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His Supreme Court nominee. No more stimulus talks, according to the president. The dow had been up more than 200 points and now you can see, it has swung to the downside, now lower by 267. Weve got the s p down 33. Nasdaq has lost all of its gains and more, down 128 points. But what are we to make on top of all of that . Of a trade deficit that expanded to its widest margin in 14 years, despite President Trumps buy american drum beating, the countrys taste for foreign goods, yes, thats you, remains firmly in place but a slight shrinkage in demand for chinese products. Is team trumps china trade war working or are we seeing squishy numbers in the middle of a Global Pandemic . Trumps biggest china hawk, adviser Peter Navarro, joins us live. And could it be the most in ....
Correction from the march lows. Joining us is a chief market technician. Nasdaq, what is the level that we stabilize at . That is a great question. I think rather than looking at the levels, i think it is more about duration. We need more than one or two days of selling to alleviate the excess that we have built up over the last few months. Anybody who has been following the markets, equities seemingly have grind it higher every single day, so there is a lot of excess, a lot of exuberance built into the market. A a day or so of the selling pressure is not going to alleviate that. Where we kindbove of should be, are we . I guess it is the question people are trying to understand. We did push up aggressively, steadily though, but it has taken us above the 50, 100 and 200 Day Moving Averages. We are starting out to get back down to levels closer to the 50 Day Moving Average< ....
The charts are thrown haywire by the fact to close negative yesterday. Trading about 5 today june is at 12. July below 21. All sunk considerably just this week lets get more on the interplay of oil, stocks and the earnings. Gets get 0 ever to bob pisani for that this hour hi, bob. Well, you know, that collapse in oil is weighing on things but not quite as much as you might think. It is a little bit more of a general risk off day in terms of coronavirus. Lets show you what the sectors are doing right now. Sitting near the lows for the day essentially. S p 500 down between 70, 80 points throughout the day here senior citiz sectors, technology and financial stocks that are down, thats going to drag Everything Else down. Industrials not doing so well. Energy is down but not muches the rest of the over sectors and thats interesting to see there. Momentum stocks, stocks done well recently, theyre kind of weak today and advance micro ha ....
Package may not be needed. Dow industrials down 76, s p down 4 points and nasdaq lower by 2 and a half this after roller coaster week on wall street where we saw dow industrials go back to bull market territory posting largest weekly gain since 1938. Dow, nasdaq, s p 500 up better than 9 on the week. We are now off of the lows at 20. 54 a barrel, down 97 cents, 4 lower. Cases of coronavirus are rising across the country, death toll topping 1,000 in new york. Mayor de blasio says people who do not practice social distancing in the city can face fines up to 500dollars. A Million Dollars raised fox last night including fox business. More Companies Help to go fight the war on coronavirus. Manufacturing, medical supplies to free flight to healthcare workers. Mornings with maria is live right now. Maria lets check Global Markets< ....