Continues to rise significantly in terms of the virus and we talked a lot and well hear from meg again and meg has been following it so closely for us and the market only seems to go up as the cases go up. That is leaving some people scratching their heads and others view it as were going to get to the other side and a view of what the economy will look like and then you come back to the fed, carl, which seems to be the fuel that everybody sort of points to as the key fuel, i should say, for this market. Yeah. Morgan, lots of notes over the long weekend and we hope everybody did have a great, long weekend. More debt and liquidity and asset reflation. That was literally the title of the jpmorgan note on friday. Yeah, for all those folks that were basically still stuck at home or not traveling and getting on airplanes, lots to digest in terms of market commentary over the weekend. I would add to the fed, i would add the expectations that do seem to be baked in around what phase four fisc
Talking with andrew about what exactly got washed out yesterday. Hard to say a lot when hertz is up 50 premarket. I mean, look, it is kind of a comedy of errors, no insult to the board. Really there is a Bankruptcy Code and maybe hertz management got permission in the old days when you went bankrupt there would be a little bit of a stump of stock so that you could go and sell it and show the irs that you had taken the full loss carl icahn sold a ton of the stock in the 70s, he sold 38 . I think if he had known that there would suddenly be a new stock he would have hit that bid. If i were him id sue. Id sue right now. I would just hire a lawyer and sue because he sold at what the company was advertising as a bankrupt price where the common stock was and he has i think a right to be able to claim 38 of this money and i urge him to do so, to hire a lawyer and get the money because this is just ludicrous. Well see what the court says i think theyve got to get to 4, right, to get to a billi
Second week in a row that its starting out just in the right way. Yeah. I think theres people who just feel that this great shutdown is over obviously its worldwide the spending will begin again. I keep hearing that theres a surprising number of survivors that its not as bad as we thought. With the exception of some mortgages and some credit card, the forbearance wont really reverberate through the system reverberates to the banks. I know theres people who want to try to get the banks going. I say stick with whats working. I know its boring i know people want to rotate its something that Portfolio Managers love to do. I dont like to rotate into any stocks that have numbers cut thats really important. Im looking at david faber, who looks, of course, fabulous im thinking about him because its the credit markets we have to worry about, not the stocks they look great. Whats your concern in the credit market specifically, jim . Like hertz. Its not like theyre nothing. Hertz owns a lot of ca
Data and their stock sale this week but first, we are just getting the minutes from the last Federal Reserve meeting. It was a major one, consequential. Steve liesman digging through that release right now well give him some time to digest and dig, well hear from him in a minute. In the meantime, kelly, back to you. Tyler, thanks we are awaiting the headlines from the fed minutes stocks are in rally mode right now, as all 50 states have now eased lockdown restrictions in some way lets get over to bob pisani who has more on the markets for us bob . Im dying to hear more about what mr. Powell said in the fed minutes. Mr. Powell has been much more aggressive in talking about the need for more fiscal stimulus. Im sure that will come up in the minutes. Stay tuned for steve ive been talking about broadening in the markets. Were not far from the highs today, but what you want to see happening, the broadening, its happening again today. The banks are up, the transports are up were seeing moves
Economies trying to rio, maybe not reopen, maybe not straightaway, but starting with france in phase two and starting phase two on may 11. There is hope we have bottomed out when it comes to the economic crisis. I am seeing euro movement. Here is viviana hurtado. Viviana the white house is backing away from a projection that shows the coronavirus out rate getting much worse in the u. S. And says by june there could be 200,000 new cases and 2500 deaths per day. The white house says that is a cdc document that has not and presented to the president. Neither allies nor opponents are happy with Boris Johnsons coronavirus plans. Lawmakers from his party want him to ease the nationwide lockdowns. Propernions demand protection for employees. Three months to fix it 3 trillion wanted tate of easing Program Quantitative easing program, this from the German Constitutional Court to the ecb. Claim the bank overstepped its bounds. Oil on its longest winning streak and nine months. For the fifth day