Are moving slowly. Were down 1. 5 on the s p with one, two, three four sectors down more than 3 as we stand. Coming up on todays show, a rare and exclusive interview with the apollo manager and ceo, leon black well get his tack on this volatile market. Plus the big push with air mark to support new York Health Care workers. Well also speak with germanys minister of health as that country grapples with when and how to reopen its economy. A a better performer in a relative sense with handling the virus to come European Countries and coup tris. Lets focus on the big stories bob is tracking the sell off meg has new details on the rush to find a treatment for the virus. Phil is watching the airlines. Brian sullivan covering the historic opec deal its lack of impact on oil prices so far bob. And a great rally of last week, 12 on the s p fizzled a little today, but no surprise. Let me just show you today so banks were going to get earnings tomorrow. No surprise ch banks usually wilt a little
Joining us for the entire hour is tobias levkovich. Welcome. Thank you is this just a bounce from oversold conditions or would you buy into the rally i think that it is more of a bounce off oversold conditions look, things like energy, financials, have come back we were so hammered in the last couple weeks the issue that you need to resolve is earnings. That will be the more problematic phenomenon and so do you feel good about what earnings could be i think that earnings are still too high for the balance of the year and beginning of next year. I think consensus numbers for next year for example are about 10 , probably should be more like 5, maybe 6. So that is the issue so doesnt feel so good the white house pushing the message that recession fears are overblown. President trump tweeting today, our economy is very strong decembspite the lack of vision the fed but democrats are trying to will the economy be bad for purposes of the 2020 election. Very slchish before our dollar is so str
Activity, a lot of speculation that has been going on. In the past few moments as we have been talking about, there was a report from cbc that disney and 21st century fox held talks for disney to take over some of foxs various networks. Not a fox news or business channel, but the Cable Networks like fx, for example the two sides. No longer in talks. We definitely saw some stock reaction. Disney spiking and coming back down, bouncing around as people try to figure out what to make of all of this. 21st century fox was actually trading at a 52week low, it had touched that around midday. It obviously turned a layup and is now trading higher at about 6 . Its not just the two individual stocks where we are seeing the reaction, we are seeing it among this Ripple Effect. There is a lot of turmoil within the cable industry, people cutting cords, the rise and surge of streaming services. Perhaps there will be some kind of consolidation. The other player we have to show strengthenedould a combine
Charts thats so disturbed. And i just sold amazon on the call. Mark, mark, we have a way better what i to trade amazon. Well break it down. The action begins right now. Lets get right to it. Crude comeback the commodity rallying 1 to 3 , having the best week since march. It left Energy Stocks in the dust, this leaves us to wonder could oil be a value trap . Mike, what do you say . Its a little of a rebound, but crude prices are obviously still exceptionally weak and you know we also one of the things we we heard a lot of people talking about this week as well are concerns about corporate debt level. This is an industry that has very high debt level. So that obviously is an area of concern. The recount did tick up as well. Domestic demand is not that great. Obviously, all of this rests highly on what opec ultimately is going to do. But our increase in production is probably enough to offset any of the cuts that they have been talking about recently. I mean, so its always about what is t
Well break it down. The action begins right now. Lets get right to it. Crude comeback the commodity rallying 1 to 3 , having the best week since march. It left Energy Stocks in the dust, this leaves us to wonder could oil be a value trap . Mike, what do you say . Its a little of a rebound, but crude prices are obviously still exceptionally weak and you know we also one of the things we we heard a lot of people talking about this week as well are concerns about corporate debt level. This is an industry that has very high debt level. So that obviously is an area of concern. The recount did tick up as well. Domestic demand is not that great. Obviously, all of this rests highly on what opec ultimately is going to do. But our increase in production is probably enough to offset any of the cuts that they have been talking about recently. I mean, so its always about what is the more important data point in terms of price action. We started out saying it rallied 3 . Is that more important or th