Yeah, look, we have to be careful because there are Many Companies that benefit, but we have been piling into stocks that were meant to be as if there were no vaccine until some time maybe some time late 2021 where then there will be 2022. So, you have the nasdaq futures up way too much. You have the s p, i think, and dow up the correct amount given what is in those stocks because youve got the bank stocks suddenly maybe they get a real break. Travel and leisure are just incredible how bad theyve bipartisan and then youve got, what do you do with a service here now honestly, what do you do with a company like a zoom or a peleton. Thoseniquely price for a belief that covid will be with us for a long time. David, you know a lot of stocks are trading not as if theyre going to be households and everythingen wi en with everyone is going to have them and trading as catastrophic growth in a number of cases. While there still could be for a number of months, element that says, you know what, i
To go through. Jackie deangelis on the floor of the new york stock exchange. Chad pergram has plenty of news on capitol hill well get to. First Hillary Vaughn live at white house. Hillary . Reporter connell, treasury secretary Steve Mnuchin says he wants to put cash in peoples hands, as part of a economic stimulus package tied to the coronavirus crisis. Meeting with senators on capitol hill asking for 200 billion for these Cash Payments would be a check or direct deposit, saying he wants to get cash into peoples hands in two weeks. I asked secretary mnuchin if theyre looking boosting the Restaurant Industry in addition to airlines as part of an Economic Relief package. Mnuchin says they will be rolling out special program that helps small and midsized businesses restaurants an franchisees will be a part of that. This is not like a normal economic situation. Government has requested that parts of this economy shut down and the president is determined, you can think of this as, Business
Told to stay home. Unless you need to tend to essential business like going to buy food good evening, everyone, thanks for being with us tonight at 9 oclock im grant lotus. And im Vicki Liviakis tonight, Sonoma County has joined 6 other bay area counties implementing a shelterinplace that goes into effect at midnight tonight. And we are implementing a temporary new format as well thats all in the interest of social distancing. As we work to stay healthy so we can bring you this critical news each and every day. So today around the bay streets were noticeably less crowded as people work from home. They didnt go to the gym and they did not raise a pint on saint pattys day children were forced to try and learn from home. As Sonoma County added another shelter in place as of midnight. Yeah, thats right and Governor Newsom gave us a sobering reality check tonight telling parents not to expect schools to resume next week or in a few weeks in fact the governor went even further indicating sch
Later, chipotle, one of the best stocks the ceo will join us power lunch starts right now welcome to power lunch check out the markets and the performance here today the record rally hitting a roadblo roadblock. Hanging onto gains ever so slightly here. Take a look at microsoft that stock hitting a fresh record high today. Its now up 50 so far this year well have more on that later. Tech stock really on tear having the best year since 2009 up about 41 bill, over to you. Thank you we start with two of the big movers today kohls and home depot. Accounting for nearly all the declines today both stocks sinking after slowing in sales are these retail reality check lets head over to bob for more on todays retail wreck. Hello good to see you. This is a difficult question right now because there was a lot of questions on the Conference Call about this home depot sales missed to what they call timing of certain Investment Initiatives whats that all about . Its up almost 40 for the year. Now its
Housing data rebounded with Building Permits at their highest levels in 12 years we are set once again for record time close on the nasdaq anything positive, of course, is a record the s p has just dipped negative the dow has been negative for most of the afternoon. Joining us for the full first hour of the show, steve weiss from short Hill Capital Partners steve, very good to see you. How you doing . Good to see you what stands out as to whether or not were going to issee a meaningful move higher or lower . Its all about trade. Home depots announcement aside, which wasnt terrible wasnt terrible or was terrible was not terrible. And the stocks appropriately are saying, theres lots of people buying it into the earnings. And home depot, lets face it, theyve delivered remarkably over the last decade, particularly since new management came in but i dont think its really a referendum this report on the health of the consumer, which is what the market is based upon. And appropriately, were b