Edward lawrence in washington. Ashley webster waits on the disney numbers we talked about. While we wait for that, edward, well start with you on the economy and the new comment today from the fed chairman. Reporter connell, Federal Reserve chairman Jerome Powell says the economic path forward will be a challenging one and includes more help from congress. Powell on a panel with European Central bankers says that Monetary Policy needs to work with fiscal policy because the size of the economic shock with the coronavirus. Ultimately it was a job to replace lost income. I would say that our congress stepped in and there hasnt been a faster or stronger response from congress to an economic emergency since really the great depression. Reporter he is talking about the first cares act at the beginning of the summer. Last week powell said, in order to get quickly back to where we want with the economy. There needs to be a another relief package from congress. It should be targeted to those pe
Really, all eyes are on the treasury markets today, where ae 10 year yield is at 11 level we havent seen in a while. There was a bit of a joke this morning when we got the mammoth refunding announcement. Crude oil, down 5 . There was a boost after inventories were lighter. Back downown to now at 2330. Disney, moving today after earnings were not as bad as people maybe anticipated. Up one quarter of 1 , they got a boost of about 4 after earnings. Lets get to taylor riggs now, standing by with a deeper dive into todays action. Taylor folding that into Something Else we are doing on the yield curve steepening, between the twos and attends. And the tens. Some of the stimulus programs we have announced, the treasury this morning announced plans to sell twentyyear bonds, you are seeing a steepening of the yield curve as you expect more supply to come. I want to flip up board and talk about technology. Isney, the tech index positive for the year. Its the only sector in the s p 500 back in the
Likely to hit around 15 . This morning, the private sector reports the loss of 20,236,000 jobs just in april. Reopening the economy is designed to try to bring back some or most of those jobs. So here we are. With all the bad Economic News breaking around us, what does the market do . Well, it rallies. For the third day in a row, the market opens higher. This is a bet on the recovery and a bet on the federal reserve, which is putting at least 4 trillion into the economy, and the treasury which is putting in over 3 trillion. Thats called stimulus. Investors appear to like it. The dow is going to be up about 140 points. Nice gain there. The s p up 15, nasdaq up about, what, 58, 60. Look at this. Oil, 23 a barrel. Thats where it is now. Earlier, it had been at 25. There has been a dramatic fall in supply and a hopedfor pickup in demand as some states start opening up their economies. So thats why we are in the mid 20s for the price of oil. But you can say goodbye to the gas price decline.
And 19 women, as the organizers reported, the winners work in a variety of fields , but most of them among them are representatives of the it sector, industry, Financial Sector and nuclear energy, all of them are super finalists, there are more than 302 of them, they received an educational grant in the amount of 1 million rubles for their chosen Training Program at russian universities, well and also that they also had the opportunity to meet with mentors from among the management leaders. Our country. In addition, the winners will be able to receive career advice and support throughout the year. According to the organizers, in in the fifth season, 160,000 managers submitted applications for participation, that is, the competition was about 500 people per place. The selection was cruel. Leaders of russia, let me remind you that the flagship project of the russia land of opportunity platform has been carried out since 2017 on behalf of the president. For the entire existence of the com
The twoyear yield at 4. 22 joe. Honeywell is out with the First Quarter profit of 2. 25 a share. Revenue 9. 11 billion. The forecast was 9. 03 billion a little bit better than expected look at lets get to meta he did not change it to a. I. They are still spending more on the metaverse or part of the a. I. Spending . Who are they who are you . It is part of the metaverse shares of meta plummeted after the Company Issued a light forecast is overshadowed what was better than expected First Quarter results. I want to bring in dan flax. It was a fascinating call. In many ways, Mark Zuckerberg called it. A lot of volatility around the stock in what he calls these type of periods when they invest in this stuff. The question is whether investors and like them investing in this stuff, dan, and the market spoke last night. We have seen this movie before, perhaps. Good morning, andrew. We have seen this movie before with the transition to stories they have done well with reels in the last 24 mont