Time now for our top market moving news from our new york team. Joining me Bloomberg Opinion columnist brooke sutherland. What were some of your Key Takeaways . Brooke i think what is interesting is target talks about First Quarter comparable sales being up, but nearly all of that was from digital. Digital comparable sales were 141 in the quarter. Those sales come at a cost. They are more expensive. The natural supply chain dynamics of delivering products to homes rather than having them purchased instore is more expensive for target, so you are seeing that market squeeze. Clothes,rent buying where target gets more of a higher profit margin. They were buying food any essentials. Is this a structural shift . Are people getting so used to ordering online that they will continue to order these items . They did also callout market share gains, which is key. Given Amazon Logistics troubles, are you going to be seeing customers rediscovering target and walmart, some of these longerlasting st
Demand. Ng server taking a look at the csx 300, up three tens of 1 . China unicom out with numbers. It shrank in the First Quarter. Page, take ap the look at where oil is. From the uglylly selloff to below zero. Futures in new york rising. Climbing after falling to a 21 year yield. The old story is about Global Demand shock. About two unveil a supplement fiscal package after the economy suffered its worst contraction since the financial crisis in the First Quarter. Fiscal stimulus our next guest says for skill stimulus plans are ineffective. Turning us now is jim walker. Joining us now is jim walker. Good morning. You say it is about businesses. Jim exactly. Type ofa very different crisis from the ones we have seen under the past where recessions and even the asian crisis you could take as being a downturn in demand. This is really a government mandated cessation of business. While governments are forcing businesses to lucked out and people to stay at home, basically, it is incumbent o
The answer is not for a long time even the greatest optimists think a mass vaccine in the middle of 2021 maybe something smaller this fall the idea of something that is just given to you in the hospital iv that makes it so it eliminates the lets say the odds of you dying, its something that makes us feel like maybe this is the tamiflu for this dreaded disease i think, of course that makes people feel more optimistic. Everybody wants the country open, but nobody wants to do its been that stark, that bipolar. How about we get it open versus getting really sick. Thats something that people will say open it up, thats why the market is flying its not the tamiflu, its for when you are already fairly sick its very important i dont want to discount it in any way, listening to Scott Gottlieb has been one of the more rational voices on this throughout. He frames it properly. We actually do still need those antivirals that would be taken earlier in the course of the disease to mitigate its effect
Vonnie the nasdaq its office lows. Is off its the s p 500 down 2. 5 . The worst performer right now is pvh, performing pretty poorly, down about 15 . Many of the Energy Companies are lower, as well. Y runhas been such a whipp for them. Netflix is the best performer today, holding onto games of 4 plus. After the dismal Economic Data which we were anticipating, but still a sticker shock, the 10 year yield is at 65 basis points. I want to point out, ray dalio said a moment to on Bloomberg Television you would be crazy to own bonds. Go back and have a look at that interview if you want to hear more. The vix a little more elevated once again today. Guy lets get some more insight into what is happening on these markets. We are joined on the phone by graham secker, Morgan Stanley equities strategist. Equity markets a little whippy, as vonnie said. How do you see the riskreward right now . Graham good afternoon. From a european standpoint, we dont really like the riskreward here. We thought it
Then we got hit by a pandemic and now we have mass unemployment and things like that thats the fear system leaving and this is the the hardening system the hard money system and touring and to join us through this time we have gear mo who we we met in mexico city said am ex say he was so wise and he told us about hard money so hes actually pretty hard if you pick him up its really hard unlike plucky who eat took with us through the central banking field idea of corn chaining hes quarantining but hes really floppy you know he can barely hold the worlds most famous central banker hes the most famous central banker but this is hard money era so we have a stone cold headed just like your jacket weve been signaling this so we have to join us to talk about briefs for the deepest recession on record says bank of america analysts as jobless claims surge to 6600000. 00 they believe that Unemployment Rate is going to go to 15. 6 percent up from 3. 5 percent in february so thats a huge rise in Un