We are answering your questions about the crisis from Small Business owners to individual investors, tweet me at cb payne, all that and more on making money. Charles stocks are down as effort to combat coronavirus taking a serious toll on our economy. I mean, losing 701,000 jobs in march, thats the worst monthly lost since 2007. The market held up better in recent weeks, but few folks believe that the worse is over. Get this, there have been 20 s p bear market rallies of 15 or more. How do we know if a bottom has been reached if any of the moves are higher temporarily and do we go back down. I will bring rob luna alicia levin. Alicia, let me start with you. This week i will figure out what the market did monday through friday for the last 3 weeks, i would argue they are probably up but the friday sessions have been reminders of just how dangerous this territory is and how much of the unknown is out there. How are you assessing it all . Alicia right, i think we can call coronavirus frid
Continues on a global scale. A worldwide their market, the 11 year bull run here is over. The dow is heading to the 22,000 level. A month ago it was 29,000. It is the fastest selloff in history. The s p will hit bear market territory at the open today, down 20 from the february high, the same story with the nasdaq. More money is still moving into safe treasury securities pushing the yield down to 0. 69 as of right now. The latest news on the virus brings its impact home to all of us. Sport dramatically affected. The nba has suspended the season indefinitely. A few days ago they banned reporters from locker rooms. Now the whole sport is shutdown. The Seattle Mariners will not be playing any home games. The early baseball season is in question. There will be an announcement later on the nhl. Social distancing is apparent across the country. You can see it and businesses are feeling it. Theres a long list of conference and meeting cancellations that is barely hurting airlines, hotels and
Parts here today. Some are literal. The princess cruise ship is one. Theyre watching throughout the day as it makes its way to the port of oakland. It is supposed to dock around 3 00 this afternoon. Well talk about that, oil off the bat with our buddy phil flynn out in chicago, price futures group, senior strategist at cme. We talked about it last week, phil. You and i were going back and forth about russia and saudi arabia. Now we have the true price war breaking out that has consequences in places like texas and north dakota. Take us through what youre thinking about today . What im thinking about is were learning today, not always is a low price for oil good for everything. There is concerns for banks, oil producers, the general overall market. Having said that, there is some hope, you know, right now with the talks of stimulus. Maybe we can pull off the lows right now. There are old saying in the business low prices cure low prices but this breakup of opec and russia, this opec plu
Over the arrest and attainment of political opponents in venezuela. Speaking from geneva, he said one lawmaker and his assistant have been detained since the end , without the detention being known. Her office also documented recent attacks on clinical opposition, demonstrators, and journalists. The Venezuelan National security president juan guaido was backed by 60 nations who recognized him as the interim president since early last year. The Opposition Leader claimed president ial power, claiming Nicolas Maduro was elected in a fraudulent vote. The top u. S. Commander for the middle east is painting a grim picture for the Peace Process with the taliban in afghanistan. The general told the House Armed Services committee today that the current level of attacks is higher than what is allowed in the peace plan signed last month , and that he has no confidence the group will honor its commitments. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700
A lifeline for sears that may be too little, too late. And the wait is over for baby yoda fans everywhere it is friday, february 21, 2020. Worldwide exchange begins right now. Good morning. Happy friday welcome to the show. Here is how stock futures are setting up their friday today. You can see here, stock futures indicating 140point drop for the average. S p open down about 17 points. The nasdaq is off by about 75. This is after a wild ride that had the dowdown about 350 points you can see there in that time lapse, a huge volatile trade in yesterdays session. In the bond market, 10year benchmark below the 1. 5 mark. 1. 48 there. Twoyear at 1. 37 . Treasuries a key focus as people buy up the safety of u. S. Government bonds lets send it over to Joumanna Bercetche in london with an update of what is happening around the world good morning. The handover from wall street has been interesting we are seeing a little green here shanghai composite up. The tech sector slightly better up 1. 1