Hackett. On the barrons round table, ben leveson, jack howe. Ben, we saw stunningly horrible economic numbers last week, really unbelievable, but the market actually was higher on the week. What is happening . Yeah. I mean, this data was just terrible. Retail sale, industrial production, empire state manufacturing, you name it, it was probably the worst ever on record. Unemployment, the jobless claims continued to rise another 5 Million People lost their jobs. I mean, its just bad. But we knew it was going to be bad, and theres also two rays of hope out there. One was a new set of treatments that gilead is working on for covid actually might be work. We dont have all the data on it yet, but that provided a boost for stocks x. Then theres talk of reopening the economy, and thats also helped too because it signals perhaps there is a light at the end of this tunnel. Jg jon so, jack howe, i know youre looking at valuations, and as ben pointed out, there is light at the end of the tunnel, b
Erasing much of the job gains over the past decade. Retail sales plunged to a new low in march as businesses continue to shutter due to this shutdown and stay at home order. The housing sector took another severe hit as Housing Starts and home builder confidence saw dramatic slumps. But while the white house is discussing guidelines to reopen the country as the data shows the pandemic is peaking, how long will it take to recover our economic luster . Joining us to talk about that and investing today in the broader markets during the shutdown is managing partner of the bonnson group, david bonnson. Great to have you this weekend, thanks so much for joining us. Good to be with you, maria. Maria so let me get your reaction to what we heard this week. The president came out with guidelines to reopen the economy in three stages. That certainly sparked a rally in stocks when he first started talking about it. Is this realistic . Do you think that the economy gets back to where it was, and wh
Over the past decade. Retail sales plunged to a new low in march as businesses continue to shutter due to this shutdown and stay at home order. The housing sector took another severe hit as Housing Starts and home builder confidence saw dramatic slumps. But while the white house is discussing guidelines to reopen the country as the data shows the pandemic is peaking, how long will it take to recover our economic luster . Joining us to talk about that and investing today in the broader markets during the shutdown is managing partner of the bonnson group, david bonnson. Great to have you this weekend, thanks so much for joining us. Good to be with you, maria. Maria so let me get your reaction to what we heard this week. The president came out with guidelines to reopen the economy in three stages. That certainly sparked a rally in stocks when he first started talking about it. Is this realistic . Do you think that the economy gets back to where it was, and whats your reaction to now this
It is only the Dow Jones Industrial average right now that is lower today. We had a raft of earnings and a huge amount of Economic Data, very poor Economic Data. In the s p 500, it is some of the banks dragging it lower, but the dows worst performer right now is boeing, which is down 5 . Exxon mobil in there as well, and then j. P. Morgan chase. We had earnings from Morgan Stanley this morning. It has been a little all over the place, but down 1 now. The 10 year yield at 60 basis points after we got another whopping claims number, which we were expecting, but nevertheless is a shock to the system when you see it actually come out. Crude oil back above 20 a 0. 33. Just up about the u. S. Government said it was mulling paying drillers to keep oil in the ground. The vix just above 41. Guy a lot of oil. Lets check in with the bloomberg first word news. Here with the details, ritika gupta. Ritika the coronavirus outbreak has now effectively erased at decade of job creation. More than 5 mill
About 6. 6 million filed for unemployment in the past week. So 10 million who have gone into this even though it doesnt have the most recent week will watch to see how this turns out. Crude oil prices after the biggest hike after one day after maybe 26 after news that joe kernen reported here after the president said what he was going to be doing absolutely changed not only the oil market yesterday but the entire equity market as well yes like i said. You suspend disbelieve of everything at this point dont we came in, talked to him he tweeted exactly what he said. It was vintage trump expects, hopes while i certainly hope so, i expect what has been confirmed bio peck is while they are saying at least 6 million in their meeting. The president said as much as 15 maybe they are talking about overall. Opec . Yes opec the market didnt really back off yesterday after the president was racing eyebrows maybe prematurely announcing or hoping for a deal or massage people into a deal didnt back o