Record highs that has the nasdaq setting a record as well better than expected home sales in the u. S strong activity numbers out of europe as well uk, australia to name but a few. Were up, sarah, nearly 1 on the s p 500. Ahead on todays show, a big first on cnbc interview with howard marks fresh off his latest memo. He said the odds are not in investors favor and whether he sees any opportunities right now in the market plushgs connecticut has certainly seen an encouraging dropoff in coronavirus numbers of late. Well ask governor lamont about his advice for states like florida, arizona and texas that are seeing their cases swell and how hes trying to keep those cases out of his state lets focus in on the big stories were watching mike santoli tracking todays rally. Meg terrell has the highlights from Anthony Faucis congressional testimony and phil lebeau is covering another volatile session with the Airlines Start us off with the Broader Market on the three month anniversary of the ma
Global recession since world war ii. Senate democrats with a Sweeping Police Reform bill. Manus 6 00 a. M. In london, 9 00 a. M. In dubai. I have two pieces of paper, one is the dollar destruction story, is the bondte one vigilante trade it was not really a bear market, but what i like is he says the market selloff was a panic attack. I want to tell you i have had more panic attacks since 2009. I think they are inextricably linked. Nejra it is always great to kick off the show with an update on how many panic attacks you have. I love the daily comments, he has coined another acronym, mother of all meltups. To classify what happened in the selloff is a bear market is if we are talking about a bear market, you might expect more losses to come. If you see this as a panic attack, you could have faith in further games. Erase see the s p 500 yearly losses. We are seeing green on the screen in asia for several days in a row, but weakness in u. S. Futures. What a stunning move, 45 rally from t
This is march data, so it doesnt take account the real slow down. Just the very beginnings of it. We are not seeing much of an impact on equity indices, but we were already lower. Tons hit by pause but amazon and apple. We also had oil Company Earnings that were week. Then we have President Trump ratcheting up tensions with china once again. Crude oil was above 20 a barrel a few minutes ago, down to 19. 30 there. Is definitelyuan we getting on those comments from President Trump. The dollar trading at 7. 13 right now. Down nearly 6 . Vincent there are all kinds of guy there are all kinds of quirks in the ism number and how it is calculated. It is may 1. That means most of europe is closed today. Most major markets are shut for the day. The ftse 100 has its own calendar, and it is open. It is down by around 2 . Down 5 , 6 over the last couple of sessions. Highlighted a couple of the big stories driving that. The pound is softer by 0. 6 . The aussie market overnight taking comments from
Lower, carnival down another 26 . Oday as well the 10 year yield at 61 basis points, and tmobile finally completed its merger with sprint in spite ofout. 4 the losses. Lets check in on the bloomberg first word news. Heres mark crumpton. The United Nations General Assembly is considering how to response to the coronavirus pandemic. Not as have been sent to resolutions for consideration. The most widely backed one provides for International Cooperation by sharing information. The other calls for abandoning trade wars and implementing protectionist measures. Because the global body is not holding meetings, the resolution is defeated even if one country objects. Drugs for malaria and certain autoimmune diseases are now on the food and drug administrations shortage list, meaning some patients who take those medications for rheumatoid arthritis, lupus, and other disorders cannot fill their prescriptions. The man served after doctors overseas said they saw signs of the drug could be used to t
Up for today. Were going to look at all of todays market moving news from new york and london. We want to begin in washington were the Trump Administration stoc struck a deal on a rescue package. Mitch mcconnell says it is an historic plan. At last, we have a deal. After days of intense discussions, the senate has reached a bipartisan agreement on an historic relief package. It will rush resources onto the front lines of our Nations Health care fight and will inject trillions of dollars of cash into the economy as fast as possible to help american workers, families, Small Businesses and interested and industries make it through this. Alix joining me is kevin cirilli. Walk me through what is in the bill and what to expect. The deal will likely pass within the next 48 hours. They are bullish to get this done. 500 billion for Large Companies as well as corporations bailout cash for industries that have been impacted by the economic effects of coronavirus. 350 billion for Small Businesses.