Formally thats where they stop, unlike the oil futures hallelujah. And thats why we got hammered dow plunging 632 points. S p plummeting 8. 37 nasdaq nose diving 3. 48 the house of pain yesterdays futures in negative territory terrified people if you have to pay to get rid of a barrel of oil or a bank that lent to a bunch of oil companies, even though futures rebounded, oil is above zero the more representative june futures plunged to zero digits before rebounding to the teens in the afternoon its not a good sign in other words, today the real physical world of commodities interfered with the paper world of stocks. My cyclical side says we rally hard from the bottom for not much reason. Since the paends the dow crashed to 18,000, and back to 24,000. Dramatically oversold to dramatically overbought quickly. Maybe we got ahead of ourselves. Sure, it looks like we slowed the coronavirus. More on that tonight youre going to like it i think. Were still seeing thousands of deaths per day and
Bills. Tonight workers from all walks of life say they need more help. Another coronavirus clusters at a bay area nursing home. Now at 11 00, streaming on cbsn bay area, nearly the entire bay area is extending stayathome orders with the peak of the coronavirus outbreak expected in the coming weeks. Good evening im elizabeth cook. Im ken bastida. The extension will come with new stronger guidelines that are set to take effect at midnight. Now tonight snow ma county became the seventh in the bay area to extend their restrictions until at least may 3 leaving napa and solano as the only counties not to make a similar move. Critical businesses will need to develop a comprehensive plan for social distancing for customers and employees. And the list of businesses that qualify as essential has been adjusted. That change will bring most Construction Projects to the bay area to a grinding halt. The chance the virus may spread. A Record Number of californians have filed for unemployment and many
Cooperman taking on trump over the Federal Reserve in times of crisis Worldwide Exchange begins right now. Good morning and welcome to the show im dominic chu. Announcer to Brian Sullivan. With me the entire hour, peter bookfar wiright now stock futur indicate what could be a nice open to the upside, about 175 points within the last hour we were up 400 to 500 points implied. Well see if that moves. The Dow Jones Futures have been going from losses all the way to gains. At one point we had a range of 1100 its been a volatile, possibly preshadowing the market. Tenyear government yields we gone down to 1. 0 3 year, setting the record twoyear treasury notes, 1. 2 . The session low for americanbased crude is 43. You can see 45. 53 the last trade there. We have seen a bit of a downside move in the last hour or two lets watch whats happening a rebound in under way, in asia and europe as well as investors hope for action from global Central Banks around the coronavirus. Matt taylor is in singa
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
Economy, particularly those in the lower classes, take a listen the bottom 50 has increased their net worth by 47 , okay . Second. The top 1 has increased their network by 13 . Middle income people have retirement accounts and 401 k and they have had a fabulous period, actually its been a fabulous three years. David so jackie how could democrats say the economy and market rally is working for the upper class when the lower class did pretty well too . They have to try to debunk the theory because thats what this president is going to run on in 2020. If you take what larry kudlow said and you take that as fact and i have no reason not to, it shows you that this economy is working for everybody. Look you cant have an economy thats increasing 47 for the bottom 50 and the rich arent getting a little bit of the benefit from that too, as a matter of fact we need them to because they recycle more of their money into the system and that tip uses to stimulate growth, but this is not just about t