Day where we can see some real progress. Charles what this means for businesses coming up, what this means for businessing coming up. Plus as more may be needed, a man whose devotion to the constitution sparked a uproar on friday. Kentucky congressman Thomas Massie will be one of my favorite guests today. Food network host guy fieri joins us spores forces with other Celebrity Chefs to create a relief fund for restaurant workers across the country. He will join me at the government of the hour. All that and much more on making money. Charles briefly exited bear market territory. The s p, nasdaq however, remain more than 20 off their alltime highs. Not all bear markets, folks, are the same. In fact according to Goldman Sachs there are three types of bear markets. You have got structural, the ones with the most devastating downsize. Theyre caused by financial imbalances. You have cyclical. These correspond with normal slowing economic cycles. Then event driven. Event driven bear markets a
People in africa but officially barely 50 coronavirus deaths across the continent ahead of the w. H. O. Says those numbers should be seen as a warning. But top u. S. Official facing the coronavirus says expect 200000 deaths and millions of infections. And from profit making to Community Building Time Restaurants night feeding our support locals. For the top u. K. Health official has offered a stark assessment of how long it may be before life here and elsewhere goes back to what we all took for granted just a few weeks ago the u. K. Steps the chief medical officer says social distancing rules will be refuse after 3 weeks but says that it may be 6 months before life can return to normal dr jenny harris says relaxing social distancing efforts sisu could risk a dangerous 2nd pick meanwhile in the u. S. The countrys foremost Infectious Disease expert says the virus may cause as many as 200000 deaths along with millions of infections dr anthony for she offered that prognosis as the federal
We bring you todays market moving news from around the world. Our bloomberg voices are on the ground with this mornings top stories. We want to begin with china. The government has agreed to cut import tariffs on a wide range. F goods joining us is stephen engle. Break down what we know about the tariffs, why now, etc. Stephen this comes fresh after a trade one agreement a phase one trade agreement. A gesture, yes, to show its lowering trade barriers, but it also wants to spur domestic spending for those 859 products he mentioned, from smartphone parts to food, in particular, frozen pork. All of these products will enjoy lower tariffs, and it comes as china hosts a critical trilateral summit this week that has already kicked off in beijing between china and japan. South korea will also take part. Trade, territorial disputes, military maneuverings, of course, exacerbated by north thoses posturing, and all historical animosities still persist. So those talks should be welcome. Been korea
The charge and treasury yields surge as markets are at record all time closing high territory for the major averages joining us for the hour, stephanie link good afternoon to you. Today is what trade headlines that push us higher but with that rise in yields is improving sentiment. Three thing its trade and obviously the roll backs on tariffs. Potentially. Well have to see how that works out. Earnings earnings are better. 2 better than expected. Not great. Flattish overall but next year even though numbers have come down still looking at 10 Earnings Growth. Maybe the story is Third Quarter, Fourth Quarter is trough in earnings and most important to me what is driving the risk on trade is Global Growth stability if you look at german factory orders, you look at german pmi services yesterday, you look at italys pmis, they are not great but stabilizing. Thats causing yields to rise and with it the cyclicals sector big final hour here thanks for being with us lets drill down on the other b
Pressures for boeing, downgrades at Credit Suisse and ubs renewed congressional scrutiny, shares tumbling 10 on the past week. Opioids on trial in ohio for Drug Companies reaching a last minute settlement ahead of a landmark First Federal opioid case. And Mark Zuckerberg speaking out, why the facebook ceo tells nbc news it is more important to be understood than it is to be liked. Shares of boeing under pressure, having its worst day in more than 2 1 2 years, losing almost 7 friday. As we said, Credit Suisse and ubs cut the stock to neutral from buy today boeing under scrutiny following the revelations of the emails from 2016, which called into question the safety of the 737 max jets Flight Control system. The board met over the weekend, expressed regret over the message, continuing to investigate. Dennis muilenburg is scheduled to testify at house transportation next week reuters suggested this Board Meeting in texas may consider things like job cuts and some other kinds of trimmings