Good friday morning. Welcome to squawk alley. Im Carl Quintanilla with Morgan Brennan at post 9 of the new york stock exchange. Jon fortt has the day off. Weve cut our losses in half since the open, although oil is approaching below 42 know v now as the opec meeting continues. Well begin with the mornings markets, the dow falling again but well off the lows, down about 380 points. Mark mahane knjoins us live alo with mark just in the internet space, the fact that so many investors are trying to game out what the impact here of covid19 could actually be on the sector. How are you gauging, how are you assessing risk versus reward within your coverage okay. We had a pretty significant data point this week. We had the ceo or the cfo of Companies Like uber, lyft, and Google Alphabet all present at an Investor Conference this week i think what we heard from all of them is not yet a Material Impact lyft said they were seeing a small positive impact because people were leaving Public Transport
People on the cruise ship the grand princess have tested positive for the virus. Thats nearly half of the 46 people tested on that ship and of those 21, 19 are crew members. Now, that ship is currently located off the coast of san francisco. It has been in limbo there since wednesday and now all eyes are on this ship because the last cruise ship, the diamond princess, at one time was the second Biggest Center of coronavirus outside mainland china. That ship ended up with more than 600 cases of coronavirus. What is going to happen to the people on board the grand princess . Were working literal hour by hour with the department of defense. It is truly evolving right now. Hour by hour, truly evolving. They dont know. The only person who has made his view on what to do with the 3,400 people who are on board that ship right now waiting to know whats going to happen is President Trump. If it were up to me, i would be inclined to say leave everybody on the ship for a period of time and use th
Coronavirus briefing over at the white house. So lets go to chief White House Correspondent jim acosta. And the virus is spreading, but the white house is continuing to downplay the outbreak. That is right, wolf. Mike pence is going to be out here shortly the give another briefing of the Coronavirus Response. As you know the president was visiting the cdc and talking to reporters about what is happening in that facility, and in the meantime, the white house under scrutiny for some of the assessments they have been offering for the administrations Coronavirus Response. The officials are saying that coronavirus has been contained when the data shows that it is not the case. Reporter with President Trump urging americans to remain calm and avoid panicking over the coronavirus. You have to be calm. It is going to go away. Reporter the Top White House officials are misleading the public about the true nature of the outbreak insisting that it has been contained when the data is showing that
I’ll admit to a bias about news of a corporate merger or takeover: It’s often a good thing for a small group of insiders and poor news for employees, customers,