In just a few moments, we will be joined by the double line ceo jeffrey gundloch well get his take on all things market lets check to board to see where it stands. Russell 2,000 having have strong day as well. Everybody, its good to see you. Its a big week. How much is riding on it, do you think . Well, i would say here, i think this rally is going to get exhausted bit. I think were at a point many the rally where a lot of thing vs to go right in order for this to continue. This has really been driven by macro news we have to look at fundamentals. The expectations right now are a strong recovery starts in the third quarter. Youve got the major averages have done incredibly well, 30 plus . Nasdaq, you go inside the nasdaq, facebook, amazon, alphabet 25 and some cases higher than that tech better live up to those gains. These earnings, this week all of those heavy hitters are coming down the pike. They better live up to this v shape bounce that the market has given us, right . Technology
Any minute now Vice President mike pence is holding a Coronavirus Task force meeting at the white house. As number of confirmed cases continues to rise across the globe. With at least 73cases right here 738 cases here in the u. S. Well bring you any headlines from the meeting this hour. Fox Business Team coverage. Blake burman live at the white house. Deirdre bolton is on the floor of the new york stock exchange. Phil flynn is watching the action in oil at the cme. Edward lawrence is on capitol hill. Deirdre, well kick it off with you. 1100 points on the dow is worth something. What a crazy volatile day. We closed at highs of the session which always makes people feel good especially in light of what happened yesterday. This idea President Trump is considering or launched the idea in a meeting this afternoon of zero payroll tax cut for the rest of this year. Certainly giving us a added boost to the markets if you like. As far as the groups that really supported the markets the most, yo
It was greatly welcomed by the egyptian minister of finance, and a joint committee between the ministry of economy of iran and the ministry the egyptian finance was formed to pursue joint projects. Also, as you know, we had a joint bank between iran and egypt for decades. The minister of Economic Affairs and finance also announced positive talks with the head of the Asian Infrastructure development bank. We had good negotiations with the head of the bank to compensate for the past delays of our country in the field of using education to finance projects. The positive approach of the Bank President was announced and it was decided that his deputy will travel to iran within months and we have at least 3 projects whose documentation is completely ready for to use the investment capacity of the Asian Infrastructure development bank, we will agree with the Vice President of the bank and officially start the banking operations in order to use the Foreign Exchange resources transferred to 6 i
Thats the point where we see intervention. Some saying that 160 could be the in the sand. Certainly its the question of how meaningful and house of santa, how effective would any sort of Government Intervention be when youve got that ongoing cap between the fed and the boj . What we are seeing here for equities at the start of the day is a little bit of pressure, following what happened on wall street overnight because we had the s p 500 on its longest losing streak in several months. Really big tech bearing the brunt of that. Earnings and focus, given we have a number of big tech names reporting over the coming days. That could leave clues on the health of the u. S. Economy. Also whether we will see any sort of big ai led rally sustaining the momentum. Lets chains on. Take a look at whats happening in korea to start the day here. The korean won firm are here against the greenback. Six tense of 1 . Broadly, equities just modestly in positive territory. Fx has been a big talking point.
On tonights pbs newshour. Major funding for the pbs newshour has been provided by and the william and flora hewlett foundation, helping people build immeasurably better lives. And with the ongoing support of these institutions this program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Woodruff u. S. Financial markets battled all day to recoup its losses, then, collapsed under the pressure. At one point, the Dow Jones Industrials were up more than 440 points, helped by an Interest Rate cut in china. But the gains evaporated in the final minutes of trading, making it the sixth losing day in a row. In the end, the dow dumped another 200 points to close below 15,670. The nasdaq fell nearly 20 points, and the s p 500 slid 25. Ifill there was no letup in the stock selloff in shanghai, amid gathering gloom over chinas economy. Jonathan miller of independent Television News reports from hong kong. Report