Im Andrew Ross Sorkin with joe kernen and melissa lee becky is off again we are about 111 points up now s p 500 looking to open about 11 points higher. Flip is around and show you we are at. 952. Still under the six handle i always wonder what the bond vigilantes are thinking now relative to our little equity world. Worth noting we are still 3 well away from the february record highs some highlights. The ceo of Tractor Supply, auto nation venture capitalist, treasury secretary mnuchin, house leader and twitter ceo. A huge lineup straight ahead thats a big show yeah. You guys always have a big show but this is particularly large. For you because you are here people said, melissa will be on book her i think they wanted to do it for you but i think they were scared if they didnt do it of me thats the feeling they got they didnt want to disappoint you. I doubt it thats nice to say but i doubt it im not a scarey person. Im not. Maybe to you nows this morning out of washington. Reaching Comm
Business lending facilities to keep credit flowing as u. S. Job losses surge past 30 million. Shery lets get started with a quick check of the markets. We are seeing pressure on u. S. Futures, falling more than a percent at the moment, after the s p 500 fell from the sevenweek high. But yes, it was the best month since 1987. We saw the s p 500 climbing 13 this month. We have more pessimism about the economy today. We had dismal jobless claims data. Slowing down but elevated. We have positive sentiment being filtered through with the fed expanding the scope of the main Street Lending program. Also, the nasdaq was helped by results from microsoft, facebook, and tesla. When it comes to wti, we continue to see extended gains. It is trading near 19 per barrel. This, as we saw signs of fuel consumption start to recover in the u. S. We have a few markets that are closed across asia. China,cludes hong kong, singapore, india, and many more. Limited trading in the asian session. Haidi yeah. Shar
And the estimated number of deaths we will get ism today. Adp is out several european banks are spending dividends jim, how much of this mornings action does reflect the grim picture that the white house set forth yesterday . Its difficult to imagine how, lets say, optimistic people were versus what the president said last night. I think many people in the stock market understood that the numbers were completely understated. You did leave the office saying, wow, that could be just terrible because they didnt caveat it as much as you might have thought they didnt say, all right, but were doing great in this state, this state, this state they said look, this is the reality. I think the reality rolls back some of the 19. 9 gain we had last week in the s p then whats going to roll back the rest is if we have credit problems ill defer to david. David knows behind the scene what day it is today today is the day youre supposed to pay your rent david, a lot of people wont make those payments,
Did we get hammered today . Because investors are finally starting to realize that the coronavirus is a very Destructive Force for economies. Dow plunges 228 points s p plummeted. Nasdaq, 1. 79 . As profit takers came out in forces, especially in big tech, recognizing the chinese economys going to go maybe offline. And going offline cant be good news for the United States the 30year treasury, well, it fell to record lows. That worries me. Yes, thats got to be a dangerous signal and not just a windfall for home buyers, right . All the action seems to el us the bad news out of china is finally translating into bad news almost a total delayed reaction. Should have been a week ago. Because our economy remains deeply intertwined with theirs so many of our companies rely on chinese suppliers for everything from trim, like in clothing, to buttons, essential medications, components, all sorts of technologies were really much more intertwined than people realize. I think were right to be worrie
Day of november on the backs of home depot and kohls, both tumbling after cutting outlooks and comps forecast. The record rally for stocks, it rolls on. Futures as you saw pointing to renewed all time highs at the open and vaping crackdown. California suing juul for marketing to teens new york set to make a socalled major announcement of their own later today. Well start with retail, though, home depot shares down on the premarket, earnings did beat but sales missed and company cuts the full year outlook saying integration is not delivering as quickly as they thought. Kohls tumbling on weaker guidance i was curious to hear you say a moment ago that lowes is getting to be the better buy because well see that print tomorrow. Yes i have to tell you, i think Marvin Ellison energized the place. One thing that happened was that lowes fell behind home depot technologically. They didnt have the systems that is no longer the case as Marvin Ellison rolls out technology at every single lowes, and