jonathan: of course, by all means, go on. dir. kudlow: you had a sermon jonathan: with all respect, that was not a sermon. dir. kudlow: there are other ways to do with these problems. throwing money at them is not the only answer. you have to create economic growth and incentive. we are willing to spend money. that s not the point. the president has endorsed another round of direct mail checks. he has endorsed that. he has also endorsed continued unemployment assistance. the question is, what is the overall policy to make sure that it makes sense that there are incentives to go back to work? we have a very full-fledged plan to do exactly that. we want to reward people and the businesses they work for to go back to work. we will extend the tpt. that is part of our package. i m not going to negotiate, but that is in the mix. we have retention credit for new jobs, we have benefits for reemployment. we should give existing workers a tremendous boost to income. even in five mont
we went to a bull steepener from a bear steepener. time never global exchange. we bring you today s market moving news from all around the world. joining us from hong kong s fromberg s karen leigh, mumbai are bloomberg executive producer, and michael mckee is in washington. we want to kick it off in hong kong, where chief executive carrie lam invoked emergency powers and banned facemasks as protests continue. not an easyis decision to legislate to ban the masks, but given the current situation in hong kong, this is a necessary decision. alix: karen leigh has more. what s been the response? not a great response from protesters. people are gathering in the city center as we speak. they started gathering while carrie lam was still speaking. people worried this would give police power to go and arrest people, search without a warrant , and in an extreme situation, shut down the internet. it has a huge potential to impact life here. it is something people are upset about. it could
its biggest monthly gain since october of 2015. the dow gaining 7.7% for its best month in more than three years. the nasdaq was up by 10% a gain of 9.7% oil gaining 18%. that is its best start to the new year ever. nasdaq indicated down by 26 points also, treasury yields this morning, if you want to take a quick look at what s happening, you can see the yield at this point for the ten-year, wow, down even lower. 2.6725%. . on the 1987 a 22% one-day drop in the dow, i think, which do the math. it s like that would be we would leave here, you know, on wall street. they would be walking around the building like yeah, as it is first week goes, supposedly, the month goes, and that s those two were true as the month goes, so goes the year we were talking earlier that we re back to 2,700 on the s&p, and i m totally agnostic, and i don t want to jinx anything. all the guys that were bullish last year at 3,000 or above on the s&p, they all chickened out and believe
the s&p was down by close to 2.5% then it was the nasdaq that got hit hard it was down by 202 points, a decline of 3%. worst daily performance since december 7th of last year, when it was down by just more than that the nasdaq is bouncing back this morning. the news out of china, the united states and china will hold trade talks in beijing. on january 7th and 8th china s commerce ministry making thatnnouncement today. and over an hour ago, the pboc saying they will cut reserve requirements by 100 basis points as the government looks to counter risks of a sharper slowdown yesterday we spoke with michelle caruso-cabrera who talked about the shadow banking the crackdown there and the impact that s been having. this may be one way to get some liquidity back in the market the peoples bank of china trying to refresh the market over there some are commenting this is a relatively expected move related to the funding operations there in china definitely was taken by the market as so
points a big back swing upwards after the losses and volatility a couple weeks before. the s&p is indicated up by fin last three days which hasn t happened in quite awhile right now the nasdaq is indicated up by 6 points let s look at treasury yields. you will see the treasuries now, the ten-year is yielding 3.165%. if you check out what s happening in europe, at this hour you can see we are looking at gains across the board. biggest gainer of the major averages is the dax in germany, up by 1.1% italy is up by 1%. stocks are higher in spain, too. wti yesterday closing down another 2.5% to a seven-month low. another 16 cents lower this morning. 63.52. you got that from santoli yeah. we have a cnbc contributor joining us today, andrew ross sorkin thank you welcome back good to see you you re leaving at 7:00 congratulations big day yesterday. we had a big conference yesterday. you did a lot of stuff a lot of pictures of you just looking like a you looked like y