Continues on a global scale. A worldwide their market, the 11 year bull run here is over. The dow is heading to the 22,000 level. A month ago it was 29,000. It is the fastest selloff in history. The s p will hit bear market territory at the open today, down 20 from the february high, the same story with the nasdaq. More money is still moving into safe treasury securities pushing the yield down to 0. 69 as of right now. The latest news on the virus brings its impact home to all of us. Sport dramatically affected. The nba has suspended the season indefinitely. A few days ago they banned reporters from locker rooms. Now the whole sport is shutdown. The Seattle Mariners will not be playing any home games. The early baseball season is in question. There will be an announcement later on the nhl. Social distancing is apparent across the country. You can see it and businesses are feeling it. Theres a long list of conference and meeting cancellations that is barely hurting airlines, hotels and
Slow the spread of coronavirus we are following their advice as the centers for Disease Control recommends we are spaced out at least 6 feet here in the studio to better protect ourselves and to make sure we stay on the air to bring you the latest information you need to know. Today residents and 6 bay area counties have been advised to remain at home leaving only for essential needs this applies in the following counties, San Francisco more and santa clara sam, a tale alameda and contra costa counties, the order takes effect tonight at midnight and it will last for 3 weeks the order will close places such as bars and jams movie theaters and dined in restaurants except for those which offer delivery or takeout essential services will stay open in those Services Include city and county governments servant services such as police fire and hospitals. Your garbage will still be picked up Grocery Stores pharmacies banks post offices, and gas station will all stay open for a complete list of
Jim, is it short answer is yes but lets qualify it just because today is a day to buy doesnt mean we cant go lower from here. Look, when you say is it a time to buy, it doesnt mean you pile into the market today. It means over the coming days. There are still Big Questions to be answered. We know theres an Economic Impact and we know theres going to be a profit impact. The question is how long does it last thats one question. Which we just simply dont know the answer to. The second question is what policy response . Now on that second question lets say this theres a heck of a lot of room for improvement and thats a good thing so, yes, it is a time to buy but for Goodness Sake please pace it out over the coming days steve, cramer today i dont want people to buy, cash is king, says he has a huge amount of cash. We would not be buyers until we take out mondays low which on the s p 500 was 2734 market feels very broken to me what do you think . I think hes right. Last week okay it was time
Halftime report starts right now. Welcome. Its good to have you with us on our wednesday. Jim lebenthal, Pete Najarian and from naples, florida, lizann sonders. Highs of the day, approaching big numbers, dow 30,000, nasdaq 10k, not that far away and cooperman weighing in on the state of stocks, telling us its not time to worry, yet. I would say were in the early stages of knocking on the door of euphoria but not quite euphoria certain parts of the market, like tesla, are in euphoria. Other parts, like energy, are in pessimism. These big numbers not all that far away, pete. All good, the market depends on what were focusing on. Are we focused on the coronavirus . If so, we go down. Generally were focused on earnings and we go higher. Thats where the market has been trading. Yesterday was interesting because apples with a little bit of both, right you look at apple. It was getting pushed down because of their guidance about what they were facing right now, what they were seeing Going For
Debut four months ago. Who is this . Why are they so . Why so many questionmarks on the graphics we find out the answer to all of those. Riddler. Exactly lets start the program with the big stock story and market story really of the day. And that is apple. A stark warning on revenue gue are due to the impact of what else, the coronavirus. The iphone manufacturer tumbling today but finishing well off lows go to josh liptak. With more on what apple said and the reaction josh. Thats right, brian apple finished in the red today but maybe not hit as hard as some expect. Many analysts weighing in and concluding its a shortterm challenge. Meaning they think the demand for apple products simply shifts from the march quarter to future quarters there is still a lot of uncertainty and questions. How long does in outbreak really continue how long before chinese consumers feel its safe to go back out and shop . Remember apples only has 7 out of 42 stores reopening even those with limited hours appe