Is two parts to that last night i focused on the major averages are not representative of the broader economy. Something held true today with the dow and s p losing 4. 4 and nasdaq sinking 5. 7 after the dollar skyrocketed something we warned about because the fed made it confusing how much they will keep helping the economy. The stronger dollar isnt great but the incredible v shape rally in the stock market doesnt jive with reality in a world where we still have double digit unemployment tonight, though, we need to talk about the other part of the sentence the stock market doesnt reflect Current Conditions emphasis on the word current why . The market is a forecast machine across the ball and supposed to be appearing six to nine months in the future. Maybe the economy is in rough shape. Let say they reflect next february so what are the odds the economy will be in much better condition by then because some people would say stocks are saying. Thats the key question. Tonight, i want to
Here are your top headlines. Blame game. President trump raised the prospect that china deliberately caused the coronavirus outbreak. This as the u. S. Pauses some tariffs for 90 days but not those on chinese steel or aluminum. Crude collapse. Wti sags to its lowest level in the 21stcentury on concerns that Storage Space is running low. The demand outlook remains gloomy. Signs of easing. Germany begins to reopen its economy as spain, france, and the u. K. Report the fewest coronavirus fatalities in weeks. Just under one hour away from the start of cash trading. Lets take a look at where futures are headed in europe. Futures are higher, whereas u. S. Futures are down. You can see the ftse 100 futures up more than 1 , as are the dax futures. S p, dow jones, and nasdaq futures, red arrows. Further away from the start of trade on wall street. It looks like we will kick off the week in europe higher. That divide between europe and u. S. Futures is interesting. We will watch that as we go th
Nice pop after yesterdays disastrous performance, but still, you cant call any kind of victory within the crude market. Time now for todays top market moving news from our washington and new york bureaus. Congressional republicans and democrats are preparing for a fourth round of stimulus. Joining me is kevin cirilli. The ink hasnt even dried on third stimulus package. What are we talking about for phase four . Kevin kevin i was speaking with sources on both sides of the aisle, and the conversations are starting first and foremost on where the holes are left as a result of the latest round of economic stimulus. They want to see how quickly they are able to get liquidity to businesses, as well as to americans as they are expecting these paychecks in their account. The second part of this is likely going to be in the Financial Services sector, as well as other industries that have been pummeled as a result of this. I wouldnts bait that now, lawmakers arent going to begin talking about th
War have crushed the syrian pound and with it the economy. Welcome to do that your business i want to get johnson berlin to have you with us a chinese delegation is on its way to washington for preliminary talks aimed at paving the way for next months trade negotiations deputy finance minister the albanian will be leading the chinese team the stakes are higher for both sides after previous attempts to come to an agreement to end a trade war failed the 2 countries half imposed hundreds of billions of dollars in tariffs on each others goods hurting manufacturers and farmers in particular. For more lets bring in our asia correspondent in taipei to 102. 00 the latest Economic Data shows the trade route is hurting china a little bit more than the United States for now at least whats that mean for china is beijing the negotiating position is it a one off weakness. Well not necessarily because theres a different understanding on the chinese side even though there are now more people in china
Speaking as the crowd at a big move on big ideas summit forum encourage her harris to come back. Harris as you can see was just fine. This happened at the democratic gathering in San Francisco. She was fielding questions. The protester popped out of the audience. Direct action everywhere claimed responsibility for the disruption. It is an animal activist group. It is unclear at the protest it will face charges. Harris is one of more than a dozen president ial candidates for the state Democratic Convention. Melissa is at missoni center. Reporter here in the Convention Center 11 candidates gave speeches today. You might think kratz give speeches the democrats would be an easy go. While it was generally warmly received some speakers got the audience participation. Reporter former Colorado Governor John Hickenlooper did not get a warm reception. He said america has problems but socialism is not the solution. In response he was booed. If we are not careful we are going to end up helping to