Businesses stay afloat until we get a vaccine . The market doesnt remember, which is why it got crushed today. Dow plummeting down. The s p plunging 1. 16 and the nasdaq sinking 1. 3 , nice comeback there forget another bailout there is another possibility of a Government Shutdown next month. Stocks have been getting hammered for sometime now as i listened to the talking heads today, i was kind of autohear them suddenly recognize that the big tech names act terrible. Like wow, holy cow these are down a lot we better sell i mean, of course they were also acting terribly last week and the week before so a bounce could potentially be in the offering one held by the amazing rebound in apple which at its lows today was down 25 from highs earlier this month. Apple led the nasdaq 100 from morning oblivion drenched in red to bright green in a strong rally that nobody is taking seriously except for me. Before i get into where were headed, you need to understand why this moment is perilous for s
Me jimcramer. I have to be honest with you, we could be on the verge of a depression, not a recession, a depression if things dont go right. Worst monthly report since 2009. 700,000 jobs lost and that doesnt even cover the last two weeks where we had 10 million jobless claims the bad numbers are just beginning, which is why the averages got hit today, dow losing 361, s p 3. 1 , nasdaq falling. It could have been worse earlier in the day, it was bad this is going to be a brutal period if we handle things right, it will be a short depression i would call it a decession or a repression but the first sounds silly and we dont want a repression can we have a mini depression . Were in unchartered waters. I hope so. Still, i think were making Real Progress in the economic front today, Small Businesses applied for hundreds of billions of dollars in loans that will allow them to stay open in a tough period and the government will forgive those loans if you pay your workers full disclosure i appl
Weve ever been. We are doing great other countries have not our consumer is very, very strong very powerful economically hope comes in many forms. This morning, shares of one biotech are surging as treatment for the outbreak continuing. Stocks are set to continue their wild ride this morning as dow futures indicate an open that could be about 150 points to the down side you can see 150 points is where we would open. S p down by about 21 and nasdaq down by about 67 it may seem bad but it is earlier than it was. We were down significantly more so far this session. Since the selling zban, the dow has been down for five sessions in a row checking now the bond market as the 10year trades at its lowest level weve dropped 1. 3 twoyear note yields 1. 1. Record lows this week. Selling continues overnight with asian markets. Early trading in europe as well. We have Team Coverage this morning. Matt taylor in singapore Julianna Tatelbaum in london matt, well go to you first. Asian markets in the r
To the inability to get a nafta replacement deal done with mexico and canada, to the federal reserves lack of sensitivity to the strong dollar put it all together and the industrial economy just cant catch a break. And thats why the market exploded higher on that robust employment figure. Dow gaining 373 points, s p soaring 1. 2 nasdaq surging 1. 40 it didnt hurt that we were oversold look, i know the Unemployment Rate is down to 3. 5 lowest in nearly 50 years. But it has to do with the makeup of the economy the manufacturing side of the ledger is not just doing that well the weakness in manufacturing hiring gives fed chief jay powell all the ammo he needs to justify cutting the federal funds rate that may make it more in sync with the traditional curve of low short rates to higher long ones normally, you wouldnt expect the fed to hit the accelerator with the jobless rate this low, but wages are still stagnant and theres no inflation to speak of basically, if powell is asking himself,
Week the s p is tracking for a third week in a row of losses, down 1. 3 nasdaq futures up 73 points. Weve got a lot to talk about on a summer thursday. Our road map starts with earnings walmart posting better than expected results fellow down component cisco gets a lift, beating with its Quarterly Results and talking up a. I. Ceo Chuck Robbins will be joining us here. Plus, investors continuing to digest fed minutes released yesterday. The tenyear note yield hitting a fresh high were going to begin with walmart, raising fullyear forecast the retail giant benefitting from customers seeking bargains. U. S. Comps up by a better than expected 6. 4 and ecommerce jumping 24 led by pickup and delivery theyre clearly taking share because theyre out comping their competitors and the industry theyre crushing it i want to straighten some things out here when you have ecommerce up 24 , when you have advertising, which is just free money, what are the Gross Margins there, 35 , much higher margin. F