Good thursday morning. Welcome to squawk on the street. Im carl kint nia and jim cramer still over 1 million for the 20th straight week ahead of the jobs number. Leader mcconnell will join us on the stimulus talks that continue on the hill followed by Speaker Pelosi later this hour, jim, as we continue to get reports that the two sides are trillions of dollars apart. Yeah. This is a day where we have to find out in our interviews whether theres any hope for compromise because if there isnt, youre going to see a full open business that will make the unemployment numbers very rearview mirror. A lot of people recognize that theyre trying to figure out, is washington playing partisan politics do they genuinely want to deal maybe they dont we will find out during this show. You think well find out . Well talk to mcconnell first, jim. Yeah, i do. A billing part of that is sort of the fragility of the republican caucus. As mcconnell has said this week, jim, he has 20 senators who feels we hav
All of faang higher with names like paypal up 5 today. We have two bad final hours of trade over the last two sessions and we have sold off over the last couple of hours off the session highs as we stand. Ahead on todays show, well speak exclusively with Thomas Barkin on the heels of another massive jobless number why he says we may be at the bottom of the downturn he just said that on a podcast about an hour ago. Plus, former treasury secretary, jack lew, will join us to discuss the governments tuss efforts and whether cash is going to the right places and the countdown to another big afternoon of earnings. Uber, roku, dropbox and trip adviserme adviser. Well bring you all the numbers you need the know as soon as they hit were off the session highs. Dow high was 430 points. Up 206 just shy of a percent s p 500 and nasdaq still up more than lets focus on the big stories mike is tracking the market rally. Meg has the latest on moderna jumping on news surrounding its vaccine candidate, b
The second world war. Futures are rising. Oil retreats after a meeting with Top Producers is delayed. Talk is tough. We are just under an hour away from the start of cash Equities Trading in europe. Gains looking at decent across European Equity indexes. If you take a look at u. S. Futures, you see gains. Asian stocks advanced as well as these gains that we have seen. Daily reported death tolls and some hotspots dropped on sunday. Boris johnson was put into the hospital. Lets get into the markets right now. Lets talk about risk sentiments. Are we talking more about a risk on day because traders think maybe we have somehow peaked in terms of the coronavirus threat . Futures are telling us it will be a risk on day. If we look at daily fatalities, on april 5, they are the lowest in a month. We are seeing a flattening of the curve in countries like spain and italy. U. S. States saw the first reported decline in daily fatalities. That thissoon to call will be the end of the market pressure
Plus and russia signaled they want to try to cut output to help restore some balance going on at least on the supplyside of things. So crude of course having a pretty good start to the second quarter. I do want to flip up the board and fold it over into some analysis we heard from muhammad el 5 arian between the risks of the high yield market and investment bond market. He said beware of fallen angels. Theres a risk of some of these triple credits being downgraded to junk. One of the biggest risks is it spikes way above the feds tolerance. You buy what the fed is buying but becareful of these fallen angels and we saw just a slew of those in the last week and i think strategists are arguing it really could get a lot worse from here. David . 12340e9 taylor this is Bloomberg Markets balance of power. Earlier we did speak to larry kudlow, the economic counselor director. Lets listen in to what he had o say. Lets listen in to larry kudlow. Lets take a look at some of lets get a check on wha
On the u. S. Economy. Down now about 3. 5 or so. Small caps artificially underperforming for the fifth time in six days. All on concerns about the strength or lack of strength within the u. S. Economy. I do want to take a look at the vix. If there is any bright spot going on, it is that it is hovering below 50. It is the first time going back to march 11, so it looks like there could be a little bit of an improvement here. Certainly feels better than the height of an 80 handle that we had. We do start to get more comforted when the vix is falling along with the s p 500. Traders hoping to find a floor here. Nextre starting to see the falling a little bit again today. I want to flip up the board. Ending on a light note. That is something we are trying to do everyone to a while. Its all about what you are doing if you are working from home. Apparently, we are going to be drinking. A lot of alcohol purchases. Week ofcreasing the march 21. Aree of thewin most, 66 and 75 . Beer, about 42 . V