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About 800 points on the dow. Youre still looking at a loss of greater than 5 a huge story today the crude oil crush as the saudis initiate a price war. We should think about it in terms of the speed and velocity of decline the s p the is down about 17 . We hear about the news with are the russians and saudi arabia. The problem i have is you have a very healthy patient being the market now it appears to be in intensive care we dont seem to have any doctors around to treat them in intense iive care negative rates are present in the uk, first time ever. We are battling here in the United States with the potential for negative rates the missing link in all of this which is what we saw in 2008 was a global coordinated effort. There does not seem to be a globally coordinating effort to address that i think thats what the market is riding against. Liz young, what do you see . Lets start with the globally coordinated effort i think theres ....
The governor of california recommends the elderly should take shelter in their homes. New york city closes its schools. Many states close bars and restaurants. Hourly workers, in dire straits. The economy is grinding to a halt and we dont know how long this massive disruption will last. All right. Heres the financial reaction. This monday morning, stock futures are limit down and when we open an even bigger drop is expected. That may mean a trading halt. Travel and leisure stocks again beaten down. Airline stocks, decimated. Last night, the fed took emergency action, cutting rates to the lowest level since 2008 and pumping 700 billion into the Financial System. Were waiting for a rescue package from congress. Were waiting to see if the administration will put money directly into the hands of affected workers, helicopter money, for example, and into desperate industries. A kind of modern bailout. So whats next . We will find out ....
Its what she called a sad story. All of this comes as the acting director of the fbi makes his debut under the bright lights of the Senate Intelligence committee Andrew Mccabe thrust onto the stage. Making several eyebrow raising statements. The chairman of the House Democratic account guess on how the democrats now proceed. The sun is just not just focusing on the fbi today. The ceo of giant fire i we will ask why Cyber Security stocks are falling just as the sign a new executive order. Sending some of the nations biggest chains into a deep story. While up a low of the session. Now its getting slapped. Another obama care bombshell. And they break it on the never ending battle between herbalife and baby buffet bill ackman. Lets start the countdown. Breaking ne ....
Moment. First, we want to get to the big residential shakeup. Donald trump getting what could be his most important endorsement yet took governor christie announces he is throwing his support the honorable track after months of his support to donald trump. What American Allies will understand is that donald trump is someone who keeps his word and that means america will keep its word again. This is the biggest endorsement from a mainstream republican that trump has gotten so far. It will likely give him a boost heading into super tuesday next week. With that, christie says trump is free riding the playbook. And no one is prepared to provide america with a strong leadership it needs that donald trump. Marco rubio and ted cruz are also making their final push before super tuesday. Last night heated debate. I think donald trump had a tough night. What we saw last night on issue after issue after issue, donald positions are identical ....
Worst week in ten. Draghis comments dont add anything new. Rolls royce has a warning. Oil back below 44. Copper to a new sixyear low. Macys sending shockwaves through retail. Its not all brands. A big beat this morning from kohls. Well have an exclusive with john malone in a moment and apple reportedly diving further into payments. Pay pal and Google Wallet may be on notice today. First up, kohls up sharply on better than expected quarterly results. Comps up 1 . Retailers citing strong backtoschool sales. Comes after macys reported the weaker sales and guidance. Comps up better than estimated. Inventories up 5 but still sequentially better. The take is, given macys, this is pretty solid. There was a time when 1 comp growth would be something that i would turn to you and say, wow is that pathetic. People were looking for 1 comp growth and they gave it to us. Was it kohls has one advantage. They dont have a giant flagship store. Kohl ....