Is david asman. Joining me on the panel gary, zachary liz. Attended christine on the Stock Exchange. Was it the Oil Price Crash that set this all . Reporter several factors, one has to revolve not necessarily the virus itself but the panic around the virus as well as oil, it is so difficult to price and the Economic Impact and what the virus is going to do to companies acrosstheboard which is why you sell the selloff today and we have a Circuit Breaker halt all markets when we saw it fall down 7 . That helped liquidity but using acrosstheboard everything over 7 lower for the day. Oil hitting a low we have not seen since 1991 and that really did hurt shale producers across the country across the globe and it shifted investors to move their money into safer bet like ten year treasury bond and thirtyyear treasury bonds. We saw the ten year drop to 31 basis points, that is 0. 319. Not even percentages anymore. And the same thing for the 30 year yield, it fell below 1 . These are numbers we
Seeing. Sarah you look at equities in japan right now. The nikkei 225 of more than five percent, trading below 20,000 for the first time in over a year. What is already been very rough price action is only getting worse as time goes on. You look at s p 500 futures trading at the 5 limit from the friday reference price. 28. 1 nine. At futures continue to trade. They just cannot jump although it or fall below it. That is the first time we have seen a limit down since donald trump did win the presidency in 2016. The asx having its worst day since 2008. Msi market watch, the asiapacific region is having its worst day since june of 2016. What is really pulling lower is the energy stuck. Off by 8 . That is the worst day since 2008. It is your upstream energy companies. Your producers that are weighing. The worst day since 1988. Also some of your worst performers coming out of hong kong. The legs of oil fields having its worst day ever, off 15 anything. Energy related really all 15 . Anything
Meaning less demand for oil. Meanwhile similar story in bond market, yield on 10year treasury below 4 tenths of a percent overnight. Now we are staying right under and it is down 28 basis points. Again, another indication of a recession at hand. The 30year following 1 for the first time in history. The 30year bond, the yield there at. 883 . Thats down 40 basis points this morning. Global markets reacting to all of this this morning in the stock market. Deep selloff in europe. The cac quarante down 335 points. That is 6 and a half percent and dax index in germany lower by 672. Overnight in asia across the board. Chinese experts tumbled in the month of january, more signs of trouble in japan as well. First quarter gdp lower in japan showing the economy contracted 7. 1 from the previous quarter. Thats a sharp contraction in japan. This on top of the Coronavirus Crisis, cases in the United States and abroad are growing. The white house looking into emergency measures. Overseas italy report
Brands at morgan stanley. Plenty of good news stories in the market today. The 10 year yield is at 1. 84 . A couple of dynamics going on here, not least of which Stephen Mnuchin talking about issuing a 20 year bond to help with the deficit. Guy really interesting story. Here in europe, stocks are at record highs. , a couple of reasons for this, one of which is the china data we will talk about in just a moment. Your conversation with phil hogan, the eu trade commissioner, sounding reasonably positive overnight in the conversation you had with him. That has helped sentiment here as well. Really weak retail data out of the u. K. Today, confirming the idea we could see a bank of england rate cut shortly. The pound is trading lower on that. Weve also got key levels being tested and it comes to eurodollar as well. I am told you want to watch out 1. 1080, a really key line in the sand. 1. 1102 right now. Growth helped by industrial output, retail sales, and fixed investments, all beating est
Delivering the first model 3 made in china today. We take a look at the road ahead as it tries to charge into the future. Plus, serving up profits, find out what could be the top restaurant stock of 2020. Mornings with maria begins right now. Say, say, two thousand, year izero,zero, party, oops, out of. So tonight im going to party like its 1999. Lauren some prince this morning. Weve got a big show coming up this morning. Joining the conversation today, New York Posted tor post editd member, Richard Fowler and stephen moore. Great to all of you here. Happy almost 2020. Storely thifutures point to gais wall street gears up to finish 2019 with record highs. The dow up 6 points this morning, s p barely higher, nasdaq down just a point. The nasdaq ended the week last week with a slight loss. It did snap an 11 day winning streak. It is up almost 36 on the year. Steven, your reaction to this surge . Yes, this is the time of year when stocks go up, the meltup at the end of the year, but 36 ga