Because there is some, not a lot but some cautious optimism starting to trickle out around both the markets because they ended their day and they ended their week higher as well. Perhaps some hope on the horizon about america getting healthy and getting working again. But tim seymour with 22 million filing for jobless benefits in just the last three weeks wiping out a decade of job gains, no doubt some very hard Economic Times for millions of people still to come. Is there really any good reason for markets to be rising like they have been i think its a liquidity squeeze. Its been a skepticism trade that has squeezed markets higher it has been a combination of the Federal Reserve expanding its Balance Sheet to 6. 1 trillion. Its been all of this well ahead of the recession frankly its been a dynamic where i think the positioning of markets allowed markets to push on higher it doesnt change from where we are but obviously we started all this on covid19 as weve gotten more clarity on cov
Stabilize and support the financial system, support and rescue. Its moving quickly. On the ground, it is grim. 22 states have deployed the national guard. The virus is now infected all 50 states and d. C. And this is a first, kansas closes all schools for the rest of the school year. Its beginning to sink in that many of us will be confined to our homes for weeks and millions will not be getting a paycheck. You are waking up to an anxious america. Theres an eerie feeling when you see empty cities, shuttered businesses and a country thats really grinding to a halt. Now the markets. Limit down before the opening bell. We might be 5 or 6 down in early trading. Remember, if the s p goes down 7 trading is halted for 15 minutes. We have already seen that twice. The dow, s p, nasdaq limit down, big red arrows right there. Look at this. The yield on the tenyear treasury is now 1. 12 . So money is coming out, repeat, out of treasuries. Why is that . In part because some investors have to cover
Coronavirus fearing weighs on the market, surpassing 100,000 worldwide. We are expecting a briefing from Vice President mike pence a bit hear this evening. Though that survey was conducted in the middle of february before the outbreak took hold in the u. S. In just a few moments well talk about russ cost rich he says the u. S. Consumer remains strong and where he is putting to work now. Dan, what are you doing . Not a whole heck of a lot week on week, there was a bit of optimism. As investors star thinking about how to allocate towards equities visibility will be the big point. I think i dont think were going to get that anytime soon right now. That was the low for this move you had a strong reversal off of that we set ourselves up for a powerful rally, but most of that snsht has dissipated, so some say you will have to retest the low, and were doing it right now on a relatively tenuous way, so i still think, given the stress in credit markets, stocks are not yet convincingly saying we
Is when Prime Minister netanyahu faces a challenge up to the leadership of the party after failing to form a government. Lets talk about trade and not the usual tensions between the u. S. And china. There is escalation cost true trade wars two trade wars. Move is cutting tariffs, a partly aimed at expanding imports. The news comes as beijing and washington work to finalize the signing of the first phase of the trade deal next month. Japan and south korea agree to negotiate on export controls. President moon jaein and Prime Minister shinzo abe will meet for bilateral talks i tuesday, tomorrow. Joining us to discuss in more detail, bloombergs executive editor for Greater China john liu. Why is china cutting tariffs now . Remind us the process involved. John some of the products include pork, which is important to china. There has been a shortage domestically and we are coming up on chinese new year, peak season for me demand. Getting imports will be very helpful for president xi jinping
Thanksa list yesterday to amazon packages. Yesterday was a key point for the nasdaq at 9000 word we also have a record high. 9000. We also have a record high with apple. A good litmus test when it comes to risk. Ecb Commission President that they may be having to have an extension for the transition. Itiing up, we speak to the c chief u. S. Economist and get his outlook for 2020. Lets get straight to first word news in new york city. Israel wheren Benjamin Netanyahu fought off challenges to his leadership. He won a landslide in the race to lead his party. He will lead it into israels third election. It comes amidst an election scandal for the Prime Minister. He has recently been indicted on charges of bribery and fraud. The transition for the u. K. s exit may need to be extended, according to ursula von the lion. According to ursula. She says the plan to secure a trade deal by the end of 2020 is optimistic. And a false alarm japans estate broadcaster, who mistakenly issued at alert say