Business closures as well as layoffs. We will show you how markets are reacting as well. Eugene scalia and richard will join with me about the jobs picture, what they have to say about the jobs market, stimulus package and what lies ahead for the u. S. Economy. Twoday rally for the dow and s p 500 poise to come to an end today, future pointing to losses, down 200 points. Down 93 on the nasdaq after gains of wall street yesterday but markets did close off of the highs of the day, in fact, the nasdaq as you could see finished negative. Dow industrials yesterday up 409 points at the close and the s p was up 28. President trump says parts of the u. S. Could be going back to work in a few weeks participating in a Virtual Conference with g20 leaders today working on a coordinated response for the coronavirus pandemic. Plus americas biggest music star coming together for iheart living concert for america. Special feature includes elton john and alicia keys. Mornings with maria is live right n
Stabilize and support the financial system, support and rescue. Its moving quickly. On the ground, it is grim. 22 states have deployed the national guard. The virus is now infected all 50 states and d. C. And this is a first, kansas closes all schools for the rest of the school year. Its beginning to sink in that many of us will be confined to our homes for weeks and millions will not be getting a paycheck. You are waking up to an anxious america. Theres an eerie feeling when you see empty cities, shuttered businesses and a country thats really grinding to a halt. Now the markets. Limit down before the opening bell. We might be 5 or 6 down in early trading. Remember, if the s p goes down 7 trading is halted for 15 minutes. We have already seen that twice. The dow, s p, nasdaq limit down, big red arrows right there. Look at this. The yield on the tenyear treasury is now 1. 12 . So money is coming out, repeat, out of treasuries. Why is that . In part because some investors have to cover
A move like we saw yesterday doesnt typically begin the recovery from a dow turn the likes of which weve had, does it no this is one of the greatest oneday bull markets ive seen. You had to come in at the darkest hour, if you didnt, youre coming in on total quicksand. We had a move that was so accentuated by the machines, algorithmic. They exacerbate which ever direction it is. I hate it as much when it goes up as when it goes down, it brings in a lot of people who think maybe its all clear its not all clear its almost like youre lucky if you bought yesterday and you should ring the register today weve seen prices that will hold up but everything ive heard this morning is about how were ready and open for business, but no one talking about going to where theyre ready. Boeing, yeah, thats great you want to fly . When do you want to fly again . Thats a great question, jim. When you talk about what life is going to be like once the crisis passes right or when people go back to socalled no
Jim, its clear that even though we had some constructive things happen tactically yesterday, sounds like you dont expect this bounce to last for long were the most oversold weve been i guess you could go back some people say get some great stuff from mr. Williams who is one of my favorite technicians, larry williams. I want to point out, hes done work which says going back to 1933 this is one of the most extreme panics ever. He wants to buy panics on the other hand, you say whos there to buy i feel that were due for a bounce i dont know how much money there is there is to buy much more stock liquidity is a concern in every aspect of finance, at the same time any time you skip over the Public Health issues, you forget that right now strapped in san francisco, strapped in boston, strapped in new york maybe theres not just equipment. The nightmare is occurring what do we make then of stei stifel looking for a 15 rally, gun gundlach not shorting. Why are there these Little Pockets of not o
We need to tweak it. Lemonis his sales pitch definitely needs work. I think you guys have done a [bleep] job explaining to them why they need to own it. And his Business Plan needs a reality check. I think your numbers are obscenely wrong. If i cant get him to loosen up and work on collaborating. Ethan i think there were a lot of people that were saying the same thing about a car, when henry ford came out with the car. They were happy with the horsedrawn carriages, but i think that, you know, longterm, worked out in a different way. Lemonis . This company may be up a creek without a paddle. Weve got a deal . Ethan uh. Uh, well, i, the. Um. Lemonis my name is marcus lemonis, and i risk my own money to save struggling businesses. Were not gonna wake up every morning wondering if we have a job. Were gonna wake up every morning wondering how many jobs we have to do. Its not always pretty. Everythings gonna change. Everything. But i do it to save jobs, and i do it to make money. This. Lets