Market rs doing because they did see a significant bounce around about midday when the president said he would be addressing the nation at 3 00 p. M. And with it came the eck peckation that he would declare a state of emergency. That took us off the lows of the session. Were splitting the difference it was up 1339s at the high, 85 and currently 865 points lots to discuss. Straight to eamon javers who is outside the white house. Eamon, what are the key things we might be expecting from this from the president well one of the things were going to be looking for is whether he makes any mention of the bill na that nancy pelosi said hes going to pass as early as this afternoon in terms of dealing with the virus a Senior Administration official told me that the white house still objects to several provisions in that measure will the president embrace it or discard it thats a key question. Lori ann is reporting that Steven Mnuchin was on the phone with speaker of the house nancy pelosi shortl
Eamon javers is inside the meeting. Meg, what can we expect outside of this meeting . We did see the executives head in just a few moments ago as well as research chiefs theyre expected to discuss the status of development of both vaccine and drugs for the novel coronavirus. Gilead and regeneron have medicines in development, while the others are working on vaccines, as moderna las already delivered a batch for testling Stephanie Duke is catching up with stan erk, asking what he hoping to get from this meeting. Im hoping to get a commitment from the government theyll help us expedite the process. The case numbers are continuing to rice here, with seattle and king county just announcing an additional four deaths, bringing the total in this country to six. Guys what are you expecting, meg, in terms of the numbers of those that are diagnosed, given the fact that the cdc apparently is starting to provide more contests or is it in addition, we are starting to see local Public Health labs, a
Based on the risk off the further markets. It is time now for global exchange. We will bring you todays market moving news from all around the world. Our bloomberg voices are on the ground with this mornings top stories. Where to begin in asia, the coronavirus continues to spread in china, with the number of confirmed cases climbing above 75,000. Engle. Me is Stephen Stephen for the second time in about a week, china has rejigged its methodology for how to classify confirmed cases of the coronavirus in china, that has led to this now becoming a bit of a global crisis. We are seeing more speculation that the data we are getting is we necessarily reliable, or are seeing a significant dropoff in the number of confirmed cases. In hubei province, just 349 new cases reported overnight. Is that because of the new methodology, or do they have the containment efforts under control . That is raising a lot of confusion and questions. Also, it adds to suspicion that officials in china may be prema
Eeked out a two basis point gain but it could have been worse and it should have been worse and was at one point in the day very ugly but the nasdaq rallied in the close taking the market with it. I kept from the very beginning, from the opening bell, where are the sellers. Where are they why arent they reacting to that ugly warning that we got monday from apple why is everything no matter how negative treated as a buying opportunity. It is like there is always something to be said for instead of and i think i know the answer. I think it is the index funds. 60 is coming in via index funds and they buy everything, including the stocks that should be getting hammered by bad news. And they buy in waves and they are in control of this stock market not mutual fund or Hedge Fund Managers either. Yes, index fund buyers i know people call this market a bubble and blame an easy fed but maybe, just maybe, listen to me, there is no one toblame. You simply have Many Companies doing well and compan
Also take a look at whats happening in the treasury market 10year is yielding 1. 816 counting zeros here four commons 12 zeros Google Parent Company alphabet now has 12 zeros, also four commas becoming the fourth u. S. Tech company to reach a 1 trillion valuation joining apple, microsoft and amazon, amazon has since dipped below that mark cramer last night talking about another member is microsoft. Weighing in on the controversy on apple and how much it should aid Law Enforcement by opening locked e locked iphones or maybe creating a backdoor for Law Enforcement you cannot be cool. You have to be cool on your own. You have to take pride on the digital capability you have built. No press release with us or anyone else will do it you will need to build your dig call capability and by the way trust. There is a conversation about privacy already. We have to engender the trust. You as retailers are the keepers of the most important data you have to build trust. Whether importance or privacy