Time for todays market moving news from our washington and new york bureaus. President trump is pushing to reopen the economy, even if it leads to more deaths. Speaking in arizona in his first trip outside washington more than a month, the president is preparing for phase two of the u. S. Response to the coronavirus. Pres. Trump the people arent going to accept it. They wont accept it, and we shouldnt accept it. We have a great country. We cant keep it closed. Ive had doctors say, why dont we close it for a couple of years . This is the United States of america. Will some people be affected badly . Yes, but we have to get our country open, and we have to get it open soon. Alix Kevin Cirilli joins us with more. Good morning, kevin. Kevin good morning. The president returns from that trip to arizona, really signaling that he is going to be taking his message of reopening the economy back on the campaign trail in arizona, where polls have him trailing joe biden anywhere from 4 to 6 . Clea
The 10 year yield was up 72 basis points after that refunding announcement and the new twentyyear issuance will be bigger than the primary dealers were thinking. The median estimate was for around 13 billion but thats now 20 billion worth of twentyyear bonds being issued. Demand for them and now we are back to the stock market and we are seeing the s p 1 sondred up 4 10 of its recovered those earlier gains. The nasdaq is running away once again, up 1. 2 with several thats are credited for including the lights of beyond meat and stocks you would not normally associate with a climb. The dollar index is above 100, continuing to strengthen but not a huge amount of movement in the yuan. Crude oil is back at the lows of the session, down 2. 4 after we saw the build coming in lighter than the market had anticipated. Quite a hefty build last week but the markets recovered slightly and we are back down almost 4. 5 . The European Data continues to be grim. The European Commission says they could
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
Earnings season even as Goldman Sachs warns of a 35 g. D. P. Slump. And jpmorgan is the first u. S. Bank to report. Wells fargo comes next. Dont miss our interview with the c. F. O. Later on today. Those earnings come out before the u. S. Bell this morning. And global coronavirus cases approach the 2 million mark with 119,000 people dead. France extends its lockdown. The u. K. Is expected to follow suit this week. Were just under an hour away from the start of cash equity trading in europe. Lets take a look at futures this morning. We had the u. S. Trade down yesterday. India is doing quite well or did quite well overnight. European futures up more than 1 across the board. Ftse and euro stocks, dak futures this morning. Dax futures this morning. Here h your top stories this morning. President trump says he has total authority to order states to relax social distancing and reopening their economies. A number of u. S. State governors say they will form regional alliances to coordinate th
Fourth positive session, up 2. 7 . Just the banks really are lower in the s p, a few oil companies. Crude oil trading down 6. 8 , back hello 21 a barrel. Back in itsyield range. The vix at 38 and change. Lets get a deeper dive into the markets with abigail doolittle. Abigail you were mentioning the gains in the s p 500, and certainly that is the case, a risk on tone from a stock perspective. Each of the averages is up 2. 5 . The nasdaq 100, make a cap companies, amazon putting in an alltime high, up almost 4 . Interesting, we have bonds higher, even as stocks are rallying, so that is something to keep in mind. Bank earnings were pretty disappointing with profits plunging and loan provisions on the rise. You were talking about how it is cooler today from yesterdays volatility. This is a year today chart at 90,highs, almost closer to when the s p 500 was closer to 2200. At this point, back below 40. It is worth noting, just a few months ago, if you talked about the vix at 40, traders and