Employees. Bank of america and Morgan Stanley among big banks reporting. Dow component Johnson Johnson right here. Futures in the red. We are standing by for retail sales and jobless claims this morning at 8 30 a. M. Eastern. Stocks edging higher, Investor Sentiment over covid19 vaccine pushing markets into the green. The dow industrials up 227 points, nasdaq up 62 and s p up 29. The state of travel today airlines in the midst of a sharp downturn as pandemic fears keep travelers grounded at 7 30 a. M. Eastern ill be joined by ceo of delta edward bastian. Plus this, drink up, how moderate Alcohol Consumption can protect against cognitive decline. Mornings with maria is live right now. Maria european markets on the decline. Standing by for the ecb decision for the next hour, rates are expected to stay unchanged. Ftse 100 is down 36 points, new data this morning from the uk shows half a million workers were furloughed in the month of may. Thats in response to the pandemic shutdown. This m
So we are looking at case counts going up and in equity market going up. We are seeing treasuries coming off, you see three bits today, but what we are seeing as well is a steeper and steeper curve. What does that signal, and ultimately will we see Central Banks stepping on that . What we have coming up for the rest of this program, we have a great our lined up. Lets talk about the highlights coming up later in the hour. We are going to get more oversight as to what is happening in china. Alpine chief strategist will be coming alpine macros chief strategist is joining us. Here in europe, the ecb is warning that the eurozone faces about two years of downward pressure during a webinar this weekend. The ecb president , Christine Lagarde said she does see a turnaround after that. Inflation dynamics will be impacted with disinflation to begin with, and then inflation that will occur, that we will have to anticipate, that we will have to measure, but it will be most likely based if we have a
Session here. We are seeing korean stocks up, some 4 . This has certainly been a shift in the risk on sentiment we are seeing. The concerns over the waves are being brushed aside. Across assetsg here. When it comes to your bond, we are seeing yield ticking higher. 73 basis points for your u. S. Tenyear. We saw a rise but it is petering off. Did selloff overnight. Take a look at currencies, the dollar dropped will be the key story here. That is living these markets here today. As aen has been steady rock here. Despite the volatility we have seen. That should give some breathing room for the boj. Perhaps they are likely to sit tight when it comes to policy levers but look for hints on what they do with the Corporate Funding program. Youre seeing that dollar is really trickling through here. The taiwanese dollar is blaring green here today. We are up a third of 1 . The korean won strengthening. 7 . Mmb is unchanged. There has been a sense that the feds have the markets back. Letting the C
Lets go to kailey leinz. What ist to talk about leading todays session. It is big tech names like apple. Of course, they are heavy, seen insulated from any kind of virus resurgence. What is second to tech come underneath the surface of the s p, is utilities. Usually we see utilities getting a boost from lower yields that are kind of high dividend stocks. More the story is that it is summertime and things are starting to get hot. We are expecting temperatures over 100 and some parts of the american west. That is good for electricity companies, the likes of dominion higher between 2 and 5 . Stayathome Companies Like wayfair, a big beneficiary over the course of the pandemic. Other big beneficiaries have been range resources and of course oil companies. Wey are up around 200 as have seen oil recover from the negative pricings we saw a few months ago. Moderna as well. Really big news we have seen. We have also seen dramatic moves in the bond market. We have the fed coming in with unprecede
I know youre loathe to lay into fiscal policy but given forecast for Unemployment Rates, do you think its important that congress extend the extra unemployment benefits. I think were trying to keep our comments on fiscal policy at a high level ill come to your specific question let me just say this, this is the biggest economic shock in the u. S. And in the world really in living memory we went from the lowest level of unemployment in 50 years to the highest level in close to 90 years and we did it in two months extraordinary. Appropriately the response there fiscal authorities has been large, forceful, and very quick by the standards of these things roughly 3 trillion congress has authorized, and thats benefiting households, laid off workers, small and medium businesses, hospitals, state and local governments, 14 of gdp, its in a class by itself in terms of both the size and the speed of it. Its also pretty innovative. Both the ppp and Unemployment Insurance are quite innovative in th