Utx and Speaker Pelosi we have oil ceos at the white house later this afternoon and a pivotal day as this sba loan program tries to get off the ground, just an incredibly monumental challenge for the banks, government and Small Businesses that will apply im hopeful i know theres a lot of Community Banks up and running to do it theyve started. There are a lot of some very interesting smaller online banks that are ready to go well hear from Brian Moynihan from bank of america about whether theyre ready to go. Its been hard to understand i know i had to hire someone to understand it. I think that a banker can make sense of it. Theres a lot of money coming to people it would be a huge mistake for someone with two employees, three employees, to not immediately go to the bank the money is there you have to get it theyre ready with the money thats what i think. David . You disagree yeah, im here. Im here, guys were trying to establish this rhythm as to who talks in what order i know. I know w
The economy, pretty much at a dead stop until may, maybe longer. The market is looking to the other side of the virus problem and surely welcomes more financial help. However, stocks are ending the worst month since 2008 and the dow will open lower this morning, off maybe 140 points. Similar story for the s p and for the nasdaq. A down opening bell today. The price of oil, well, that remains at depression levels. This morning we are in the low 20 per barrel and the average price of gasoline, you got to look at this, the National Average gas price has dropped below 2 a gallon. 1. 99, thats your number this morning. The price is dropping about two cents a day but so what . Demand has cratered, the roads are empty, and few people are taking advantage of dirtcheap gas. Now, this caused a stir yesterday. The u. S. Navy hospital ship arrived in new york and was greeted by crowds of onlookers. They were breaking social distancing rules. Those people who were holed up in their apartments and h
Scarlet i am looking at the advanced decline line. Volume also picked up quite a bit. Nasdaq, the s p, and the of at least 20 above the average we saw last week. The sense of optimism broadening here. Technology and utilities leading the way up. The laggards are energy have just which we discussed. Each up at least 4 , so when you. Ee laggards lets bring back our guest, michael shaoul. How do you think about inflation . Everyones mind is still on disinflation but with all this stimulus and Interest Rates at zero, there is a point where we need to worry about rising prices, no . Michael yes. If it happens, it will be caused by supply disruptions. I think there are sometimes you have to worry about that. Inflation,ply driven especially in agricultural prices, that is something to be legitimately concerned about. Cap the indexes. From is already suffering deflation caused by swine flu virus. I dont think we will have a replication of that but i think locally, Agricultural Supplies are pro
This virus feeling the Impact Retail giants, macys, gap and kohls announce mass layoffs for tens of thousands of workers while the Federal Reserve issues a dire influence warning, the outbreak could leave nearly 50 million americans out of work. All that plus, to the rescue. Were going to need new people to come in and take care of patients. I can do that, and i will. The brave volunteers leaving home and heading to the white hot center of the u. S. Outbreak to join the fight on the front lines. I just want a make a difference. How they are answering the call to action today tuesday, march 31st, 2020 announcer from nbc news, this is a special edition of today the coronavirus pandemic with Savannah Guthrie and hoda kotb live from studio 1a in rockefeller plaza. Studio 1a. This is studio 1a i havent been here in a while. I was going to say, so many things are not normal. And in this moment right now, as im looking at you, something final is its good to see your face, savannah. It feels g
Points, s p is now down 17, nasdaq is down by 18. A couple things going on. First and foremost, last day of the quarter. Just to give you a sense of whats going on with the markets, obviously the s p for the quarter down about 19 . Thats as we were going into today. The dow down about 22 as we were going into today. Now, if the dow closes at about 22 lower for the quarter, this is the whole First Quarter of the year, we havent seen that kind of low for the dow since 1987. The s p 500, again, down 19 and that would have been a level we had seen back in 2008. Theres a lot of things going on right now. Obviously we are looking at potentially an economic contraction, if you will. But some of you are saying this might not necessarily be permanent but its something certainly to watch. We are going to get the adp number tomorrow at 8 15 a. M. Eastern time. Lot of layoffs going on. Obviously we are going to keep pounding on investor psyche with all the industries furloughing workers during the