Today in some of the comments out of retailers like burlington, anf, dollar tree, and Dollar General yes, if you look at the Dollar General, the numbers are just extraordinary i actually have never seen a Comp Store Sales number this good 21 versus 7 estimate. Dollar tree is going to be the one, david knows this well, people look like, you know what, now the dollar tree Family Dollar merger which had been so on the rocks, the judgment is its working and that stock could power much higher. Dollar tree. The opening trade is sapping the money out of tech. I dont know how much longer it can last thats such a great book in gary because he knows so much about what people are spending theyre essential because they have food, and i look at this market and i think how long with the dow up 4 can we actually say, hey, the reopening trade is just starting . Its already maybe too far too fast its very hard to figure, particularly because faang is being distorted by the president s tweets, facebook
Euro bailout investors price in the prospect of negative interest rat rates after opening the door to the policy of course we are keeping it to where the access would be a very warm welcome to street signs. Weve got some fresh data coming through. This is flash pmis as a whoeld. The flash manufacturing pmi for may has come in at 39. 5 up from 33. 4 in april in terms of the composite number for the eurozone, that has come in at 30. 5 up from 30. 6 in april the services pmi which has been the hardest hit sector as a result of the lockdowns. That has come in at 28. 7 up from 12 in april, we already had france and germany come through and we have the overall eurozone number. One other thing, one of the key kpoen nants here, the new business pmi has come in at 28. 4 in april an uptick there. Contraction did ease in may but still very sharp we have the euro trading slightly weaker versus the dollar this morning. Lets bring in our first guest Chris Williamson geoff and steve also with us chri
In libyas capital after the warlord warned turkey about its role in the conflict. And the high price on the president did this attract bounty hunters not failed coup attempt against venezuelas Nicolas Maduro. Russia is rapidly becoming the new hot spots of the worlds Coronavirus Crisis it now has the 5th most infections of any country and the mayor of its capital of moscows warning the figure was a far worse in that city alone shot at bullets reports. Russian police and Fire Fighters patrolling the streets with instructions observe the quarantine take care of yourself and stay home as countries around the world start to open up much of russia is closing down. Case numbers have escalated to put it in the top 5 of the world with more than 177000 cases but most goes mia fears and maybe even worse there is the year for according to straining studies the entire number of infections in moscow ranges from 252300000 thats 3 times the official figure theyre pretty modest budget at the table and
Dollaryen pushing a bit higher. You are also looking at the 10 year going no real place, and oil trying to stabilize as earnings continue to rollout. Honeywell the latest, suspending their fullyear guidance. Time for todays market moving news from new york and washington. Lets start with earnings. We are about halfway through the seasons. Oil giant chevron out this morning, cutting capex for the second time at about five weeks, warning profits will suffer. Bloombergs Annmarie Hordern has more. Annmarie thats right, that capex headline is really the one to take away from chevron. Clearly, they are doing what they can to save cash. The original plan before they cut earlier was for 20 billion. 14 billion is roughly where chevron has been spending over the past three years or so. Dividends has been a big topic for the oil company. Sayingre now they are they are doing everything they can to protect it. In just going to be out under 30 minutes. They said they are going to freeze it. One thin
Keeping an eye on the treasury market, the 10year right about 0. 638 for that yield. Right now time for the squawk planner. The American Economy has lost about 8. 8 million jobs in the last three weeks economists are expecting the loss of an additional 5 million. Well get Housing Starts data with a decline of 15 for the month of march we have a big lineup of guests starting at 6 30 eastern with black rocks larry fink. We also have ken fine berg, dr. Emanuel, barry diller and House Majority leader mccarthy coming up and cases to top 2 million u. S. Cases top 640,000 new york cases over 21,000 new york governor now squarequi people to wear a Face Covering when out in public that takes Effect Tomorrow becky. Joe, everybody in engel wood cliffs right now is wearing a mask everyone who is not on air it is something they are take very, very seriously too im thinking about exactly what it means when we are all trying to get back and when we are in the nasdaq. I think in the entire place, it i