Flow and that is a macro positive. Week, itked about last suggests there is some optimism on the part of traders that may be some sort of scenario around airlines could some serve stimulus could get done but theres so much uncertainty. Airlines have been outperforming more recently. Getd are we starting to something on the 10 year yield . Abigail we are still in that range. The 10 year yield is trying to move to the top of the range in the range is about 5080 basis points with the fed as a buyer keeping bonds in that range. Its hard to know whether it will be broken. Another market is amazon. The s p and the nasdaq are down in amazon in amazons down for its for the day in a row after the prime day event, suggesting some folks may not be to my optimistic about those results. Maybe americans of had Online Shopping fatigue. David one of the risks of the is the continued possibility of more stimulus and the election which is now 15 days away. Is with us, always a delight to have you with u
Retail sales and Industrial Production gained momentum in september. The economy is set for a faster rebound than any of its peers. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Vonnie it is 1 00 p. M. In new york, 6 00 p. M. In london, and 1 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. Here are the top stories we are following on the bloomberg and from around the world. U. S. Stimulus negotiations approach another tipping point. Secretary mnuchin and Speaker Pelosi will resume their conversations in about two hours, as the House Speakers preelection deadline zooms. How much trouble are airlines and without federal aid . We will speak to sara nelson, the International President of the association of flight attendants. And a big bet on shale. Conocophillips mobileye Concho Resources, the largest shale industry deal since the collapse
Restrictions but many businesses and states are seeking additional financial assistance. 8 30 a. M. Eastern treasury secretary Steven Mnuchin will join me live on how to help recover from the pandemic. Retail continues to struggles. J. Crew to file for bankruptcy this morning. We are expecting that. Take a look at futures, indicating a decline 266 points and nasdaq lower by 73 on top of selloff on friday which led the u. S. Markets in the red for the week, take a look, mornings with maria is live right now. Tensions between the United States and china are growing. Dax index in germany down 368 points right now. Sharp decline there. Manufacturing and construction starting back up in italy today. Shops set to reopen in ten days followed by bars and restaurants in june, in italy. In asia overnight losses in hong kong and south korea. Hong kongs gdp for the First Quarter decreasing, much steeper fall than expected. Hong kong down better than 4 . Markets in china closed for holiday as well
Damage assessment economists expected payroll reports to show 22 million job losses, taking unemployment levels to their highest since the 1940s. Neel kashkari says the impact will be devastating. And customer orders slump. We speak to the ceo. Lots still ahead in the trading day. We will talk about siemens numbers and the lack of visibility. We also get plenty of analysis for the jobs report which we expect to see later today. With that in mind, lets take a look at futures. It seems we have found plenty of reason to be cheerful this friday. We will not have any trading in london because it is a Public Holiday, but we have plenty of positive trading coming in from the Asian Session and indeed, in the futures, we see that reflected. Futures point higher by around 1. 3 while european futures, where we see moves to the upside. Euro stocks futures up by a similar amount. Of focus on reopening, which seems to be taking place or being planned for in various parts of europe and in some cases
Another basis point added when it comes to the german tenyear. We continue to see the buck getting bid. 1. 0865 when it comes to eurodollar. Vonnie in the u. S. , a nice rally after that tweet that saudi arabia is looking for an urgent opec meeting, and then, as if that rally wasnt enough, the president tweeted again taught thing it could be as much as 15 Million Barrels. He just casually added another 5 Million Barrels to the amount that saudi and russia would have to agree to deplete their production by. 1. 75 right now. A lot of that is due to the energy index. 14 , andd as much as it is still up about 12 . Many of the oil, gas, energy, and equipment, particularly drillers rallying off the back of that. Elsewhere, we have 10 year yield at 60 basis points. The dollar index is above 100 right now. Get some more on this oil story. We are joined by bloomberg Senior Editor of commodities and energy. Lets talk a little bit about whether or not this is actually going to happen. The preside