Data and overnight we got some fresh stimulus from china from the pboc that providing some support as well as investors look to the opec plus meeting now due to take place on thursday to see if saudi arabia and russia can come together with other Energy Leaders and agree a cut to Oil Production lets take a look at the different regions and what the split looks like that way. We have the dax up northemore t ftse 100 up 2. 4 the sad news we brought you, Prime Minister Boris Johnson has been admitted to the hospital. Hes had persistent coronavirus symptoms for ten days. Hes taking some precautionary measures by going to the hospital now cac 40 up 3. 5 in italy, the ftse mib is trading 2. 3 higher. Lets take a look at autos you can see daimler shares up 6. 3 volkswagen up 7 porsche up 8. 1 . Weve heard from automakers taking steps to shore up their Balance Sheets to shore the crisis investors responding as well renault up 12 some major moves the china angle, one of the more cyclical move,
As many as 100 employees at amazons Staten Island, new york, Fulfillment Center, plan to walk off the job claiming the company is mishandling its response to the covid19 outbreak we speak to the protest organizer coming up. Its march 30, 2020, and you are watching cnbc. Good morning and welcome to the show im dominic chu kicking off this monday morning with markets in turmoil once again after the dow fell nearly or more than 900 points as you can see on friday wall street is looking to pick up where it left off futures indicate 165point drop at the opening bell. If these futures moves hold, the s p down by 10 and the nasdaq up by 1 point at this point this is, by the way, the first time in about a month we havent woken up on a monday morning with futures socalled limit down or stopped because of downside price action. Checking the futures over the past 12 hours, you can see the move has been pretty volatile. Weve seen green substantially at one point all the way down to where we are no
Debut four months ago. Who is this . Why are they so . Why so many questionmarks on the graphics we find out the answer to all of those. Riddler. Exactly lets start the program with the big stock story and market story really of the day. And that is apple. A stark warning on revenue gue are due to the impact of what else, the coronavirus. The iphone manufacturer tumbling today but finishing well off lows go to josh liptak. With more on what apple said and the reaction josh. Thats right, brian apple finished in the red today but maybe not hit as hard as some expect. Many analysts weighing in and concluding its a shortterm challenge. Meaning they think the demand for apple products simply shifts from the march quarter to future quarters there is still a lot of uncertainty and questions. How long does in outbreak really continue how long before chinese consumers feel its safe to go back out and shop . Remember apples only has 7 out of 42 stores reopening even those with limited hours appe
Lets give you a look at futures on this opening of the day of the week. Most european markets also back from the holiday break, although i believe the uk closed for a bank holiday. There you see the markets that were open. More or less in the green this morning. The tenyear note yield, price was down a bit if i recall. There we are on the yield there, around 2. 56 with crude up yet again. Weve also got some breaking economic data. The latest s p case showing home price reports out. Prices registering 5. 6 yearoveryear gain and that was up from a 5. 4 gain in september. So sequentially an increase there. Lets get to our road map. And it begins with the march to dow 20,000. With just four trading sessions left, will the dow hit the milestone by the end of the year . And president elect donald trump announcing plans to dissolve the Trump Foundation ahead of inauguration day, plus tweeting about the market rally and holiday spending. Well give you all the latest. Plus retailers bracing for
To get our attention. Joe, its up 43 in a year. Its been running almost every day since the election. So its not necessarily the best place for your money but it is one of the places for your money and it should be there. Well talked a couple of weeks ago heading into earnings about the importance for Financial Institutions to contribute once again. Understand the russell index, not the etf, iwm, russell index has signature cant ificant exp. Mid 20s. You are seeing the appreciation of financials. Both jim and josh have talked about the disappointment that investors felt a couple of weeks ago. Financials once again with are good. 2 to 10 spread, thats moving in the right direction once again. Tenyear treasury lifting. These are all good conditions for the financials and russell index. Why not . Its its not when i say not the best place why not . It is one of many places. I think to have an overattraction to any asset class, thats not the right discipline or Risk Management strategy. Jim