Jobless claims, though, 4. 4 million, bringing the total to 26 million over the past five weeks. Oil bounces, and the european pmis remain historically low 16 in france no, 10 in france 16 in germany. Jim, though, your tone this morning is relatively hopeful. Look, i am a creature of who reports and what they say. And i can literally i find it hard to remember as Many Companies as saying good things, even as obviously were in nidest of a pandemic, and i dont think theyre all clockeyed optimists. These are large cap companies. These are not the companies that the government is trying to protect. These are arguably the winners the companies that are going to get stronger i listened to lee, and Lee Cooperman was talking about what its going to look like on the other side i look at my desk. I have reports everywhere here these are all companies that are going to come through with fewer competitors. And that may be bad for the u. S. Consumer, but its good for the stock market david, would y
Tonight. We have got guy adami and we have tim seymour and steve grasso and brinmar trust jeff mills. Guy, were up 770 points on the dow and we have oil spiking, as well and banks participated and a lot of different sectors participated in this mini run or mini rally and whatever you want to call it is it because of fed help . Is it because some of these coronavirus numbers came down, giving us a reason for optimism or was it Something Else yeah. Typically its all of the above and ill have to reposition my camera in a second and i apologize if the shot is lose pep yesterday made sense to me in the way the market traded up and failed at the levels that we talked about it didnt make sense to me, but to your point, i think the howard marx article helped and the fact that Bernie Sanders dropped out helped and i think the dr. Fauci comments helped and its an amalgamation of a lot of things that are positive and i understand the reasons for optimism my concern is even with the market current
Parts here today. Some are literal. The princess cruise ship is one. Theyre watching throughout the day as it makes its way to the port of oakland. It is supposed to dock around 3 00 this afternoon. Well talk about that, oil off the bat with our buddy phil flynn out in chicago, price futures group, senior strategist at cme. We talked about it last week, phil. You and i were going back and forth about russia and saudi arabia. Now we have the true price war breaking out that has consequences in places like texas and north dakota. Take us through what youre thinking about today . What im thinking about is were learning today, not always is a low price for oil good for everything. There is concerns for banks, oil producers, the general overall market. Having said that, there is some hope, you know, right now with the talks of stimulus. Maybe we can pull off the lows right now. There are old saying in the business low prices cure low prices but this breakup of opec and russia, this opec plu
Blake burman at the white house. Kristina partsinevelos is on the floor of the new york stock exchange. Phil flynn is watching the action in oil and ill be interested in gold there from the cme. Lets start with kristine in . What a day. The fact you see the dow close 1000. Off the session highs. I should say i was seeing negative 700 points. It was starting to get better. That is not the point. The s p worst performance over last week or so. Safe haven moving to gold as well as 10year government bond. So the government bonds though are telling us two different stories. The fact you have longer, broader term impacts with slower recovery around the globe. That is the story last week or so. You have a lot of investors were unsure how to price in the coronavirus. Because of that you saw further pressure on the yield to the lowest point weve seen since 2016. Another big issue is that gold climbing higher not since 2016. They have a large exposure to china. You had apple within the last week
In the wake of several Mass Shootings, he says the senate will look at expanded the ground checks. Red on the table, socalled flag loss to keep guns away from dangerous people. Mcconnell has a post most gun laws in the past. A Political Drama is playing out in italy. His deputy is trying to bring down the countries populist coalition and force snap elections. Salvini wants lawmakers to vote out the government as soon as next week. He says he and his party are tired of infighting with their coalition allies. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Live from bloomberg World Headquarters in new york, im vonnie quinn. Amanda im amanda lang in toronto. Welcome to Bloomberg Markets. Our bloombergby and Bnn Bloomberg audiences. What a week it has been for global markets. We will wrap up the week, and escalate in trade war with the u. S. And china sign currencies, bo