Suggest a post virus recovery. Highest andsides smart and Mark Zuckerberg toends the response controversial president ial tweets but his unstaffed is not agree. But his own staff does not agree. To shrug offng tensions on the streets, curfews being applied in major cities. We are seeing asia heading into the wednesday session looking likely to extend the basking in the globe we saw overnight. We have nikkei futures in australia as well as in hong kong, all pointing to a positive start to trade. The dollar fell overnight, the yen also slunk leading to some positivity out of trading. The rckiwi pair trading at its highest since october, really an indication as we see these outperform, investors feeling risk on despite gdp numbers that could show the first technical recession we are headed into in about 30 years. Pretty flattrading after seven consecutive days of gains. Americans are bracing for another night of unrest. Cities have extended their curfews. Trumpile, president feeling embat
Hindered American Consumers from keeping up with the high levels of american productivity. Her class is about 75 minutes. Its been the last few weeks considering how americans adapted to abundance, between the 1890s and the 1920s. Despite their efforts of producers, advertisers and retailers and of others, the supply of goods continue to outstrip demand. This was not because everyone all hundred 6 million americans had everything they needed. It was because they didnt have adequate purchasing power. They dont have adequate wages or income to buy all of that stuff. And it wasnt just americans who were in the situation. But so to our trading partners around the world. They dont have enough income to buy all of the commodities we were producing in our fields and all the wonderful things are factories were making. So by the end of the 1920s, the American Economy went bust. You will know this. You all know the stock market crashed in 1929. And the World Economy went bust as well. Worldwide
You are watching Worldwide Exchange here on cnbc good morning welcome to the show. Im dominic chu with me for the entire hour is analyst lindsay bell, also a cnbc contributor. Well get to lindsay in a moment breaking news as u. S. Stocks look to open sharply higher after a rocky day on wall street the dow falling almost 1,800 points to march in march when it fell almost 13 . You can see with the time lapse those moves. The dow is now down more than 7 at this stage. S p down nearly 6 , nasdaq down 3 all on track to snap win streaks with the major average this week alone. Yesterday, we continued to watch technology microsoft, facebook, apple, amazon, alphabet all closing sharply lower. Shedding more than, get this, 269 billion in market value this is the nasdaq 100 etf versus the russell 2000 small term etf over the last couple of weeks, w we saw all of that create tiffity in those names and small caps and underperformance there. A trade well watch specifically play out today around the
Mark for the week. Trading ate yuan 7. 1631. Not Much Movement but we will see what happens sunday night following whatever the president tells us today. 1. 11. Ust underneath vix trading at 29. Lets get a deeper dive in todays Market Action with kailey leinz. Be lower inay equities today but we are still positive on the week. It is a friday. That could change, depending on what we hear from President Trump. As it stands, the s p 500 is positive by 2 over the past five days. On the week, it is still the cyclical growth sensitive sectors that have been the best performers. Real estate, financials, industrials. Into cyclicals has wild up a bit, but the fact that they are the best performers underscores how sharp that rotation into the cheaper areas of the market was. Downtioned those beaten sectors are getting beaten down again today, true for apparel and retail stocks. Reported fourthquarter sales were down 40 , but that isnt in your concentric that is an idiosyncratic story. Pvh, ralph
The dow toing 25k. Steph, whats the significance of those big numbers we have now been able to get over . Its very positive. It makes people feel better especially if they were buying back in march and april and may. We have been getting pockets of activity thats picking up like the tsa travel numbers look bet per. Mortgage applications up four weeks in a row these are baby steps what this tells me is yes we had a horrific recession were still in it. Its probably going to recover a little bit faster than i initially expected i dont know if its a v but i think april and may are the worst months of the year on terms of the Economic Data and that we are going to start to see an improvement if you do see an improvement and get the economically sense tifr sto sensitive stocks to rebound, thats very encouraging. If you look at financials, they are down 26 on the year industrials are down 26 on the year these things could have a mean reversion and that could propel us higher along with Techno