Storage is limited amid the coronavirus prices. Oil closing, folks, at the lowest point ever seen since the original Oil Futures Contract began trading back in 1983. The drop is choking the stock market. We are very close to session lows at the moment, with the Dow Jones Industrials down as far as the biggest percentage loss here, 2. 25 or 534 points to the downside. The market action, believe it or not, would actually have been worse if it werent for the fact that we could be just about 72 hours away from another half a trillion dollar infusion from the federal governments financial fire hose, as congress inches closer to a deal to replenish the Small Business loan program. Congressman kevin brady, republican of texas, is the Ranking Member of the house ways and means committee. He is here live and we are going to ask whats going on behind closed doors as best he knows, and whats the plan eventually to pay for all of this spending. We are learning that some of the rescue money went wh
Least a gradual return based on local conditions starting in may. Now, in michigan, protests are expected today and that states strict stayathome orders are in question. Thats going to be an indicator of public sentiment after weeks of lockdowns. On the international front, china is now very much in the spotlight. Frankly, its a target. The president s cutting funding for the World Health Organization. Mr. Trump says the virus could have been contained in china if the w. H. O. Had been more honest. And senator cotton and congressman gallagher introduce a bill today that would end americas dependence on chinese drugs and pharmaceutical ingredients. The virus is clearly changing the u. S. china relationship and everything else, of course. On the market, it is all about back to work, when, where and how. On hopes of a return to work, the dow has moved up close to the 24,000 level. It had dropped to 18,000 level last month. The dow was up 500 yesterday. Looks like all of that gain will be
Who holds himself out as paragone of d. C. Virtue. Now, seriously trying to topspin today to protect his own personal miss. After a stinging rebuke by the doj Inspector General who found dozens of times comey broke the rules. He is a dangerous example for fbi workers. That is what the i. G. Says. He failed to protect Civil Liberties in order to manufacture a special counsel probe to bring down trump. The debate how comey embodies everything voter fears about the deep state. How comey again, today, continues to be disingenuous with misleading tweets. Also, more officials could be in trouble. To the markets, popping news on china, now wants to resolve the trade fight. Those china tariffs do kick in on sunday. The hot debate, stopping this fight, will it stop the medias recession obsession . We have pro and cons debate there. Democrats reportedly ringing a fire engine red alarm bells. Democrat national committee. The house is on fire. Youre still smoking in bed. Youre making same mistakes
In europe and japan, Government Bonds pay no interest at all. In fact, when you buy a Government Bond there, you dont even get all your money back. Never in Human History has the lender paid the borrower. Rates are tumbling. This amounts to a worldwide race to the bottom in Interest Rates. Where it leads, i dont know. But its now very likely that our Federal Reserve will drop rates aggressively from here on out, simply to keep pace with everyone else. If they dont, the u. S. Dollar will keep going up, keep disrupting our trade and our economy. I thought that with all this free money flooding into the world, that a lot of it would go into the stock market, our stock market. That is not the case, at least not right now. The dow will open with a big drop, over 250 points to the downside and there will be losses on the s p and nasdaq as well. Other markets are convulsed by it all. Look at gold. Theres a rush to the safety, what they think of as the safety of gold. Its back above 1500 an ou
What he says he will tackle next. Why it could be odds with one republican leader in congress. While the president touting new law as largest tax overhaul in decades. Polls showing americans are not quite on board. The Koch Brothers network now spending millions of dollars on ads selling the benefits of the plan. Were speaking up the man heading up this project. Freedom partners, executive Vice President , james davis, among our guests, steve forbes, zane tankel, John Hofmeister, former president of shell oil. We have a full show. Lauren we do. Get back to the down markets. Another down day for stocks despite passage of tax reform and avoiding a government shutdown. Nicole petallides on floor of new york stock exchange. End of the week, nicole, we didnt see a santa clause rally. People are very cheerly. There is a lot of optimism. It got quieter towards end of the week. We had a great day on monday. Were up for the week. In fact five weeks in a row of gains, almost 1400 points. So, up