Chip botox straight ahead and we start with the rorschach test. Which did you see today . The dow closing at its highest level since march 10th and vaccine hopes with stills and stocks closing near session lows and the relationship 500 failing to hold its 200day moving average or guy adami, how do you interpret the ink blot being that i cant see it, is that the guy from welcome back cotter, mel or no, that rorschach test guy i think were having problems with guys audio tim seymour, well go to you on this which ink blot did you see today . I actually heard guy and he made a bad joke of welcome back to cotter. It was closing near march highs and i think we have a case where the reopening has allowed people to look at industrial and call them value stocks, but the ones that were the most beaten up and to begin to assess what schedules are going to look like for airlines out through kind of early to midsummer. We have no idea, but we also have some sense that the worst case has been largel
On downing street, pressure grows on Boris Johnson. Bailout bogged down by wrangling over key details. Swift approval from brussels once the plan is finalized. A warm welcome to daybreak europe. You are going to hear people drone on about liquidity. It does not change the risk sentiment. Equities are leaning into the reopening narrative versus the sino china political discourse. You are seeing lockdown perhaps being lifted in victoria state. Tokyo expected to lift their state of emergency. Equities are leaning into that new narrative of reopening. The yuan drops. Beijing tightens its grip. China sets the yuan at the lowest fixing since 2008. It is all about managing disorderly moves. City joins jp morgan in cautioning asian effects. Citigroup, we do not like asia affects asia fx. Dollars bid, oil is up. Since 2009drill rate gives you crude gushing up by over 1 . Dollaryen, as i said. The market is the longest of yen since october. Let us focus on the china story. What is going on . Chi
Top aide who broke the lockdown rules. Lcome to surveillance i am nejra cehic in london. We get a sense of the u. S. China protests in hong kong. Equities, of course the u. K. Is closed for a bank holiday today. U. S. Cash stock and bond market closed as well. A positive sentiment coming through in u. S. Futures. Third day of dollar strength. That speaks a little more to a slight risk off tone. In terms of oil, it is being anchored around 33 dollars a barrel but in the green today. Confidencebusiness index is 79. 5. The estimate was 78. 5, so that coming in a little better than expected. In just a minute, we will speak with the Ifo Institute president clemens fuest. First, lets get to bloomberg first word news. Thank you, nejra. Were hit with tear gas in the city. New National Security legislation, being described as the vegas for hong kong since china took control in 1997. Here in the u. K. , Prime Minister Boris Johnsons most senior aides are facing growing calls, breaking lockdown r
Its down 207 but the russell 2000 has the biggest percentage loss. The small and midcaps are getting creamed, down about 3 right now for the russell. Powell tying an economic recovery to a Covid Vaccine and therapies that can cure horrific symptoms including a disturbing new lifethreatening clotting disorder like the blood clots that cost a broadway star his leg. Enter the biopharma ceo mike sherman, here in a fox business exclusive on his new anticlotting covid drug thats on the fda fast track. Boy, are they moving fast. Plus as the covid outbreak destroys huge retail names, its actually bringing back one from a near coma, at least the stock. Speaking of stock, its overstock. Com, not just alive but actually thriving with triple digit sales increases. Overstock ceo Jonathan Johnson here in a fox business exclusive on the steps hes taken to fill a leadership vacuum left by the controversial former ceo, patrick byrne, and the problems of coronavirus. Plus bring on the quarantinis. Alcoh
All of faang higher with names like paypal up 5 today. We have two bad final hours of trade over the last two sessions and we have sold off over the last couple of hours off the session highs as we stand. Ahead on todays show, well speak exclusively with Thomas Barkin on the heels of another massive jobless number why he says we may be at the bottom of the downturn he just said that on a podcast about an hour ago. Plus, former treasury secretary, jack lew, will join us to discuss the governments tuss efforts and whether cash is going to the right places and the countdown to another big afternoon of earnings. Uber, roku, dropbox and trip adviserme adviser. Well bring you all the numbers you need the know as soon as they hit were off the session highs. Dow high was 430 points. Up 206 just shy of a percent s p 500 and nasdaq still up more than lets focus on the big stories mike is tracking the market rally. Meg has the latest on moderna jumping on news surrounding its vaccine candidate, b