The fed says theyre going to help but it doesnt help the market for them but the london the show you cant afford to mess im good at ive been one in washington to let them know theres a rate cut but it doesnt stop markets from dropping nearly a 1000 points well investigate why the fed intervention is not helping plus i want to talk to you more billions into the tech in the robot were going to tell you about at least one huge acquisition. To pay 500000000. 00 for throttling i phone users in order to push them to purchase new phones and batteries but its 500000000. 00 a year we enough we have a live report so much to get you on the very busy day so lets get started. The Federal Reserve decided to pull the trigger Tuesday Morning and announce an emergency rate cut of 50 bits in response to the growing economic threat from the fallout of the quantum virus this is the 1st time this has been deployed since december of 2008 during the financial crisis as chairman powell said the coronavirus wa
We will look at the reports across the Global Supply chain. Hsbc puts 35,000 jobs on the chopping block. We will find out what the bank is doing to graphs to grapple with the outbreak. Today, you had a drop in the major averages like the s p 500. The chipmakers getting hit the hardest. This is an art this is after apple of course said they would miss quarterly revenue numbers. Means is a flight to quality, you are now down about 23 basis points or so, very curious. Where they think value is for the 10 year. As around day 180 or so. Yield on the long end, that threemonth 10 year now inverted. The most inverted we have seen it since the beginning of the month. A fairlyis going to be busy day in this part of the world. His hollande new zealand trading already. Futures looking flat in australia as well. Metals, one of the big iron ore minors is reporting earnings. Also crown casino. Gold is priced in gold priced in australian dollars is a record. Currencies, the u. S. Dollar performing fai
Brandnew high right there and the nasdaq, poised for another 30 , 30point gain, 9,000, getting close to 9,300 actually, the latest rally very well received the china trade deal, signals new economic relationship between worlds two biggest economists, formers, manufacturers, Tech Companies and they all get help with this and the economy likely insulated from my threat of recession this year. Theres more trade help on the way for the market as well, Mitch Mcconnell says the senate will pass usmca legislation at 11 00 oclock eastern time this morning, so in a matter of days, america concluded deals with four new partners, mexico, canada, china, japan, all good stuff and theres a lot more to come, here is a tease for you n a moment you will hear exactly what senator warren said to senator sanders in the Heated Exchange right after the debate, you know, its fascinating to hear socialists call each other liars, stay right there, its coming for you, promise, Varney Company is about to begin.
Louns lou announced he is stepping down from his ceo role. And scott minerd will tell us why he doesnt think investors should be buying just yet. We have josh here welcome back to you. Interesting dichotomy setting up in the market. The stayathome stocks versus the gooutside pelaton was just hit on power lunch and netflix, zoom, are all outperforming and the goout stocks, the restaurants, the ubers are all getting hit. Theres the pocket of green there. Yeah. Look at live nation they do concerts. Yeah. Theyre thinking people are not going to go out if and when coronavirus comes here in bigger numbers. So the thing with that is that the danger with that is buying into a narrative because the narrative could be popular for two days and then all of a sudden it goes out of favor and people are like what was i thinking why do i own this stock . Because i think people are going to sit home . However, i do own zoom and another name thats been ripping, teledoc this is virtual doctors visits im
Lets have a look at the Chinese Markets. This is where we are getting a little momentum coming to us. We have to wait and see whether volumes come through. Look at the equity markets, the range, it does seem like a lot of these investors are on holiday already. Signs of eye for more stability. 10year, and the spread pretty much at the highest level , i think, late 2018. 30 basis points. It is a quiet day across these markets. We will had to macau, 20 years since the handover. I will leave the markets here for now. Su keenan is a new york. We will start with the Central Banks, which will be making a lot of headlines today with policymakers in asia staying on hold. Bankalf a decade indonesia kept its key rate unchanged for a second straight month. Saying the economy and exports will rebound in 20 between. With governoreld kuroda echoing a more optimistic tone of his colleagues at the fed at the ecb. I think the governments stemless package is appropriate i think the governments stimulus