European central bank announced a 750000000000. 00 euro package to mitigate the Economic Impact of the coronavirus meanwhile oil rebounded more than 20 percent after reaching the lowest level in 18 years this was the best day on record for oil there of course huge year to date losses still here there is so much to get the lets bring in who must cohost christiane who joins us from Los Angeles Christy what is happening in markets today. Well brant the 1st sentiment every morning still seems to be to sell everything although this morning was the 1st time in a week that there was no overnight limit up or down trying to hold in the s. And p. Futures perhaps it is the case that systematic funds now have little left to sell nearly 2600 of the 3100 n. Y. S. E. Names are currently on the short sell restricted list and were now approaching quad witching friday tomorrow which has historically resulted in increased volatility so the question is what did that people sell into well at the center of
Quarantines and social. Now becoming the norm streaming sites like netflix have seen their viewership skyrocket but could this traffic pose a problem amid efforts to combat cope with 19 we have a jam packed show today so lets go and dive right in. And markets throughout the west have bounced back lightly after taking a drubbing this week in the u. S. President donald trump is continuing to say hes working to stabilize the economy but working with congress to provide major additional relief to the workers Small Businesses and the hardest hit industries we want to make sure that everybody is able to continue on so that when we recover all of these companies and these. Great business is very very small and very very large its not going to be broken up and you have to put it back together that would take a long time and in europe most indices closed up around 3 percent after the europeans. Announced a 750000000000 euro package to mitigate the Economic Impact of the coronavirus meanwhile oi
Writing in part, your Second Amendment right is no longer considered essential. The sheriff responded and said you are not an essential business please follow the health order. This is a live look at the city of oakland. There is an Emergency Relief Fund for people affected by covid19. This includes senior citizens, Small Business owners and first responders. And embattled Bay Area Hospital will play a role in the fight against covid19. They were facing closure now it will be least by the state of california. The facility has 357 beds. Officials say they expect to use them all with a 2. 7 million monthly payment. Making sure the area is contained and safe is critical. Theyre going to be certain stores that are going to be designated for those patients. The state has 74,000 staffed hospital beds but will need 20,000 additional beds to achieve that. The state is looking at 960 hotels around the state. Other options include trailers and comp is excuse me campus from colleges. Reporter we
European central bank announced a 750000000000. 00 euro package to mitigate the Economic Impact of the coronavirus meanwhile oil rebounded more than 20 percent after reaching the lowest level in 18 years this was the best day on record for oil there of course huge year to date losses still here there is so much to get the lets bring in who must cohost christiane who joins us from Los Angeles Christy what is happening in markets today. Well brant the 1st sentiment every morning still seems to be to sell everything although this morning was the 1st time in a week that there was no overnight limit up or down trying to hold in the s. And p. Futures perhaps it is the case that systematic funds now have little left to sell nearly 2600 of the 3100 and why ac. Names are currently on the short sell restricted list and were now approaching quad witching friday tomorrow which has historically resulted in increased volatility so the question is what did that people sell into well at the center of
The dow gaining 188 points, nasdaq surging 2. 3 . This is an important snap back because it gives us a glimpse into the future. Lets start with the set up. If you listen to the wise men of the hedge fund energy, theyre telling you believers will be crushed. They loved the market a month ago. Many of their fears are legitimate they have trillions of dollars in debt. The Oil Companies alone owe hundreds of billions of dollars. They cant pay it back in crude. Airline is toast supply chain could cost 60 billion. The hedge funds i listen to, well, theyre warning of 25 unemployment thanks to the government mandated lockdown. Thats not a great recession, thats Great Depression with a c. You cant have a Restaurant Industry if youre an allowed to go to restaurants. Hotels sold to you malls, malls are bowling alleys. Actual bowling alleys, baby boomer storage lockers arcane dollar trades, ooh, really scary, devastating. And as Small Business finished time to break out the apple stands and the sa