Marketsal rallied hard this week. After the fed came out with a stimulus plan to back up the government. The dow and nasdaq were up more than 10 for the week while the s p saw its best week since 1974. But are these bailouts enough to get the economy back up and running, and could a rocky earnings season spook investors . Joining me now to discuss this and more from santa fe, Thornburg Investment president and ceo jason brady. Jason, good to see you. Thanks for joining us. Its a real pleasure. Thanks for having me. David the administration is already looking ahead about how to fire up the economy once we emerge from our shelters. How precisely do they do it, who makes it and who does it as we try to fire up this economy again . You know, its a great question, and Vice President pence is obviously leading that effort. Looking at the commentary there, it seems to be driven by health officialses and their determination, obviously, those are the experts. When i think about that and startin
You used the nword. If this tape wasnt leaked, do you think youd be using that word today . But the scandal that could have broken him actually redefined him. I made a whole switch from, you know, being negative that is id work hard. Im in check with myself. Im happy, brother. Harvey hulk hogan, a life of the highest highs and the lowest lows. Oh, my gosh. It is so good to see you. Hey, my brother. Usually i see you in golds gym. Thats true, in los angeles. Well, were far, far away. Have a seat. Well, thank you for coming. So, um, i want to spend some time going through your life. But i want to do it with things you chose to keep over the years that are important to you and help define who you are. So im looking at that. What is it . My dad worked construction his whole life. Right. He dug ditches. He put the big storm drainage in the roads. This was in florida. And when i was about five or six years old, my memory is having this little gas truck. It was pink. harvey why save that .
Last weeks big rally with saudi arabia and russia feud over cuts the oil market taking a hit today. We do have full Team Coverage of these markets for you. Bob and rick covering the action in stocks and bonds. Steve on the latest economic fall out from the virus. Bob, well kick it off with you and this rally that just keeps building it started early on we got right up great overseas numbers. When Governor Cuomo started talking a couple of hours ago, we moved up on his comments on hopes for plateau. The market took it positively. I want to point out that we are, i call it markets in the middle. Were now 20 off of the lows from the february 19th high, were now down 22 remember at one time we were down 35 a bull market to bear market to i dont know how to characterize characterizeize this morning were 20 off the lows the most beaten up are rallying the most retailers they are a big today wayfair up best day since march 26th for the banks. Here are some of the regional banks. Sta stap stap
Announced that the spread of the virus might be reaching an apex, and were getting close to that flattening of the curve. Positive messages about the outbreak were welcome news on wall street, helping to send stocks soaring on monday, and by wednesday the s p 500ed had joined the dow in exiting the bear market it fell into on march 12th. Its now up 25 from its low point just a little more than two weeks ago. More gains came as the fed stepped up its efforts. Meanwhile, the irs was moving to send direct payments to individuals, and billions of federal dollars to help Small Businesses stay afloat were being sent to banks for loans that could eventually be forgiven although problems caused a bottleneck in getting the cash out. Still, the grim news about the economy continues unabated as another 6. 6 million filed firsttime jobless claims this week. Meanwhile, theres a growing push by the president and others to start allowing businesses that have been shut down because of the coronavirus
Virus could soon peak in new york city. Weve already seen the apex in madrid italy is clearly over the hump that means buy storks. Cover your shorts. The bull is backs todays run d 1627 points marking its best day in two weeks s p soaring 7. 03 . Nasdaq 7. 3 . Can it really be this easy or does this represent too much optimism i think its a bit of the latter wall street is a group of index buyers and traders when we care about the new number of coronavirus cases, number of hospitalizations and mortality rate index buying was so intense it moved stocks like they were play things now, does that mean we should buy the nasdaq when we have more ventilators, sell it if we dont have enough personal protective equipment . Do we buy the s p retail etf when we get a decent number from, i dont know, Governor Cuomo . No, its kind of ridiculous. Were simply seeing, though, the flip side of what happens when people were downbeat as they were last week when the president s team told us some pretty ho