Handle. We will see where that goes. We get inventories in 30 minutes. The dollar index is under 100 today. We have stronger currencies out , including the euro. A lot of data out in britain and on the continent overnight. Of course, as you can see, the 1. 2 . 00 down pound isnt as strong as it was earlier in the session. We did get Economic Data that was pretty dire. Gdp contracting a most 6 , but it wasnt as bad as forecast, so perhaps a little bit of a silver lining. Germanys 10 year yield at 62 basis points. Takinglor Angela Merkel on the german constitutional courts commode is going to be a fascinating battle. Delighted to say now we are , type or jimmy dunne send her vice chair, to talk everything market really sandler vicepiper chair, to talk everything markets. Jimmy, thanks for joining. We will get to the fund in a few minutes, the first, even more fun, these markets and the federal reserve. Jay powell seemingly put to bed the idea of negative Interest Rates, but the president
We were effectively at the lower bound already, so that is coming in at 25 basis points. The Canadian Dollar was already weaker before this. It is weaker now by 1. 5 versus the u. S. Dollar. Lets take a look at where we stand markets wise. We knew after the retail sales data we would like to down, and we are. Awn 2. 4 for the s p 500, and move for the 10 year yield is well back down to 66 basis points. Crude oil has recovered ever so slightly. We were at the 19 handle for most of the morning. 42. Vix is back up to what is happening in europe, guy . Btp spread is widening out. It seems every nation for themselves. It seems there will be no mutualization of debt. Every sector is a negative territory right now. The banks and the oil stocks are the worst performers. You got a pound on offer, the dollar generally bid today. The market is looking for a little bit of safety today. Vonnie arent we all . Lets get you our first guest. We are delighted to be joined by joseph stiglitz, Columbia Un
Seeing some good things in its earnings. We are also getting a few good out of a study on a gilead drug, sending shares higher today. It looks like this particular duration taking the drug allowing for the same results, which means we will be able to get more testing done to see if it has an impact on covid19. Guy the data are bad, the science is good. That is probably the message coming out today. The gilead news having a positive effect on european stocks. We are near session highs. Today is aial sector prime driver. Volkswagen trading to the upside. Airbus reporting numbers today, trading around 10 higher today. Outve also had a surprise of cycle downgrade for italy. Yields moving up a little bit, not that much. Big volatility continuing in the crude space. Brent trading up by 10. 5 . Vonnie keep an eye is well on the fed decision this afternoon, and the statement, which will be interesting. Jay powell will hold his virtual News Conference in the afternoon. For his thoughts, we are
Little bit. We are seeing btps with a little but of a bid today. Euro with an offer. It is interesting that stocks are higher and the dollar is higher as well. Crude is also tracking a little bit higher. We are trading on the global 27. 95. K at european markets probably in a bit of a Holding Pattern right now. We are going to carry on the conversation on what is happening with some of these big global banks that are reporting numbers. James gorman of Morgan Stanley was the latest entry into the story today. We will be hearing from mr. Gorman very shortly. This is bloomberg. Welcome to our Bloomberg Television and radio audiences, live from new york city. Im erik schatzker. Morgan stanley reported earnings this morning, and it was mostly a strong performance, given the extraordinary period weve lived through, the volatility in march. With us for an interview is none other than the firms chairman and ceo, james gorman. Thank you for joining us. James thank you for having us. Erik you ha
But how exactly can they get that done . We speak with former ge vice chairman bob lutz in a moment. It and cnbcs coverage of the coronaVirus Outbreak begins right now. Good morning and welcome, im Courtney Reagan live in times square we begin with breaking news. Stocks set to fall at the open at futures overnight hitting their limit down levels once again. We are well off the session lows at the moment. Dow jones industrial average indicated lower to the tune of 1100 points, the nasdaq down by 213 points lets check in on the etfs that track the major averages remember, these are not subject to those limit downs the dow etf is indicating a drop of 3. 75 the spy down by 3 the qqq, that tracks the nasdaq, down by almost 3 . Lets take a look at whats going on in the fixed income market and take a look at treasuries this is a closely watched barometer of everything going on with the economy and the markets. The yield on the tenyear note is sitting at 0. 38 . A rough morning in energy. Gaso