What may be the most important stock in the market right now. The roller coaster ride that is crude Oil Continues last night, july falling below 18 a barrel a lot going on on this wednesday, april 29. You are watching Worldwide Exchange here on cnbc good morning welcome from wherever in the world you may be watching. Im Brian Sullivan here is how your money and markets are setting up their wednesday. The dow did fall a bit yesterday but as bob pointed out, many thought it was a relatively good market day for this reason it wasnt just the four or five big cap tech stocks leading the way as they always had been. Banks, small cap stocks, which had been notable underperformers were actually stand outs some people want to see that kind of rotation today, Big Cap Technology could be in focus. Following googles quarter which wasnt as bad as some feared, stock up nearly 8 premarket. Oil on a macro level becomes the metric to watch. Crude oil in the frontmonth contract, which is june, is tradin
Your stat of the day only one stock in the nasdaq 100, pfizer fell today, 99 out of a hundred in the nasdaq 100 are on the rise. Big banks, a big story for earnings and the results, the stocks not doing so much and former fdic chair sheila bair is here with a new white house op ed and the new Coronavirus Briefing, we will be monitoring that in the last couple of days there has been more news and this one a little different. Look at the location it is not in that press room this is in the rose garden which, we dont know what theyre going to say, but historically, when we have this one podium in the rose garden, we tend to get more news so there is a lot going on, but lets get right back to the markets. Tim seymour, i want to begin with you and really today i need a china story. Apple, iphone sales jumping 2. 5 million in march versus 500,000 in february. Better import export data. Did bigcap Technology Today to you sort of signal that china is providing a kind of road map for our reopen
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Home prices up 3. 8 year on year. Roadmap begins with a turnaround tuesday. Stocks set to bounceback as markets attempt to recover from the worst drop since 2018. The drug maker shipping the first batch of this Coronavirus Vaccine as the World Health Organization warns the outbreak has the potential to become a pandemic. And the top performer sector just last week losing more than 200 billion in market value yesterday and set to fall again at the open today. As stocks come off, as we said, the worst day in the couple years, the coronavirus numbers continue to climb both in and outside china. Total confirmed cases exceed 80,000. Deaths surpassing 2,700, heading into the session the downd at s and the s p are in negative territory. We have croatia, bahrain added some. The Iranian Deputy Health minister tested positive. You cant read all the headlines theyre coming too quickly. And i think iran and italy are the two that i think people are focused on. But all these others, they always in
Dow decline. Massive market selloff is where we begin this morning. Kevin koran and keith lewis join us now on todays down swing keith, the pullback were seeing right now, start of a larger correction how are you position organize how would you be suggesting investors position given the steep moves weve seen today first, good morning well, from our perspective, back in late january, we downgraded our nearterm Equity Outlook to neutral, and part of this happened before the coronavirus. Already we had stocks at a cycle high, the sentiment that was stretched and weve gone over six months without a normal correction you lay on the coronavirus, which provides for uncertainty, and we think the risk reward near term remains mixed. From our perspective, that means maybe bringing equity allocat n allocations that have run up a little bit back to target. Some of our more tactical portfolios last year we added a little bit of gold longer term, the bull market trend is intact, but when you shut do