Markets are crumbling. We do have crude down 2. 70, down about 6. 7 . We have the new demand worries triggered by china tensions and the lingering pandemic, put in with all the markets. Here we go with followthrough. The dow right now down 566. We have the s p lower by 83. The nasdaq down 396. Our floor show traders, including jpmorgans david kelly, are getting in front of the cameras. They will have instant reaction. From northwestern to northeastern to west virginia, colleges are grappling with Coronavirus Closures and suspensions. The ceo of the nations leading directtostudent Digital Learning platform thinks higher ed, ready for this, is in a bubble and maybe the pandemic is about to pop it. Hes here in a fox business exclusive. Plus Jillian Michaels, one of the biggest names in fitness, is rolling out a new workout from home app as gyms struggle to reopen after the pandemic. Shes here to whip us into shape. We will get you the latest numbers from peloton. Gms stock electrified as
Only up a point. The 10year yield at 51 basis points. Jersey talking about a range of 40 and 80 for the next two months. Now that we have broken through 54, he says that was an important level. Ralph lauren, one of the stories of the day. That stock down 6. 25 . Argentina has reached an agreement in principle with a key group of creditors to restructure 65 billion worth of debt, after a third default this century, the ninth overall. Robert koenigsberger, cio of gramercy funds, who had a seat at the table, joins us now. Headlines crossing about half an hour ago saying there was an agreement in principle. Few to us about the last hours, couple of days, how it all materialized. Robert good afternoon and thank you for having me. April, itoke last in seemed like an agreement would be too difficult, that the two sides were too far apart and with hardened positions. Over the past couple of months, obviously, past couple of days, those positions became less hardened, and logic prevailed. Winwi
A long political stalemate in israel the Prime Minister signs a deal to form a unity government with the former opponent. We stand with you and we grieve if you. Canadas Prime Minister pays tribute to those who died in the countrys worst mass shooting as the death toll rises to 18. The World Health Organization is warning countries against loosening coronavirus long down restrictions that as governments in europe begin easing social isolation measures germany has reopened some shops and schools Nursery Schools in norway are also reopening to the Czech Republic denmark poland also lifting the shutters on some businesses but European Union Health Experts are warning the battle is fast. Over with infections nearing 1000000. 00 well india has partially lifted its lockdown allowing agriculture manufacturing and construction to resume that says the country reported its highest single day increase in new infections well Health Organization is caution countries the easing of what downs worldwi
Site of the g20 summit this week. Thatshere President Trump and xi will be meeting to discuss trade. An important moment in the trade dispute between the two economies in the world and today, secretary mnuchin said the two countries are close to a ulal. Im hop we see a deal, but there needs to be the right efforts in place and this isnt you know a deal for having the sake of a deal. We were about 90 of the way there. I think theres a path to complete this. But wellwe see whae got. Market watchers know weve heard comments like that before which may be why after initial excitement this morpg, reaction ended up being new. The dow was down 11 points, were at 26,536. Nasdaq up 25. Actually the real action today was in the energy market. Gasoline fut es mooued higher when it was announced that refinery outside philadelphia hadxploded lastfriday. Its going to be permanently shut down. It was the largest and oldest refinery on the east coast. Account ed for nearly 30 of tht regions refining ca
Point process the days highs to the lows and back up again. Todays move alone, 849point swing. We were down more than 400 points about an hour ago, and heres what happened. The s p dropped to whats called the 200Day Moving Average. This is a socalled major technical indicator that stretches out over 200 days as a trend. When you drop to that and hit it and go below it, that kind of makes the markets do squirrely things. It triggered a move, and the move was to bounce up higher. People saw that lower level, they swept in at least some of you out there and started buying. But both the dow and the s p 500 we do need to remind you at this moment remain solidly in correction territory. That means its more than 10 off the highs of january 2016. That was a record high. The nasdaq is just slightly below that at the moment. Were watching it tick by tick here. So far the u. S. Markets shedding some 3. 2 trillion this is on paper over that time, and its according to the wilshire 5000 index which