Ten states are beginning to work on plans to open parts of their economy. Maybe in may, the fed launches a commercial paper funding fa s t facili facility there is an argument that calls for stocks to retest are fading. I thought yesterday was an important day with the dave kostin change. I did a lot of work, help with larry williams, about how many times when you have a 50 retracement or more, we have a retest the answer is almost never i think theres a lot of people coming on someone came on the air this morning and said in every single case you have to have a retest. Thats completely untrue if you bounced up 50 beginning last friday thats what we did. A lot of people say this thing is based on large cap companies. Thats what we do. Were not trading luncheonettes here thats not to the detriment of luncheonettes. Were not trading hair salons. Thats not the way it works. We trade Large Capitalization Companies that do better than smaller ones in this environment. Thats life. Is it fair
Because the Senate Just Passed another 500 billion bailout. Bailout, lets say of the last bailout. As we quickly ran out of money thats why the dow surged 457 points s p soared 2. 29 nasdaq 2. 81 house of pleasure Payroll Protection Program was supposed to be for Small Business, right . In the end a ton of that money ended up going too big businesses, Public Companies that was a back rub and sing i feel like a chump. I guess i should be more cynical about politics, just trying to help Small Business. However, if you ask me, that wasnt really the big story of whats going on. See, theres something bubbling underneath right now under the surface. And if anything, it makes me want to be less cynical about corporate america. Thats right corporate america. See, this market is rewarding businesses that have foresight and originality and most importantly, heart i dont want to sound too sappy, i dont know how else to put it. The stocks of good corporate citizens are thriving here mark benioff,
The likes of which they have not seen since 1933, in the midst of a downturn for the month, the likes of which we have not seen since 2008 here we find ourselves this morning looking at a market that will open lower. Your thoughts . You go up 19. 9 in the s p, you can have two thoughts. One is that was the greatest bull market ever the other is, boy, is this market dysfunctional were not moving the way we should theres very little volume yesterday the machines took the dow up 500 points in the last 20 minutes. Im keying on oil. I think oil is something that the algorithms are keying in i wish there wasnt algorithmic trading, but its here to stay the quants are in charge you know, lets bring back the smith corona typewriter. The quants are in charge, they took it up and now theyll cashier the market and cash it in lets come back to oil for a second it does get lost sometimes in all of the volatility were seeing and our focus on the economic crisis, on the Health Crisis, on the equity ma
Cuts so futures are pointing to further declines despite the jobs growth today, smashing expectations for february. The economy added 273,000 jobs during the month, versus the expected 175 Unemployment Rate 3. 5. Wall street looking to close out a turbulent week, the tenyear did tumble below 70 basis points for the first time ever, as investors look for safety amid fears. Revisions on the jobs number not bad but people are calling it the least important jobs number in a long time i dont want to go there. Im going to say the opposite. When you come in with a head of steam, at least you got some possibilities that were not going to go immediately into the recession because there were you dont hire and then lay them off the next day the 53,000 jobs in Food Services and drinking places, thats an extraordinary number are we going to fire all those people interesting. Not right away. Not right away. But there seems to be a growing belief that we are going to have a recession. Right but im sa
Breaking news. U. S. Stock market futures are limit down even as the Federal Reserve slashed rates to stave off recession in the face of a global coronavirus threat. Life in america changing rapidly as governments at every level take drastic and unprecedented steps to try to slow the spread of the pandemic. Major retailers including nike and apple, shutting their doors for weeks. Well talk about the fallout for the u. S. Economy it is monday, march 16, 2020 squawk box begins right now. Good morning im becky quick at cnbc headquarters joe kernen and Andrew Ross Sorkin u. S. Equity futures hitting limit down after dropping 5 that means they cant trade any lower this morning those are the curbs set up by the exchanges. You will continue to watch whats happening with the etfs, however, because they are not held to the same restrictions. Can you see the dow etf is down by 9 . The s p etf down by almost 9 . That gives you a better idea of where the major averages would open if we were open h