The economy continues to rage on. I will get reaction from trump attorney jenna ellis in just a moment. And what did china really know . Was this virus released in a lab . Where does our relationship with the country of china go from here . I will get answers from Florida Governor rick scott. All that and more on making money. Charles well another morning of disappointing Bank Earnings and reminders of just how quickly economic carnage can pile up when you shut the economy down. But markets continue to also exhibit some spunk and attract buy on dips even on bad news, folks. So what is motivating markets . I want to bring in money map suppress, Keith Fitzgerald and point view Wealth Management david dietze. Keith, let me start with you. The dow is down. I dont consider the dow fob the market. There is no google, amazon, facebook or utilities and boeing has too much influence. S p for the most part higher. Nasdaq soaring what do you make of resolve were seeing these days versus two or th
Even though some of might be different directions. Were monitoring that. Monitoring what is the second biggest point gain so far, for the dow jones industrials. All major averages are advancing pretty smartly, right now, amid talk that this deal will get done, timing is only issue here. Whether this stimulus measure. That is out there, will be enough. Including that lockdown in wuhan, the epicenter of the coronavirus, slowly by surely. Keep in mind that about 60 million chinese remain in this proverbial lockdown. But the biggest of all was instituted a few moments ago with indias Prime Minister, announced a lockdown not for a section of country, not for some in this country but for all. 1. 3 billion indians in his country. This will last for 21 days. Youre beginning to see a trend here that shows the frantic efforts we are taking to provide stimulus to sort of slow the Economic Impact or the a least the arrest the blows in this country. As other countries are sort of dramatically ackno
York have been discharged. Meantime, italy seeing its lowest number of deaths in more than two weeks and that is helping the market this morning. A strong rally in store as investors begin this holiday shortened week with some optimism. As you can see, the futures up, the dow up 788 points, the nasdaq and s p all well above 3 . It is a different story, though, for oil. Even with hopes of a deal between the russians and saudis, we still have a glut of oil because, well, no one is using it. Oil down, as you can see, down nearly 5 at 26. 94. Meanwhile, questions begin over whether to reopen the economy, when exactly. That will be a political decision as well as a medical one. And President Trump warming to the idea of a second task force whose job would be reopening the economy. All of this while the need and scope of a fourth stimulus package is also being discussed. Hello, everyone. Im Ashley Webster in today for stuart. We begin with your money. Joining us now, economist john lonski. J
Quote, dont go to crowded places. Look, thats going to slow the economy. We dont know by how much. Remember, friday, larry kudlow was on the show, told us that targeted stimulus is being considered. The fed is being urged to take steps, too. Were watching for any announcement. Heres the other big problem. The price of oil is tumbling. The saudis have launched a price war, promising to flood the world with a glut because russia wouldnt agree to production cuts. American drillers will take a huge hit. They cant make a profit at 30 bucks a barrel. 31. 89 right now. Look at this. Money pouring into treasury securities, pushing the yield way down to yet more record lows. Takes your breath away. We were down to 0. 31 at one stage. Now we are 0. 41 . Extraordinary. It has to be said, the United States is in a better position to weather this storm. That jobs report was a blockbuster. Look at italy. Its locking down a quarter of its population, locking it down. That lwill ensure a deep recessio
China is the manufacturing workshop of the world and its shrinking, manufacturing, shr k shrinking at its fastest pace ever. This is an astonishing move into the safety of tenyear u. S. Treasuries. At one stage that yield had dropped all the way down to an alltime low of 1. 03 . Right now, we are at 1. 08 . Historically very, very low. The virus is the problem. We do not know how much our economy will slow if large numbers of people are quarantined and people are unwilling to go out and shop and travel and mingle. We have these developments on the virus. Deaths, two deaths in what appears to be a cluster of cases centering on a nursing home in kirkland, washington. Firefighters who went to the home are now quarantined. There are confirmed cases in nine states. Florida has declared a Public Health emergency. Theres this bombshell from iran. A Senior Adviser to the Supreme Leader has died from the virus. Several members of the top leadership are infected. But iran has done little to rest