And workers. Finish on the barrons round table tonight but at a safe distance, ben leveson, carl english and jack howe. Ben, first to you. Lets talk about whats happening in the market right now. In the beginning of the bear market, we had that crazy panic stage, lots of missed pricings. Now things seem to have settled down, investors maybe trying to find what the right prices are . They are. Or at least they, you know, theyre making bets that some kinds of companies are going to have a lot of trouble going ahead, and thats your traditional retailers, airlines, cruise companies. After rallying last week, theyve gotten hit very hard this week. And there are companies that have been winners including Biotech Companies who are working on treatments and vaccines for coronavirus. And theyve done very well. The one strange one is energy which has been among the losers but had a fantastic week because of reports that maybe we could see some production cuts to oil, and that would help drive th
Economists believe this is really just the tip of the iceberg with probably millions of layoffs still to come. On monday the first big wave hit the Retail Sector with macys, kohls and gaps announcing they would furlough tens of thousands of mows. The closure of stores to prevent the spread to have virus has taken a heavy toll on its business. And President Trump had to give up on his hope expressed just a week ago that the u. S. Could be opened up by easter. Hes now saying the company will have to keep practicing social distancing for the entire month of april, and he add added that we should prepare for a very painful two weeks ahead. Meantime, his top medical advisers warn that up to 240,000 americans could die from this disease even with current Safety Measures in place. On wall street stocks ended their worst First Quarter ever. The dow lost 23 , thats the biggest quarterly decline since the quarter of the black monday market crash of 1987. And the New York Stock Exchange floor rem
Finish on the barrons round table tonight but at a safe distance, ben leveson, carl english and jack howe. Ben, first to you. Lets talk about whats happening in the market right now. In the beginning of the bear market, we had that crazy panic stage, lots of missed pricings. Now things seem to have settled down, investors maybe trying to find what the right prices are . They are. Or at least they, you know, theyre making bets that some kinds of companies are going to have a lot of trouble going ahead, and thats your traditional retailers, airlines, cruise companies. After rallying last week, theyve gotten hit very hard this week. And there are companies that have been winners including Biotech Companies who are working on treatments and vaccines for coronavirus. And theyve done very well. The one strange one is energy which has been among the losers but had a fantastic week because of reports that maybe we could see some production cuts to oil, and that would help drive the price back
Its total case count is now at 135. [ closing bell ] the possibility of a deal on a stimulus package prompted a massive rally on wall street today with the dow jones recording its largest ever point gain. A look at the numbers. Te dow squlujumped more than 21 partial Government Shutdown clintons at 20,704. The s p 500 soared more than 200 points today and the nasdaq gained 557 points. Thousands of people in the bay area are out of work as a result of the covid19 pandemic, and not surprisingly, the California Employment Development Department Says its seen a spike in unemployment claims this month. As the department attempts to keep up, some requirements have been waived to help those who need it most. There is also the possibility of benefits for independent contractors who normally wouldnt qualify. Abc7 News Reporter Melanie Woodrow has the story new at 6 00. Reporter san jose mom tamara cor corbeli is spending more time with her daughter since the covid19. She is a catering director
Experience you had just this morning, maybe the lessons that can go to our viewers. Yeah. You know, so we were talking, my colleagues and i, with an investor this morning and we spent about an hour on the phone. This is somebody who has been, you know, managing a portfolio of stocks principally and has lost faith in their ability to do that this week. Actually was actually coming to us and saying, you know, can you just take this over for me i dont have any faith that i actually know what im doing anymore. We didnt actually have a good sense of what was in the portfolio. We began to go through it. What we saw was a list of names that probably looks remarkably like the ones that people that are selfdirected investors have, bigger accounts would typically have we saw names like microsoft, apple, cisco, apvee, abbott labs we saw a lot of actually pretty Good Companies in there and not a lot of concentration risk. We saw a decent chunk of cash. When this all started happening they werent d