Is another one of those mornings where it is hard for me to even construct a narrative. Disney is down, so is netflix. That can change, but there is a lot that is up, especially among the large cap tech names that are higher yeah, on the back of that jobs report, the number is quite good, but 40 of the gains came from the leisure and hospitality sectors. Its a big day for ipos. L lemonade is going public today the indication looks like that price could double on the opening. It is priced at 29 a share it looks to be between 50 and 52. That could be another good shot in the arm for the ipo market. Refreshing lemonade ipo, nice in a is where we will begin talking about the markets this morning. Lets bring in David Rosenberg good morning. Good morning. David, you have called this the no reason no rhyme market. But after this action that were seeing this morning, does today at least make sense . Look, i think the stock market is going to price in a lot of things including a vshaped recover
Production next week. Now we dont know which ones are going to be built but we just know for boeing which has had rapid troubles over the past year and a half or so to say nothing of the virus shutdown here, but this is welcome news, certainly for the markets and of course the biggest advance today is Gilead Science drug that is showing promise, or could be effective against the coronavirus, its out there a number of other medical concerns that are also involved in the hunt for a vaccine or a treatment and there are a variety of them out there half a dozen is coming up here and i will explain a little bit later but its what gilead is doing thats getting a lot of attention as we stressed so many times here regardless of the stimulus around the virus, what will really move the markets and connell ly proven to be the case is progress on dealing with and or treating the virus so this gilead news is big news in need, Jackie Deangelis on that and much more. Jackie theres optimism in the mark
The disease. Major sporting events were postponed or canceled. Schools and colleges close their doors, concerts were scratched, even traditional st. Patricks day parade were called off. Thousands were told to work from home. President trump was seen daily on tv holding high level meetings and giving updates on the federal response. His critics blasted him for not doing enough. That on friday, he declared in a National Emergency bringing out more federal money for states and municipalities. Meanwhile wall street was reeling. The Financial Markets have gone into freefall on fears the impact of the disease could cripple economic growth. History was made on wednesday when the longest running bull market came to an end almost exactly 11 years to the day began with the dow falling more than 20 from its highend month ago. The next day, stocks drop the most in one day since the 1987 financial crash. However on friday, there is some hope that the federal Stimulus Program might help the crisis.
The disease. Major sporting events were postponed or canceled. Schools and colleges close their doors, concerts were scratched, even traditional st. Patricks day parade were called off. Thousands were told to work from home. President trump was seen daily on tv holding high level meetings and giving updates on the federal response. His critics blasted him for not doing enough. That on friday, he declared in a National Emergency bringing out more federal money for states and municipalities. Meanwhile wall street was reeling. The Financial Markets have gone into freefall on fears the impact of the disease could cripple economic growth. History was made on wednesday when the longest running bull market came to an end almost exactly 11 years to the day began with the dow falling more than 20 from its highend month ago. The next day, stocks drop the most in one day since the 1987 financial crash. However on friday, there is some hope that the federal Stimulus Program might help the crisis.
The disease. Major sporting events were postponed or canceled. Schools and colleges close their doors, concerts were scratched, even traditional st. Patricks day parade were called off. Thousands were told to work from home. President trump was seen daily on tv holding high level meetings and giving updates on the federal response. His critics blasted him for not doing enough. That on friday, he declared in a National Emergency bringing out more federal money for states and municipalities. Meanwhile wall street was reeling. The Financial Markets have gone into freefall on fears the impact of the disease could cripple economic growth. History was made on wednesday when the longest running bull market came to an end almost exactly 11 years to the day began with the dow falling more than 20 from its highend month ago. The next day, stocks drop the most in one day since the 1987 financial crash. However on friday, there is some hope that the federal Stimulus Program might help the crisis.