Im becky quick along with joe kerr de kernen and Andrew Ross Sorkin. After two days of optimism, the get out there again trade was on turned around a little bit yesterday. We did see people rushing back to the stayathome stocks as covid cases and momentization hs continue to climb. And some states are imposing restrictions and the nasdaq ended up 2 after being down monday and tuesday. Yesterday the dow ended flat, right now indicated down by about 115. Never made to the record, still waiting circumstanling around tt s p 500 down by 2. 5 and nasdaq indicated up another 51 points this morning these were the stay at home stocks, amazon up, apple up 3 , zoom which had gotten hammered, yesterday up by almost 10 took c docusign 5. 2 and netflix 2. 2 and treasury yields, yesterday it was closed for veterans day this morning it is open and you can see the ten year still around the very heightened levels, again, not historically, but based on what weve seen in recent history within range of 1 a
Swapping out pfizer for amgen. Raytheon youll hear later today. The largest oil and gas company with one software play dropping a respected drug company for a descent biotech . Kicking a defense contractor to the curb for an industrial if it makes you scratch your head, youre not alone these changes had enormous impact the dow dipping 60 points and the s p dipped and nasdaq gained 6. 7 in all honesty, these moves made a lot of sense they bring the dow closer to the reality of the new cone economyt the memory of the old. Before i delve into each trade, there is an aspect of the dow like the king to the s p 500 Prime Minister same t simultaneously more prestigious. Only included the dow because i had old investors regarded as the most important benchmark we live in the efts of trillions of dollars and whatever name gets swapped in, there is a gigantic wave of buying and selling. The dow has little money invested in etfs its a big deal if you work for them because this is an exclusive clu
Cases there will be more joyful these people were years that actually calling now as you know john the nation words youve got to be warriors week. We cant keep our country close down. And we have to do something. The president went on to say this pandemic is worse than both the attack on pearl harbor and the attack on the World Trade Center in new york. If we tested every single american in this country at this moment, we have to retest them an hour later and then an hour later after that because at any moment you could theoretically contract this virus. So the notion that Everyone Needs to be tested is just im simply nonsensical. The notion of testing has long been an issue during this pandemic doctor Anthony Fauci has said that testing is important an important factor when considering reopening the country to its fullest today. The new White House Press secretary Kayleigh Mcenany clarified who President Trump believes should be tested. More than 57 need to be tested are vulnerable po
Worst. Yep. Talking about the coronavirus. Which the needs now tells us cannot be contained. And thats really why the dow plunged another 879 points today. S p 3. 3 , and the nasdaq 2. 7 on top of yesterdays hideous losses the dow has now lost 1,911 points in a row. Thats a decline of 6. two days now, you dont need me to tell you that this is serious stuff, especially if the director of the National Center for immunization and respiratory diseases told us this afternoon to now expectist significant disruption in our lives. Instantly that became conventional wisdom, thats the reason we told off so hard of course it is more complicated than that, right the stock market is following the much larger fixed income market where buying yields are currently hitting record lows. All sorts of maturities. The ten year is at 135 . The stocks got crushed the market is screaming that this pandemic will cause dramatic decline in Economic Activity both here and around the world. When the bond market sp
Im Maryam Namazie in london with the top stories from europe including the rich and powerful begin to descend on dallas for the World Economic forum and the Climate Crisis is top of the agenda and ive had a similar dispute over the concerns its rain which hampers the opening day of the Australian Open for the court under the roof to framing. The lights the crow. Thank you very much for joining us 2 iraqi protesters have been killed in baghdad where Security Forces used tear gas and live ammunition another has died in the central city of karbala further south demonstrators try to cut off the main highway to the oil rich province of basra well be live to baghdad in just a moment but 1st this report from a man caught. In one of the main squares in central Baghdad Police and protesters confront each other it again in the early hours of monday as protesters tried to block the road leading to the square they want a change of government and accuse the current one of corruption a cool had gone