To back the bell and set to publish their own support program. Force johnson orders the u. K. Into a three weeks lockdown, sweeping new laws to breakup gatherings and fine any dissenters. Taylor meantime, i want to bring you some breaking news coming out of china. Their companies are having the worst quarter on record, according to china. The headline as it catches my eye, the economy has not gotten better as much as we thought they would be returning to work. It looks for the first three months of this year, a Quarterly Survey of all the firms, it looks like every individual sector was reporting worse results than originally thought. Saleswas a widespread in amid the harder hit retail sectors. The collapse in revenue and profit. Again, Economic Activity collapsed in february. This is as we knew that there was the massive virus spread that was going on. I think the key headline is Chinese Companies continuing to have the worst quarter on record. Every individual sector reporting worst
Well get into that as well. Deirdre bolton has all the fast moving developments from the big board. Neil what a week, what a week indeed. This is the worst week for the dow weve seen since 2018. Just the volatility alone today. As we can see down 470 points. We were down more than 900 points earlier. I want to highlight quickly some of the stocks that are limiting the losses on the dow. You have two pharmaceuticals, not a huge surprise in the backdrop of these fears about the coronavirus spreading and one staple which also does sell face masks. Merck and pfizer, we know merck has had a long history of developing vaccines. So you do have the stock moving higher limiting some of the losses. Pfizer as well, and 3m which does make the face masks. If you look at some drags on the average, part. Reason today, why were seeing so much weight you have apple, microsoft, two Huge Tech Companies that both have exposure to china. Apple in 2019 got 17 of revenue from china, microsoft about 10 . Both
Became ill. More than 200 people are being monitored in massachusetts, but nassau county, new york, gotten the allclear. That news sent market down yesterday. Country after country report new cases. Infected number of people is 82,000. The latest today being denmark. The world seems stunned, really, really about this and how to contain all of it. Saud sued cutting access to holy sites. Japan closing schools nationwide for a month. Airports in latin america screening passengers. Now while epicenter has become italy, because number of cases surpassed 600 and seem somewhat to be out of control. Were all over the markets, giving you advice and markets to navigate the selloff. Lead us off payne capital, courtney dominguez, a Organization Im not associated with. David dietze and money maps keith fitzgerald. Keith, you have been one of the cautious or most cautious analysts on television the last three or four weeks. You were anxious about Something Like this possibly happening. How do you fe
45 degrees in San Francisco. 33 in santa rosa, hovering around freezing all morning long. And thats not the only spot. Temperatures very cold in livermore at 36. Oakland slipping to 39 there and san jose at 45. A lot colder this morning for most. Patchy fog for some. As we get into the afternoon, we are going to remain partly cloudy, dry, but on the cool side for some. Ill have a look at your temperatures coming up in just a little bit. If youre traveling to the sierra, snow continues to fall at this hour. Details coming up. We have the latest update on the crash we mentioned in san ramon, Bollinger Canyon road, still multiple lanes closed at that intersection because of the crash, but it is in the clearing stages. Also want to mention northbound 238 at westbound 580, a big rig involved in a crash there. Skip ahead to where we are talking about we want to show you the carquinez bridge, east shore bay, a nice easy drive. When you get to the toll plaza traffic very light. Go back to the
Lets look at where we stand in the markets the dow hitting a new high up 117 points the s p and nasdaq all in record territory. Earnings are driving the market highs its getting rewarded. Bob is at the New York Stock Exchange with more were at new highs because the market has successfully rotated into former out of favor sectors. Im talking about cyclicals. Whatever happened to the Global Economic slowdown. Those are the two classic cyclicals on a global level. Communication services are Media Companies also doing well. Even bank stocks doing well as the yields curve has steepened in the last month. Its not just here in the u. S. I think a lot of people were surprised to find that europe is moving up. We had new highs in italy and germany and france theres your european etf. A lot of this is because the bank stocks have turned around italy, germany and france even japan at eight week highs. A little bit of this is about trade optimism a lot of people believe that will help the global e