Record. A decade on commodities are seen as australias savior. Rising demand and expansion plans may ease the recession. Shery lets get you started with a quick check of how market are trading. U. S. Futures up 0. 25 after a brutal session in new york. Stocks tumbling the most in three months. Every company on the dow was down today, all 30 companies down. Almost nothing was spared. The s p 500 seeing the biggest decline since march 16. At one point nearing that 7 threshold that would trigger a pause. We saw the big gainers in recent weeks like airlines, travel Companies Taking the brunt of the selling. We had concerns over a second wave of infections across the u. S. , also a lack of further easing plans from the fed potentially dampening the recent rally. The nasdaq was down or than 5 . We saw the dollar treasury surging the most since april. Lets see how things are shaping up for asian markets. Sophie kiwi stocks up more than 3 . Asian benchmarks have been slashing. A pullback looki
And this is the one bit to show you cant afford to miss more in washington coming up also the ongoing global unrest and provirus has been the Oil Price War between opec member we catch up on the moves in the oil sector where demand stands amid the drop in travel plus i. G. M. Has announced that the company is stepping out of the facial recognition game after growing outrage surrounding the practice we take a dive into the Controversial Technology and how the firms stock is reacting we have a fact show today so lets dive right in. And the United States has officially entered a recession in february of this year ending 128 months of economic expansion which was the longest run in more than 150 years. According to the National Bureau of Economic Research now the announcement from this organization comes much earlier in a recession than they generally like the any b r wrote about the situation saying the unprecedented magnitude of the decline in employment and production and its broad reac
We can get above that 200 day. I have to tell you, once again, what causes a decline its always the banks. Why the banks . Because we cant value we cant value them because we dont know what their future loan losses are going to be. I think that the feds chilling statements made for a tremendous confusion because, remember, weve been skating everybody has been saying how can the market almost bet a its high the answer is because we dont have any data. No real reports that contradict that i didnt like the nike quarter, but people already apologized for that it is the banks and, once again, when i think of the banks an article today about credit cards and how people arent taking the big credit cards with the 400 and 500 fees. David, the credit side continues the buyers jim, that is really interesting to see when we start to get the earnings where the focus of investors is. After the close we get jeffries. Investment banking not overry large but what will be interesting, jim, im sure well
Run into the house like they dont want to they dont want to talk see her get your mail or anything like that. I just want to go. Back and do that. Just try read a. Good chance someone give me. And this is the one bit the show you cant afford to miss more in washington coming up also the ongoing global adolescent kroto virus has been the Oil Price War between opec members we catch up on the move. Moves in the oil sector and where demand stands amid the drop in travel plus i g. M. Has announced that the company is stepping out of the facial recognition game after growing outrage surrounding the practice we take a dive into the Controversial Technology and how the firms stock is reacting we have a fact show today so lets dive right in. And the United States has officially entered a recession in february of this year ending 128 months of economic expansion which was the longest run in more than 150 years according to the National Bureau of Economic Research now the announcement from this o
A recession than they generally like the any b r wrote about the situation saying the unprecedented magnitude of the decline in employment and production and its broad reach across the entire economy warrants the designation of this episode as a recession even if it turns out to be briefer than earlier contractions now economists generally define a recession as 2 consecutive quarter months of 2 consecutive quarters of Economic Contraction g. D. P. In the us has already fell by 5 percent in the 1st quarter of this year and the economy is expected to climb by a steeper margin in q 2 of 2020 lets get some expert analysis on this and and the state of the economy with todd morris chief strategist at bubba trading and cohost christiane who joins us from los angeles thank you both for being here today but i want to start with you now the end declared that the u. S. Recession began officially in february now this marks the fastest and b r has actually declared any recession. Is this a good thi