The nasdaq pulling away from alltime highs, the apple one of the five big stocks posting a gain today but while big tech tumbled, the rest of the market was better. The s p 500 less than a percent away from a new alltime high and energy and industrials leading the way. So todays market action, is it a sign florithat the great rota is in place. Guy . It would appear that way. And happy monday and i took french in high school and this move was as we used to say [ speaking Foreign Language we get what youre saying. That is what i said at any rate, it is a pretty and kudos to tim and karen theyve been talking about the transportations for a while in terms of the stocks, look at the move in caterpillar today, a few weeks ago you played trade it or fade it with karen and boeing was 195 and she correctly said to fade it and we talk about how it would trade down to 160 or so and it overshot down at 154. But look at it today, approaching 180. So i think this is a healthy thing. I think those na
How well it weathered the shock of the coronavirus. A blowout performance in fixed income trading beating all but one of the large wall street banks. The cfo does not see an economic recovery anytime soon, though. There is a pickup in activity. It is stronger in some. Said, you should look at the whole world. Level,it is back to the we dont think that will happen until 2022. Nejra lets get more detail on those numbers from bnp paribas. That trading we are talking about, it surged 154 , trailing only Morgan Stanley out of wall street banks. It was a blowout performance of b. N. P. Paribas in fixed income trading. It allows the lender to move past embarrassing losses from equity derivatives at the start of the year. Basically what bnp paribas has said about that jump in fixed trading, it said volumes were driven by governments and corporations selling that to deal with the Coronavirus Crisis as well as Foreign Exchange and commodities, hedging by clients. Those results more than offset w
Economic crisis is hitting the Worlds Biggest Oil company. Im serious someones got to thank you for joining us the coronavirus pandemic has brought the work of nurses into sharp focus as they struggle to care for patients suffering from cope and 19 and around the world today their sacrifices are being honored as part of International Nurses day in sri lanka nurses gathered to pay tribute to the woman credited with creating the modern profession Florence Nightingale today marks her birth 200 years ago. The original queen of hygiene Florence Nightingale she revolutionized Battlefield Medicine during the crimean war when more british soldiers were dying of infections than battle wounds and principles remain is just going to die. As they did you im sure you see i reach it is you need to wash your hands and you need to make sure that the environment is incredibly clean. And. The space between patients and the need for ventilation the coronavirus pandemic has overwhelmed hospitals around the
Chinas economy contracts for the First Time Since at least 1992 after the coronavirus lockdown but industrial output numbers offer signs of encouragement. Stocks push higher as President Trump outlines steps to reopen the economy despite data showing 5 million more americans filed for unemployment. Plus hedge funds suffer a volatile march. And the worst ever losses posted. We will see this morning what u. K. Asset manager things. Breaking headlines on european car sales plunging 52 in march. European car sales more than getting cut in half in march yearoveryear. The biggest drop on record. We will be sure to talk a lot about cars today. Hsbc upgraded bmw shares to a buy. Anna a lot to talk about in terms of the car story an interesting to see the plans are around reopening car production. Let us talk about man group. The World Largest publicly traded hedge fund. Net inflows for the First Quarter, 5 million. Standing at 104 billion u. S. Dollars. These numbers are coming through. They a
Today. And south korea, the Ruling Party Wins the election. Oil sits near an 80 year low amid a record collapsing u. S. Fuel demand. The trump is said to consider paying them to leave oil in the ground. We start this morning with a little bit of shaky ground. A reality check. For me, its about the bond market. You saw that drop in yields yesterday by 13 basis points. Its crazy to hold bonds. I turned to blackrock. I like what rick writer is saying. Basically, we will follow the fed. By bonds, etfs. What caught my eye, blackrock is getting ready to sell Interest Rates long. Nejra very interesting. A lot of people have been saying that in terms of buying what the fed is buying. If we get another initial jobless claims print above 5. 5 million which is the consensus, that would take the gains over four weeks in those initial jobless claims about 20 to you 22 million. One of the eight of the workforce out of work, wiping out the job gains since the last recession. Staggering numbers you ar