Suspending production in South Carolina green arrows across the board. The dow will open about 600 points also looking at the green on the nasdaq and s p 500 if you take a look at what is happening in the treasury as well s p indicated up 72 points in the treasury, youll also see what is happening on the yield in that front. It is the 10year that is yielding closely at 7. 04 . Lets get everybody updated on the latest on the pandemic numbers. Nearly 11,000 people in the u. S. Have died from covid19. The country has more than 361,000 cases. New york has 131,000 of those cases. New jersey reaching a grim milestone with more than 1,000 deaths in the state. Overseas, we have positive numbers from italy that reports its lowest daily number of new cases since march 17 spain reporting its lowest number since march 22nd. The second time since january, china reported no new coronavirus deaths reporting 30 new asymptomatic cases and two with symptoms. President trump has struck a deal to buy mill
2. 3 trillion gauntlet against the economic catastrophe caused by the pandemic it was remarkable move coming within seconds of the devastating news that 6. 6 million more people filed for Unemployment Insurance last week the averages were actually able to rally including the down and out stocks dow gaining 286 points s p climbing 1. 54 nasdaq advancing 7. 7 . Without powells extraordinary i was blown away extraordinary announcement, the hideous jobless claims would have pancaked the stock market. Weve gone from the strongest labor market in a half century to one of the weakest in no time flat it didnt matter to wall street because the fed is buying all kinds of distressed debt you dont see i keep saying its so important. Buying municipals. Some of those are hurting. Buy high yield Corporate Bonds thats fabulous news because those were two big pressure points in this rapidly deteriorating economy. What a difference from the old days between the 2. 2 trillion rescue package from congress
They keep opec happy there are now more than 368,000 confirmed coronavirus cases in the United States. This is according to Johns Hopkins. How they tracking the virus and if peak in new cases is near lets send oifrt to kelly. I always feel better when i see you in that lovely set up there. Thank you bob is tracking the market moves for us bob, lets start with you. Were coming off the highs here. A few sectors are participating. Its good to see the banks up again. Its good to see the Energy Stocks up as well. Its good to see retail up as well tech curiously is lagging here apple is doing nothing today the consumer names not doing too much the kroger, general mills. These had big rally or they out performs in a down week overall theres some big movers that people are saying. Look at kohls up 28 . These stocks have been cut in half kohls was 5 45 a month ago an now its 17 carnival was up big two or three times more than it was right now. Simon property, kimco. All of these stocks have bee
To create theranos. Doing any lab test from a tiny drop of blood from the finger. From a finger. Oh, my god, this is a rocketship. She was able to put a magic spell on people with her big, blue eyes and deep voice. The whole steve jobs look. The youngest selfmade female billionaire, magazine cover after magazine cover after news article, blog post, speech. The golden girl of Silicon Valley. Part of the new time 100 list. Only problem it didnt work. Did ms. Holmes know theranos could not do all those tests . Yes, she knew. This is a product that didnt work. Not only did they fool the investors all the nanotainers. They fooled patients, doctors. Elizabeth holmes charged with massive fraud. Elizabeth holmes and another former executive await a trial. Holmes pleaded not guilty. I am so incredibly humbled. Enough, Elizabeth Holmes. Listen, this company is a fraud. This is an investigation by the securities and Exchange Commission in the matter of theranos, inc. Elizabeth holmes, grilled by
How did the market worry when there is so much despair over the coronavirus. There is a seething anger sweeping this country and it is directed point blank at wall street this relentless rally seems unfair, it seems senseless and heartless. Thousands of people are dying. And Money Managers are cheering the most enthusiastic stock comeback in living memorial. Do you gaining another 559 points and s p climbs and nasdaq pulling almost 9 . How the heck is that even possible well why dont we start with peoples exhibit a against both me and the market here is a picture from last week when the wild rally had been cemented in the history books. The dows best week since 1938 then my head then breaking news more than 16 million americans have lost jobs in three weeks. 16 million full disclosure, i didnt order this curious juxtaposition to show you how i am. Most of you own stocks are not short sellers. Believe me there is no joy in stock film right now and i agree it is messed up. But the contra