Gone red as weve gotten more guidance on Net Interest Income on the conference calls. Yeah. Absolutely the banks are in focus as this first day of earning season in earnest really kicks off one of the names im actually focused on that reported this morning is fastenal, distributors, thats what they make and they provide those distributors to quite a variety of industrial excuse me industries and end markets, early indicator of the state of the industrial economy, youre seeing those shares pop today in part because at a time where so Many Companies are cutting their dividends they actually raised their dividend and they noted that theyre seeing product produced significant shifts in business mix and that march sales of the fastener products declined 10 on a daily basis as industrial activity slowed but their safety business grew 31 as they were sourcing and delivering critical ppe supplies to the marketplace why do i bring this up this is essentially what were seeing and i have a feelin
This of course, the saudis are flooding the world with oil right now. The russians, its not clear where the heck they are because theyre very secretive, but i know who is not there, the drivers. Theres very little demand david and i talk about this with you all the time, carl theres this overall sense, you know what, if we just get things moving, things will come back again. We need customers. We need customers to get their hair cut, to go to the dry cleaner, the restaurants, and we need customers on the road without them, i really dont care what president calls who, you need a tariff to keep the to keep the saudi oil from coming here, and you need the chinese to restockpile, and frankly, thats still not going to be enough to be able to make it so oil real demand goes higher good point yeah. Sorry, carl. 6 Million Barrels a day, jim, is what im hearing right now as we still try to adjust. Even know we know each others cadences so well 6 Million Barrels a day here and its not just not j
As the curfew came into force more than 30 cities across the country are affected. China has recorded an uptick in imported infections of coronavirus now africans living there say theyre being a victim and harassed on the streets as chinese officials accuse them of spreading the virus. Im Claire Richardson welcome to the show we begin here in germany where the federal president will shortly speak to the german people in a rare televised address Frank Walter Steinmeier will urge the country to show solidarity against the coronavirus pandemic and while many germans are off work for the long easter weekend he will ask them to do their part and stay at home we can now listen it to an excerpt of that prerecorded speech. Now it is a pond immuno this pandemic is not a war. Nations do not stand against other nations soldiers against soldiers rather this is a test of our humanity it is bringing out both the best and the worst in people and let us show each other the best in us and let us show t
S p is down 76. We are watching all of these markets. A few things are going on right now. Investors werent impressed by the feds vow to buy an unlimited amount of Government Debt and give loans to businesses, big and small. Theres one industry that Coronavirus Crisis is impacting directly, restaurants. They are closing their doors to patrons, trying to shift to takeout only. We s ghave got the owner of a gp of restaurants who will tell us, he will say this, the restaurant recession has already started, already in effect. We know folks are out of work but how bad is it . We will find out. Theres also sharks in the water, there always are. Investors are not just looking for an edge in the selloff but advising businesses in how to survive the crisis. Weve got one of the best in this. Hes an investor, an entrepreneur, founder of fubu and the star of shark tank, daymond john will join us to give us his perspective in all of this and oh, yeah, we are going to check in on liz claman as she b
And up to 200,000 deaths. The president listening to his medical advisers and he has adjusted policy. The social distancing rules will be extended until april 30th. Therefore, the shutdown of the economy will continue well beyond easter. The president says the recovery will start by june 1st. On the markets, expect continued volatility. We have certainly seen that already today. At one point early this morning, futures showed a loss of a couple hundred points. Now we are looking at a gain at the opening bell of a couple hundred points. That would be almost 1 . A similar gain, better gain, actually, for the nasdaq, up about 1. 25 and the s p also up over 1 . A rally at the opening bell. Investors seem to like the idea of more pain now so we get out of it faster. The other big financial story is the price of oil. This is apart from the virus. This is the price of oil. Look at it. Its down to 20 a barrel. Earlier it hit 19. 20. 48 is the price right now. The saudis have declared war on Am