Drug that meant people werent dying of this. In the study, only two people died no placebo up against the remdesivir they were using these are early results but promising signs of hope. The dow futures indicated up by about 700 points if we continue like this, that would put the dow in positive t territory. S p indicated up about 75 points and the nasdaq indicated up by about 177. Lets look at the treasury market yesterday, those yields for the 10year were under a little pressure they had come back down even more we were talking about under 0. 7 looking now at the 10year treasury, you will see on this friday, last trading day of the week, the 10year is yielding 0. 64 . Looking at oil and the shut down of Oil Production and cuts of the number of barrels being produced a day around the globe, you did see prices come back down it is not enough to keep up with the dropping demand. Watching that too. This morning, wti is down to 18. 61 a barrel well be talking markets, potential medical bre
President. That was then. A lot of people think it is fundamentally different this time. All of this is really catalyst, via a virus. But again, one of the interesting things im also following is that we still have negative Interest Rates at the very, very front of the socalled yield curve. One month and threemonth bills are still in negative territory right now with the one month bill at negative. 117 , the three month bill at negative 0. 348 . I hate to add that. That is actually good news. People dont look at a prospect of negative rates as good news but what it means technically, when you give the bank your money, you have to pay them for a privilege. A lot of people look at that, say, what the i will take my chances in the stock market. At least with conservative investments and dividend yields north of 3 i could do better almost doing nothing. That is the view. It benefits stocks. The fact we think were over the worst of the potential Economic Impact of this. That might be premat
Stock higher from here the Investment Committee is ready to go. Halftime report starts right now. Great to have you u with us on this wednesday, the day before thanksgiving. Our Investment Committee, joe, jon, steve and jenny Stocks Holding steady, but enough for the dow, s p and nasdaq to hit new highs. The nasdaq trying for its 25th record close and its 11th this month alone. Tech, industrials, consumer staps, all hitting record levels we continue to buy into this rally, joe yes, we are in the middle of a melt up. Thats what with we can call this its being powered by significant dispersion on many sectors. Technology, health care, financials, so you can find opportunities in each of these sectors. Are we pulling forward some of the gains from 20 . B potentially, but thats not a concern we have now. We think a lot of it is predicated on the basis that the consumer is strong when you look at Balance Sheets and you think of governmental ambulance sheets, corporate. What better Balance S
S p is now down 2. 25 the nasdaq is off by 40 points that happened after news that we heard from beijing that well tell you about in a moment Interest Rates are a huge part of the market story. Yesterday we saw the inversion of the twoyear and the tenyear yield. So shortterm bonds are paying more than longterm bonds. Historically this is considered a recession warning sign check this out the 30year bond this morning is now yielding below 2 . This is the first time in history weve seen the 30year below 2 1. 99 . Tenyear is yielding 1. 557 . The twoyear is yielding 1. 54 lets look at what happened in markets overnight in asia. Things got a slower start there. The nikkei was down out of the gate it ended down by 1. 2 . In china, stocks are stronger. Shanghai is up by a quarter percent. The hang seng up by three quarters of a percent. In europe, there is active trading taking place, you are seeing some red arrows across the board. The biggest decliner of the three major averages would be t
Or everything is falling apart. The house of pain the value, of course, is somewhere in the middle. Today we took a step in the right direction. The market was, yes, mixed dow only gaining 100 points, s p add 2. 5 , nasdaq declining. 9 some stocks went up, others went down rather than the whole market marching in unison out the window however, most of the stocks that rallied were what i call slow down stocks, the ones that do well in recession. The foods, drugs, turbo charge, secular growth stories that can transcend the growth cycle which are very few thats a start but its hard to outrun the bond bears, arent they arent they hard people who look at plummeting treasury yields and decide eat economy is obviously headed off a cliff. Oh, they blame the trade war with china or the fed reserves unwillingness to signal theyll take action to prevent as serious slow down. Who can blame them i lost assurance from fed chief j. Powell that hes willing to do something about it, that he wants to bu