An important day in washington good morning, everybody. Welcome to squawk alley. This morning john fort has the morning off. The market in a bit of a molding pattern. Earlier this morning we heard from both sides of the isle. The argument is how much is appropriate at this particular juncture as we try to get the company back on its feet and get the country back at a place where it can sustain itself at the earliest it would be this year or early next year. Can we give a huge chunk of money to the people who are disenfranchised . To those that want to sna business so badly and they cant. Who are the most affected because they had the at least chance in our country . That has to be something that both sides can lead to perhaps you mistook them for someone that gives a damn. They dont believe in governance they would require some acts of government to do that. Ilan, well see if we get any more upaddition. Yeah, pelosi said part of the goal here is to get more money in the hands of the pe
Sports leagues are trying to make a come back mike tirico is going to tell us what the biggest hurdles are that all of the teams are facing right now. Tyler, thanks, the nasdaq is on track to snap a fiveday winning streak after the apple hedlines spooked investors. I think the key point here is that there are is 11 stores it is only 11 Stores Online stores are still open most of the others are still open most only have curb side pick up, but the whole thing is trying to figure out the trajectory of reopening. The closings of anything, and the market should be concerned about this you look at some of these travel a and leisure stocks they were flattish a little over two hours ago here, but trip advisor is down here we did have that announcement, no cruising until september 15th, but that was only a short while ago. The apple announcement was before that. Another casualty is brick and mortar retail. I want to specify, it dropped here, here is your dillards, abercromb abercrombie, and mor
Winning streak since december. Pete, im going to begin with you. I hope you and your family is well its been a while since we have seen you im thrilled to have kwyou balk im really surprised by what i see. I have the most exposure to stocks and the least exposure t options you have had in two years. Tell us why. Its something we talked about a while back a cup of months ago. When the volatility starts to spike and you see it in high level, i never interpreted this going towards 85 high levels being in the upper 30r 30, the low 40s. That move from 13 to those levels greats a great opportunity. The reason you have gone to the up side is people are selling off stocks which is what was happening. Not only are they selling off stocks but give you a great opportunity to look for those stocks that you havent owned for whatever reason. I hadnt owned certain names for Different Reasons. Some of them is because i thought they were too high i didnt like their pe levels. It gave mean opportunity t
Let that sink in for a moment. 16 just this week were not even done. President trump announcing a travel ban on all nonu. S. Citizens coming in from europe were awaiting details on a stimulus plan or domestic response to ensure containment mitigation and increased testing capabilities right here in the u. S. Were talking to three ceos today. Group one auto, redfin and verizon ceo about how these companies are dealing with the fall out and what the impact of this virus will be on the overall economy. Lets get right to our reporters covering the story for us rick ismonitoring the action i the bond action. We begin with steve on the phone with the latest on this move by the fed. Its been about an hour for markets to digest it people are still trying to figure it all out here it looks like the Federal Reserve is going to do a series of masds ifr operations to put it this way, it will be a trillion dollars a week in the following ways a half a trillion dollars was done at 1 30 today a half
Arrows across the board. Nothing by more than a percentage point the dax is up just over a 10th a percentage point not surprising anyone with any expectations more rate cuts could come if the economy slows. 10year yielding 2. 237 . I saw there were three dissents they failed to point out one of them wanted to go 50 the future Federal Reserve, in raining. Right wanted the cut by 50 basis points a Job Interview right in the general news, they said, the Federal Reserve was doing okay it looks like a great economy but there are things to consider beyond the globe i thought that was his best perfo performance yet. Maybe not what you were hoping for and ending up on the day, you were effective am i here over there. Smile for the camera okay. New reports about how was that was that fake . New reports about at t plans for direct tv. Stock moving a little bit. Reporting the giant is considering options including spinoff. Fake news is it fake . I have taken calls on this. This is fake news. I sh