Dow surging 461 points, s p gaining 1. 21 , nasdaq advancing 1. 31 . The s p up for 2020 now including a 47. 5 gain from the march lows im repeating that, a 47. 5 gain from the march lows. All of the airlines, arent that he mazing . They wont quit. Some goes for the cruise lines, the hotels earnings who needs earnings bother me later. The casinos are on fire. Who can resist now that theyre open again oils warring. The price of crude up 75 from that bizarre bargain, take some will you, this is a vshaped recovery like this, and then theres boeing, up more than 150 from its lows in march. 12 move today the biggest winner of the dow and best month ever can you imagine, humor me for a second, could you imagine if they got some orders it all makes sense even if this run all the recovery stocks are low, so theyre off the highs, and thats why its easy to see why theyre so irresistible since we have no faces here. Buy, buy, buy and any earnings can spoil the party but there are none that said,
Economy and hong kong a top of the agenda and an appetite for business our vendors at malaysias ramadan bazaars are finding new opportunities despite coronavirus long time restrictions. I am. A new standoff is brewing between the United States iran and venezuela over a shipment of millions of dollars of fuel 5 Iranian Oil Tankers are just days away from arriving in venezuela to help ease petrol shortages that his way his own Oil Refining Industry has collapsed because of sanctions as well as mismanagement alexey obrien reports. In the venezuelan capital caracas the queue at the petrol station can last for days. This is the richest country in the world and we should not be like this because there is wealth there is oil there is everything the shortages have plagued venezuela for years ever since its 1300000 barrel a day refining network collapsed which critics blame on underinvestment and mismanagement by the state oil company now president Nicolas Maduro has turned to iran for help for
To beat this disease maybe it even needs a bear market which is where we are today and the dow plunged and s p and nasdaq nose dived 4. 7 coron as coronavirus is a Public Health crisis wreaking havoc all over the country and it hasnt effected that many people yet but we know it will. And we thought we could keep it out and then thought it could be contained and then as it kept spreading we were told there was no big deal. Theres so few cases and so few why all the fuss and we discovered the Term Community spread we heard about the outbreak in Washington State and then the suburbs of new york and then the fiasco it dawned on us when they say novel as novel coronavirus, novel means we have no immunity to it. We have no vaccine if you dont, try not to get it. We have no tamiflu once you get it were all against this unseen nightmare. Novel, steven king novel all right. Were cancelling big Public Events what happens next. The two ways to do this, two ways to play it, pile on once again and
Continues now today was day one of the shelterinplace order in 6 counties in the bay area and late today, Sonoma County announced that its order will kick in starting at midnight tonight. This has nearly all bay area counties are reporting new cases of the virus in total there are nearly 300 bay area confirmed cases today Santa Clara County reported a new coronavirus related death now bringing the total there to 5 deaths at the Nations Capital President Trump is proposing new aid for the American People one plan is to send checks to americans during this pandemic that proposal is called the payroll tax holiday. No amount has yet been disclosed snow or has a timetable for when the plan. My began and the Federal Reserve launched a program today to help boost to the economy in the face of the epidemic. The of the pandemic it is a 2008 era program which and phrases a critical borrowing market, the commercial paper market as its called it gives american businesses access to shortterm credit
Who isnt . Who needs a miracle . Thats what it comes down to in the age of the coronavirus including today where the dow rebounded 1,167 points the s p surged 4. 9 . And the nasdaq pulled up 4. 95 based on the hope that federal government stimulus could offset the sudden slowdown were getting in the economy and beat the demand shock caused by the coronavirus. So how do you pick among the rubble now that were bouncing too you think the stimulus may be too little, too late . Which is the judgment i have heard all day. Some people are skeptical. First for all intents and purposes, the market is not working. Thats all you can say well, how about that these violent swings, what are they a sign of they are a sign of sickness. Its unhealthy they tell us people are scared and theyre far too few players, too many investors, too many guys with machine guns for stocks to be able to handle the impact of that fear. It doesnt help the tail wagging the dog. The market just cant handle all this algori