It brings unemployment claims down to 22 million in the past four weeks and that essentially wipes out all the jobs created sin the financial crisis we know the dapta was going to be bad and will continue to be bad because this is reflecting periods that arent april, and we know april will be even worse. Right these are daunting historic we look at them, we must think about what was happening, say, in 1930, 1931. We realize that the system may hold, may not hold i think were in a stronger position than then because they didnt have a social safety net, but these kinds of layoffs, theyre extraordinary. And we are at a loss for words for them obviously, all these people are now in some way or another getting compensated this week. But i think its not enough, and i keep thinking that the longer we dont have and its not opening or closing america the longer we dont have faith in being with each other, youre going to have to keep seeing these numbers. I have to tell you, i was hoping i never
In times of crisis, and with the dow plummeting another 1338 points, s p plunging 5. 8 and nasdaq down 7. 0 were in a doozie of a crisis you simply could not do enough to help make things better our government should always error on the side of doing too much in these situations because you dont beat a pandemic by thinking small not unless you get very, very lucky. So far we weve been about as unlucky as it gets everything is going wrong at once in terms of being constructive let me tell you what i think needs to happen to stop the tsunami of selling in your stocks in your portfolio when i say we need to think big, i mean huge, it was terrific to see a bill pass the senate with massive bipartisan supreme copo that help the cause. The government has said that bars and restaurants should close down payrolls a payrolls hotels, airlines 59 billion, all jobs are in danger and many are already gone we need to write checks directly to the workers we cant afford to tear the fabric of society b
Done b. K. , sit tight for one second obviously its 6 00 eastern time most of our audience is tuning in for jim cramer and mad money. Jim and mad will come up they will begin at bottom of the hour 6 30 eastern time for jim and mad money. A big lineup including the c. E. O. S of teledoc and ventas. We are expecting or were expecting this White House Press conference, which could begin at any moment for those of you tuning in who tune in, love jim, love to watch mad, but its 6 30 eastern time b. K. , thank you for that pause wanted to make sure our viewers understood why we are still on and not jim. What do you want to see the market the next couple sessions that might confirm some of the things youre talking about . Yeah, so, what im really looking for is how the equity markets react to this stimulus bill it looked like today when were getting close to a vote, the equity market tried to rally then the vote failed equity markets sold off. To me thats the real key here we have a couple pi
These are the markets, not as sharp as the selloff is yesterday, but markets seem on hooks accounting for new cases coronavirus, and what happens to quarantines and isolations, and what happens to the economy. European stoxx 600 flat. Fell 6 if not more, now down 0. 3 . The u. S. 10 year yield, a good litmus test when looking at risk, s p futures up, they were lower a short while ago. At 10652. Lets get to the first word news. We begin with u. K. Prime minister Boris Johnson facing complaints of bad faith ahead of talks with the eu. Both sides are accusing the other of backing away from past promises. Johnson says it will take priority over a trade deal. Bernie sanders and Michael Bloomberg has escalated, mr. Bloomberg criticizing bernie control record, and sanders suggesting bloomberg could not win a debate against donald trump. Sanders is favored where bloomberg will be on the ballot for the first time. Michael bloomberg is the owner and founder of the Parent Company of bloomberg new
Indicated up about 40 points yesterday, we did see compressed yields higher prices for treasuries 10year at 1. 36 the twoyear at 1. 7 in japan, the nikkei falling over 300 points. The bond market won, so we are going to have our friend on today. He always says it is going to be because of slowing growth. He seems to get a little bit serandipitus about it. Ill give him credit. The slowing growth caused whatever caused the slowing growth gold is up. Stock market ignores things until it doesnt hope depot might help. Stock called sharply higher after reporting better than expected results i got a 242 bid, 242. 50 bid now. Right . 228 is 18 cents above estimates. Whatyou are seeing there does not reflect what we are seeing samestore sales up 5. 2 , which is strong. Consensus is at 4. 8 home depot announced a 10 increase to 1. 50 a share you can figure out the yield will double every seven years. Joining us with immediate reaction, the bottom line beat is big the samestore number is better.