I turn to you first, laura set the scene first. How does the market look to you . What are you focusing on its really, really an interesting time in the markets right now. You have this dichotomy where were seeing some strength in the markets. I think were a little off today but youre seeing some read through or look through in the market to say, hey, were going to see optimism on the other side however the economy hasnt quite caught up yet to the markets i think we are going to need and we need to focus on making sure that the legislature realized we still need stimulus, we need the consumer thats twothirds of this economy back in full swing. Not getting it. Not right now what does that mean if i tell you were not getting it, were not getting it any time soon. Soon is relative as well, right . Theres a lot of levers that can be pulled here i think that were getting things together and, you know, i wish we could get it during december at some point youre right, it does not look like it
Its been a wide range today. Former citigroup ceo sandy weill will join us to discuss the water shed moment at his former company which just became the first major u. S. Bank to appoint a female ceo plus, well speak with jason robins from draftkings ahead of tonights nfl kickoff. And we are counting you down to some exciting earnings after the bell today including peloton, oracle, and chewy. Two out of three are big stay at home winners plus an interview with chewys ceo as soon as the numbers hit the tape lets get straight to the market in the final hour of trade another volatile session on wall street mike santoli tracking the action for us what caused the weakness here in the last few momentors so . That morning rally was really limp it did not pass any of the tests. It stopped where yesterdays highs were nobody had any faith this was really going to be upside momentum then you had a rally in the treasury market. Yields got compressed a little bit. And the dollar is also been higher
The dow gaining 188 points, nasdaq surging 2. 3 . This is an important snap back because it gives us a glimpse into the future. Lets start with the set up. If you listen to the wise men of the hedge fund energy, theyre telling you believers will be crushed. They loved the market a month ago. Many of their fears are legitimate they have trillions of dollars in debt. The Oil Companies alone owe hundreds of billions of dollars. They cant pay it back in crude. Airline is toast supply chain could cost 60 billion. The hedge funds i listen to, well, theyre warning of 25 unemployment thanks to the government mandated lockdown. Thats not a great recession, thats Great Depression with a c. You cant have a Restaurant Industry if youre an allowed to go to restaurants. Hotels sold to you malls, malls are bowling alleys. Actual bowling alleys, baby boomer storage lockers arcane dollar trades, ooh, really scary, devastating. And as Small Business finished time to break out the apple stands and the sa
Courscourse jim cramer right now the stock market and the bond market are like two heavy weight champions duking it out. And todays stocks had a very good round dow surging 1,173 points, the s p 500 skyrocketing, the nasdaq soaring 3. 85 . Hallelujah. Who are these two boxers . In one corner you had a stock market that had gotten viciously oversold thanks to the coronavirus outbreak and wall streets existential fear of a Bernie Sanders presidency. In the other corner, well, youve got the bond market specifically u. S. Treasuries every time they go up in price, we go down in yield. Lately their yields have been plummeting sending chill through the spine of all investors who follow both markets. Now this is a vicious and i will tell you somewhat scary for us, but bond yields so frightening low theyve been decking the much smaller stock market, as surely as muhammad ali sent so many challengers to the canvas the bond markets still screaming that were not out of the woods, that were being
Daybreak asia. Thisr top stories wednesday, new questions about President Trumps many deal that says chinas higher purchases of agricultural goods depend on a reduction in u. S. Tariffs. The imf cuts its outlook for the fourth straight time. And sterling reaches a new high on high optimism about a new brexit deal. Shery breaking news out of south korea. The jobless rate ticked up to 3. 4 in september. The estimate was to gain from 3. 1 , so the Unemployment Rate higher than expected. We have seen weakness in the private sector, south korea very exposed to trade tensions and slowing global demand, although we have seen passage of that extra budget in august, which could provide support for labor markets, but so far september unemployment at three point 4 . Australian markets just open. Lets turn to sophie. Sophie. Sophie sherri, shares in sydney are breaking ground, advancing fifth straight day, in tokyo the nikkei 225 open. It fresh 2019 high with valuations below the fiveyear average.