Michele. This is one of the most difficult things to accept, that this market does not have to reflect what is going on in this economy. Can you speak to that . Bob i can speak to that because im in the bond market and it is reflecting perfectly what is going on. We just printed 33 gdp. There is a giant hole that we think will take 10 years to fill the output gap that has been created. The fed is telling us for a long period of time they will keep rates at zero because they have to bring the cost of funding down across the system so that any kind of recovery takes hold. Slowly, Bond Investors are recognizing that, and that has emboldened them to move further up the curve both in terms of duration and lower in credit quality. Jonathan we have had conversations about market distortions. The equity market, Big Tech Companies dominating the benchmarks in the u. S. What is the cleanest trade in fixed income to play an economy that would take 10 years to fully recover . Bob there are two cle
555 dow points. Ahead on todays show, were going to dive into this plunge in oil prices, what it means for the u. S. Economy and jobs to the financial losses reverberating through the market right now plus we will speak with illinois governor j. B. Pritzker and former commerce secretary Penny Pritzker, his sister, about illinoiss battle against the coronavirus and the race for more protective gear and testing. Lets focus in on the big stories were watching with 58 minutes left of trading. Brian sul vab focusing on crude oil collapse, mike santoli will tie that in with broad movements were seeing today latest on the snag on government funding. Brian, first to you on this unprecedented move in oil. A day for the history books. It is a day for the history books. Ending a futures contract in negative 30 or what it was. Sara and wolf, it doesnt make sense as i talked about in power lunch as well. We started the day around 10. We continued to fall now negative 30 these are contracts. Negativ
Our roadmap begins with shares of amazon soaring in the premarket after a Solid Earnings report. Well dig into that report plus how amazons game plan is going after netflix. And becky catches up with Warren Buffett in omaha. And more on apples rough month. What does it need to recover . Exxon and chevron out with earnings. What you need to know about big oil and all the energy names leading the way isnt the s p this month. First up, amazon up sharply after posting its most profitable quarter ever. Revenue growth the highest in almost four years. The sales in the companys Cloud Computing business up 64 . And then theres the upbeat guidance, the margins story, the operating net out of web Services Bigger than their north american business. I have to tell you, you know, on the Conference Call, the Conference Call is very flat. People understand amazon Conference Call its almost like its being spit out by amazon itself. Its just a very without any emotion. When youre seeing numbers and mar
Europe. Chicago pmi in 45 minutes. Sales beat for starbucks, comps up 8 . Stock is down in afterhours and is clawing back. Valeant makes another controversial decision and is cutting ties with philidor. Monitoring bill ackmans Conference Call. And linkedin and expedia, both stocks spiking. Well hear from both ceos late their morning. Data shows consumer spenting rose only 0. 1 in september. Bo bo stocks are on track to extend that weekly winning streak to five and post the best month in four years. Best dow names . Dupont, followed by microsoft, followed by ge. Okay. Lets talk about those. Ge, the execution, getting out of financial. Dupont, that is breen, going to break up the company. These are very, very important. Also both large trian positions. Trian has nelson peltz has made a lot of good pushes. Done a lot of good things. I think breen, without peltz on the board, will follow peltz game plan. Even though dupont had a miserable quarter, ed breen issued by any means necessary a m
Downward direction either. Not changed. Re has a mixed picture between them. Pull we arethe push experiencing here. Not exactly equal, red and green, interred data in terms of up and down. Nonetheless, declines in energy and health care are definitely dragging down the overall averages, putting pressure. Take a look at oil prices and you will see what is going on with Energy Stocks. Off theil has come off lows, still lower. Sachs, in agoldman worstcase scenario were mild weather continues in the u. S. And europe, we could see it fall to as low as 20 per barrel, causing some concern. In terms of health care, these stories all day, United Health backconsidering scaling the informal care act. Allergan getting closer to a deal but will they face resistance from the administration in terms of the tax aversion status potentially of such a deal . Utilities are the best performers . Yes, they are doing the best today. It looks like what is going on in the bond market. Yields on treasuries and