A big upgrade. We will find out what makes it stick out in that big social media space. Plus, petes got a fast pitch on one medical device maker he says could be a home run. We will tell you what it is as he lays out the big case thats medical miracle mystery chart. In a special bonus hour of fast money at 6 00 p. M. Eastern time, we are taking your burning trading questions. Tweet us cbs fast money and you might get them answered here live on the show in the next hour we start with that monster rally on wall street today the s p up more than 1. 5 and the dow jumping over 400 points as you can see there the nasdaq also up nearly 2 leading those markets Higher Energy stocks, financialis and the small caps as well investors appearing hopeful a new deal for stimulus is town the pike markets still down significantly for the month. Does todays action give you a reason to perhaps be more optimistic and for that perhaps, guy, i will turn to you first. Welcome its always wonderful to have you
Joe, the big story is oil prices once again im ready to move out past june move out where . June is too close if we are not going to open anything up, no reason to think it will be anything different than minus 38 a barrel it is related to the price of gold and the price of a suit, so i should have been buying andrew, you are spending 10 times what you are on a suit with those hugo boss things. Which none of them have belt loops for 4,000, you could get a couple of belt loops no hugo boss. It is ralph. Ralph who oil prices, it is not funny. This is out of the realm of anything weve ever seen brent crude only a 20year low you look at wti or what may was before the contract rolls. It is incredible supply shortage spiked overseas. The u. S. Movement, wtis june contract the price giving up earlier gains. Up 11 see, im ready to move to september. August at some point what does this mean for the saudis youve had your picture taken there on a sand dune youve got a feel. They should have done
And up to 200,000 deaths. The president listening to his medical advisers and he has adjusted policy. The social distancing rules will be extended until april 30th. Therefore, the shutdown of the economy will continue well beyond easter. The president says the recovery will start by june 1st. On the markets, expect continued volatility. We have certainly seen that already today. At one point early this morning, futures showed a loss of a couple hundred points. Now we are looking at a gain at the opening bell of a couple hundred points. That would be almost 1 . A similar gain, better gain, actually, for the nasdaq, up about 1. 25 and the s p also up over 1 . A rally at the opening bell. Investors seem to like the idea of more pain now so we get out of it faster. The other big financial story is the price of oil. This is apart from the virus. This is the price of oil. Look at it. Its down to 20 a barrel. Earlier it hit 19. 20. 48 is the price right now. The saudis have declared war on Am
Ago. S p down by 151. And the nasdaq would open down by about 435 points this is limit down, they cant trade lower than this. Declines at 5 across the board. If this holds at the open, heres what you can expect in terms of the nyse Circuit Breakers that kick in. If the s p 500 dropped by 7 during the course of normal trading, trading halts for 15 minutes to have a cooloff period if it falls by 13 , it halts for another 15 minute period if it falls by 20 trading halts for the remainder of the day since these were implemented many years ago, weve never seen the levels tested. If youre watching the treasury market this morning, the ten year, almost impossible to believe watching how quickly things have fallen the ten year is yielding 0. 487 . Its been less than a week since it fell below a 1 yield and we have seen it collapse. Thats a bounce from earlier. So much of this has been keying off to whats taking place to crude prices over the weekend. Well explain what happened but you dont see
Treasury market, youll see the ten year right now is yielding all the way up at 1. 829 30year back at 2. 3 so some much higher levels of yields than weve been used to in recent month. Our top story, a series after attacks that took place over the Weekend Energy prices are soaring. Wti crude at 59. 55 brent at 65. 60 Big Questions for the future of the aramco ipo airline prices, all sorts of things Brian Sullivan is covering the huge moves in the oil prices in houston. But we want to start this morning with hadley gamble in riyadh, saudi arabia good morning, hadley. Good morning, guys. We are now over 48 hours from the largest ever terror attack on saudi arabias Oil Production facilities and still very muted response from not just the government itself but aramco were told in the next few hours we could see more information coming out of the company just about how this happened information about output, at the moments all we really got go on is the reemphasis time and time again on the