The economy, pretty much at a dead stop until may, maybe longer. The market is looking to the other side of the virus problem and surely welcomes more financial help. However, stocks are ending the worst month since 2008 and the dow will open lower this morning, off maybe 140 points. Similar story for the s p and for the nasdaq. A down opening bell today. The price of oil, well, that remains at depression levels. This morning we are in the low 20 per barrel and the average price of gasoline, you got to look at this, the National Average gas price has dropped below 2 a gallon. 1. 99, thats your number this morning. The price is dropping about two cents a day but so what . Demand has cratered, the roads are empty, and few people are taking advantage of dirtcheap gas. Now, this caused a stir yesterday. The u. S. Navy hospital ship arrived in new york and was greeted by crowds of onlookers. They were breaking social distancing rules. Those people who were holed up in their apartments and h
Tomorrow mini super tuesday primaries but big eyeses on biggest prize michigan and Sanders Campaign survive . It is monday it is march 9th fbn am l starts right now. Lauren welcome a manic monday indeed im lauren simonetti. Cheryl a lot to get to good morning im cheryl casone. Lauren take a look at how your money is moving moving this mors of now Dow Jones Industrial average dropping at the open that is a decline almost 5 . The s p set to drop 14 a 5 points nasdaq down 410. All three major averages down 4. 9 this morning. Reminder, last week the markets finished in the green. Cheryl lets take a look at what caused selloff this morning that is the oil story we told you about that at the top of the show this fight between saudi and russians oil is down 21 right now. And one point wti what youre looking at a was down 31 and co coalition and saudi slashed oil prices here they are. Lauren been a rally in bond market pushing yielding on tenure treasury down record lows. It did hit 0. 3 in ch
The day. Halftime report starts now. Welcome g good to have you with us our Investment Committee at the table today. Also with us on set today is cnbc senior economics reporter Steve Liesman in a few moments, as you heard, joined by adam bain stocks focussing on the fed. The twoday meeting underway why they expect to cut rates tomorrow the question is as we asked at the top, is it the week that sets stocks on a course for a new milestone or not its possible i want to be constructive here so if youre looking at if youre looking at technicals, you can say, okay, for the First Time Since last september, youve now got 72 of the s p 500 above the 200 day, which means more than twothirds of stocks almost 3 4 are in their own structure bull market. That happened last october i dont know how forward looking it is. It is a positive especially when you consider the fact that were getting participation from across the market its not very narrow its very broad. That being said, theres junky retail
Seconds is that right. That is correct. It is not exhausted. Nothing is exhausted. I think they would like to make a deal. They would like to make a deal. They would like to do it on certain terms and conditions and we wont do that. At some point it will work out in my opinion. The problem was the deal that was signed by the Previous Administration was a disaster, which by the way would be expiring in a very short period of time also. So you really dont have a deal. That deal was a very short term deal. They made a deal but it was for a very short period of time. So that deal would be expiring soon. Yes . Reporter are you asking israel and saudis to Work Together on this issue and always. I encourage everybody to Work Together. The middle east is an interesting place. Historically have not been working together too well. No, israel is starting to Work Together with a lot of countries you wouldnt have thought possible two years ago. Yes . Reporter did you promise the saudis that the u.
350000000. 00 but russias holdings of quadrupled over the last decade the jewelry industry uses about 2000 tonnes of gold every year worth around 85000000000. 00 but its people in india that have believed to hold the most gold estimated to be worth around 1. 00 trillion dollars so is that extra demand for gold or is this just investors seeking a safe haven to find out were joined via skype by gavin wendt gavin is the founding director and senior resource analyst at sydney based mine life good to have you with us gavin so whats behind golds recent rally well weve seen a number of fact is that conspire exactly the right time. Dr gold are there in some more recent fact is. I guess related to things in the last week for example related to u. S. Interest rate cuts. Trade issues uncertainty with respect to britain and iran an ongoing Economic Council. That we can actually trace goals i guess. Strong momentum. Back to probably the g f c back in 2000 and night the tremendous amount of spending