I showed them other articles too where governors, democrat governors are saying we have done a fantastic job Gavin Newsome said theres not a thing hes asked for that we werent able to get limb it was a positive statement. Many democrat governors have said the task force and the federal government, what we have done has been terrific [ inaudible question ] this was unexpected this came out of china and hit us and many other countries. You look at the numbers. I see numbers just by watching you folks. I see its over 100 different countries. It hit the world were prepared and doing a great job with it. It will go away. Just calm. We want to protect our shipping industry our cruise ships we want to protect our Airline Industry everybody has to be vigilant and careful. Be calm. Its really working out. A will the of good things will happen the consumer is ready. The consumer has never been in a better position than they are now. A will the of good things will happen thank you very much. The
Cut this month thanks. We are seeing a big bounce back. All angles are covered for you bob pisani, Rick Santelli in chicago seeing new lows on the ten year yield, meg has the latest on the coronavirus and Steve Liesman on whether the fed will come to the markets rescue here we begin with stocks and bob with the latest here kelly, were just off the highs. The question is, why theres two essential reasons. Number one, we have extreme oversold conditions. Well explain that in a minute and number two, we have hope for fiscal stimulus and coordinated monetary stimulus and theres indications those are coming together as well there you got your rally take a look when we say extreme oversold conditions. It shows you mouch much the market momentum is moouing below 30, thats oversold. You very rarely see this its screaming buy in a traditional way to look at the markets. Another extreme indicator, you have nyse, the volatility index. We were at 49. Thats almost four standard deviations away. We
Session, not necessarily getting worse. We want to go to global exchange. We are going to bring you todays market moving news from all around the world, from hong kong to riyadh and london, to new delhi, washington and new york. We want to begin with the markets, the overarching story of that russian to safety. Lowestfalling to the since 2016. Joining me is bloombergs dani burger. Walk us through some of the big ones. Dani today is really a day of superlatives. 2016,the lowest since gold jumping to a 2013 hi. 2013 high. As evercore strategists put this, we are in a new phase of the coronavirus outbreak. That is going to give us this kneejerk, gut punch reaction in market. Credit default swaps in europe jumping the most in two years. When you look at both of those see thestoxx 600, you ftse made down, and europe has become the epicenter of the outbreak. That means markets are already very sensitive. These are high beta markets as they stand because of the economic weakness. A lot of wha
Covid19 throws the banks. It will be harder to hit that in 2020 we see the beginning of a Global Economic impact. Wpp shares plunge after the british media group plunge from a sales slow down and warns that 2020 will be flat despite the Company Delivering a solid set of numbers cfo tells me they are monitoring the situation in china with coronavirus. We dont see a slow down. We see a postponing or delays. We dont see a slow down in growth in china compared to 2019 urs futures pointing to a sharp open a california resident has contracted covid but does not know how the patient constituted. This could be the first time persontoperson transmission occurred in united states. For the first time, more new cases were reported outside china than inside. Norway, pakistan, italy and koran. Croatia, spain and barach also reported new cases looking at the stoxx 600 essentially flat the main benchmark now 1. 8 lower. 2. 2 investors pairing back losses and introducing more stabilization. The number
Commercial free dan nathan tim seymour and. And the head of rbc capital markets. Let us recap how this incredible day played out the dow just had the biggest point drop in history. Falling 1190 points. A 4. 4 drop. The dow index has now lost 3,200 points in week alone its now down nearly 10 this year the s p meantime falling 4. 4 as well handing in the worst day since august of 2011 and this is the fastest correction, a 10 drop from highs in the entire history of the stock market lets focused on big names you know controlling the market, fangs tumbling as well and took the market with them you had apple down 6. 5 . Google 5. 5 and microsoft a 7 drop wow. As stocks sold off buyers they flooded into bonds the 10year yield at one point trading at 109. 24 ended at 1. 26. The lowest at any time in American History for the ten years. Bond traders expect a rate cut on march 18th. But there is chatter possibility of intrameeting cut between now and then all told, the fear on the street is very