Mark zuckerberg and Sheryl Sandberg. Thirdparty seller prior thirdparty sellers on amazon are jacking up prices. What they are doing to crackdown on illegal price gouging. But first, thousands of passengers waiting in isolation in a cruise ship off of San Francisco and waiting for the results of coronavirus test. Hastime, the city of boston canceled southwest by southwest. The markets have regrouped. Rally ands it curious left higher after dominating the fear of the spreading of the coronavirus. To give us a better picture, were joined by michael regan. Why the surprise turnaround . Is indicative of what we have seen in that wild springs for the upside and downside. We often see unexplainable moves both higher and lower. It is interesting that tech as did theeek higher s p 500. There is some soulless to take but monday isnd, another day and it is not going to be too surprising to see next week. What is the message that investors are taking away from this . I think there is a lot of ino
Been seen in a long time. Our question for you this morning do you have money in the stock market . Are you buying or selling . Does the coronavirus have you worried about your Retirement Funds . We are opening up special lines. If you have money in the stock market and youre concerned about the coronavirus, or not, if you have money in the stock market we want to hear from you. T 202 7488000 if you do not have money in the stock market but still worried about the economic situation, or maybe not, maybe you have your money somewhere safe. We want to hear from you at 202 7488001. You can always text us your and we at 202 7488003 are always reading on social facebook. Witter and the New York Times has a story on the front page that deals directly with this issue and we are going to read a little bit. There is nothing investors hate more about uncertainty. That is all there is. Uncertainty about the severity and duration of the coronavirus epic ripping around the world. Uncertainty about
The Airline Industry is clearly suffering. People are afraid to fly. We know there is going to be damage to the prophets of airlines, cruise ships, that sort of thing, hotels. But it gets further than that, jesse, because oil prices have crashed with the stock markets. Mobil and chevron are struggling. One of the most alarming things going on in the markets if you were to guess what was the hardest hit sector over the duration of this, you might be surprised to hear it is the banks. Everyonen for that is is getting out of the stock market, buying treasuries, and that reduces Interest Rates sharply. It is less profitable for banks to loan. They worry about the loans the banks already have in the market. If you are worried about the credit quality of Companies Going forward, especially the ones hardest hit like the energy companies, travel companies, it is easy to see how the damage being done from this and more to come trickles its way through different sectors. It all goes back to the
Been seeing a lot of industrials, energy companies, airlines, travel Companies Taking the brunt of the selling. Now it has spread to the leaders. 4 , then a little under worst day since october 28. I think that is one powell said neutral. All down more than 4 , basically the big laggards today. That is what you get. Scarlet the dow and s p negative on the year. Nasdaq Still Holding onto a gain of 2. 8 . Lets check in with our market reporters to say what they were monitoring. Abigail, get us started. Abigail i am thinking about the selloff we had on this day and putting it into the context of a chart we have looked at frequently, because it feels like it is from out of nowhere, but many the surface there have been indications we could see this action. This chart goes back to the beginning of the coronavirus outbreak as we were reporting on it. A little more than a month ago. In yellow is crude oil and copper is in pink. Both of those commodities down about 10 . At the lowest crude oil
Lets dive deeper, get a read of stories beneath numbers without reporters. Abigail scarlett, talking about the boy start to the year. The nasdaq up for a fifth week in a row. The top sector for the s p 500 technology up. Pretty incredible, last year having its best year since 2009. That is the degree of eying interest we saw in 2019. It is continuing. He also have Communication Services with some of those Communication Companies along with big internet names and then health care. The top sectors this week up more than 1 . Tech really leading the charge. At this point there may be reason to think that tech could cool off a bit. This is a one year chart. We see that the tech sector clearly going in the right direction. The tech sector in white. That the tech sector has been well above that 200 day moving average, rising. The tech sector is 16 above that 200 day moving average. The most at any point over the last year. A series of lower highs, all of this may suggest that we could see a l