The state department advising u. S. Citizens not to travel internationally and return home. They raised the advisory level to four. Huwan which was ground zero reported its first day without a new case we have full Team Coverage for you here bob is tracking another wild session for stocks rick, is watching the bond market for us. Kayla has the very latest on the action this d. C. We start with you bob. An important thing here today is even though 50 point swing in the s p 500 would have been insane a month ago, its kind of normal now its lower volatility than what we have been seeing recently i think thats the key point about whats been happening. If you look at the leadership, its also different. For once were seeing, for example, bank stocks doing Better Energy stocks doing Better Technology doing a little bit better what has been the leadership or what has been going down has been held care, for example, Consumer Staples and they are lagging today. There is a an attempt to buy the m
What i think we ought to do as we go into the march meeting and, obviously, in subsequent meetings this year. Charles now, there has been some intriguing action despite what you see in the overall market. Hardhit stocks finding buyers as the coronavirus stocks are actually giving up gains. And then, of course, mixed signals from the socalled safe havennings. Also the crisis deepens around the world, the number just keeps getting higher and higher, the number of countries with confirmed cases topping 50 and that includes mexico. However, the global rates for a vaccine is offering greater hope, and in the Business World we have amazon thats asking all of its employees to defer nonessential travel including in the United States, and just moments ago that google is banning employees from traveling to south korea or japan after one of their employees in zurich reportedly tested positive. Back here at home, california has become the epicenter of the virus with more than half of the confirmed
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
Paying Capital Management president paint right joins me now. Brian hopefully you have all the answers. A lot of investors are worried about the records have being markets having where they get invested. Luckily i do have all the answers. In the first thing you look at a statistically you have a big year in the market, its an up year. The following year is an up year the following year is usually 11 . So based on history momentum should go pick up and move into this years well. Trade tensions were huge issue in 2019. Moving forward that has become less of a worry for investors. But when you take up a table completely . You can hear a lot about phase ii this year. So that we something that the strategist will warn you thats a big deal. I think the fact that weve gotten through stage one already thats a big deal. Across the pond you have brexit that looks to be some clarity around that. Reading geopolitical issues are a lot more clear this year which is an abode very well for the market.
Paying Capital Management president paint right joins me now. Brian hopefully you have all the answers. A lot of investors are worried about the records have being markets having where they get invested. Luckily i do have all the answers. In the first thing you look at a statistically you have a big year in the market, its an up year. The following year is an up year the following year is usually 11 . So based on history momentum should go pick up and move into this years well. Trade tensions were huge issue in 2019. Moving forward that has become less of a worry for investors. But when you take up a table completely . You can hear a lot about phase ii this year. So that we something that the strategist will warn you thats a big deal. I think the fact that weve gotten through stage one already thats a big deal. Across the pond you have brexit that looks to be some clarity around that. Reading geopolitical issues are a lot more clear this year which is an abode very well for the market.