Numbers, 8 30 this morning. We knew it was going to be bad because bricks and Mortar Stores have been largely shut down, and it was bad. April sales down 16. 4 in april after dropping 8 in march. So heres the market, with just minutes to go to the opening bell. Red ink all over the place but not as bad as it was. The dow off about 180, 25 down for the s p, 121 down for the nasdaq. Thats of course inspired by apple, which is way, way down this morning. What were looking for is how fast we can rebound on the other side of this really bad Economic News. Thats the other side of the coin. The great reopening. Which gathers steam this weekend. There are only a handful of states that are still trying to enforce a complete lockdown. This will be a test of our willingness to get out and about, our willingness to travel, eat out and shop. This is important. We need to open the economy. We need to get back to work. This weekend, i think its a prelude to memorial day next weekend which is the unof
That the worst of this may be behind us. And they can start thinking about what the recovery is going to look like. Someet i know we have earnings coming out. Romaine travel companies will be reporting after the bell. On booking, what we are looking at, the g1 numbers coming in at 2. 29 revenue. That was the estimate for 2. 15. Well belowitda estimates. The estimate was for 363 million. So, no real forecast here. The company did say that covid19 would profoundly impact the travel industry. We will dig deeper to see if we can find a little bit more about any Forward Guidance for the company, basically saying they would emerge from the crisis in a position of strength. Scarlet right now, this is something that all companies are open for, to come out in a position of strength. For we go, i want to get an idea from you. This is something that Joe Weisenthal posited this morning. How much do you think this equity market rally has been premised on the idea that there will be more stimulus, a
Flat for 2020 as tech continues to lead the gains. Financials and utilities amongst the worst performers today coming up on todays show, we will speak exclusively with sap ceo Christian Klein about his companys efforts to develop a coronavirus Contact Tracing app and what hes hearing from customers about the state of local business and the earnings reports will come fast and furiously this afternoon highlighted by lyft, grub hub, tmobile and well speak with tmobile Ceo Mike Sievert ahead of his companys Conference Calls just after numbers cross. The big stories we are watching, mike santoli following the volatile trading action, Steve Liesman with a look at the economy and another sobering jobs number today, and deirdre bosa is covering uber and lyft mike, start us off the s p struggling to stay in this zone for the past few weeks. This is a oneyear march its flattened out since april is it resting, rolling over . Its a bit of a standoff i think people are saying right now its preserve
The market did give back gains we had seen earlier in the session. Part of what we had been seeing with wti prices. Oil prices up. Wti potentially having seen the worst. Talking about disney in a minute they are reopening disney shanghai on may 11 wti up 3. 5 . 23. 40 it has been a long time since weve seen these levels, andrew. It is joe, or becky. We may have to get tacos for joe at the end of the month. Dont worry about me, andrew. Thats like 6 for 12 tacos. What we have to worry about is the hypo allergenic malte opinion poo or whatever. I told you id be happier to see stocks higher so i could buy my own dog i thought, wait a second. Doughnuts for andrew taco bell. Then she slips in the hypo aller againic labradoodle. Shes smart. Andrew, where are we at we could be at 3,600 or 1,100 by the end of may who knows the reason i said that. Over time, i would have never bought stocks on may 1, which makes me think i should have well see. By the end of may, well it may be obvious to buy on
One of those names we saw was wayfair, of 24 . Today alone, of Something Like 700 . There is a lot of analyst chatter that some countries like wayfair will see lasting gains from this boost they have been getting. Another name also up 7 . Saying the gains in this environment could actually end up lasting. One name that we are keeping an arts, ea, electronic their earnings crossing the wire. The q4 numbers, revenue revenue slightly above the 1. 42. Te of any sort of insight that they can give us into how the world will look for a company like electronic arts. Scarlet if any company could benefit, it would be Something Like electronic arts. ,till with us is olivia engel cio of active quantitative equities at state street global advisors. There is a note out by ubs today, saying that cash on the sidelines has grown to about 4. 7 trillion, of nearly a trillion up nearly a trillion. Do you see any kind of rush to the exits . Do you see anybody cashing out, waiting for the right time to ente