Good. You were with us last on march 23rd you said then, this could be near a bottom. You said that you were, quote, nibbling and it was time to buy a little if you were a longerterm investor are you surprised how far weve come and how quickly weve gone there since that day yeah, its been a bigger move than i thought it would be, for sure but look, theres been a lot of fed action and a lot of government packages since that day and on that day and since that day and, you know, a lot of that probably moved the market than it has the real economy up to this point. So those things happen now the question is, whats the right value for the market now well, thats an interesting question your friend, stan drukenmiller yesterday said this was the worst the risk reward for stocks was maybe as bad as hes seen it in his career. Hes had a long career, david. So do you feel the same way that stanley does how would you put this into context now as to what the right valuation for the market is . Dans
From the billionaire buyer about his 240 restaurants that are back in business open once again. Hell join us later. First, over to you as we mentioned, fed chair Jerome Powell testifying on the cares act today. Lets bring in steve for more. Steve. Thanks very much, kelly the treasury secretary and the fed chairman defending the programs that are out there. The critical questions being how soon will this money be delivered. Is it going to the right people and is it enough of it out there . Poul w powell was asked about the question and here is his response regarding maybe more needs to be done this is the biggest response by congress ever and the biggest from us and this is the biggest shot we have seen in living memory and the question looms in the air of is it enough. He seems to suggest that more may need to be done. Congress wanted to know where is the money they appropriated and the fed is yet to launch several programs here is graphic that may help you understand where this money
Is it a u . Maybe its an l. Or perhaps its a z. Or maybe its a w. Or a nike swish. We keep hearing people argue about the shape of the recovery. But this whole debate misses the point. The defining question of this market is very simple. Will we have a depression . Anything that makes a depression less likely causes stocks to explode higher thats what yesterdays rally was about. Even though we gave up some of the gains today, im calling it a consolidation day no matter what dow sinking, nasdaq dipping 5. 4 when you have a bag r big rally yesterday and it us diddant give up everything because of a Late Afternoon sell off, it is a of a kelgs. The issue is not whether well have a rapid v, recovery u, bounce the w, l shape, i dont know the l, of course, is the house of pain for ages maybe we havent started talking about the swish because of the Michael Jordan series. The market slows down dramatically all the people fretting about the shape of the recovery are getting ahead of themselves.
Hello im down in jordan this is our jazeera live from doha also coming up buckling under the pressure perus Health System is on the brink of collapse as cases of coronavirus soar plus. 3. 10. And a new era for space travelers to nasa astronauts blast off from their mission to the International Space station. Welcome to the program cities across the United States are entering a 4th day of violent protests as anger over the death of george floyd a black man who died in Police Custody continues to spread new protests are broken out in los angeles where a Police Cruiser was set on fire other demonstrations are being held in New York Miami and chicago in minnesota where george floyd was killed the governor says hes fully mobilizing the National Guard for the 1st time in the States History but warns he still doesnt have enough troops meanwhile President Trump says the authorities that need to get tougher and offer to send in the National Military this while appearing to encourage a counter p
Everything from pharmaceuticals begin to develop right now governors announce plans to reopen while others are tightening their restrictions. With the number of infected americans inching its way toward the one million mark pressure is mounting on the white house to develop a national strategy. In the bay area six counties are extending their stay at home orders until the end of the month. Authorities in california arrest two men in a multimillion dollar scheme. They tried to sell 4 million of protect i ha protective equipment that they didnt have. They even slapped fake 3m labels on empty boxes they are facing fraud charges. And its important to stay connected. Veriz veriz verizon, comcast and at t has vowed to not enforce late payment fees the franchise valued at more than 3. 7 billion decided to return the money after the loan was made public. The houwhite house is ready ramp up testing for coronavirus. They are prepared to send all 50 states enough tests to screen at least 2 of res