Jon najarian, what do you tell people dont appreciate the number of cases there are going to be. Me what do you do with the up fear is also contagious. People are going to stop going 1,000, down 1,000, 92 bips on out. We are a Service Economy the ten year people have to go out. What are you supposed to do . I dont see any reason for if you are me or somebody optimism, the stock market has very, very shortterm you buy on completely underreacted. The disand sell on the rallies from a wellknown hedge fund if you are a regular investor at manager, versus bellski and home that probably doesnt have as much access to information and the markets as frequently as dwyer who say we are going to be higher at year end i do, then i think you kind of sit it out, scott. Make sense of that for people . You hold onto what you have got. It is impossible to make sense of it, because we are if you have got the sort of stocks that you know are not as talking about an outcome that no one knows the answer to.
Do you want to go through the data . Tom yeah, let me go through the data. The news is in conversations. Limit 12. 55 with a massive curve flattening, oil down at the bottom, speaking volumes. Next screen, please. The vix is a good litmus paper, not moving here with futures down, 40. 94. I am not sure what the implied 5. 0is, but im guessing will be a good place to start. That is the yen. What is absolutely telling, there is persistent yen strength through the japanese day and the london morning. The 30year bond. Third screen and i know francine has a more europecentered view. This is the chairman powell screen. What will they do before the market opens . This is what they are looking at. The twoyear yields from the u. S. , u. K. That is stunning on the United Kingdom, maybe near a negative yield in japan and down to germany as well. Francine . Francine first of all, we did have the iaea headlines crossing the terminal moments ago, oil demand dropping for the First Time Since 2009, whi
Risk to growth, goldman warning this morning that a further spreading of the virus or widespreading of it could completely wipe out corporate growth this year. On the sidelines why Toll Brothers ceo tells jim the next few weeks are critical for the Housing Market so the number to watch is going to be 361 today. If the dow falls by that amountiamount the blue chips will hit correction territory last night at the president s News Conference about containing the virus, eamon javers asked if Financial Markets are overreacting heres how the president responded. I think the Financial Markets are very upset when they look at the democrat candidates standing on that stage making fools out of themselves and they say if we ever have a president like this. Did it have to do with the coronavirus . I think it did, i think it did. But i think you can add quite a bit of selloff to what theyre seeing. How much of that explains today, jim i think that the most overshadowing thing is what happened right
Well get into that as well. Deirdre bolton has all the fast moving developments from the big board. Neil what a week, what a week indeed. This is the worst week for the dow weve seen since 2018. Just the volatility alone today. As we can see down 470 points. We were down more than 900 points earlier. I want to highlight quickly some of the stocks that are limiting the losses on the dow. You have two pharmaceuticals, not a huge surprise in the backdrop of these fears about the coronavirus spreading and one staple which also does sell face masks. Merck and pfizer, we know merck has had a long history of developing vaccines. So you do have the stock moving higher limiting some of the losses. Pfizer as well, and 3m which does make the face masks. If you look at some drags on the average, part. Reason today, why were seeing so much weight you have apple, microsoft, two Huge Tech Companies that both have exposure to china. Apple in 2019 got 17 of revenue from china, microsoft about 10 . Both
Its time to risk less and make more options action starts now. Lets get right to it its been a rocky road for the transports one of the worst weeks of the year falling 3 . City and correction territory and take a look at this weeks worst performers our chart master says this could be the beginning of a bigger breakdown ahead. Carter, take it away i mean, just that i mean, imagine a recovery in the market and yet transports down 3 . It says a lot about a lot of things lets look at a few charts a one decade chart doesnt tell you much most everything is up over the past decade but relative performance of the transports to the s p, we are basically, weve undone the entire thing. Were back to where we were in 09. That is the issue. That is the problem. And its just this persistent and chronic slide, even as the index itself has advanced. All right. Take a look at one or two thing it is. Another way to look at it, more immediate rather than a ratio chart is a comparative chart so over the pa