Conference in the white house rose garden is imminent. Hes expected to declare a National State of emergency over the deadly coronavirus pandemic that has taken the lives at last count of 41 americans and infected more than 125,000 people around the world. As we await the president to appear before the m cameras, we will take it the second it happens, markets on the verge of closing out the worst week since october 2008. We are firmly still in a bear market right now. What if anything can the president say to pull the markets out of this weeklong tailspin . To our floor show traders. We are teeing it up in front of the president. You have been on the markets front line. Tom at the nyse, phil at the cme. What Market Indicator will you most closely watch as the president speaks . Well, we saw extreme fear yesterday and they always say when no ones worried, thats the time to worry. Well, yesterday everyone got worried and they came out with massive action. Mnuchin reminded me of mario dra
Through a revolution what will 2020 bring and what names should you buy were going to begin with todays markets and bob pisani at the New York Stock Exchange. Happy new year. Listen, joe, we are way off of our lows lets take a look at the major average. All three of them still down, yet things are moving in the right direction. Apple turned positive. Nasdaq down here today dow industrials, youll see theyre down 95. S p we were 3216 was the low there. Take a look at the s p 500 essentially the lows were at 10 00 a. M. And buying came in. Its not heavy buying. The volume is about average for a day. But remember, this is supposed to be a very light volume week, so even average volume is better than normal. What has been weak in the market were way overbought, so big momentum names would be selling off. So semiconductors, Home Builders have been really strong, tesla is weak. Master card and visa, big momentum names, all of this makes a little bit of sense when youve had the price runups wh
S p down just over a point and the dow down around 27 points. A lot of this watching what was happening in the market. Seeing the facts and circumstances that yield has continued to pick up as well getting to washington lawmakers voting along party lines to impeach the president we have more now good morning the House Chamber got a little roudy as leaders from both parties made their final speeches democrats did not choose this impeach. We did not wish for it i see coming out of a president who will put his head down and do his job. He will put the American People first. Ultimately, both articles did pass on mere party line votes and the discussion has merely shifted to what comes next House Speaker was not committal when asked whether the democrats will send the article over to the senate she even got a little combative after the vote well make a decision when we see what they are doing on the senate side. That is a decision well make fluently the Senate Majority leader does plan to m
Whether jay powell will cut Interest Rates further. And big earnings on deck, disney and wynn after the bell joining us courtney. Tell us how youve navigated the last 24 hours. You know, its been really, really interesting when you look at where the vix has been in august, were hitting 25 i think in july we ended around 12 that volatility is incredibly interesting. For someone like me thats looking to buy positions on the dip that i think are quality positions to buy and hold, it was a really good time in my opinion to do that interestingly enough on our desk at Loop Capital Markets we saw a tremendous amount of low, probably in the overnight markets, probably the most active weve seen all year. Buying or selling interestingly enough, buying. Some very balanced program bus we also saw a number of our fundamental clients buying in developed markets and a little bit of selling or less buying, well say, in some of the emerging markets so were starting to see some of that flight to quality
Merger deal with pfizers generics unit. And disney domination. The studio breaking an alltime record for annual box office earnings, and of course, it is only july. So, theres a lot for investors to digest this week with stocks at record highs. Jim, coming off of those on friday, you were out, but a lot happened good to have you back. Thank you the starbucks calls kind of the emblematic of what happened this quarter. Starbucks had run big. So you had to figure, no matter what, how could it really move then it goes up big dollars because its better than expected, better than feared what were seeing are companies that we were worried about because stocks have run, and then the stocks do okay. So, this is a short sellers dilemma. Lets say youve been betting against companies because you truly believe theres been an earnings deceleration. If earnings just stay in line, the stock flies. If earnings are a little bit below, the stock doesnt do anything. Right. So, theres just this kind of bid