Congress is negotiate its next round of Coronavirus Relief for the economy and weve seen a stunning move in oil crude was higher by 2 now down 9 as we await the final details out of the opec meeting. Energy sector now word on the s p. Yeah, been a real reversal there. Coming up on todays show, dan niles tweeting a warning about the rally. Hes going to join us with the risk he sees at these levels, plus, well speak with max levchin. Well ask what his micro loan customers are buying amid the shutdown and his read on the state of start ups right now lets focus on the big stories were watching today though. Steve liesman has detailes on te feds big moves and kayla is following the battle for more stimulus on capitol hill but steve, were going to go to you first to talk about the fed. Yeah, morgan, just quick moves the fed has announce nd the last hour. The its reduce uing the purchases of treasuries and mortgages. Treasuries down from 30 to 50 billion a day. Down to 15 from 25 apparently,
Getting a nice lift today. Nice bounce for tech led by apple. Crude is also jumping today for a change and that perhaps has sentiment a little bit better. I know, joe, youre watching everything so how do you feel today, you know, were trying to rebound. Lets see if we can hold it. Where does it leave us we havent heard from you in a couple of days what do you do and what does the whiteboard suggest hey, scott, good to see you the opportunities are becoming a little bit more limited than they were in the past couple of weeks, obviously, with the market rallying. That being said, i agree with your opening comment oil kind of stepping out of the way and not pressing to the downside thats allowing for some visibility in a lot of the sectors to move higher here. So i still view this as a buy the dip overall market youre looking for and mining for opportunities. I think in the last couple of days, youre mining for those opportunities and some of the places that we had not been in the last co
Banks c. E. O. s Board Members who have in many cases and by the way this is important in many cases they have been taking that money out of their companies while theyve been doing pretty well and theyve been sticking it in their pockets in the form of stock buybacks much of it with money they got from taxpayers government money during previous meltdowns now heaven forbid that i or anyone else should ask the question of whether some of these corporations should simply be allowed to go under is anybody asking that question yes we found one. One maybe lonely example look what happens this is on the c. N. B. C. When a guest challenges the bailouts of their lives now remember c m b c is essentially the wall Street Network in fact many would argue its a 24 hour commercial for bankers and Hedge Fund Managers and c. E. O. s and cetera look what happens when somebody is willing to make the free market argument the capitalist argument that if a company gets wiped out so be it wiped out there ar
Markets as the president suggests it could be two weeks of pain for the country. The indices are lower by about 3 apiece. We are off our lows right now. Some treasury buying on the 10 year. We had a massive build in crude oil inventories. We did see crude oil dip, but we are back at 20. 51. Inventory is the least of market worry at this point. The dollar index 99. 64, just a little bit of lightening up in liquid if the issues and the difficulties in that market. Lets go deeper into the markets and see what the dynamics are. Lets get to kailey leinz. Day, noit is a risk off doubt about it. It was the worst quarter since all the way back in 2008. Today in the second quarter, not starting off on a very positive note. Europeerging markets to to here in the u. S. , all of the Major Industries major indices are down between 2 and 3 , though off of the lows of the session. Really dire warnings about the coronavirus and he told it will take on the economy and corporate profit outlook. Those fe
Our apologies to the half. Lets get to the judge messages of hope can bleed into this program any time thats a certainty its good to have all of you with us today as our breaking coverage continues with the market now stocks surging again today after historying actions by the federal reserve. Just about a 500point gain. Just shy of that just shy of 2 for the dow theres the nasdaq shy of 1 and the russell with a gain of 4 . Are we too far from the lows to turn back now or is this a simple bear market bounce that is likely to reverse josh brown, i turn to you first. We have regained 50 of the losses, where does this take us from here . What does all of this tell us now . Well. At first you would say we are now 28 off the low which is is extremely respectable and historically there have not been very many bear market rallies that have been carried this far. That is incredible just extraordinary after an almost 30 bounce, less than a fifth of the market is back in an up trend. Look at the