And the fed will get to zero pretty quickly. They are in a nowin situation. Had they not done anything the market would have been disappointed i think stocks are higher a year from today, at the end of the year. I am looking to raise my target i am at 3440 my notice for earn something 172. I think they cut 50 at the next meeting in just two weeks i think thats going to happen and thats where we begin our debate today, what i think is the only one that matters. The coronavirus and whether it was a blip or a black swan and what that means for where stocks may go from here we will attempt to answer that question today with our Investment Committee committee and another guest vinny viola. Joe terranova, stephanie link, josh brown, steve tubin. We will lean on him today to find out what he is telling clients. Stocks and bond yields plunging. The stock off its lows, still a loss of 550 points you tell me, is this a blip or a black swan a blip, stocks are voweler inible, they may go down well
For only 15 minutes. Since then stocks have moved sharply lower. The g7 proposed policies, but the tenyear breaking below 1 for the first time ever. Darius adamczyk will join us in a bit. We have Rick Santelli here, Steve Liesman is covering the emergency fed cut. And meg tirrell has the latest on the coronavirus outbreak. Ill be watching the fallout for the banks. Pete is joining us yesterday, today two very different days have you chanced what youve been doing have not. This is a classic buy the rumor sell the news type of trade. It was tell graphed friday and over the weekend were trading higher eventually. You still think we go long you do think the panic is overblown. I am in the life sciences. I know some of the things going on that are not well publicized, but theyre out there. Its moore pernicious, and now its on our shores, and thats the big concern. It is a virus that i do believe that at the end of this quarter, a few months, well be seeing the light at the end of the tunnel
Correction i wanted to see the market get back to at least flat on year. Now worry below that i didnt want it for the reason that we are currently experiencing it but the world didnt give you that choice. But i did feel we are extended in a lot of areas. A lot of that has been corrected very quickly i want to give you examples that i think are illustrative of what is happening out there airlines are down 9 in two days getting worse by the minute. Somis are down 10. 5 in two days nvidia made a new record high this time last week. Down 18 from that record high parabolic moves to the downside. The s p 500 this morning at its worst level was off 6. 4 from its highs. Nasdaq off 8. 2 vix at the highest level since december 2018. What does all that mean . This is preferable to a turnaround tuesday failed rally that falls apart by the end of the wee and then we sell off into friday, people worried about, you know, oh, whats going to happen this weekend this is better lets get it all out master
That steep selloff after the fed surprise move, reversing today, at least for the moment its holding the Dow Jones Industrial is good for a 2 gain at this moment s p is holding above 3,000 1. 75 . Nasdaq up by 1. 5 . The question today, i want to know the answer to, joe, is, where are we what does this action tell us about whether weve hit a bottom or not or is this a process thats going to take more time its absolutely a process thats going to take more time this process began january 17th. On january 17th, the u. S. Ten year was 184 the u. S. Tenyear fell january 31st to 1. 50 the market at that point was telling us exactly where we are right now. Now i understand 95 basis points and what i left on february 12th, u. S. Tenyear was 1. 63 were going to take the lead from where the u. S. Tenyear goes you need to see the correlation between a lower yield and lower stock prices begin to break down i think whats incredibly relevant at this point is the actions of the Federal Reserve and wh
And tony dwyer leaves the pen. Staying now is time to take profits. We tell you what has him a bit nervous. All that ahead we begin with earnings alerts on ibm and netflix. Both stocks on the move after reporting numbers. Both stocks moving higher. As always full Team Coverage standing by to break down the big moves. Julia boorstin digging in on netflix. Lets begin with deidre bosa. A green on the screen for big blue. Ending the streak of declining year over year revenues five quarters that have but is it too soon to call a turn around . Remember we saw recovery in 2018 but didnt last. The revenue grew a 10th of the . And shares popping because expectations were so low and now gains up lower than 4 a sustained turn around will depend on the bet on hybrid cloud and the 33 billiondollar red hat acquisition. There are early signs of promise. Cloud revenue hitting 8. 6 billion comprising 30 of revenue. Ahead of the report ibm saw downgrades from Morgan Stanley and every core this table sug