Holding onto those gains. The s p 500 up. The nasdaq is up 2. 4 . The dow is up 1. 8 . Chipotle is at the top but like many other companies it beat estimates. The dollar continues to strengthen. Standing by with a deeper dive into the action we have taylor riggs. Taylor you mentioned crude on your board and i wanted to start with oil prices. They were up 20 or so after six days of losses. Theyre trying to rebound but still down where the 50 . It is unbelievable the price action. U. S. Oil inventories have risen for a 13th straight week but there is potential positive news. Yesterday, they were shortselling on a stock and if it plunges more than 10 that would apply to the largest etf. Some of the reasons we are seeing some stability. We need to talk about the largest oil etf. It is tracking crude prices pretty closely on a yeartodate basis. We know that yesterday there was a premium to the shares given that they ran out of what to sell investors. Theyre trying to take advantage of low o
Loom over the market. And the u. S. And china continue to trade barbs over the handling of the crisis. Washington says the world has been let down. Shery lets get you started with a quick check of how markets are trading. U. S. Futures looking like this. Unchanged at the moment. This, after we saw a broadbased rally in the regular session. This halting a two day slide. We had the latest around corporate earnings showing a little more positive sentiment. Chipotle and Texas Instruments rising on solid result. We had tech leading the gains with the nassau composite seen the best day in about one week, reversing yesterdays weakness in tech and chipmakers as well. We have a little more optimism about the eventual reopening of the economy as well, so we had this pullback in treasuries confirming this riskon move. Take a look at what oil is doing. We saw oil rising from record lows in the new york session. Barrel right 14 a now as President Trump ordered the navy to deploy any uranium boats i
The holiday period. Federal reserve chairman Jerome Powell says the central bank will maintain its efforts to support the flow of as americans hunker down from the spokevirus pandemic, he on the nbc today show. We are not going to run out of ammunition. That doesnt happen. ,e set Interest Rates in time what we think is giving the economy the right level of support. If we raised Interest Rates more, it would have been higher than we thought and Economic Growth would have been slower. It would not have mattered in the end. We are always setting our Interest Rates at the level we think is appropriate. Carowell says mortgages and loans are among the areas that the fed can step in. Global news 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in armorhan 120 countries, ritika gupta. This is bloomberg. I am ritika gupta. This is numbered. Vonnie it is 1 00 p. M. In new york, 5 00 p. M. In london, and want to click a. M. In hong kong. In
Plus, apple is not the only tech company reporting earnings. We will look ahead at what to expect from tesla and facebook. Our top story, apples first report since tim cook let investors know the company was it ists forecast out. Shares are up. Revenue was higher at 84. 3 billion. The number we were waiting for was china revenue, a steep dropoff. Apple brought in almost 5 billion less revenue during the Holiday Quarter in china been a year prior. 13. 1 billion versus 17. 9 billion in the same quarter last year. To discuss, we have our guests. I have to zero in on china. How bad is it . We have seen a couple of macro indicators collapsing the last two months of the quarter. November, december. Consumption tax down dramatically. Lets not forget that apple was up 16 into q3 last year. We went from going up to down 17 or see her 70 or so youre on your. It was a dramatic collapse in china. Its not just apple. What we are seeing is a collapse in Consumer Confidence over all. Emily the questi
Have to also show youre willing to compromise. Neil obviously he isnt going to talk about declaring an emergency when i guess this Conference Committee still has another week 1 2 or so to go but he seems to be signaling that. Yes. Neil im wonderings, i even heard from a number about republicans not sure that right strategy to take, might poison the well, if not but even more than another shutdown. I dont understand the logic. I dont agree with that. I think declaring a emergency certainly would be controversial. Some republicans on capitol hill indicated they would vote against it. There would be a vote in the house and senate. I dont think that would get vetoed. I dont think enough republicans side with the democrats. Joe manchin might vote with the president. He is in favor of the wall. I think the worst possible situation is another shut down. I think that is while we avoid it, through another deal more likely but more likely through an Emergency Declaration. Neil how likely is it t