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Down today. We will speak with an analyst on this later on. What else . We have claims data today. Pretty stable, which is concerning coming to be brutally honest, so we will talk about that later on. We will discuss what is happening with eugene scalia, u. S. Labor secretary. And we will talk about the people being affected by all this. Alix we cannot get into that without setting the stage for where our markets are. David kelly is joining us. David, you say there is another likelihood of a sizable correction, so when we get the headlines today like the florida covid19 cases are rising at 4. 6 , but new york is going into phase three, and texas is a stopping elective surgeries. How do we look at that . David what is clear is we have seen the northeast really dealt with the program very painfully, but they have pushed the cases down. And provided they maintain their behavior, which when you go around new york people are wearing their masks and people are being careful if you maintain t ....
Usually, but i had to take one i kept reminding you that good things can still happen. Sure enough today we got a confluence of great news that made people want to buy hand over fist. Buy, buy, buy, buy, buy, buy. S p up 1. 3 and the nasdaq pulled 1. 75 hallelujah. What happened what happened . Remember the consensus on wall street we were headed for recession, right well, then we learned that the white house has restarted trade talks with china we got some strong Economic Data terrific jobless claims number wrap it up i should have gotten a bow, wrap up a box and you have all the ingredients for a spectacular rally. So where do we go from here . Isnt that what matters . That was history before i break down my current world view let me give you some anecdotal evidence about where we are or at least where we thought we were until today. Im walking down the street going over to my small mexican place san miguel, you know what im talk ....
Cycle. It is the goodwrench time, where the brown sheets that we were looking for, turn into the compost. This actually ends up being good news. We actually start cutting rates. Sooner than expected it still hurts. The house of pain. That is why i want to walk you through the house of pain that you are going to experience. Watch mad money. I know you do. We can provide you with some novocain and anesthesia. We have updates on the today show where the p. O. W. Gained 15. 1 . That is a dip in 1 as well. You need to expect a vicious interday selloff, like we had today. The fifthplace coit. We await the next move. The commerce is working and running out of gas. At least in the short term. Very Good Companies will be left behind taking the stark stone. One of the single best performing stocks, one we have been learning for a long time. This is incredible. Seven years now. They just built one in brooklyn. They dropped the bomb on shareh ....
Yesterdays gains related to treasury yields tapering off. Coming back down after really watching them march higher. Above 4. 6 . 4. 54 is the yield for the tenyear treasury. We have seen calming down at this point of yields. We will see where that continues. Late last night in washington, lets talk what happened. Republicans passed three of four spending bills in the house and a push to avoid the Government Shutdown. Lets go to Emily Wilkins in d. C. With more on it. Good morning. Reporter good morning, andrew. You are right. There was a little bit of victory for House Republicans. Lets be clear, congress has no plan to fund the government before sunday at midnight. That means we are looking to have a shutdown at this point. The house and senate on looking to have progress today to keep any sort of shutdown as shor ....
Shanghai composite up by 0. 2 . The dax is down by 2 . The tenyear yield, 2. 24 . A couple of big headlines were watching. First one, crude prices. Wti crude trading higher after the ministers of saudi arabia and russia agreed needing to extend the cuts. Including russia agreed to cut output. Deciding whether to extend that agreement. A lot of folks will be watching for that. Also, a big developing story out of north korea, the Company Announcing the missile that carried a heavy Nuclear Warhead is capable of hitting targets in the pacific. The latest launch was widely condemned by the u. S. , japan and south korea. The white house calling north korea a, quote, fragrant menace. And urged allies to enforce stronger sanctions. And then on this weeks agenda, it say big week for retail earning. Those earnings have been not so hot. Home depot and tjx. And wednesday, target and ....