Plus, tesla, speeding off to, yes, another record high today what the company said about demand that sent shares into overdrive. Later on, break out the sparklers. Were ushering in the fourth of july with some allamerican stock picks. We will start with 4. 8 million reasons to rally thats because thats how many jobs america created for the economy last month, blowing away economist expectations wall street rallied on the report with the s p 500 finishing the day up about. 5 Something Interesting happened in the market today that we dont often see. We had stocks up, bonds up, the u. S. Dollar up, gold up. So, tim, whats up with todays Market Action . Ill talk about what stocks need to move higher. The macro, again, its not necessarily something to do cartwheels in absolute terms, but in relative terms to where we are, weve taken back onethird of jobs lost we had pmis around the world better this week, housing numbers that were better bonds should be slightly selling off here except for
Under pressure after a big rally for a couple of days. That part of the risk asset trade, falling, pressuring stocks a little bit overall. Oild boil clearly clearly is important. Talk to us about u. S. Treasuries. We are going to have to borrow an awful lot of money and its putting the treasuries under some pressure. Abigail Something Interesting is happening. The announcement came out that treasury is going to be a lot of issuance at the long end of the curve. Longer bonds are selling off. The two year bond is rallying. You have this steepening for the yield curve, which is healthy. Some saying this issuance toward the long end is to steepen the yield curve, normalize it, so to speak. This steepening yield curve could create some of the stock we are seeing for stocks the chop we are seeing for stocks. That a steepening yield curve after uninversion last year we did have a brief after an inversion last year, we did have a brief inversion. Theres more issuance at the long end of the cur
Good thursday morning. Welcome to squawk alley. Im Carl Quintanilla with jon fortt at post nine of the new york stock exchange. Morgan brennan with us from hq were going to continue to bring you nonstop market coverage from separate locations for a while as we reduce travel for employees as a precaution due to the spread of the virus. For the markets volatile this morning where we will start. Major averages deep in the red, had a circuit breaker. The president did institute the 30day travel ban for europe excluding the uk in an effort to curb the spread of the virus ali and brian both here on set thank you for coming in. Good to see you. Brian, what do we say . We know youve liked opportunities in this market do you still think theyre here . Its an honor to be here today on days like this, and when youre a strategist and portfolio manager, because we do both, we are defaulting to terms of i call it the three ps of investment management, perspective, poise and process okay the perspecti
Extraordinary, we will have the latest. Life disrupted as schools and businesses close around the world. Sandbergcoo sheryl joins us live. This, as facebook shares plunge. Thet, to our top story, markets going deeper into the red over fears that the economic fallout over coronavirus will be more prolonged and painful that we all expected. President trump say life could be disrupted well into the summer. The s p sinking 12 . The dow falling to its lowest in two years despite the Federal Reserve cutting rates to zero. For more, i want to get to Romaine Bostick. So much red everywhere. Break it down for us. Romaine you talk about response with regard to the monetary policy. What you have today is a market that has basically figured out that what is ailing the u. S. And Global Economy will not be solved through monetary measures alone. The dow and s p 500 had their worst single day percentage drop since black monday in 1987. You look at the nasdaq and small caps, worst days on a percentage
Its a good discussion for you guys to pick up. Be well, thank you very much. Welcome, everybody, to an important show tonight im Brian Sullivan the Virus Outbreak rattling nerves thats a live look outside thes that zach. Normally at is this time, times square would be packed with tourists, theater goers, commuters right now it is eerily quiet. The president saying the virus could stick around until late summer the impact being felt from main street to wall street. The dow ending the day down roughly 13 . An incredible 3,000 point drop by far, the biggest point drop ever apple down 12 microsoft lost 14 today every s p 500 sector finished deep in the red, perhaps the most incredible move of all, bogue down 23 pshs, to 129. Boeing was a nearly 400 stock just a few months ago. The selloff comes despite unprecedented action for the Federal Reserve, which did little to ease peoples concerns we have full Team Coverage for you tonight. Lets kick things off with bob pisani, who again is on the