Definitely a flight to safety today and for the entire week when it comes to stocks in general. Lets take a look at this tenyear note, the yield on that, because it continues to move lower as investors are buying bonds, the yield moves lower. We havent seen the inverted yield curve with the three month this low since september. The concern from investors here, what theyll read into it, is that the Coronavirus Impact could potentially, potentially cause a recession, and so were getting that talk circulating back on the floor again. Meantime, were seeing a big move in gold today too, another 25, supporting the idea that people are worried about the virus, the notion that the chinese may not be telling us the whole entire story and that its moving outside of china quicker than we thought. The final point ill make about this is, yes, apple said it was going to have a big impact on its first quarter, but coke saying its going to take a penny or two off the ets, but were going to hold on to fullyear guidance, were going to maintain it. Theyre not in full panic mode yet. So this continues to be a wait and see, but when i said it was going to cause volatility, weve seen that over the course of the last four weeks or so. Back to you. Neil thank you very much, jackie. To put this in perspective, where moneys going, where its not going, take a look at whats happening to a 30year bond, the lowest it has ever been, like ever, and the 10year, multiyear lows. A lot of the trading instruments, mortgages, home equity loans attached to that, so that could be a good underpinning, the 10year at about 1. 47 . Were keeping a very close eye on. That larry kudlow over at the white house says the impact here, so far minimal. I understand the risks, and i understand these things could change quickly. But right now what we know theres barely any impact here9 a home here at home, regret by both in human and economic terms. Neil all right. What is the real impact here . Judging by the markets sort of, you know, extreme reaction either up or down to this, obviously it is moving based on everything going on in china. To political strategist greg value year, janny chief investment separate mark la shinny. You know, mark if, end with you and beginning with you on what the markets are telling us today on a down week. I always wonder whether theyre using this as an excuse to take some profits, not go into a weekend, you know, where anything and probably will happen. What do you think . I think its a couple of those things, neil. The fact of the matter is, the market isnt inexpensive. Were trading about 19 times forward earning, and it would have been something that might have put pressure on on stock prices. Clearly, investors really struggling day over day as to what the potential impact is from this. I mean, its very fluid. We dont know what the magnitude of the Economic Impact is going to be on china, and so far the reverberations here in the United States have been pretty modest we had some excellent reports already this week about manufacturing act death in the u. S. Except for activity in the u. S. Except for today where we got a market pmi reading that was relatively soft compared to last month. We dont know fully the extent of what the impact is going to mean to corporate earnings and economic activity. At this point its hard to make a hard and fast judgment at what the outcome is going to be. Neil greg, you look at Consumer Confidence surveys and just americans view of where they stand, where their kids stand, were rook aring at multi looking at multiyear highs, levels we havent seen since around 20012005. What do you make of that . Ive been on the road seeing investors and the u. S. And canada, and i they almost unanimously say the markets are underestimating the virus, and maybe one of the reasons why the markets have held unfairly well is a belief that there may have to be more stimulus, monetary and fiscal, not just in china. Maybe even the Federal Reserve by mid year may have to cut rates again if this virus doesnt come under control. Neil you know, im beginning to wonder, mark, whether we can trust and ive said this before a lot of the information were getting out of china. Ive always suspected that with gdp reports and all that. Theyre not reliable, theyve reneged on trade deals in the past, but to say we largely rely on data or stats coming out of china courtesy of the chinese government. And im wondering if we hang our hat on that to our own risk. What do you think . Oh, i would agree. And i would say that because of this concern we may not even be close to seeing this peak. It could be several more weeks before this really peaks, and i think during that period the volatility in stock markets will only increase. Neil you know, mark, taking a separate look at whats been happening in some of the markets, technology for however beaten up its gotten in the last couple of days has still advanced appreciably, about 78 on the year. If you look at the nasdaq, even more, nasdaq 100, even more. If you look at whats been going on with apple. Then, lo and behold, Berkshire Berkshire hathaway has a big bet on apple. I think it represents about 14 of its overall portfolio or weighting here. Thats a lot. What do you make of that . Well, it really is. It has something to do with the performance of apple, but since he bought it in early 2016, its up 185 . In fact, apples up 85 in just the last year alone. That compares to a 20 gain in the s p 500 and relative to his other Top Ten Holdings in berkshire hathaway, the next best performers are jpmorgan and cocacola up about 30 in one year. A lot of that sizing has to do with the appreciation in apple specifically. But needless to say, its also a Great Company with a business that is something that he would be attracted to. As for typical investors having any position represent 14 of the portfolio might be an overweight that deserves some trimming, but it doesnt have to be an indictment of the prospects of apple going forward. Neil greg, i know youre not steeped in stocks and all that, but i always think that a lot of Companies Might use whats going on in china as a convenient excuse if they have a bad quarter or, you know, a lousy period. Yep. Neil and it will feed on itself. In other words, it could be a pall over the markets, something to hang on to and say, all right, if not for that, be doing a lot better. Of course, theres no way to prove that, but what do you think . Its a slippery slope, but as a washington analyst id say this, neil, all this talk about break up the tech industry, the banks, all this stuff were hearing from the left, from the democrats is crazy. Its never going to happen. You have to assume a premise that the senate would go along, and that simply is not going to occur. Neil no, out takes a crisis to get a lot of that stuff done, right in and they would are to be elected in a crisis wave and a full sweep of the house and senate, and thats tough to pull off. Things could change. Yep, absolutely. Neil thank you both very much. The dow down 168 points, we are dealing with record lows in interest rates, but record low Mortgage Rates today as well. And, of course, gold advancing to multiyear highs, i believe better than sevenandahalf year highs, were on that. And on the candidate who might be running out of cash but staking a lot on what happens in nevada. Caucuses that wrap up tomorrow afternoon. Were there tomorrow live not literally, but covering it live and the fallout for what could be an interesting market week next week, after this. Ing actor, i need all the breaks that i can get. At liberty butchumal cut. Liberty biberty cut. Well dub it. Liberty mutual customizes your Car Insurance so you only pay for what you need. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. The better question would be where do i not listen to it. While im eating my breakfast. On the edges of cliffs. On a ski lift. Everywhere. Download audible and start listening today. A new kind of investor with an app thats changing the way we do money. Download robinhood now. Can you help keep these iguys protected online . . Easy, connect to the xfi gateway. What about internet speeds that keep up with my gaming . Lets hook you up with the Fastest Internet from xfinity. What about wireless data options for the family . Of course, you can customize and save. Can you save me from this conversation . That we cant do, but come in and see what we can do. Were here to make life simple. Easy. Awesome. Ask. Shop. Discover. At your local xfinity store today. Neil well, you know, they say what happens this vegas stays in vegas, but the candidates are quickly running out of chips here, so some of them are going to need some help from vegas, from the nevada caucuses which are slaipted to end tomorrow around 5 p. M. Eastern time. Its anyones guess what happens the from there, because you have South Carolina week after that and, of course, super tuesday following that. Hillary vaughn has the latest now from las vegas. Hey, hillary. Reporter hey, neil. 2020 democrats running for president are really struggling to keep pace with billionaire Michael Bloombergs spending spree. In super tuesday states, so far bloomberg has spent over 150 million in ads spread out over those 14 states that vote on super tuesday. Vice President Joe Biden and mayor Pete Buttigieg have spent zero on commercials airing in super tuesday states. The mayor tweeted this yesterday my team is going to follow up with more details, but the short of it is weve got to raise about 13 million before super tuesday to be competitive. Senator Bernie Sandersers has spent 11 million on super tuesday ads, senator Elizabeth Warren so far just 300,000. Warren tight on cash. She had to take out a loan after she burned about through about 97 of her campaign war chest. Her Campaign Says shes only used 400,000 of that 3 million loan she took out, but the problem a lot of candidates are running into is they werent expecting or planning to have this many candidates still in the race this late. Neil neil exactly saying, itsa brokeredded convention. No ones going to get on the first ballot. Hillary, we destroy the tapes we dont even have anticipates anymore we destroy whatevers digital. Thank you, hillary, great as always in las vegas where its a dry heat, were today. M. Meanwhile, do not count Michael Bloomberg out. A lot of people are piling on him over his debate performance, but many candidates have poor debate performances and live to tell about it and take a view from the white house after it. To America FirstAction Political Action Committee director of communications, kelly sadler, editor glenn hall and the former democratic congressman harold ford jr. Harold, what is your take on what bloomberg does now . In a way its good that he doesnt have to raise outside funds because hed have a hard time coming up with them after the debate, but wheres he going . Nothing hat really changed in the campaign, he remains the most well funded, the most moderate and the likeliest to be able to take down or defeat Bernie Sanders. Bernie sanders remains that premier progressive in the race, and the question democrats had before the debate is the one we still have today. Im a democrat, who is best situated to take on donald trump and defeat him in the fall. Even after the debate there were not supporters of bloomberg, buttigieg, supporters of biden who believe sanders is that crate. Admittedly, mayor bloomberg did not have a great debate. I suspect he will do much, much better next time, and well continue to ask the question, whom do you believing has the best chance of defeating trump. If you see buttigieg and believe him, he is running out of money. Warren is bragging shes raised more money because of her performance in the debate. Bloombergs going to have to be crisper, smarter, better and be the fighter that he was here in new york as mayor in this next debate. Neil you know, he does have a lot of money, to his point. Im just wondering though whether that debate performance has stopped his rise. We wont know until we see more polls, i guess, and hes not on the ballot in nevada. I dont believe hes on in South Carolina, so his first test would obviously be, you know, on super tuesday. What do you think . Yeah. I think its too soon to count him out. The money is influencing the behavior of the other candidates and influencing the behavior of the voters, so, you know, one debate isnt the end for him. But he did news to does need to step up his game, fire a base right now that he hasnt fully won over. Neil no, you know, i get the distint impression that the white house wants Bernie Sanders to be the democratic nominee. I could be wrong, but is that because they view him as the one whos easily beatable . Well, i mean, theres such aing contrast of records, right . Its freedom versus socialism, and we can easily, you know, put that message forward. The majority of americans are against medicare for all. I mean, the Culinary Union in nevada is against medicare for all because it rips it out of the hands of, you know, privacy insurance and your with neil i mow that, but is it a sense that hes beatable because these views are deemed extreme absolutely. Neil i hear more criticism still of Michael Bloomberg than i do with any other candidate maybe because hes the big worry. What do you think . Well, no, the wall street journal had a poll out, 67 of americans are uncomfortable having a socialist president ial candidate. And if i think thats where youre seeing some with Bernie Sanders, and that is something we will exploit on the campaign trail. Now, with bloomberg, i mean, if the democrats want to have someone come in and buy up their nomination, thats for them to do. Right now were seeing a total fraction in the party. Youve got the socialist versus centrists, none of the centrists look like they want to get out, none of them are going to Team Together to have one solid candidate, so i agree were going to see a brokered convention. Neil normally run the other way [laughter] let me ask you, harold, about the president , where he stands. Hes looking at his highest poll numbers, like ever on his presidency, on the economy certainly the highest. So his argument and the white house argument is, bring em on. What do you think of that . Which is why you need a candidate like a bloomberg or a moderate candidate to be able to take in neil you didnt mention biden. I didnt mean to take joe wilden out of the competition, i dont i dont mean to take him tout conversation either. If youre President Trump looking at those numbers, hes sustained this number for a little bit now. He had lower numbers in 6 and won. The economy in 16 and won. You need a candidate who can describe where we are and how he or shes going to take us to a different place, and i think in this instance its two candidates that have the best opportunity and chance to do that. But weve got a long way to go in this race. Its sad listening to her talking about bloomberg and him buying the race. If thats the only gripe its not the only gripe, believe me i can imagine. Theres more come. Imagine him versus the president of the United States on the debate stage. Im sure Mike Bloomberg would love that opportunity, see how it plays out. Bloomberg has run a big city, he knows what it means to bring out about an economic renaissance after 2007, and democrats, what did democrats believe is their best chance to win the white house, and which person will allow democrats to preserve a majority in the house and maybe win one in the senate. I dont think its sanders, and i think democratic voters are going to have to answer that question in primaries and caucuses going forward. Neil some have said sanders would be the George Mcgovern candidate. A lot of passion in debates but not much in terms of reaction at the poll. We dont know. But leapt me ask about how let me ask about how the markets are playing this, because i dont think theyre factoring anything political at all. They dont see a problem with the president getting reelected. What happens if they do . So what i hear from folks in the market is that aside from the coronavirus, you know, theyre happy with the way things are playing out because a stalemate washington is the ideal scenario for market. Status quo and you can make your bets, right . So theyre looking forward to that. But i think the other side that really needs to be factored in is the economy. The economy is actually doing pretty well. Who gets credit may be up for debate, but the president is doing a very good job of taking the credit and making sure people know this is his economy x. If we see in those polls that youre talking about that the state of the nation, the sense of how our economy is being managed very high, and the president and republicans are getting the credit for it. I think thats part of the trupp r the bump the president got in the polls and acquittal validation which we saw in the clinton years. One question hes going to have to answer, were running a trillion dollar plus debt every year, when bloomberg was the mayor, the city was running a big deficit. He turned it around. When i was in congress, i got beat up in my own party because i believed in iowa rate me arithmetic. The question is if you have sanders running, we will run 23 trillion neil not even on their top ten issues. Right. Unbelievable. Because the economy is maxing those things in this ongoing growth story neil no, i dont its a little disheartening. Depending what happens between now and the election, if we see the markets freak out in a much bigger way, that could turn the tide. Neil no, youre right about that. Real quickly, on that, kelly, Mick Mulvaney is apparently worried that republicans are looking hypocritical on this debt issue, the acting chief of staff saying this used to be ab issue w owned, and its going to come ba