Earth. Charles President Trump announcing executive actions on Police Procedures as congress rushes to respond to the mass demonstrations across the country and the changing attitudes across this country. Well get the very latest from the white house and reaction from gianno caldwell. More advancement on today trucks, being called, cheap, available, effective in the fight against the coronavirus. That is helping this market too. Well give you the details. All that and so much more on making money. Charles so all the major indices are higher right now propelled by more evidence of the economys resolve and of course wall street wants steady economic gains. They still want steady fed accommodation as well. Todays retail sales a record, coupled with todays Empire State Manufacturing survey, join that with the may jobs report and the evidence is pretty clear, the stock market rally is not mindless consequence of a army of day traders but a prescient signal after vshaped recovery. President
Opened incredibly strong and then petered out and then at the end of the day, a lazarus afternoon. Was it too many people with one foot out of the door pretty much when you try to rebound from 1800 down yesterday, you get these anxious people who ran into a wall of sellers and were delighted to get out at a higher price. The sellers didnt care but didnt want a repeat of yesterday. Once the sellers were done, the buyers came back we are still in the grips of one of the craziest times i have ever seen. At least there is enthusiasm you have tons of new investors attracted by low dollar stocks and crazy hours. People can trade at 4 00 a. M clubs all over the place they blitz in and buy tons of shares with the hopes that someone else will take them out at a higher price. All of these people rely on other buyers to come in after they bought their stocks sometimes it works and sometimes it doesnt these buyers buy certain stocks each morning and bet it will go higher when it works, its great.
Well, ceo of farr, miller, and washington hope everybody is doing well lets check on the markets today. Give you a look at what stocks are doing this hour. 2. 66 down for the dow nasdaq still down 2 and the russell seems to be either the outperformer on the upside or the down side and that is where we find ourselves today. So steve weiss, let me turn to you as we begin our debate on stocks today i is a uh you said earlier today in a note that youre surprised that were down as much as we are today. Why . Well, you know, none of the news dish mean, the numbers were new and maybe slaps you in the face when you see them versus what your expectation is, so the reality sometimes takes you lower. Look, we have so many pundits and strategists come out and say, im so bullish now or im more optimistic, et cetera it brought some weak hands into the market im not surprised that weve sold off a little bit. Thats the kind of market were in but im surprised we took it down this much however, if you l
Eight days, getting a little bit of relief. Euro still seeing very strong buying in the treasury markets. You are buying equities, buying commodities, and buying treasuries. Thats what you are seeing into the weekend. Time now for global exchange, where we bring you todays market moving news from around the world, from washington to new york to london. Oil. Gin with the move and crude continuing to climb after its biggest ever single day gain. All trump says he may intervene in the price war between saudi arabia and russia that has rocked crude markets. Here was more is annmarie hordern. Intervene how, and does anyone care . Annmarie it is interesting how exactly he would do this. He said he has some power over the situation, and would get involved at the appropriate time, may be giving riyadh some chance to potentially swamp the world with oil and put the pressure on russia. Then we heard from president Vladimir Putin in an incredible scoop by our moscow bureau. He says they say he is
Breaking news. U. S. Stock market futures are limit down even as the Federal Reserve slashed rates to stave off recession in the face of a global coronavirus threat. Life in america changing rapidly as governments at every level take drastic and unprecedented steps to try to slow the spread of the pandemic. Major retailers including nike and apple, shutting their doors for weeks. Well talk about the fallout for the u. S. Economy it is monday, march 16, 2020 squawk box begins right now. Good morning im becky quick at cnbc headquarters joe kernen and Andrew Ross Sorkin u. S. Equity futures hitting limit down after dropping 5 that means they cant trade any lower this morning those are the curbs set up by the exchanges. You will continue to watch whats happening with the etfs, however, because they are not held to the same restrictions. Can you see the dow etf is down by 9 . The s p etf down by almost 9 . That gives you a better idea of where the major averages would open if we were open h