We have a show full of chief executives and experts when it comes to treasuries. We will have a conversation with scott f. Thiel shortly. This is what markets are doing. Charts withuple everything from s p to growth versus value stock. Oil is pretty much study. Decline in banks. That is pulling stoxx 600 index down. Crude, i look at it every day because of what we are seeing. Around 32 a barrel in new york day rally. Four we will have market checks every 15 minutes. Lets get to the bloomberg first word news. President trump is hoping reopening the economy will dampen the need for another round of stimulus. That is shared by republican leaders, with Mitch Mcconnell sang the only way out of the crisis is for america to grow again. President trump is predicting a great thirdquarter. Talks have soured with the u. K. Negotiator accusing the eu of offering a low quality deal. David frost says it is unworthy of the fair trade agreement. Michel barnier a says they want to keep the benefits of
Marketing your money. Plus as mentioned, we are waiting, to hear from the white house. First the briefing from the press secretary in over a year a used to be a daily occurrence. We will take you there live when that begins. There is a shot up and theres the podium and the press secretary Briefing Room. Millions of workers around the world marking mayday today with protest, not only for the working conditions but for relief on things like rent as the Unemployment Rate skyrockets. We will have a live report, all that and a lot more coming up on making money. Cheryl wall street suffering a deep selloff as we await, we have the wide picture right there, theres the Briefing Room at the white house, the first formal press briefing that weve had, more than a year, 2 00 p. M. Eastern time, the good old days. This is her second week on the job, the press secretary expected to take questions obviously on the coronavirus outbreak and President Trump threatening the use of tariffs against china.
Were at the lows of the day thats where we are. About a 600 point loss for the dow. Nasdaq a bit more than that. The russell which has been a real outperformer giving back 5 now. S p coming off its best month since 1987 we have come a long way off the lows april was an incredible month. We said best since 87. Are we primed to go higher in may . Are we poised to go lower because of how far we have come . You know my answer is i can make the case for either way but what im going to tell you is the weekly closing candle is disgusting now we had a huge comeback but even at its peak which i guess was some time yesterday or the day before, only 0 of s p 500 names had gotten back above their 200 day. So you had almost a third of the market back in some semblance of an up trend and we rolled hard look whats rolling. All of those beaten up names that rally this week, the airlines, the oils, the stuff we said okay, thankfully those shareholders got a breather trashed again today. Rollovers and h
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
Money. Well go right to the boards today and show you a sea of red. Dow is down 600 points s p 500 down about 3 . Nasdaq, technology has been, as you know, a bright spot of late but thats selling off harder today. Nasdaq down about 300 points all right rob, good to see you, beard and all. Here we are in different place than we were on march 20th when you spoke about the pessimism being palpable in the market that we were in panic mode, as you said almost speaking that things needed to turn in a more positive way nonetheless, josh brown, ill come to you. The point i was going to make is there was a point in time where pessimism was palpable now were at a different place we have come a long way. The second day into this week well have our back to back down days if this holds today how should we be thinking about stocks here . Im glad you cut to me. Robs beard looks like it sold some kids fake id in an alley somewhere. Lets talk about that palpable sense of optimism. People that changed t