7. 0159. Hore yuan at lets get a check on the markets. Abigail doolittle has the details. Abigail certainly a risk on day at the markets. The s p, the fifth day in a row for the winning streak. The optimism carrying right into the new week after some strong economic data. Of course, we have that continuing rally in china. 100 set for its third record close in a row, being helped out by amazon. And above 3000 for the First Time Ever for amazon. Has a 1 trillion market cap once again. Olibre is above 1000 for the first time. Nasdaq a member of the composite and nasdaq 100. Speaking of these records, its incredible. If we look at a chart on the march lows, the nasdaq is now up more than 51 . Did not exist in the Great Depression, but some say the rally for the s p 500 is Great Depression like after its huge drop. Only time will tell. It seems some of the folks that have been reluctant are finally joining in. These are member ranked returns. Money markets had reached a high of 4. 8 trillio
Editor Whose Research interests include 19th century print culture, womens magazines and the radical alternative press. Before we began i would like to extend a special welcome to anyone who will be joining virtual mh programs. If youre definitely with her society where the first historical site in america and have been collecting, preserving, publishing and sharing our history since 1791. We hold an amazing collection of close to 14 million manuscript pages including the papers of the first three president s of the United States. Sorry, three of the first six president s of the United States, i misspoke. We are continuing to collect today, and if youre interested we are currently collecting material related to the covid19 experience. We have a special initiative designed to record peoples experiences trying this unusual time and preserve a diverse sampling, firsthand accounts for future generations. In these days of social distancing we have taken to hosting virtual programs and onlin
Find a bid. We wait for more gloomy Economic Data at 8 30. Time now for our market moving news from our new york team. We are going to start with oil. The iea says the outlook for oil demand has improved somewhat, yet it sees crude production on track for historic decline this month, at the lowest level in nine months. Annmarie hordern joined me now for more. Annmarie this report is still bleak, but slowly but surely improving. They had to say is that outlook for the oil markets are improving somewhat. Amanda little stronger than what they were expecting, but really, the big take away from this report demand a little bit stronger than what they were expecting, but really, the big take away is that this month is on track for historic decline, the most in nine years. This week alone, we saw the kingdom, the uae, and kuwait deepen cuts for june. The same time, the iea is looking at producers outside the group like the united eights that are just being forced due to supply and demand the U
Ten states are beginning to work on plans to open parts of their economy. Maybe in may, the fed launches a commercial paper funding fa s t facili facility there is an argument that calls for stocks to retest are fading. I thought yesterday was an important day with the dave kostin change. I did a lot of work, help with larry williams, about how many times when you have a 50 retracement or more, we have a retest the answer is almost never i think theres a lot of people coming on someone came on the air this morning and said in every single case you have to have a retest. Thats completely untrue if you bounced up 50 beginning last friday thats what we did. A lot of people say this thing is based on large cap companies. Thats what we do. Were not trading luncheonettes here thats not to the detriment of luncheonettes. Were not trading hair salons. Thats not the way it works. We trade Large Capitalization Companies that do better than smaller ones in this environment. Thats life. Is it fair
This is the report day 17 of the big walk down and the chorus as the saying goes when the going gets tough the tough make kaito cheesecake as you can see here. Put together a delicious coke of quito cheesecake in my insta pot and this is whats getting me through this horrible global lockdown and other good stuff like that stacey yes max we have been talking about of course the collapse of the markets and whether or not this can be like the Great Depression sort of error or in 1987 or 2008 because history often rhymes of course there are unique individuals and unique generations and unique societies encountering each wave of collapse all the way back to the south sea bubble so theyre never completely the same but the human nature and human instincts are often the same just like a virus is often generally the same they become very deadly and then usually they somehow are defeated i want to look at some of the stories weve been covering and i know everybody is probably stressed out there