Attorney, thats coming up so much on this show, stay tuned, for making money. Charles well stocks, the major indices are mixed, spinning the results up to most of the session but here is the deal all eyes really awaiting President Trump what is he going to say object our strained relationships with china, the tension is mounting, we are expecting to hear from him in fact at any moment the administration is criticizing beijings plans to impose a National Security law in hong kong and the president is not happy with china but is not certain if it will impact the trade deal and thats what wall street really wants to know is going to happen. Joining me how hud senior fellow chinese strategy director Michael Pillsbury youve been ahead of the curve on all of this. You kind of saw all of this evolving, because i guess its what china wants to do. They want to sort of dominate the world and nothing is stopping them but they actions seem to be more in your face. I think thats right, charles. I t
For a closer look at the economic fallout from the coronavirus situation. Steve is dig through that right now and wee chell check in wit. Kelly. As mentioned the nasdaq was heading back to its record high, but now its under pressure. Down about. 5 at last check. Bob. Its under pressure because the mega caps are finally underperforming, its about time in the is all part of that broad evening o broadenning out of the market. You can see it again today. Whats outperform something whats doing better . Stuff that wasnt doing well a month ago. Weve had double digit gains in some of these banks. Fifth third up 15 so far this week. All of them are up double digits. Look at the retailers, nobody cares about macys or nordstrom. A few people are trying to do something. Some of these stores are up double digits. Gap, kohls, all up in the is for the week overall. Same thing with industrials. These stocks were not market leaders a little while ago. American, theyve had a great week. Theyre all up do
And what hes going to do about it now. Our breaking news. President trumps personal l a has now tested positive for coronavirus the valley as a member of the military unit to sign. To serve the white house. And this now raises questions about the first familys exposure to the disease. A white house spokesperson says the president and Vice President have since been tested since learning this news and that they are both still negative. Lets go to kron fours will tran for the latest developments on this well what are we now. As far as the coronavirus and has done just incredible damage to businesses not just across the country but actually right here of course in the bay area stories like this one forced to shut down for 7 weeks because the shelter in place it was just simply too dangerous. According to the governor for them too. The operations 7 now area employers to loosen up the grip a little bit of shelter in place and well find out in detail and a couple of hours from now what he pla
Find a bid. We wait for more gloomy Economic Data at 8 30. Time now for our market moving news from our new york team. We are going to start with oil. The iea says the outlook for oil demand has improved somewhat, yet it sees crude production on track for historic decline this month, at the lowest level in nine months. Annmarie hordern joined me now for more. Annmarie this report is still bleak, but slowly but surely improving. They had to say is that outlook for the oil markets are improving somewhat. Amanda little stronger than what they were expecting, but really, the big take away from this report demand a little bit stronger than what they were expecting, but really, the big take away is that this month is on track for historic decline, the most in nine years. This week alone, we saw the kingdom, the uae, and kuwait deepen cuts for june. The same time, the iea is looking at producers outside the group like the united eights that are just being forced due to supply and demand the U
When we reopen, that is the time to stimulate. How do you see the policy effort changing in the months to come, adapting, larry . Larry i am not here to negotiate, but i will simply say this. Had a set ofmp has policies that worked very well before this pandemic. The first three years plus. Indeed, in january and february the economy was growing at 3 or better. I think that he wants to extend a lot of the ideas. He wants to be a Free Enterprise economy. He wants to reward people for their success and their initiative and their efforts. He has talked about from time to time, talked and tweeted about payroll tax holidays, he has talked about Capital Gains taxes. He has talked about tourism, restaurants, traveling deductions that might work. We have talked about capital and business expensing. There have been covid related adjustments, whether you are a large factory in detroit or a small town in the heartland a restaurant in the small town in the heartland. All of that, every nickel of t