Say, someone who believed that things may not bottom. And i think hes switched. He may say its not in dramatic fashion because its near the middle of his piece, not at the top. I do believe what were seeing is a gigantic amount of liquidity put in by the fed, when it looked like things might go back down that mattered a lot. A lot of companies that dont have great credit are getting money. Thats important we saw the retailers go up last week it wasnt because retail sales were good, but because their credit was so bad, maybe they get a chance to raise money. Ge raising money a lot of companies are raising money that would not be able to raise money. That is going to be a major change to keep a lot of companies out of bankruptcy and in the same way that the oil deal might Keep Companies out of bankruptcy david, you know theres so much debt being issued now. And theres some opportunities for people who want to buy debt, but holy cow, is the government wide open to buying anything on thurs
Tweet me jimkraim he were worst day since the crash of 87, the dow at the lowest close in two years no s p plummeting 9. 8 , nasdaq 12. 32 , a truly sickening day with a horrendous last hour. Its finally dawning on people were in a real crisis here. Ive been telling you this pandemic could be real bad news for stocks, since i came back from the super bowl we were underestimating the coming outbreak send us into i want to say a recession, because i think that its pretty obvious that thats kind of where were going. People did underestimate the coming outbreak and as far as im concerned it really isnt one of the situations where we can just ride it out we have to think about it. We have to figure out what to do we have to work together, and ive got some ideas, theyre not simple ideas theyre ideas involving opportunity, theyre ideas involving what i regard as being lets just say some things that happen that are good when the market goes down, but were not ready yet. First, lets talk about
State of austria it is thursday, march 5, 2020. Worldwide exchange begins right now. Welcome to the show,we are kicking off this thursday morning with wall street waiting for another wild day on track since 2011 there have been four swings in the dow you can see those two splochs represent the single point gain adding some 190 points alone futures are telling a different story this morning. The s p down by 65 the nasdaq down by almost 100 at this stage in the bond market, the 10year is back above this we are right around the 1 mark. The twoyear note yields 30year long bonds there early trade in europe now. We are seeing red across the screen the dax off 1 ftse 100 off by 1. 3 denmark and turkey, the only markets showing signs of life in trade. Overnight sessions in asia will swing that way the shanghai composite up 2 . Well go to matt for more on asian trade. Asian markets mostly ending in positive territory after that big snap for us, one patch of red hear the china markets and hong k
To the inability to get a nafta replacement deal done with mexico and canada, to the federal reserves lack of sensitivity to the strong dollar put it all together and the industrial economy just cant catch a break. And thats why the market exploded higher on that robust employment figure. Dow gaining 373 points, s p soaring 1. 2 nasdaq surging 1. 40 it didnt hurt that we were oversold look, i know the Unemployment Rate is down to 3. 5 lowest in nearly 50 years. But it has to do with the makeup of the economy the manufacturing side of the ledger is not just doing that well the weakness in manufacturing hiring gives fed chief jay powell all the ammo he needs to justify cutting the federal funds rate that may make it more in sync with the traditional curve of low short rates to higher long ones normally, you wouldnt expect the fed to hit the accelerator with the jobless rate this low, but wages are still stagnant and theres no inflation to speak of basically, if powell is asking himself,
Guidance plus media moves warner bros. Discovery missing airbnb shares are also falling ahead of the opening the company sees robust demand for travel, but its guidance disappoints investors. The ceo will join us in a few minutes. Lets begin with a few momentum names today, including one of the beneficiaries of the a. I. Boom, and thats arm holdings, down sharply as guidance comes in below consensus. But shares of the chip designer still up 90 from the september ipo price of 51 a share revenue up 47 licensing up 60. Yeah, look, i think that rene haas will be able to tell a good story, that there was really one question on the Conference Call by a goldman analyst whos very, very good, which knocked the stock down, which explained the dow is a 70 sequential problem when it comes to the some of the royalty arrangements they were basically saying, david, that it was internet of things and automotive. That is not unusual. That is what everyone has been saying, like on semi has been saying t