Last weeks big rally with saudi arabia and russia feud over cuts the oil market taking a hit today. We do have full Team Coverage of these markets for you. Bob and rick covering the action in stocks and bonds. Steve on the latest economic fall out from the virus. Bob, well kick it off with you and this rally that just keeps building it started early on we got right up great overseas numbers. When Governor Cuomo started talking a couple of hours ago, we moved up on his comments on hopes for plateau. The market took it positively. I want to point out that we are, i call it markets in the middle. Were now 20 off of the lows from the february 19th high, were now down 22 remember at one time we were down 35 a bull market to bear market to i dont know how to characterize characterizeize this morning were 20 off the lows the most beaten up are rallying the most retailers they are a big today wayfair up best day since march 26th for the banks. Here are some of the regional banks. Sta stap stap
Will have issues producing energy so lets go out and buy 10 billion or 20 billion worth of oishlgs fil, fill up the res. The oil market has nothing to do with the coronavirus other than theres just a lot less demand at this point. But youre right, unprecedented issues. Maria yeah. No surprise, russia would pile on just in the middle of a crisis for the United States and say im not going to cut production. Secretary mnuchin, a pleasure to have you. Thanks very much for the clarity. We appreciate it. Thanks, maria. Great to be with you. Maria see you soon. Secretary mnuchin. We cut into varneys time. Stu, my sincere apologies. Varney Company Begins right now. Have a great day, everybody. Stuart good morning, maria. Good morning, everyone. If i may just say very quickly, the key sentence to me from listening to secretary mnuchin was we will destroy this virus and the economy will come roaring back. We will go back to a normal world. Good morning, everyone. Lets get going on the program. A
The s p and dow. Nasdaq gains which it saw on friday. For the nasdaq and s p and russell 2000, it was the worst month in the year. For the s p and nasdaq with the dow slumping 3 . Nasdaq down 5. 8 for the month. Treasuries is the big picture. This is why we see the weakening. Treasury markets are picking up. 10year is now 4. 74 . The 2year treasury is up at 5. 11 . Mortgage prices are ticking higher. If you want a 30year fixed mortgage, you are looking at 8 . Check out the price of crude oil. Crude oil prices with energy back on the rise. Up to 91. 50 for wti. Brent at 93 a barrel. Joe talked about bitcoin. Picking up to 28,300. Up 4. 4 . Joe, the reason behind this is because gary gensler etf comments. I saw any Government Shutdown would delay any consideration for the spot etfs that everyone wants. Because the s. E. C. Staff would have been out and nothing gets approved. Does that mean i think they are thinking about it. They have been thinking about it check your watch. Thats a big
Cover story is an essay on code. Bottle it seeks to explain the inner workings of computers, apps, and software. And provide an inside look at the lives of the programmers who build them. It is the longest article the will and will magazine has ever you run. Joining me now is josh you will tyrangiel, the editor of Bloomberg Businessweek, and will of Bloomberg Businessweek and paul ford, the author of this piece. Great to have you. So just tell me how this all inso just tell me how this all a came about. Josh it came out through ignorance and a lunch. And [laughter] you and [laughter] you will and you and you will you josh so the ignorance is mine. I have been working on a website for 12 years. To be charitable, i understand about 50 of what is going on. When you talk about how youre going to build a website, with the architecture is, and i am trying my best to follow it. Boy, it is hard. I come from a liberal arts that ground. I hope to have many decades in my career. Knowing what litt
Cover story is an essay on code. Bottle it seeks to explain the inner workings of computers, apps, and software. And provide an inside look at the lives of the programmers who build them. It is the longest article the will and will magazine has ever you run. Joining me now is josh you will tyrangiel, the editor of Bloomberg Businessweek, and will of Bloomberg Businessweek and paul ford, the author of this piece. Great to have you. So just tell me how this all inso just tell me how this all a came about. Josh it came out through ignorance and a lunch. And [laughter] you and [laughter] you will and you and you will you josh so the ignorance is mine. I have been working on a website for 12 years. To be charitable, i understand about 50 of what is going on. When you talk about how youre going to build a website, with the architecture is, and i am trying my best to follow it. Boy, it is hard. I come from a liberal arts that ground. I hope to have many decades in my career. Knowing what litt