Today. We start out of with the fed staying put. Jerome powell signaling the rates will stay near zero through 2023 stocks getting an initial pop, but reverse course as the fed share took questions from the press. Steve, what was it, do you think, that spooked the markets . You know, its always hard to know maybe one of those sell the news things there was a bit of history in the statement where the fed for the first time put in the statement that its new goal is to seek inflation above 2 that was in the longterm policy strategy but it had not yet been in the statement. This is the first statement following that change. It was a bit like there was nothing behind it in the sense that, the question that i asked, i said, well, how come your forecasts dont show you hitting the goal, not even in the fouryear horizon here the fed chair didnt really have a good answer for that you would think if you said, you know, im going to move this tanker faster, you know, youd be pushing the throttle do
Growth is slowing down due to the outbreak across the sunbelt. We have been at one point up 6 . Were now up 0. 7 . At one point we got to the highest level since the pandemic began. Ahead on todays show, stocks seeing a big rally to start the week Jeff Rosenberg of black rock says the bond stock model does not work in this environment he will join us to discuss where hes putting his money to work right now. Plus, entertaining in the age of coronavirus. Well speak with pitbull about how artists are navigating a World Without live events, and his efforts to help latino businesses lets focus in on the big stories with 59 minutes left of trade. Bob pisani tracking the action phil lebeau is watching the surging stock prices of electric vehicle makers joining us with his thoughts on the race for a vaccine and the biotech name is michael ye from jeffires start us off with the market with the dow up 400. We have had a remarkable run in the last three weeks or so, sara, with mega caps, semicond
Is appointing mike pence to lead to effort. Todays announcement comes after the World Health Organization comes after the announcement of more new cases outside of china than inside the country where the virus first started to spread. Chinese officials reported 412 new infections with 459 cases in the rest of the way including norway, pakistan and brazil. The total number globally has now reached 81,000 with more than 2,900 deaths. None so far in the u. S. Where 57 people are infected. Most are repatriated fraengs a cruise ship in japan. The question now is, is there anything had to do now . We went to the experts for advice. Reporter the coronavirus has infected people in 42 countries including the u. S. There is no treatment or vaccine. The citizens of San Francisco, theyll have to prepare as well. And a big part of it is understanding how to prevent the transmission of viruses between people. He is a San Francisco Public Health officer and epidemioligist. He said people can prepare
Quarantined. President trump. Of the 15 people, original 15 people as i call them. Eight have returned to stay in homes until fully recovered. One in the hospital, five have fully recovered. And one is we think in pretty good shape. President appointed Vice President mike pence to lead the nations efforts to fight the potential pandemic. California Health Officials say the risk still remains low at this point. Live Team Coverage for you both sides of the bay. Eric thomas is in oakland. But Lauren Martinez is in San Francisco. People taking their own precautions as news about the virus continues to grow. Lauren. Reporter cdc is suggesting older people and people with medical conditions hold off traveling to italy or iran. People in San Francisco are taking their own precautions as news of the virus continues to grow. Planned for april but decided to postpone it until the situation gets a bit better. Manages a store in San Franciscos north beach neighborhood thats been around since 1940s
Index is up 1 today as well. Key banks saying memory chipmakers are possibly on the rebound come so that has some rallying today. So that has semis rallying today. Its get to our guest, Charles Dumas of ts lombard. What will mario draghi announced tomorrow . Charles i think he will come through with some further 10 basis point move may be on the negative rates, from 42 50. 40 to 50, and with tiering on the banks. That is the important thing. Theres also likely to be a revisiting of quantitative sing, for which theres about , yeorth of scope Something Like 30 billion a month. Vonnie weve been hearing from strategists and economists that say there is really not much that that kind of easing will do, that that kind of stimulus, and even earlier on, our guest took exception to the word stimulus, saying this is not going to stimulate european economy. Charles i dont think it does. I think your guest was correct. The basic point is for 10 years now, or at least since 2011, the euro zone has