Out of congress as opposed to just these executive orders from the president that are taking quite a bit of heat over the weekend. Yeah, look, david, i think that there is a sense initially that it was a white house grab and it kind of went through the weekend, there was a recognition that, wait a second, maybe it is a grab if youre going to give 400, 100 has to come from the states and many of the states including red states are in trouble. The thing that is most compounding people is that 12 of the people who make 80 to 100,000 get this bizarre payroll tax cut when the problem is not the people employed but the people who are unemployed. I think that its arer so counterintuitive our old friend larry kudlow always believed in that. We have secretary mnuchin right now, which is terrific lets do it lets do it. Go ahead, jim. Mr. Secretary, always good to see you on squawk on the street. We get a little bargaining done on the show. How have you been . Good morning. How are you . Im doing
Lavongo on their merger and the first companys earnings report. David has news on microsoft and tiktok. Want to continue to update a story were following closely given we have not seen anything like it. Tiktok the incredibly popular social media app in the u. S. And around the world, bytedance its owner, the u. S. Government saying we will shut tiktok down in the u. S. Unless you find a way to transfer all of it to u. S. Ownership and microsoft playing the role as potentially the only suitor for the business i wanted to bring everybody up to date on new reporting that ive got because it is interesting. Both sides right now, bytedance and microsoft and of course the u. S. Government is still very much involved in this as well are negotiating to try to reach some sort of an agreement under which microsoft would buy the u. S. Business of texas toks u. S. Bit from bytedance within the next two to three weeks. That seems to be what theyre hoping for in terms of a timeline obviously in these
Is it time to bet on stocks that thrive and rebound in the economy . Thats what todays action said. Dow gaining 359 points the s p rising 1. 47 that was easy ooh, and the nasdaq advancing 1. 1 buy, buy, buy with many of the biggest losers of the year leading the way. [ moo i say not so fast. Look, we all want to go back to normal even after we lift the lockdown, the new normal will be different from the old normal. Im tired of the cliche, normal this, normal that. Things have changed for starters the new normal is less investable i dont think it makes sense to fall into the gap of Carnival Cruise or attend live nation concert. The streets roared theyre compressed springs given how far theyve crashed, i think theyve got more legs to them hey, if i were a Hedge Fund Manager id do these stocks by tradein state by state openings if i were an investor like you, i would let them run if i was stuck in them, then escape for the stocks well be talking about later in the show. You have to unders
Market meltdown. Hang on, everyone, this is the final hour of trade. Good afternoon. Lets have a look at whats driving the action the lack of a Production Cut deal from opec coupled with a saudi price cut sending prices tumbling down 17 on the day alone. Coronavirus fears remain front and center as global cases top 111,000 and italy locks down a quarter of its population. And the bull market chaos rages on as yields on the tenyear at a low of 0. 31 and remain at the moment below 0. 5 . Joining us for the full first hour of the show, lindsey bell from ally invest they have 7. 85 billion in total customer assets. Shes here along with our team of reporters to break down this massive market sell off. Bob pisani is on the floor of the change Brian Sullivan covering the Oil Price Collapse mike is here to look in the the market mike holland ond transports. Well get to all our reporters the dow is down 7. 25 . B bob. Important thing is the Circuit Breakers hit this morning. Down 7 . Halted for
Sports world coming to a halt while the happiest place on earth closes its gate. 2020 race impacted by coronavirus as well, Campaign Events canceled. Debates with no inhouse audiences, mornings with maria live right now. Maria we want to check overseas marks right now, take a look, mixed story over in europe. Ftse 100 now turned negative, down 421 points, 7 lower on financial times. Cac request rant is up 150 and dax index in germany up 307 points. 3 apiece. We are looking at those losses extend this morning in the uk. In asia overnight it was red across the board certainly in the heels of wall street but markets in asia actually closed off the lows of the session, worst performer was japan, down better than 6 followed by korea. South korea banning short selling for now 6 months, lets check Interest Rates, the yield on the 10year treasury moving up. The yield is up now 10 basis points at level of. 896 on the 10year, Oil Prices Rising this morning after 2 days of decline as the price wa