Attention on the show. The fact that the concentration of cases, still seems to be overwhelmingly in the new york city metropolitan area. That includes all five boroughs. Outside the Greater New York city area. Now that is not necessarily a shock. What tends to be here is the idea that when it comes to the number of new cases and the deaths it is about two out of three in both cases that come from the new york city metropolitan area. Why would i mention that . Because on the 15th of this month were going to see the state ease up on some of the stay at home provisions but that will be largely in upstate new york. So we are telegraphing from what he is saying, this is me making that leap, it certainly doesnt look like it would happen in the new york city area, particularly the concentration of these cases remains in the new york city area. Another footnote on these reports here, most have been at home. Most of these cases, indeed most of the deaths, they are older, they are more likely t
Loans, slash grants, becoming available right now, to the tune of close to 35, 40 billion thus farce. Conservative estimates. Maybe as high as 75 billion by the end of day. That is buoying the s p 500. The dow is 19 off its bear market low reached a little more than three weeks ago. A similar situation for the s p 500. Now, about 16 or so away from those lows. Whether that holds is anyones guess. But a lot amid talk as well well get more stimulus here or relief, whatever you want to call it. That it could rival the price of last and most recent relief package north of 2. 2 trillion, hard to say. Blake burman has been looking at all of that. Blake . Reporter hi, there, neil, hard to say indeed. Here is what i am seeing speaking to Senior Administration last night, there has not been sizable movement the last couple days next potential steps coming in terms of economic relief. I am told there are some ideas that they are kick around within the white house as of if that does happen, what
We have fox Business Team coverage. Phil flynn is at the cme. Edward lawrence is on capitol hill, blake burman is live at the white house but first, lets go to Kristina Partsinevelos on the floor of the new york stock exchange. Do we have kristina . Kristina Circuit Breaker halted all markets for 15 minutes. The new york fed came out injecting 1. 5 trillion today and tomorrow in the repurchasing market. A lot of movement. Yet we still finished the day down, almost 10 lower at the dow, 2321 points. S p almost 10 as well. 9. 5 lower. Same thing for the nasdaq. Complete negative territory. You guys talked about it, this is a historical day, the biggest drop since the crash in 1987. I was only two years old at that point. Look at dow losers for the day. The dow has been down the entire day. Boeing, boeing taking a major beating. The stock was halted earlier today. Walt disney on there, ibm, american express. I want to switch over to travel stocks weve been paying attention to today, more s
Goldman sachs restricting travel from south korea, northern italy. The president from india, looking much more reassuring tone than he is hearing elsewhere. Take a look. Looks like h theyre getting it under control, more and more under control. I think that is a problem that will go away. We lost almost 1000 points yesterday on the market. That is something, things like that happen. You have it in your business all the time. Had nothing to do with you. It is an outside source that nobody would have ever predicted. Neil continuing today. That disturbs a lot of market technicians who generally like to see a rebound after 1000 point hit. Just because were under water on some averages over the year, theyre up appreciably over the past year. Deirdre bolton what is driving the latest followup selloff from the New York Stock Exchange. At least if you judge by the sectors putting the most weight on the markets it seems to be the coronaviruss potential effect on the Global Economy. That is real
Points. We thought it would be a huge bounceback day, it might be, you never know but another point as the intraday of the dow we actually went negative. Were back up 120. Up and down we go. Deirdre bolton trying to keep track of it all. Joins us from the new york stock exchange. Like im on a ham sister wheel, connell. We had 950 point gain. When Vp Mike Pence said essentially every american will be covered for coronavirus testing. You saw, that, that is where viewers can see a little bit after green, kind of blip up on the dow. Were still nowhere near where we were at the highs of the session. Let me tell you what is moving markets at least by group. The groups that are supporting whatever rallies you are seeing. You have info tech. You have Financial Companies and industrials. Now on the other side with really weighing on the market, utilities, Consumer Staples and energy which is a little bit interesting, because out of the gate this morning, connell, energy, they were the superstar