Likely to hit around 15 . This morning, the private sector reports the loss of 20,236,000 jobs just in april. Reopening the economy is designed to try to bring back some or most of those jobs. So here we are. With all the bad Economic News breaking around us, what does the market do . Well, it rallies. For the third day in a row, the market opens higher. This is a bet on the recovery and a bet on the federal reserve, which is putting at least 4 trillion into the economy, and the treasury which is putting in over 3 trillion. Thats called stimulus. Investors appear to like it. The dow is going to be up about 140 points. Nice gain there. The s p up 15, nasdaq up about, what, 58, 60. Look at this. Oil, 23 a barrel. Thats where it is now. Earlier, it had been at 25. There has been a dramatic fall in supply and a hopedfor pickup in demand as some states start opening up their economies. So thats why we are in the mid 20s for the price of oil. But you can say goodbye to the gas price decline.
On this, and take the oil and find a place to ship it. That is proving to be a real conundrum for these markets here. There is a company, variety of companies that do this for a living including one called valpak. It has storage barrel systems i dont know what you call it all over the world, include places in singapore, rotterdam, theyre essentially saying there is no room at the inn. Weve run out of space for the space people are looking. Sort of a doubleedged sword here. The fears in the market they have not gone away. At love oil suppliers, their concerns have not gone away. A lot of wildcatters, smaller businesses if you take exxonmobils and chevrons out of this, to lesser extent occidentals host of others theyre still feeling the pinch. Not as much as you would think. Off lows early this morning but still down appreciably. So well be looking at the forward month contract where june is the most heavily traded at the moment. So we will keep an eye on that but we will also keep an ey
Weve got breaking news coming into our studios at this hour. A major protest now breaking out in boston, the likes of which massachusetts has never seen before. People are coming out by the thousands to protest massachusetts stayathome orders. Lets bring in john cox, former California Republican gubernatorial candidate. John, great to have you on. Your reaction to this news in boston that america is not waiting. Good to be with you. Elizabeth america is not waiting for the shutdown, stay in place orders to expire. Go ahead. It is extremely troubling, liz. This is a serious illness, as you know i had it. I recovered. I had Three Friends that have been in icu. I found out a few seconds ago, my last friend is making it out but it is great. What we also need to have is a view that were not going to make the problem worse by destroying the economy or by taking away civil liberties. I think what were seeing now is disclosing the unsustainability of some of the reactions. Not just in boston b
Weve got breaking news coming into our studios at this hour. A major protest now breaking out in boston, the likes of which massachusetts has never seen before. People are coming out by the thousands to protest massachusetts stayathome orders. Lets bring in john cox, former California Republican gubernatorial candidate. John, great to have you on. Your reaction to this news in boston that america is not waiting. Good to be with you. Elizabeth america is not waiting for the shutdown, stay in place orders to expire. Go ahead. It is extremely troubling, liz. This is a serious illness, as you know i had it. I recovered. I had Three Friends that have been in icu. I found out a few seconds ago, my last friend is making it out but it is great. What we also need to have is a view that were not going to make the problem worse by destroying the economy or by taking away civil liberties. I think what were seeing now is disclosing the unsustainability of some of the reactions. Not just in boston b
Industrials up 225 points, about 1 , s p is up 26 and nasdaq future higher by 84. Markets are erasing early losses yesterday as more states announcing reopening plans. Earning season rolling on this morning. After the bell, attention to disney as theme parks remain close. Investors watching Video Companies tonight. The virus taking a toll on business for sure. Golds gym latest to file for bankruptcy protection, list of bankruptcies coming up. Growing concerns over shortages of meat, cosco and other grocery chains limiting purchases now and pay to go social distance . Frontier air to charge extra for passengers who want to sit next to empty middle seat, mornings with maria live right now. Maria Global Markets this morning, green across the board. The cac quarante is up 79 and dax index higher by 174 points. Germany Central Bank President warning that quick economic bounceback in europe is unlikely. The markets nonetheless trading up. In asia overnight markets in japan and china and sout