Suffering a record drop. Earning season is in full swing. Pharmaceutical giant merck topping estimates but cutting its guidance as the coronavirus pushes the rest of its portfolio to the sideline. The ceo ken frazier will join us for an exclusive interview in just a few moments kelly. Looking forward to that. Health care and tech are two of the stock sectors leading stocks lower today. Lets get to bob with a lot more for us just the fact were up three points on the s p is remarkable. This is the second day in a row this has happened. I cant remember when but were down 1 or 2 on all the big names. Microsoft and apple, google and amazon look at all those stocks down. The s p is still up 3 the reason were up is because banks and industrials have helped out today look at these industrials. 3m is seeing growth in some of the safety the blue angels just flew over theres a big roar outside pepsi, xerox, u. P. S. , Harley Davidson withdrawing guidance. Here is a list of the companies withdrawi
Clawed back, closed up 26. S p 500 up 12. Nasdaq gaining one. 25 on the day or 105 points. Lets go back to the dow. Industrials, boeing, raytheon. Some worst performers and the ramped up trade tensions with china. The white house blames beijing on the coronavirus. Legendary investor Warren Buffett dumping his entire stake. Barclays downgrading american and delta on debt concerns. Look, Raymond James came out and thinks demand may have bottomed. Is this a bottom for the Airline Stocks today . Big tech also saw a comeback after the losses last week. Apple is updating math book pro. How about m a . Merger monday. Intel buying Transportation Technology company move it, all green on this board today. Energy was also a winning sector. Oil back with a 20dollar handle. It is up four days in a row right now. Exxon, valero, others rallying bigtime today. Production cuts, opec plus, plus some other cuts here in the u. S. With those shelled off wells taking 13 to 15 million perils per day off the
All the major f. A. N. G. Companies. They are set to release their numbers and guidance. Thank you for joining us im Brian Sullivan lets talk more about your market setup you have dow futures indicating a gain of about 100 plus points at the upside. 200, as a matter of fact, stock futures are well in the green despite the fact that oil has come down significantly. The price of oil down again right now. Remember, we are in that june contract it is off about 13 this morning, down to under 15 and change so, watch oil. There is a story in the oil patch to Pay Attention to as well that is Diamond Offshore Diamond Offshore, a major oildrilling contractor, obviously like the name immris, off the coast. An offshore company has, indeed, filed for chapter 11 bankruptcy protection the Company Simply not able to meet its obligations so Diamond Offshore has filed for bankruptcy protection. Keep an eye there on that story as well. Also you want to watch the stock of loews, ticker l, not the Home Imp
Julia . Thats right. Disney cfo christine mckarther announced disney will be sustaining the dividend which will preserve 1. 6 billion in cash and this comes as the Company Announces that covid19 cost disney 1. 4 billion to its bottom line in the quarter and that includes a hit to advertising, movie delays and think, most of all, the closure of disneys parks. The disney parks alone had an operating income loss of 1 billion in the quarter due to covid driving a 58 drop in operating income now heres what the new ceo says about the plan that he Just Announced to reopen disney shanghai on may 11th take a listen. The approach we take may include implementation of density control measures as well as health and prevention procedures that comply with state and federal guidelines we are seeing encouraging signs of a gradual return for some semblance of normalcy in china the company talking about how before it began to close its domestic parks in midmarch they had been seeing an increase in both
And amazon facing new pressures over protecting warehouse workers still on the job servicing all of us amid the outbreak apple making a muchneeded donations to epicenter of this countrys outbreak this is thursday, april 2, 2020. You are watching cnbc. Good morning. Lets get right to the markets stock futures you can see are green indicating a rise of about 341 for the dow, s p up by 35 and the nasdaq is implied up around 100 points. It would be good but for the fact that we saw some steep losses yesterday to begin the Second Quarter all three major indices down nearly 4. 5 with losses accelerating before the closing bell take a look at the bond market we are seeing some move in today as well. A hair below 6. 1 . Twoyear below 0. 234 . Turning now to oil, a huge move higher a surge. Wti up 9 . Ice brent up 9 as well. This is after President Trump said he expected saudi and russia to enter agreement soon they called for a challenging issue for the oil markets. Getting to the markets worl