Which prevent michiganders crossing the street to visit family members. No relaxation of the social distancing rules from President Trump. Hes considering extending the keep your distance regulations into the early summer. Then theres this. Antibody tests that show far more people have been through covid19, three million in new york state, 20 of new york citys residents have had it. That means the fatality rate, the number of people who died from the virus, comes way, way down. Interesting. Quickly to the markets. Not Much Movement at the open today. Orders for durable goods in march down 14 , yeah, thats bad but it was expected. The dow is going to be up 193. I call that little movement. How the times change. We will be back to 23,500, big gain modest gain for the dow, nice gain for the s p and for the nasdaq as well. Look at oil, staying at low levels. We are looking at 17 a barrel. In the absence of demand, we are still not driving very much, we are running out of places to store al
And crude is taking a spill as well our road map begins with breaking news as china retaliates announcing those new tariffs on u. S. Goods. Well go live to washington with details. The moment of truth. Jay powell is just an hour away from speaking out. Obviously the big event fed chair powell fed harker does not see a case. I am on hold right now. My forecast is just hold where we are for exact one of the reasons is that. I think we run the risk of creating too much leverage in the economy. My sense was we added accomodation and it was not required in my view. My view with this very low Unemployment Rate with wage rising with the inflation rates staying close to the feds target i think we are in a good place jim bohlullard made his caser lowering rate. Whats the market going to be the next five years. You adjust it for pc market is about 1 or 1. 1 inflation so we are supposed to hit our inflation target thats one reason why i argued that we should get lower well wonder whether powell i