The futures contract from the big gains as well. Optimism at the start of this session. A data out of the u. S. We have p. M. I. Numbers. And easing from the impact from the virus. E await that data. Good to from bill have you with us. In the end at the end of the day, it remains strong and solid. This market seems to suggest you cant fight the fed or federal banks and no bad news will sentiment. Y damp the im not sure that i would be that positive about the sentiment. The correction that we saw in march was sort of a classic correction, if you like, with all the things happening in the normal order. But the rally has been defensive in nature. A lot of defensive assets like gold have done very well. And certainly defensive sectors within equity markets, for well. E shes have done we have this massive, massive, monetary and fiscal action by the fed and other Central Banks and governments but im not sure if that turned yet sent metropolitan positive. People are still very, very carbous.
Risk rioting from is just something the market is ignoring right now, which is absolutely amazing. Cominge the headline through, mayor de blasio talking about the curfew for the rest of the week. Alix yeah and today is starts at 8 00 p. M. So in a businesses that are open to provide food, that is now off the table. It also may delay recovery in some states, all of this having an impact on the overall economy. We saw as a noble laureate spoke on the ship of recovery. The pattern we are going to see and are already seeing because the economies in various ways are going through this, is a very sharp drop on then it kind of bottom flat. Where thee period virus is brought back under control. It starts to look like a u. It difficult to argue that we will have a vshaped recovery. The closest anybody has come to it is china and it does not look like a v to me. Alix mark mobius, Mobius Capital Partners cofounder joins us. What are you make of what he said, as well as the pictures of the riots,
Earnings from continuing operations was just 0. 10. Terrible numbers from certain sectors. Iously, retail search obviously, retail front and center. Market, kind of a mixed bag. Terrible data, yet equities tried to stage a rally earlier. Now futures flipping into more negative territory. Definitely the eurodollar and dollaryen are two to watch today. The yen was significantly higher thats butt all dies all eyes really on retail data later. Lets get some more market moving news from our new york and brussels teams. We want to start in the u. S. , where we are expecting more of that dire economic data. Many nonessential stores are closed. We also get Industrial Production. Michael mckee, International Policy and economics correspondent, joins us now. Michael i will give you guidance for the year, dismal. It is only a question of how bad they are going to be. Retail shrank by 8. 7 in march, when things were just getting started. In april, americans spent all of the time at home, not going
Few smiles and the magic kingdom. Disney suffers a coronavirus hit with seem parks shot, movie theaters closed, and sports on hold. Shery a quick check of the market. This after u. S. Stocks gained ground for a second day in the regular session. We have sentiment being boosted as more economies move towards easing lockdowns. Still, in the last hour of trading, there were some cautionary comments on said officials that cut gains in half. New zealand stock scanning. 8 . This would be a Third Session of gains. Therir rate. Rate. Ir we have the rba leave rates unchanged. We are looking forward to retail Sales Numbers very soon and we will see how all of that toilet paper hoarding that we saw in march is reflected in the numbers. Not Much Movement for the japanese at the moment. Tosident trump continues push the theory that the coronavirus originated and escaped from a lab inside wuhan but sources within the u. S. Intelligence Community Say the intelligence is less than definitive. That as
That the hefed puts out, down severely. We will tell you the sectors suffering the most and no, it is not travel and leisure. As the Dow Jones Industrials fall to about 323 points, that percentage is a loss of about 1. 33 but look at the russell 2000 small and midcaps losing near double that amount. This selloff comes as the u. S. Sees the highest number of coronavirus deaths in a single day, 2405. At the same time, President Trump threatening to pull funding from the world health organization. Coming up, one allamerican fortune 500 company is doing the complete opposite. Colgate palmolive teaming up to get its soap to a world absolutely desperate for safe hands. But its the virus antibodies everybody really wants. Coming up, this is the Silicon Valley disruptor that is speeding up plans to launch its lifesaving drones in america. The cofounder and ceo is about to show you, youve got to see this, how they have been delivering blood, plasma and medicine to remote regions in africa for y