1. 1747. , 1934. 74. Another busy week for the markets. 189 s p 500 Companies Due to report. Some already reporting today. We also have the fomc Rate Decision on wednesday as well. We welcome margie patel, Wells Fargo Asset Management Holdings Managing director. Characterize this earnings season for us. It has been encouraging. Last week, we have 20 of companies reporting. 80 of those were above expectations, even though many said they were not in the position to predict earnings for the year. Uncertainty, very pleased with the first reports. You to would that cause be a buyer of these companies, or is it more of a relief that we are not seen the bottom fall out of the market . Margie what it tells you is that, with no proposition from most of the fixed income market, stocks really look reasonably year ifve over the next they can raise their earnings. Many of them are in a position to do that. That is what the markets are reflecting. , theyes dont look bad dont look overpriced compared
Years before resigning to join the trump justice department. He was forced out after his refusal from investigating russian meddling in the 2016 election. That is our first word news. Im Mark Crumpton. 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 from around the world. Schools across the United States prepare for students to return in some form in the fall. Ill be speaking with authority else goes in garcia, the president of the National Education association, representing 3 million Public Education professionals. We will also be speaking with 2u inc. s chip pot check. Position be taking a on how to stop the administration from enforcing those visa rules that would Bar International students. Also discussing the ramifications of colleges going online. Shares of ncino surging today, 71. The ipo was priced at 31. I will speak with the companys ceo about its
Indices were down 2 . Right now the dow is down. 9 . Before some tech earnings, the nasdaq up a quarter percent. A lot of movement in oil. We will be speaking to paul sankey about that. The 10year yield down to 55 basis points. Just to show you that it is Consumer Companies like procter and gamble that are helping the market recover a little bit today, that index up 1. 9 . People cannot do without their necessities, as long as they have the money to buy them. U. S. Economic data showing gdp shrinking at a record pace. 17plus million americans applying for ongoing benefits, which necessitates the need for more to be done. Lets bring in narayana kocherlakota, former president of the minneapolis fed. He joins us from rochester, new york. Talk about the dire Economic Data this morning and what it tells you about whether even the minimal reopening that we are doing is helping the markets more broadly. Narayana thank you for having me on. The numbers were certainly eyeopening. 10 fall transl
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. Welcome to bloomberg markets. Here are the top stories we are following from around the world. Ecb president Christine Lagarde five to support the euro economic recovery from coronavirus all not. She vows to maintain the flood of liquidity that has so far calmed markets. Morgan stanley wraps up the week for bank earnings. Big gains for the trading desk. Helped thedfall that group survived the brunt of the pandemic. The u. S. ,ntioned, u. K. , and cannot say russian state intelligence is hacking into research enters working to develop a covid19 vaccine. We will dig into the reports. Lets get a quick check on the markets. Certainly a risk off day. 500 off of itsp lows of the day, still down about two thirds of a percent. The dollar index, not too much rea
We are just crawling back to flat on the nasdaq. P half a percent. Big moves in treasuries, if you can call it that. Except two basis points on the 10 year. The dollar index relatively unchanged, although other currencies have seen strong swings against the dollar this week. The mexican peso stronger by. 4 . Yen also stronger but are 3 . Lets stick with treasuries and the relatively large moves this week. The industry has more than 12 trillion of assets but record low yields on treasuries are causing a problem for the industry expected to deliver annual returns in the high Single Digits. For more on the subject, we welcome brian chappatta. It seems like maybe once upon a time but right now nobody has an expectation of high Single Digits for their 401 k s or Pension Funds more general. You are not getting it in treasuries. When i was talking about pensions staying away from treasuries, the 30 year bond yield was at 1. 4 . Morning, 1. 24 this which is rare in the fixed income market. Tre