The june contract plunging as well. Down 35 on the session. The carnage we have seen for oil is not over. We have a rally for bonds on this as investors are seeking safety. The biggest question is it seems crude oil is pricing in some sort of a deep recession, maybe something worse, where stocks on the year are down just 10 , perhaps still pricing in the vshaped recovery, which side is right . It is unclear. Perhaps the truth is somewhere in the middle. David thank you so much to for that market check. It is clear President Trump has inherited a major crisis in the white house. We bring in somebody who is familiar with dealing with prices, the white house chief of staff and secretary of defense as well as other major positions. He also leon panetta he is leon panetta. Thank you for being with us. Give us your view from 40,000 feet. You have dealt with crises inside government. How is the Trump Administration doing as they look at this balance between Public Safety and bring the economy
The s p 500 are lower. Wti trading at 5. 31. We have a lot to discuss about the oil markets. The 40s and staying there. The dollar index inching ever higher. Sticking with the oil markets, we had that etf halted earlier today, as it was tapped out. Lets take a deeper dive in the oil market with taylor riggs. Taylor as you mentioned, a risk off tone across the board even as we look across asset. High yield of debt is down, so is copper. 10 year yields down to 56 basis points or so. The lowest yields going back to march. The dollar is stronger, treasuries are stronger. Dollar is ruling in this time of stress. Something else going on in the oil markets, on the uso etf, it was briefly halted for volatility trading. It is now reopened but we are still down. It does reflect the changes we have seen in the wti contract. It has been plummeting along with the price of oil. If you look at the chart im showing in my terminal, something wonky is going on in the etf market, given there is such a ru
News but the point that different regions of the country have different quote unquote curves, the virus does not hit at the same time at the same rate to you hear about different states in the country and when theyre going to hit their apex, when theyre going to hit their top and when theyre going to come down, its different all across the country. Its also different across the state. Weve been talking about states like theyre uniform, homogenous entities some are more homogenous than others when i was in the federal government i worked in every state, so you have a whole different variety of states. This state, we have very different regions within new york when you say new york, people think new york city. Yeah one of the densest places on the globe. You also have upstate new york where in some counties you have more cows than people. People dont think of new york that way as you see variety across the country, we have variety across the state of new york and you have to watch each o
The charts are thrown haywire by the fact to close negative yesterday. Trading about 5 today june is at 12. July below 21. All sunk considerably just this week lets get more on the interplay of oil, stocks and the earnings. Gets get 0 ever to bob pisani for that this hour hi, bob. Well, you know, that collapse in oil is weighing on things but not quite as much as you might think. It is a little bit more of a general risk off day in terms of coronavirus. Lets show you what the sectors are doing right now. Sitting near the lows for the day essentially. S p 500 down between 70, 80 points throughout the day here senior citiz sectors, technology and financial stocks that are down, thats going to drag Everything Else down. Industrials not doing so well. Energy is down but not muches the rest of the over sectors and thats interesting to see there. Momentum stocks, stocks done well recently, theyre kind of weak today and advance micro has done great recently. Microsoft is getting killed today.
This moment . Expert analysis how you should be positioning your portfolio. Has a deal within reached in washington for more stimulus . Could it be mean more testing and stimulus . Well have more and the answers coming up on making money. Charles markets down for a second day in a road. The hardest hit sectors are not oil. Technology stocks getting absolutely slammed today. We knew after this huge bounce a pullback was inevitable but how deep will it go . How should we be positioned for this . I want to bring in capital wave strategist shah gilani and Divine Capital ceo, dani hughes. Shah, let me start with you. That was amazing vshaped, sharp, strong, stock market recovery, more than probably anyone had anticipated but everyone knew we would pull back. This is part of it. How are you positioning yourself as some people made money buying on the first deep or eager looking at the second dip . If you were lucky enough to time that to get in i wasnt, good luck to you, but i would suggest