Astrazeneca is to resume vaccine trials. Virus numbers rise but travelers defy warnings to stay home. Imports of u. S. Goods closed slowed last month. David amidst all of that and a overnighthat markets we are getting futures coming online in about 60 minutes. Been a veryt has good past two weeks for global equities. The nikkei 225 flirting with 27,000. Kiwi dollar has been standing on the platform. They are not getting a lot of action. It has been about a weak dollar. About vaccineing reflation trade. Astrazeneca will run another global trial. Amid questions about the program and the level of protection. Initial test claims varying degrees of efficacy, sometimes as high as 90 . Our Deputy Managing Editor has the story. We have been asking a lot of the experts whether they can explain the gap between efficacy depending on the number of doses. No one has managed to come up with much of a thesis. Is that why there saying more trials are needed . Is that why they are saying more trials ar
Saying china is the greatest threat to democracy worldwide. The u. S. The bloomberg u. S. Dollar index. Crude getting a lift after an opec agreement that came through. Theyre going to be keeping curbs in place in terms of production but we could see on a month by month basis some of those curbs being removed. Agrees to ease cuts more gradually. Gold about 1 10 of 1 lower. Bitcoin using some of its sheen and declinings extensive 1 . With all that in mind, lets find out what is happening in new york. Karina we start with the news on pfizer. It slumped on reported may ship only half of the vaccines it planned to this year. Issues supply chain will cut it to 50 million. Anthony found she is taking the u. K. For rushing to clear the pfizer vaccine. Moderna claims it shows what it claims is durability. Republican Senate Majority leader Mitch Mcconnell is calling for a smaller more focused stimulus package for the u. S. Economy as democrats scale back demands to find a route forward. The base
Los angeles orders residents to stayathome. The clock ticks. France warns it could veto a trade deal between the u. K. And the eu if it doesnt like the terms. It comes as officials on both sides of the deal could be done in the next few days. Increased scrutiny. The house of representatives clears a china delisting bill, sending it to president trump. The measure could lead to companies being kicked off of the american exchanges. 6 00 in london. 7 00 in paris. 10 00 in downtime see iop. We have the lifeline of stimulus. Stimulus against the risk, the u. S. Deadliest day of hospitalizations so far. The reality of covid is trumped by stimulus. Good morning. Annmarie if i would have told you a few years ago that we would have the s p 500 hitting a fresh record high at the same u. S. Had its deadliest day with 2700 people dying due to covid. You would not believe me. This divergence between the market and the reality of covid is yet again playing out. Manus indeed. I take you back 24 hours
The last 24 hours. Tom what is interesting is the microanalysis of france or germany. Interesting conclusions. Heres what matters. Hospitalization capacity and the number of deaths is front and center for the pros. Jonathan and for market participants, desensitized by the numbers, conditions by the experience of earlier in spring. Markets that if that markets go up, and if they policymakers step in. Tom it is real simple here. Yes, all of that is true, but. Lso noted, a society adapting stimulus may be, the adoption of a set of vaccines, but also corporations adjusting to try to better 2021. Jonathan lets hope we get some better economic data. 8 30 eastern, jobless claims just around the corner. We got from 3m this morning. They are going to cut 3 of their staff, 2900 jobs. This comes amid the concern, how much can we see these terrible pandemic numbers without longerterm impact on that future outlook in 2021 . At 8 00 a. M. , we are getting the rest of the opec meeting on out cuts on
This is widely expected. This is the vaccine that was found to be 94. 5 effective in the primary analysis. There is discussion about possibly having some sort of meeting later in the month with the fda to make the approval. We heard from officials over the weekend that they are going to try to approve it in fast order. If you take a look at markets, not the response you would think, at least not much. Jonathan it has been the diminishing marginal rate of the additional vaccine news in this market that has diminished over the last several weeks. Equity futures down 0. 4 percent. Expectations are already so well anchored by the vaccine news weve had over the last several weeks. We are down 0. 4 on the s p 500. In the bond market, yields up by a basis point or two to 0. 85 on the 10 year. The news isnt this morning. It is the cumulative impact of the last several weeks and now it is shaped the forward outlook under a much better way compared to what we face right now in the here and now i