It is a decided direction and big tech. The lagging sectors are energy as Oil Prices Fell 2 , and health care. A picture of an economy that has largely stabilized but is also at risk of stalling out, especially if there is a second wave of the virus. No vaccine and no stimulus forthcoming. Jobless claims moving in the wrong direction and new home sales rising more than expected as americans continue to hunker down. The vix inching higher. It did get to 29. Treasuries are moving higher. That means lower yields, or at least it did before the most recent change, and the dollar stronger versus all of the g10 currencies except the loonie. Higher dollar means lower gold prices, and we have seen gold turnaround. They did fall to a two month low earlier. Gold could stand to use more groep to lose more ground. David i want to connect two things. You mentioned uncertainty be out the recovery, how fast it is coming back. Jobless numbers not optimistic. Also doubts about the virus. We heard from j
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
The 02020 football championship which had been due to take place across the continent. Hello welcome to the program our top story restrictions around the world becoming will severe as countries step up their efforts to halt the spread of the coronavirus iran has issued one of the most dire warnings so far saying millions could die if they continue to ignore advice and move around the country malaysia has imposed some of the toughest restrictions seen in asia or outside of china by closing its borders and clamping down on movements all this on the same day it recorded its 1st death and then france has entered a nationwide lockdown as well thousands of police are on the streets to find people if they cant prove that buying food or going to work and the euro 2020 football tournament which was due to be held in 12 different cities across europe has now been put back by a year as paul brennan begins our coverage with a look at the situation in europe. As the noon deadline passed the normall
Year high as the coronavirus layoffs start to show u. And Oil Rebounding crude on track for its biggest oneday gain ever. Absolutely. Its up 26 though still down 17 for the week as a whole. The dow was up 500 points. Now only up 235. Lets focus in on the key stories were watching mike is tracking todays Market Action e meg is covering new developments from the Pharma Industry and kayla has the latest on proposed bailout, but mike, lets kick things off with you. Thanks. Obviously seeing a general pause in the intense selling weve seen perhaps had a wave of that liquidation pass us by and the big old Growth Stocks are leading the way. That hasnt changed through this whole sell off especially sed soed if you look at a one yore chart starting with the nasdaq, 100 the leader, s p 500. The equal weighted verse then the small cap russell 2000 you see that distinct tearing on a oneyear bases in terms of what has worked better if you just focus in on the last month, by the way, one month ago to
A series of attacks in the east. So that a strike on turkish soldiers inside syria is increasing tensions on its borders and prompting concerns about where a new escalation might all lead an emergency meeting of nato ended with it calling for syria and russia to halt their offensive take he says 33. 00 of its soldiers were killed there on thursday night to express solidarity with turkey but offered no Additional Support on the ground turkey has begun retaliatory strikes and says it struck more than 200. 00 Syrian Government positions russia denies involvement in the soldiers deaths and Vladimir Putin spoke with turkeys president had about a few hours ago and theyve decided to stick to the 2018 deescalation plan but that socalled safety zone is where most violence is taking place shelling an asteroids have displaced more than a 1000000 people since december. Well as marber reports now from cuba goes on the turkish syrian border. Turkish soldiers being evacuated from syria after being at