Todays action dow gaining 140 and nasdaq surging 1. 71 the market reflected everything going right, but totally obscured everything going wrong. Its a tale of two cities. It was the best at times and worst at times but on up days, we focus d on the best and ignoe the rest what do i mean lets start by going over the winners today to see what they are trying to say. You have to define them. They speak to you. The stars of reteail tell the story. The most important winner is amazon this morning, analysts who missed nearly the whole rally here took the recent pull back as an opportunity to upgrade it was very significant. I liked everything in the support from approval to the patience you see, he waited for a double digit decline before he pounced. Most people were flying. Not him. I like that. In recognition of the incredible strength with rapid delivery and the fly wheel approach he says buy amazon is there anything in this note actually, yes. You can make the same arguments about amazon
And up to 200,000 deaths. The president listening to his medical advisers and he has adjusted policy. The social distancing rules will be extended until april 30th. Therefore, the shutdown of the economy will continue well beyond easter. The president says the recovery will start by june 1st. On the markets, expect continued volatility. We have certainly seen that already today. At one point early this morning, futures showed a loss of a couple hundred points. Now we are looking at a gain at the opening bell of a couple hundred points. That would be almost 1 . A similar gain, better gain, actually, for the nasdaq, up about 1. 25 and the s p also up over 1 . A rally at the opening bell. Investors seem to like the idea of more pain now so we get out of it faster. The other big financial story is the price of oil. This is apart from the virus. This is the price of oil. Look at it. Its down to 20 a barrel. Earlier it hit 19. 20. 48 is the price right now. The saudis have declared war on Am
And change, the nasdaq up 224. Investors are hoping we have already hit that bottom from the coronavirus outbreak. Were not saying were hitting the bottom at fox business but were hopeful. All of this as the medical world is searching for solutions to limit the viruss deadly effects. Northwell health turning to 3d printing to churn out test swabs. They are going to be here to explain exactly what this means. Pretty exciting stuff. And the elf beauty ceo is here exclusively to tell us how his company is faring after the coronavirus has shut down another outlet that sells his products. Plus, liz claman wraps up her final day on selfquarantine focusing on workers as some amazon employees walk off the job and other businesses have the help wanted signs hanging on their front door. We are less than an hour to the closing bell. Im Cheryl Casone in for liz claman. Lets start the claman countdown. Cheryl we begin with some breaking news right now. We are just learning American Express ceo is s
Guy johnson in london. Lets get the first word news. China is on a mission to create an Aircraft Carriersized investment bank. They are opening up 45 trillion financial industry would also wants to beef up its own players to go toe to tell giants. At the moment chinas brokers dont have much of an international presence. Adding together the 131 brokers have about as many assets as Goldman Sachs by itself. Germany expects the nord stream 2 two gas pipeline to be delayed but it should be completed in the second half of next year. Costs are rising after sanctions u. S. Sanctions on the project. Of japan and south korea are holding their first formal meeting in 15 months amid a longstanding historical dispute that hit trade in the region. It also had a trilateral meeting between the three. Theyve reached International Cooperation on dealing with north korea. 2019 has been a good year for the superrich. Almostrichest man added 17 billion to his wealth this year. Over 11 billion. , bernard,nn
Court because some guy got stiffed over a sandwich. Its a relationshal story and i happening on this friday, august 30th as Worldwide Exchange, a free range show, begins right now. Stock futures are higher well show that to you in a second but look at this, if youre keeping score at home, these are your three topper forming sectors for the month of august. Its the final trading day after all. These are also the only three set to end the month in the green unless we get a super rally today which hey, we could. Dow futures are upright now. Utilities, real estate and Consumer Staples the worst performers, every month. Its energy. Energy again not a good run this week but it had a terrible run at the beginning of the month and Energy Financials and materials look like they will end the month lower although, i guess we get 3. 5 point run but probably not. As we get ready for the final day of august, trading day of august, lets see if this mini rally that were in can hold all major indexes t