The last 20 minutes or so. Nasdaq is down 33 and 3 quarters. Now these numbers coming after signs of the spread to have virus stabilized in hot spots. That led to strong rally yesterday. Here at the close yesterday, the dow gaining and s p entering bull market. U. S. Death toll topping 14,080 but there are signs that the spread is slowing in hot spots. The cdc issued guidelines to get to workers. The Trump Administration requesting 250 billion, democrats want additional 50 billion. Fed chair jay powell will be giving us an update on the economy and actions taken to combat the impact of the virus, thats today 10 00 a. M. Eastern time. More to expect from the fed. The today is a big day for oil. We are watching the contract right now. Its up almost 5 and a half percent. The investors are watching the opec meeting including saudi arabia and russia, can they come to an agreement . All rising on hopes of a deal to cut production and bring an end to the costly priced war. And then there was
Cruise passengers in japan has just ended. Cheryl live pictures of passengers landing, 1800 deaths confirmed worldwide, 71,000 cases confirm offed coronavirus, the flights had u. S. Passengers on board who have been stranded, one arrived in california and the second one in lockland, texas, the state department arranged the evacuation because those on princess were risk of exposure. 14 of those evacuees had the virus, they have been isolated from other passengers even on the aircraft. Devastating flights in mississippi, residents fleeing jackson and expected to overflow bank, governor declaring state of emergency as Law Enforcement officers went door to door to seek higher ground. Well, gm taking the off ramp when it comes to unprofitable market, wrap up production in australia and new zealand and sell plant in thailand, the move and most recent restructuring plant, this makes more dependable on the United States, latin america and south korea, they have forecasted a flat profit for 202
Things where its always on the horizon, were about to do it. I think they will do it. That will take a huge uncertainty out of the way, usmca, nafta 2, getting that out of the way. The other thing to avoid is a trade war with europe over auto parts and imports. With all the optimism, bank of america said 68 of managerses think the markets going to be good. Thats usually a bearish sign. Lauren i know. When everyone starts saying things are so good, mitch, you study this, you know the stock market, does that mean you should go in the other direction. Not necessarily. Think about what happened last year. We were worried about the fed raising rates. This year the fed lowered rates three times. The markets are sending them a message, saying we like lower rates. I think fed talk will be the thing to look at. I would look at corporate earnings next year. Baked into the market this year is the fact that next year will be a good year for earnings. Last year was a meh year for earnings. Lauren i
Just crossing into the green line. Techheavy nasdaq closing lower. Im deirdre bolton, in for melissa francis. Connell good to see you, deirdre. Im Connell Mcshane this is after the bell. First lets get to what is new at this hour. Preparing for the possibility of just a direct hit. Resident across florida, bracing for Hurricane Dorian to strike as potentially catastrophic category 4 storm. If youre in an evacuation zone, youre ordered to evacuate, please do so. Put the safety first. This is potentially a multiday event, where it will churn slowly across the state. Connell at this point dorians path is still difficult to predict. It could end up being the most powerful storm to hit the east coast of florida in nearly 30 years. It is currently a cat3. Winds up to 115 miles an hour. Strengthening over the water. Residents on high alert. Stocking up on usuals, water, food, supplies. Many are finding empty shelves at grocery stores. Certainly long lines for gasoline. Well keep you updated t
As appropriate to sustain the expansion of the fed sees longer run federal funds rate dropping from 2. 8 to 2. 5 . On inflation the fed closely monitoring inflation at it point. The forecast is for headline inflation to fall 1. 5 this year. The fed sees core inflation slipping to 1. 8 . Then in 2021 the fed sees a reversal, inflation rising back to 2 . On gdp the fed forecast as 2. 1 in 2019. The fed lowered outlook for unemployment this year to 3. 6 . The fed sees the labor market as strong right now but they say the rising economy at a moderate rate. Now the data shows that Consumer Spending picked up but Business Investment softened. Fed sees uncertain forecast of economy, jobs, ininflation. Very interesting statement but no rate cut today. Looking at one fed president or one fed vote away from a rate cut this year. Two fed votes away from two rate cuts this year. Back to you, charles. Charles edward lawrence, thank you very much thats a whole lot. Here to unpack it all, Danielle Di