Not a surprise if you look to see whats happening with the shutdown of the economy, the forced shutdown because of coronavirus. Taking a look at the tenyear this morning, it looks like that is yielding about 0. 735 at least on the last time i looked at the boards it was. And then wti is the other big story today. Joe also mentioned opec plus deal it was an historic one opec and other nations agreeing to cut Global Oil Production by onetenth. Well talk about this in a few minutes. Wti is up by 1. 5 to 23. 11 a barrel. We have a huge lineup of squawk newsmakers including Mohamed El Erian, Richard Preston and dr. Scott gottlieb starting in a few minutes. Andrew thanks, becky hope everybody had a great weekend. Lets bring everybody an update on the pandemic. Of course, the number of confirmed cases in the United States now more than 557,000 and the death toll is more than 22,000 there are 190,000 cases in new york state with more than 9300 deaths that means new york alone has reported more
With the pandemic. Governor larry hogan is joining us from annapolis. And we will talk with the mayor of seattle, washington. First we will talk with an Infectious Disease specialist from Boston University school of medicine and Public Health, and we want to hear from you. Open. One lines are if you are a medical professional, we would love to hear from you. Send us a tweet and we will read it. Or on facebook. Good tuesday evening. We will walk through the numbers from Johns Hopkins university, indicating there were 785 deaths in the single day in the u. S. The total confirmed cases around the world, 855,000, more than 42,000 deaths in the u. S. , leading the world with well over 180 6000 cases of coronavirus. Is dr. Us in boston benjamin linus, an Infectious Disease physician and a professor of medicine in epidemiology at the Boston School of Public Health. Thank you for being with us. Let me begin with the numbers that again, between 100,000, 240,000 potential deaths in the u. S. Alo
Last week, i warned you. Didnt think it wouldlast. More bad news about the pandemic and we would get slammed again thats what happened today dow plummeting 900 points, s p plunging 1. 4 . Nasdaq also nose diving, 1. 4 . Last night the president gave us pretty down beat, realistic forecast for covid19 fatalities if youve been following the experts and a potential death toll in the hundreds of thousands, might not have surprised you. But for a lot of investors it was a rude awakening i cant blame anyone for selling after that miserable First Quarter with very little good news on any front in the battle against covid. Lets be real. This market is an incredibly leaky ship if youve been laid off, having health problems, your family is hurting, supporting a loved one out of work, youre most likely going to have to sell stocks to get through this period. People need cash you cant fight that kind of selling. Thats what were seeing so why not simply dump everything, flee, maybe head for the hil
Youre seeing money coming out of the bond market. The u. S. 10 year yield up about four basis points. The dollar is down for the first day in 11. That shows some of the dollar funding stress that was present in the market may be easing a bit. All of that should support this rally, but we have to wait and see if we get that stimulus. David we are promised daily, but they are saying today it is coming in just a matter of hours. We hope that that is true. How broadbased is this on the equities side . Kailey it is pretty much across the board. Everything is green, and what is interesting is it is the most beaten up sectors leading this rally. Energy is on pace for its best day since 2008, up about 10 . Abouttocks that have lost half their value are actually leading the charge, so you are seeing some buying of those dips, where evaluations are quite suppressed at this point. David on airlines, that could be tied to the bill because theres reportedly some help from the airlines, but energy i
Against midway, against the japanese in world war ii the s p jumping 6. 24 . The nasdaq gaining 5. 60 in spite of the hideous jobless claims number in history this is the best day since 1931. So far covid19 has run the table against us we were not prepared and this virus has had us on our heels the whole way. Attacking the very basis of our civilization, life, liberty and especially the pursuit of happiness which in this case means the right to watch march madness, grab a beer, see Cirque Du Soleil in vegas at least until today were up against an insanely bullish last few minutes of trading. Astonishing return for large caps bully. Weve seen big run in all things tech it wasnt coordinated. Like our initial attempts to homeland the line in world war ii we were overcome by a prettier prepared enemy, virus its killing people directly and killing the economy. Like the greedy win at midway, google, watch the movie, even the terrible remake. I am beginning to think we can hold off one of the