Of europe. Early on, we saw the autos up more. 1. 36 ,os are only up 1. 42 . The german tenyear now catching a bit as well, negative 0. 44. David from Credit Suisse is going to be joining us to give us his technical picture about what is happening here. He is certainly very interested in how the markets close at the end of the week. David is coming up from Credit Suisse, the head of ta at Credit Suisse. That will come up at roughly half past the hour. ÷bthe u. K. Story today, very g. We are watching very carefully as the data comes in. Is it worse than anticipated . Today, a little bit. That was certainly the gdp weed. Basically, we wiped out 18 years of growth in the month of april. The new of england, governor of the bank of england andrew bailey, has just done a poll interview. What play a clip of that, the governor has to say. There is question about how much longterm damage that will be and that is what we have to be focused on because that is where jobs get lost and where damag
Saying it will reopen 100 stores in the u. S. This week and progress on the vaccine front with heavy hitters stepping in which well have much more on. We will and not just are we excited about the new package there, the music is exciting i had seen the graphic, but i add not heard this music they should just playing through the whole hour to keep people on their toes very dynamic and thanks to the team for making it work. 59 minutes left of the show and big guests to come a huge exclusive with the ceo of merck. Ken frazier. Hell join us as they lay out their strategy to battle the coronavirus. Plus, mt. Sinai teaming one a slew of companies to support front line workers well speak with the ceo and ceo of pinterest. Mike is drilling down on the action meg is tracking progress on the vaccine front and wilfred has new comments from jamie dimon, but mike, first to you on this Broader Market and take ussen inside what are you seeing . Yes, obviously have broken above these levels everybody
Unemployment claims last week, but we are seeing sectors most sensitive to economic reopening. Sharply hire American Airlines rilgt now, trade iing up some 45 wilfred. Its actually pared some of those gains. About 43 . Ahead on todays show, tim ryan has a six step plan outlining his companys pledge to support black lives and it goes well beyond cash donations. Hell join us with his message plus, a key question for millions of newly unemployed americans. What happens when federal stimulus programs run out . Lets focus though on the big stories were watching today first of all mike is tracking the Market Action phil lebeau is watching a huge surge for airlines before the pullback and Courtney Reagan covering a battle between landlords and retailers, but mike, lets start with you and the broader markets. Hard to make too much of this headline softness after such a sprint that the market has had take a look at the two year chart the s p has had. We did see today mostly, the nasdaq 100, cli
That really made an impression on markets in europe. Lets look at how we are faring in the United States because we are down here, too, though not by as much. The 10 year yield at 65 basis points. Crude oil has erased any gains at saw after the drawdown in inventories earlier. 5. 42now trading hunting a barrel for wti it is now trading at 25. 42 a barrel for wti. Fed chair jay powell speaking this morning to adam posen of the Peterson Institute in washington, d. C. He pushed back against the idea of negative Interest Rates in the United States. He urged monetary and fiscal policy makers to rise to the challenge in order to avoid unprecedented downside risk. Chair powell while the economic response has been timely and appropriately large, it may not be the final chapter given that the path ahead is both highly uncertain and subject to significant downside risks. Economic forecasts are uncertain at the best of times, and today the virus raises a new set of questions. Vonnie for more, we
Future and later, President Trump says the time for negative Interest Rates is now. So were breaking out our crystal ball to see what the market will look like in a world of negative rates and we start with the market selloff the stocks tumbling after the path forward is highly uncertain and subject to many downside risks. The prolonged recession and weak recovery can discourage business advancement and expansion further limiting the growth of jobs and the pace of technological advancement. The result could be an extended period of low productivity growth and stagnant incomes. And then theres this, Stanley Drunkenmiller telling the Economic Club of new york that the risk reward for equities may be as bad as hes ever seen and scott telling scott wapner that this may be the second most overvalued market hes ever experienced so did the markets just get a big dose of reality, guy first of all, i know youre not in charge of music at cnbcs fast money and im getting ready for the twitter hatr