Over to you. All right tyler, thanks very much. All three of the major averages are hanging onto their gains in the month of may tension escalating with china. My theme is still intact thats a broadening of the rally. This is in stutter steps you get a day like today where you pull back a little bit but not numuch obviously, some of the china etfs, thats first one down today on concerns about whats going on in hong kong. Look at the leadership this week russell. Its been bank stocks and Energy Stocks oil is on the downside thats what i mean those groups have been leadership stocks here look at these china stocks we did get alibaba thats down concerned to whats going on hong kong what was down, transports, russell down the nasdaq, the big tech names is under performing this week. This is rotation this is broadening out of the market that trend continues if you look at individual secto sectors, banks were behaving horribly they are outperforming this week so the Energy Stocks even though
Marco rubio will talk to us about the stimulus plan and whether it doesenough for smal business if youre out there and not a professional investor wondering what to do in these tumultuous times, dont worry, realworld pr practical advice, with suze orman. Scott chef feeshlgsd the ceo of Pioneer Natural Resources will join us along with Janice Henderson ceo dick wilder. It is a big hour, but weve got to start with the markets. The dow closing up about 1300 points and yes, its best threeday run since the 30s. The only problem with that is were also coming off the worst threeday run since the 30s and you have names you know and need to hear from we have put all of the allstars together, we have guy, tom, b. K. And steve. Everybody, its great, wherever you may be to join you on this tristate edition of fast money. Guy, im going to begin with you. A nice rally and you guys all said we could have the violent rallies to the upside, but not to throw water on it, we still have a vix around 60. I
The consumer staples, bottom fishing on companies and may think have gotten oversold. Companies could benefit from the work at Home Movement which is encapsulating this entire globe. Walgreens, have got walmart and costco among the gainers in the staples space. Theee another winner in dollar. Everyone is flocking to the dollar, the dollar index rising for a seventh straight day, claiming to an alltime high. The biggest loser against the dollar among the g10 currencies appears to be the pound. Romaine yeah. Scarlet lets look at todays market action. We will bring in our live reporter and one of the new voices. What have you been watching . Reporter oil markets were catching my eye. Wti, 14 in in brent. What is moving this action . It is a risk off water market story. Pressure oil as well and youre seeing all of this action move off of the official order from the Energy Ministry to saudi aramco to 12. 3 Million Barrels keep but as for the next coming month. That is how the indication is
On every 19th. On february 19. Take a look at the banking sector, take a look at the mining sector, take a look at what is happening with the oil sector. These sectors are down by circa 30 since those highs were hit. Brent crude bouncing back today, up by nearly 8 , after saudi makes it very clear they intend to pump a lot of oil during the month of april. This Oil Price War is not going to go away in a hurry. The german 10 year yield, we are selling off today. We are 10 basis points higher. In italy, 12 basis points lower. The spread tightening up a little bit, but nevertheless, italy has been on offer for the last couple of days. Maybe some fiscal action helping the story out a little bit. Nevertheless, we have a big call between eu leaders. We will have to wait and see. Vonnie we will get all of that later today, but for todays market action, what we are looking at right now, we are joined by nancy davis, Quadratic Capital Management cio. Also joining us, our market live editor this
Controversy, but mark said we believe in Free Expression. We believe in political speech, and ads can be an important part of that. Manus the saudi Energy Manager says mohammad bin salman will determine the timing of aramcos ipo, saying it will be soon at the right time. Yousef it is 9 00 a. M. In the emirates. This is bloomberg daybreak asia least. Im yousef gamal eldin. Manus im manus cranny. The bond market, hoping there will be another rate cut in 2020. December might be a debate. Found by seven basis points yesterday, back at 7. 18 . U. S. Treasuries are a must buy. There is risk to the upside. 2 by the end of the year, it is said. Equity futures taking a little higher in the last hour or so on additional traction on the trade front but now the s p 500 is trading 20 times earnings. Some fanfare around Apple Earnings but caution this rally have beenar and they cutting back on their estimates in terms of what to expect in the coming quarters and you could be seen your end around 300