treasury market. Why are we seeing such di
Whether it could lead to the next blockbuster drug for amgen coming up. First, though, lets get to the latest fed speak and retail earnings with steve leaseman. Courtney reagan is monitoring that walmart earnings blowout. Steve, kick things off for us here. President bill dudley in a press conference earlier today following up on those sprys minutes yesterday suggesting a rate hike is possible and even likely in june or july if the economy cooperates as expected. Now, day after the minutes dudley said pretty much the same thing. He suggested that his base case is for a kind of for improvement that would warrant a hike. If im convinced that my forecast, my own forecast, is sort of untrack then i think a tightening in the summer, the june july time frame is a reasonable expectation so its a question of whether the economy is sort of cooperating and performing in line with my personal expectations. He did say the british referendum on brexit is something the fed is watching. Thats eight d
Unprecedented but it is rare. Well ask people about that. The industrials bounce back today and what appears to be a deescalation in japan, letting putin claim hes pulling troops back from the border and is calling for a dialogue on the crisis. Is the market reading this one correctly . And weve got jim brent coming up in the 4 00 hour. Hes some of the guys that gmo have been saying if you want to wade into an area thats incredibly cheap albeit risky its russia and gas prom. That trade paying off well today. Well talk to him about that. The russian market up 6 today after mr. Putin made those comments. Another big day for the earnings. After the bell, stand by for tesla. They lead the pack of my profile stocks and among them momentum players, could move in a big way based on those numbers. Also reporting an hour from now. 21st century fox. The move arm of what used to be news corp. Green money and it and many more so well get to those coming up in the next hour. Heres where we stand in
More on that in a moment with our trader. And about that china thing. It has all the makings of a bubble. Chinas runaway growth may soon run into a wall a construction wall from the biggest building boom in history. Dozens of new cities thousands of gleaming towers, all empty. Theres talk there may be economic ruin for investors. And, when the employment numbers come out this friday, if at least 175,000 jobs are added to the economy, get this the number of working americans will be the same as it was just after Lehman Brothers failed 4 andhalf years ago. It was lehmans collapse that accelerated the recession, costing millions of jobs. The Senior Market strategist for trading advantage is scott bauer. Lets talk with him. So scott, we were just talking about this bubble with china. How is that playing down there on the floor this morning . Yesterday, that coupled with the long weekend thinking about the sequester and all the negative news out there, you would have thought that the market