Major breakthrough in treating the coronavirus, a steroid that could cut deaths significantly among the sickest patients jay powell assuring the market is willing and able to backstop the economy. And finally, fiscal stimulus reports the white house is preparing a trillion dollar infrastructure package for everything from roads and bridges to 5g network. So, were these the three things the market needed to hit it big today . The three horsemen. Hi, mel. Hi, guy how are you well, i mean, they definitely helped, and im looking forward to Jerome Powells testimony tomorrow when somebody asks him what his favorite hardhitting question, what his favorite color is thats always riveting to me its all about the fed i think we all agree with that their commentary has been nothing short of astonishing the infrastructure supposed infrastructure bill, obviously, caught everybodys attention im hard pressed to believe that will get through this year given the divide we have, politically. The covid ne
Indication of yesterdays rally. Dow futures up 121 points. Thats half 1 , s p futures up 13 and nasdaq up 24. Dow on track for worst quarter since 1987, s p 500 having worst quarter since 2008. Speaker nancy pelosi looking for a phase 4 coronavirus package calling for Infrastructure Spending now and more money sent directly to americans. Major retailers furloughing staff as Stores Remain closed, macys, stores, the gap, cutting payroll impacts hundreds of workers. Unemployment rate could top 32 . Mornings with maria live right now. We want to check Global Market this is morning. Last day of the First Quarter in europe, green across the board. Dax index in germany higher by 200 points. World Health Organization says there are signs the coronavirus may be approaching a peak in europe. In asia meanwhile markets were mixed, take a look at the numbers on asian markets, best performer there korea up better than 2 although japan was down 1 . China says factory activity is growing, purchasing M
The stimulus package, but senators still working through some sticking points. It has not passed yet. What is your read . Romaine the market clearly waited on that. Around mid today midday today there was an outline from Bernie Sanders saying he had objections to the bill surrounding unemployment insurance, and he was willing to hold up the bill if these issues were not addressed. That seemed to take some wind out of the rally. We were doing very well up until about then. Day,a little later in the there was some news crossing the wire on apple. Was reported that apple might push back the potential release of the 5g iphone that some any people were anticipating this year. Based on that, we actually saw the nasdaq composite and the nasdaq 100 give up their gains on the day and move into the red, even though the broader market, the s p 500 in particular, remained in the green. But there was concern. Apple was actually up about 5 on the day prior to that, and closed down. 5 . Apple supplie
Spiking over those concerns over iran also coming up on the show, House Financial Services chair Maxine Waters on why she wants a hearing over facebooks crypto play, libra. Join us, stephanie link, from levine, welcome. Are you doing buying today little bit. Little bit like what little Semiconductors Semis little broadcom i started a position last week when it fell 8 on the day and i just kind of think that the valuation makes a lot of sense and well see. Its a china proxy for sure, so something good has to happen on trade but i think the valuation is discounting a lot stephanie i was talking to one senior trader who said that the threat of a cut on Interest Rates is more powerful than the cut itself and that therefore its harder to get this same good news again. Likely be dialing back the promise of a cut or it will be the cut itself youre coming from a much lower base than historical levels but it was good news that we got i think the commentary yesterday was exactly what was needed.
Including comcast. Are you thinking this is just a Community Center . No, its way more than that comcast is part of 1000 Community Center. Wifi enabled list so students among them families can get the tools they need to be ready for anything. Comcast suprt cspan as a Public Service along these other television providers. Giving you a front row seat to democracy. Leaders of some of the nations Largest Pharmaceutical Companies testified on insulin prices before the Senate Health committee. Lawmakers as the Company Heads about stock buybacks, Prescription Drug prices and assistance for uninsured customers. [background noises] [background noises] the Senate Committee on Health Education labor and pensions will come to order. Let me begin by thanking the ceos of eli lilly, eat three major manufacturers of insulin. For being with us today as well as a heads up cvs caremark, express scripts and optimum rx three major pharmacy benefit managers. They had to judge authors schedules we very much