Yeah. No doubt hopefully they can get this stuff done between the congress and the senate and it will be a lot more to do its a good start but given the dislocation to the marketplace, hopefully we can get this thing done in washington and well be good backstops for the market. Does it take a significant amount of stress off of the credit markets, which i know youve been concerned about and you watch so closely well, i mean, it takes a certain amount off it doesnt theres still a lot of stress in a lot of different places it takes a little bit of the stress off you really need the washington package. A package in washington just a lot bigger what they were talking about doing, seven times bigger. If i got my numbers right off the top of my head just to help support corporate small business, et cetera, what were going to need support and buy secondary stuff in the marketplace. Some of the other things they started to do today, so that we can have the economy function the right way. How c
Im brian sullivan, if you are keeping track at home, were pretty sure youre at home heres a sobering stat on the selloff. The dow has fallen nearly 11,000 pointing since an all time high in mid february. Thats a nearly 40 drop the fastest in history investors continue to see their portfolios fall, while washington falls short stimulus still on hold were expecting a briefing on the coronavirus outbreak in about 30 minutes time. Were going to bring it to you live when it begins. Kayla has been tracking the stimulus situation all day long and is with us now on what happened what happened, what didnt happen. And what comes next. For a second time in two days, the vote to advance the stimulus package coming out of the republican side failed meeting are taking place in the wake of that with Steve Mnuchin meeting with chuck schumer, followed by a meeting with mitch mcconnell. Those two back to back meetings, an update on where things stand. A Senior Administration official tells me its unlike
Futures pointed to the loss of more than 400 points we saw oil rebound then finally, can you see the dow futures up treasury yields suddenly backing down a little after getting up 1. 2 on the 10year yesterday now getting to the latest. Yesterday, california issued a statewide order for california residents to stay home other states and cities are taking similar steps mack, is that coming here . We dont know at this point. Closing dinein restaurants, bars, clubs and gyms washington is working on programs to keep the economy afloat steve leaiesman is like the norh star hes here. Hes got the tie on. Eamon jafers no offense that you went tieless. You have some response on the fiscal stimulus as well. Maybe well get to talk about that great market timing of a couple of those senators too that is an important one. That really angers americans we had a couple of u. S. Senators exposed in the press yesterday for uncanny timing of selling stocks richard burr sold his stocks on february 13. Some
After the storm, global stocks stabilized after the worst selloff since the financial crisis. U. S. Equity futures rise. President trump says he will seek substantial relief for industries. Italy, though, in lockdown. A ban on travel and Assembly Goes nationwide. The who says the threat of a pandemic is very real. Crude gets back some of its losses after the biggest drop in three decades inspires decades. , after theaudi oil kingdom cut prices. Getting in there, looking at the cheap stuff. Do you see there anywhere else in the market . What does the gmm look like . Anna getting in and looking for the cheap stuff, emerging markets, rebounding rescan assets risk assets. Msci asian markets. In fx markets, the big move is around again. Gainrday, we saw the yen coming yesterday, we saw yen selling. The moves into havens yesterday a little overdone. Im seeing some kind of stabilization. How long will that last . We see yields going up a little bit. Some of that move into havens being unwound
Now. Maria we want to check Global Markets this morning, european indices all over the place this morning following the u. S. Central Bank Stimulus package. London shut down, some of the mass transit lines in an effort to contain virus. Ftse 100 is down 12 points right now. Dax index in germany right now up 21. In asia overnight it was red across the board. Take a look. Korea getting hard hit down better than 8 overnight in korea hitting levels not seen since 2009 even as coronavirus cases are dropping in korea. As you see the other majors are also weaker. Lets check the oil markets now. Seeing a rebound this morning after 18year low. As you see oil prices bouncing 250 a barrel at 22. 87 a barrel. Yield on the 10year treasury hovering above 1 . Yields are bouncing once again 1. 92 on 10year. Investors certainly gearing up for another wild day this morning in terms of volatility. Lets check futures. We are expecting another tripledigit decline. The nasdaq is down 35 and s p 500 weaker b