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This of course, the saudis are flooding the world with oil right now. The russians, its not clear where the heck they are because theyre very secretive, but i know who is not there, the drivers. Theres very little demand david and i talk about this with you all the time, carl theres this overall sense, you know what, if we just get things moving, things will come back again. We need customers. We need customers to get their hair cut, to go to the dry cleaner, the restaurants, and we need customers on the road without them, i really dont care what president calls who, you need a tariff to keep the to keep the saudi oil from coming here, and you need the chinese to restockpile, and frankly, thats still not going to be enough to be able to make it so oil real demand goes higher good point yeah. Sorry, carl. 6 Million Barrels a day, jim, is what im hearing right now as we still try to adjust. Even know we know each others cadences so ....
Well, tech is holding up well given it has high multiples coming into this part of the reason tech is the answer to some of the issues particularly working from home, things like krits tricks, zoom, microsoft, amazon, have outperformed it appears this is going to be somewhat of a permanent change theres a spike but even coming out they could benefit we would like to see more breadth within tech. Its been big and focused. Last week was interesting. As we started to get a rally in tech we got a sense for whats going to perform on the other side, services,semis, smaller cap names. We dont think were there yet but looking for infection rates to come down, pmis to improve. The economy is on the mend and then hopefully on the other side steve, its interesting over the past day we see some little moves in this environment that might suggest something. Yesterday microsoft announced changes to office 365, calling it microsoft 365 planning to open up access to teams and features in teams to more ....
Jim, is it short answer is yes but lets qualify it just because today is a day to buy doesnt mean we cant go lower from here. Look, when you say is it a time to buy, it doesnt mean you pile into the market today. It means over the coming days. There are still Big Questions to be answered. We know theres an Economic Impact and we know theres going to be a profit impact. The question is how long does it last thats one question. Which we just simply dont know the answer to. The second question is what policy response . Now on that second question lets say this theres a heck of a lot of room for improvement and thats a good thing so, yes, it is a time to buy but for Goodness Sake please pace it out over the coming days steve, cramer today i dont want people to buy, cash is king, says he has a huge amount of cash. We would not ....
Extraordinary, we will have the latest. Life disrupted as schools and businesses close around the world. Sandbergcoo sheryl joins us live. This, as facebook shares plunge. Thet, to our top story, markets going deeper into the red over fears that the economic fallout over coronavirus will be more prolonged and painful that we all expected. President trump say life could be disrupted well into the summer. The s p sinking 12 . The dow falling to its lowest in two years despite the Federal Reserve cutting rates to zero. For more, i want to get to Romaine Bostick. So much red everywhere. Break it down for us. Romaine you talk about response with regard to the monetary policy. What you have today is a market that has basically figured out that what is ailing the u. S. And Global Economy will not be solved through monetary me ....
A strong china growth, and watching the three major indices billionaire head managers say theyre still buys equities, joining us for the first full hour of the show slight gains, but anything is good enough. Lets focus in on the big stories. Seema is watching the market record highs Steve Liesman is diving into gdp. Combing through the numbers, a number of sectors are climbing to new highs the ren sawn etf and russell welcome back, every year the 2000 is less than 2 away. Forgotten 40 is put out. Widely seen as a market breadth some of the standouts on this list, discovery, Madison Square, this together comprise 13 of the s p 500. And more good to see you, jonathan. Also i want to draw your attention to shares of railroad thank you for joining us. Thanks for having me. Operator csx, a very choppy day lets kick off with discovery. Why is that such a standout following mixed ear ....