Coming up. Pay day for elon musk days after he stated his opinion. Tuesday may 5, you are watching Worldwide Exchange. Good morning, good afternoon, good evening and welcome i am Brian Sullivan. Thank you for joining us on this tuesday, may 5 down one, up the next. Maybe down the next. The market weve been living in looks to continue today as well. When we came in or started since many of us are still at home, futures are posting a solid gain of about 350point jump at the open as you know, it is a very volatile market at this hour big moves tend to happen quickly. Dow futures are still up only about 40 points. No real reason for wild swings more u. S. States continue to try to reopen their economies in the days and weeks ahead new york state is the latest to say its lockdown measures could begin to lift as early as may 15, albeit in certain parts of the state. Not new york city most likely and with very heavy restrictions getting back to business some what and trying to help crude oil
It will restart production of the 737 max in may we will have more on that decision in just a moment. Stocks are higher in the face of thousands of new cases of coronavirus a day here in the United States. We are now approaching 60,000 total in the United States, but there may be some good news coming from italy and china and we will explain it but first, lets go to Kayla Tausche with the latest out of d. C. , as Congress Tries to put the finishing touches on the details of this massive stimulus deal hi, kayla. Reporter hi, tyler and we are expecting a vote at some point today, but now three republican senators are calling for some edits to be made to the nearly final draft legislative language that was circulated early this morning senators tim scott from south carolina, ben sasse from nebraska, and lindsey graham, also from south carolina, saying that there is a massive drafting error that incentivizes people to seek unemployment bonuses rather than working in jobs where they would w
I will use another strong word. Panic. That is justified. Late yesterday, panicked investors drove the dow down 1191 points. Thats the biggest oneday point loss ever. Okay, thats the backdrop. Now todays reality. The dow at one stage early this morning, futures were down over 600 points. Right now we are down over 400 points. The s p down 50. The nasdaq composite, way down, another 2 lower, off 166 points. Today on this show, we will ask when do we get a rebound . Where are the bargains that longterm investors might go for . Now look at this. This, what you are seeing, is a worldwide rush to put money into ultrasafe u. S. Treasuries. The yield now, 1. 19 . At one stage earlier it was 1. 16 , an historic low. That is a classic flight to safety. Heres what happens when the Global Demand for oil falls out of bed. Sharply lower prices. At this moment, we have got, what, about i think its 45 per barr barrel. That is on the price of oil. Thats the latest on the market action. Now the latest
On fast money we try to make sense of what is going on and more importantly, what you should be doing about it your traders on the desk on this very important night are steve grasso, brian kelly, Karen Finerman and brian adomy let get right to it. Todays market plunge, taking the s p 500 negative for the year all of the gains, theyre gone energy, tech, consumer leading the selloff what are you doing with your money following a day like today guy adami, if anything because somebody a lot of somebodies, were selling i think you have to understand and we talk about this, markets go down a lot faster than they go up i dont think today is all that surprising in the context of what we have been seeing over the last couple of weeks and past couple months to answer your question, what do you do you have to sosht of draw your line in the stand. As much as we the root for selloffs to buy things cheaper, when they come, they never feel the way you want them to feel. Thalz seem scarier try to take
Longtermtors a probably just happy to move on. It was the second worst month of the year for the markets. Volatility came roaring back. Trade tensions and recession signals from the bond market headline the period, and after four weeks of big ups and downs, inblstors today were to catch their breath a bit as we head into thehe holiday weekend. He dow rose 41 points today to ose at 26,403. The nasdaq was down 10. For the month, all of the major averages were lower. L what w september bring . Mike santoli starts us off tonight from the new york stock exchange. Ug the month oft has lived up to its reputation for volatility, and now comes september, which has similarly tended to be a challenging month over the 90 years september has been the weakest month for stock market turns, but the s p 500 down slightly more than half of all years and the average return from all years a negative 1 . This certainly implies seasonal portions present a headwind for a market that pulled back from the late