Days to reach 100,000 cases and the third 100,000 just four days. Governments arere wrappining up measures in response. Uk Prime Minister johnson announced a strict lockdown. People will only be allowed to leavee h home foror essenential shoppingng or exexercise. Police have the power to fine anyone who disobeys. In france the Prime Minister said lockdown measures scheduled to end march 31st could be extended for several more weeks. French people who to out currently need a form that explains why. Those who fail to comply face a fine of 150. The government says that beginning tuesday people will only be allowed to exercise once a day within a kilometer of their home. He added that open air market, should be closed. Translator i cant be ignorant of the Current Situation when i see what happens in italy. I think following the governments advice is the best thing for everyone. Egypt has closed tourist spots. Translator stores and souvenir shops are closed. Im sure that people are affected
In credit and money supply, Chinas Central Bank has given another indication that would that it will hold off on any major stimulus. Live today from beijing. Scott, what does this say about the state of chinas economy . Not going toere see any big bang in stimulus these days. We are also not going to see any major pullback just yet. The economy grew at 7. 5 in the Second Quarter. The forecasts are that it is going to stay close to that rate for the rest of the year. We have heard these kinds of warnings before, but it is interesting coming directly from the central bank, which obviously should have a handle on the situation. A secondquarter Monetary Policy report. How does this one compare with the previous statements we have from the pboc . Actually, back in november, they issued a report, another quarterly Monetary Policy report and said it is going to be a longterm deal averaging in chinas economy. Not repeatedually that phrase since then and i dont believe it was in the latest repo
Thats a thing of great beauty after the volatility that we had last week. Takes the gains for the year to 6 . Joining us now for the exchange, ralph siegel and jim carr and Jennifer Vail also with us, and our very own rick santelli. Ralph, let me kick off with you. This is a very, very strong week. It indeed has been. The market seem to be focused on fundamentals. Earnings better than we might have expected. And its rejecting accordingly. Yeah. To that minority, 3m in the wake of the earnings up 8 . Phil, where do we go from here in your view . I see the s p going higher. We think adding another 2 to 3 above the years total is a possibility. I think its a wonderful time in the market. Its all coming up roses, rick santelli. Listen. I never want to deny improvement. Talking about improvement, you have to have a baseline and i try to Pay Attention to historic baselines. Theres a lot of underperformance in the economy. Countries underperforming by momo more. Not a lot changed since that d
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