Works ceo will be joining him along with other content and we are out of time, from myself and tyler matheson, mike santoli has you on the other side. Stocks surge as Congress Says that help is on the way when thats still the question. Good evening and welcome to cnbcs continued coverage of markets and the economy in turmoil. I am brian sullivan. In a year of firsts it was another recordbreaking day on wall street. The dow soaring 2,112 points, thats its biggest point gain ever and the first time the index has risen more than 2,000. That move translates into an 11. 37 gain making it the largest climb and the biggest since 1933 on this as they close on a massive package for the American People that could be in the trillions of dollars and well have much more on that coming up and first, lets get to the markets and the money on another wild and record breaking day on wall street we begin with bill nygree in. We need to hear from you on a night like this. These are the machines coming in
Let that sink in for a moment. 16 just this week were not even done. President trump announcing a travel ban on all nonu. S. Citizens coming in from europe were awaiting details on a stimulus plan or domestic response to ensure containment mitigation and increased testing capabilities right here in the u. S. Were talking to three ceos today. Group one auto, redfin and verizon ceo about how these companies are dealing with the fall out and what the impact of this virus will be on the overall economy. Lets get right to our reporters covering the story for us rick ismonitoring the action i the bond action. We begin with steve on the phone with the latest on this move by the fed. Its been about an hour for markets to digest it people are still trying to figure it all out here it looks like the Federal Reserve is going to do a series of masds ifr operations to put it this way, it will be a trillion dollars a week in the following ways a half a trillion dollars was done at 1 30 today a half
Year high as the coronavirus layoffs start to show u. And Oil Rebounding crude on track for its biggest oneday gain ever. Absolutely. Its up 26 though still down 17 for the week as a whole. The dow was up 500 points. Now only up 235. Lets focus in on the key stories were watching mike is tracking todays Market Action e meg is covering new developments from the Pharma Industry and kayla has the latest on proposed bailout, but mike, lets kick things off with you. Thanks. Obviously seeing a general pause in the intense selling weve seen perhaps had a wave of that liquidation pass us by and the big old Growth Stocks are leading the way. That hasnt changed through this whole sell off especially sed soed if you look at a one yore chart starting with the nasdaq, 100 the leader, s p 500. The equal weighted verse then the small cap russell 2000 you see that distinct tearing on a oneyear bases in terms of what has worked better if you just focus in on the last month, by the way, one month ago to
S p breaching 3300 trump says the United States is in a great position for phase 2 trade talks with china retail sales rise in december, capping off a strong year for the u. S. Consumer. Joining us is anastacia am rosa great to see you today, so the second point is so thats whats lifting the market. As you we were talking about before the show, theres quite a few notes and and that is as likely to improve the business sentiment. The fact were still willing to engage with china despite, you know, the different agenda we may have on the tech space, i think thats actually quite positive thank you for being here anastacia. Will mike santoli has market dashboard. David faber is covering up unveiling of Nbc Universals streaming service, Peacock Morgan stanley soars, a very strong q4, let to about a 2 pop in the shares, but the new guidance they issued on the Earnings Call and the targets around that really drove shares higher q4 revenue what 10. 9 billion eps was 1. 30 per share it was a bro
And he will join us in the questions and answers. As power lunch begins right now. Welcome to power lunch, everybody. Im Contessa Brewer and just admit it you dont know which day it is either after the markets were closed yesterday, it feels like a monday weve got stocks falls from record highs today the dow down triple digits well, were off the lows of the day. Were at lows of the day right now. Breaking that fiveday winning streak take a look at boeing. That stock is moving lower as sources tell us the Aerospace Company does not expect regulators to sign off on the 737 max until june or july thats thats months later than anticipateded and with the markets at or near record highs seemingly every day, does it make stocks vulnerable to a pullback on any negative news . Bob b pisani at the New York Stock Exchange with more we have got a one two punch here today first late in the day, we have the nuews about boeings planes, the 737 max maybe not available until the summer that hit us then