Burn a good thing in when you are an airline good morning, good afternoon, good evening thank you for joining us here on Worldwide Exchange. Aside from those top stories, we are following a massive 7. 8 earthquake that hit off the coast of alaska. There was an original tsunami warning that has been called off. That is a very big earthquake. Well bring you more relevant headlines as we get them thinking about the folks of alaska a quick check and futures will see the bottom right the dow futures are off. This comes off modest gains from the dow yesterday. We finished well off session highs. The nasdaq came off mondays move again hitting an intraday alltime high. Outside of stocks, we continue to watch Oil Prices Tick up. Yesterday, officially at prelockdown highs crude is a couple dollars more than that, we can see where we were prior to march 11 when all the lockdown and virus stuff hit and negative 40 price will go down in history. Oil still down 32 back to pre lockdown levels. As som
Juniors bakery took a ppp loan at the beginning of the pandemic now the company has been laying off its workers. All 650 workers. Some have come back. Well take a look what the they have done with the money the owner will be back with us a little bit later today on power lunch which starts right now. Thank you, bill. Welcome. The s p hitsi inhitting its hig level. Lets get to bob with more on those market moves for us. Bob. Kelly, five straight up days for the s p 500 and Global Markets are rallying as well we had a terrific opening. Once again were falling back on the usual. The big megacap names. You know those names im talking about new highs for amazon, apple, microsoft, netflix as well. Were seeing a notable rally over seas in china and china related stocks in the United States doing well. Were seeing new highs, for example in alibaba, Shanghai Exchange at a twoyear high as officials over there literally trying to jawbone the markets higher they seem to be succeeding in the short
Continues to rise significantly in terms of the virus and we talked a lot and well hear from meg again and meg has been following it so closely for us and the market only seems to go up as the cases go up. That is leaving some people scratching their heads and others view it as were going to get to the other side and a view of what the economy will look like and then you come back to the fed, carl, which seems to be the fuel that everybody sort of points to as the key fuel, i should say, for this market. Yeah. Morgan, lots of notes over the long weekend and we hope everybody did have a great, long weekend. More debt and liquidity and asset reflation. That was literally the title of the jpmorgan note on friday. Yeah, for all those folks that were basically still stuck at home or not traveling and getting on airplanes, lots to digest in terms of market commentary over the weekend. I would add to the fed, i would add the expectations that do seem to be baked in around what phase four fisc
A much overdue look at the cyclical rally and the reopening story in general the v rally that a lot of people have been hoping for has been inverted theres an inverted v thats actually been happening. Lets start with Energy Stocks marathon, mro. Marathon was 6 at the start of the month. It goes to 9 and back to 6. This is essentially an inverted v. Hess looks the same way. If you look at general electric, it goes from 6 to 9, i believe, and goes back down again to essentially 6 and change, same situation, a v there caterpillar looks the same way united airlines, we watched with our mouth open it goes from 30 to 50 and back into the 30 range, all of this in a few weeks the market cap of citi group goes to 60 and back essentially to 48 thats what im talking about these inverted vs travel and les yoisure, 30 to. Youd think bond proxies would do well in this environment, but not today. They had a modest rise about 10 in the last few weeks, but even they werent safe. The market has voted it
Company holiday to the calendar. And he are everyone tz artz o raise serious cash thats all here on Worldwide Exchange on cnbc. Good morning, good afternoon, good evening. Welcome to wherever in the world you may be watching. Here is how the money, your markets are setting up their day. Stock futures indicating the dow is likely to rise at the open. It is early. We are in the green. We are 116 pointsto the future side as well snapping the threeday streak. It did during the second day o temperature. With that pull back, blue chips need about 1,862 to complete that selloff look at the wild swing after a relatively calm one. Watching the credit and bond markets as well. 10year at 0. 73 look at oil. New data that shows Venezuela Oil output has collapsed to 570,000 barrels per day. That is down from more than three plus Million Barrels a day. That is a 76year low in oil output for the most oil rich country in the world a true collapse of venezuela there. Wti crude is up to 38. 32 around the