Up 41. 22 a barrel the giants of the industry, exxon mobil and chevron into bear markets. Where is the president , right now hes heading to the center for Disease Control in atlanta after signing the 8. 3 billion corona spending bill this morning. That seems like ages ago and now the dow is down 812 points. It kinda looks like no amount of money can fix which is gumming up and rupturing in great part to the coronavirus lowdown. It is hitting our nation with a 12 punch after last years trade war, we will take you life to the port of long beach in what is now the fullblown shipping container crunch. From ports to people as 50 new virus deaths overnight add to italy fast growing number of victims, how is the biggest name and traveled to her that region handling the situation. Steven perillo of Steven Perillo tours joins us in a fox business exclusive on cancellations and his new policy. Less than an hour to the closing bell, lets start the claman countdown. Liz we have a bunch of breaking
Taking a look at under armour, Procter Gamble. Under armour pretty good. They see fullyear revenue coming up by 3 and 4 . The market still down by about seven points for the s p. Procter gamble pretty solid, up by 3 . 2020 organic Revenue Growth coming in pretty strong, beating estimates. Core Earnings Growth also beating estimates. David they see more organic growth coming up, so a good forecast as well. We will definitely get a good read on the consumer through the next couple of hours. Youre seeing the s p down by seven points. It is a mix. The cable rate completely falling out of bed. Where will you actually see the bottom . Finally it seems like markets are understanding a Boris Johnson prime ministership and the potential for crashing out of the european union. Yields pretty much go nowhere. Crude up by about 1 . It is really the cable rate. It has been unbelievable. The gauntlet thrown down. David as you say, Boris Johnson is playing a very highstakes game of chicken. We are get
Stress. Now, a month full of betterthanexpected Economic Data including u. S. Retail sales. The 10year, 4. 95 on the twoyear. 10year, 4. 6488. On the month so far, up by more than 30 basis points on the twoyear, 40 basis points on the 10year. Morgan stanley, for equities. Socgen, expensive valuation sitting comfortably with higher bonds yield. Lisa part is the right reason, part is the wrong reason. Retail sales came in betterthanexpected causing the increase of gdp positive for equities. The other side, it is stemming from increasing Inflation Expectations grading issues of how high the rates have to stay for how long. Jonathan we have heard the same thing from fed official after fed official. Patience and no urgency. Monetary policy is in a good place. Monetary policy is tight. Immediately after, hotter than expected retail sales. Lisa can they get ahead of this . Will he have the freedom to cut rates. It seems the market has moved on from fed speak. It seems the market is looking at
More turbulent if not volatile period for stocks or yet another blip on the road higher . I think you have to look at it two separate ways yeah, the seasonal patterns which will take you higher into year end i believe, but whats added that element of volatility is clearly the tax plan. If its going to happen, its not. The market trades up and down on that, and my personal view is that that volatility will persist. They gave a christmas deadline for getting it done. I dont think it happens so these are buying opportunities that we saw with tech, alibaba, for example you have an opportunity to buy them down, and i still think that the underlying trends specific to these companies is so powerful thats when you want to get the buy. We mentioned this quiet correction, josh, that doesnt seem to be getting much attention at all 184 companies out of the s p 500 are in correction territory or worse. 36 of the index. Where i come from we call that rotation, and let me give you something that may
Will meet with President Trump at the white house. She looks for leverage in trade talks. And he beat for ubs. Profit more than tripled in the Fourth Quarter at the swiss bank. Come back for good, matt . Than half anless hour away from the european open, guy. We saw a lot of Investor Confidence yesterday. Here and throughout asia and the u. S. Here we see ftse futures futures have dax little changed after a couple days of rallies. We will see if anything happens in equities today. Id say the focus is a lot more on other Asset Classes this morning, guy. Look to your Foreign Exchange column, it is the second one in on your bloomberg. Drop it down to a g20 on the top and what you can see here is 1. 2 percent down versus the u. S. Dollar. Japanese yen on the move that as well this morning. Bojstory rounding the biting more and more. Cue, the South African rand has overtaken the mexican peso is one of the worst performers out there. You can see if i drop this down, where the peso is, down b