Up 0. 8 nonetheless. A lot of companies suspending guidance, but a few green shoots as well. For example, cap talking about upsizing for example, gap talking about upsizing its bond offering today. That is really rallying today. 11. 8 monthere down over. Month for retailers in general yen strengthening today month over month for retailers in general. The yen strengthening today. Waiting for the ecb later this week, as well as the fed, for some forward guidance. At 13. 15. Ng the vix at 32. Companies withdrawing guidance at a rapid clip this quarter. Our next guest says we need an event that could offset the black swan pandemic. Lets welcome Jason Trennert, strategic us Jason Trennert, Strategas Research partners chief investment strategist. Say, as aave to market for does but, i am not counting on it. Ash a market participant, i am not counting on it. It is certainly not my lane, but i think all the experts i have listened to would tend to think that the white swan event in terms of a
Steps. Morgan stanley and wells fargo join european lenders in pledging to preserve jobs during the crisis. Deutsche bank says it will pause future cuts amid its restructuring. Welcome to bloomberg daybreak europe. U. S. Futures on the back foot today after the best threeday gain in mere nine decades for the s p 500. The dow is technically in a bull market but it is 25 below the february 12 record. In terms of asia, a mixed picture. Following that emergency 75 basis point cut by the bank of india. A big drop in industrial profits in china. That is the news overnight out of asia. The 10year treasury yeild slipped five basis points. Risk off coming back into these markets after the powerful risk rally. We ask the question whether it is a bear market after the devastating rest jobless claims numbers, so weakness in the dollar. The dollar is hedging for its biggest retreat since 2009. Gold has its biggest weekly advance since 2008 after the effects of the funding squeeze and oil heading fo
Consumer stocks like kimberlyclark and chi pochi pot lay showing signs of strength. Well take a deep dive on the debate over how and when to reopen the economy well speak to the mayor of las vegas, who has called the a stayathome order in nevada total insanity and floridas Lieutenant Governor and well speak with cme ceo terry duffy about the wild swings in the oil market those negative prices. And billionaire harold hamms call for an investigation of crude futures trading. Lets drill down on the big stories we are watching. 59 minutes left of trade mike santoli tracking the market rebound. Phil lebeau has fresh comments from deltas ceo on the back of earnings and meg tirrell with the latest on the race for a vaccine. Mike, start us off with the market and the rebound were seeing today yeah, sara. Down about 5 in the s p 500 from fridays close through two days of trading, getting back in a very gentle way i will say today, kind of lowvolume trading. About half of that, not quite half if
The crown a virus has infected more than 2400000 people globally its taken more than 160000 lives while some countries are seeing a flattening curve others are still seeing a surge in new cases coppa 19 has infected more than 766000 americans while deaths in the u. S. Have top 40000 new york state which is finally seeing a drop in new cases announced that its going to begin aggressive statewide Antibody Testing this week protests continue across the u. S. Over shelter in place orders amid pressure on governors to reopen local economies at sundays briefing president said hell use the defense production act to increase manufacturing of testing swabs while working with governors to reopen their economies are with the governors doing a better job than others the robust capacity that weve brought online will empower governors to deploy sophisticated strategies so they can safely reopen their states. Some people believe in. Play and other people believe in it less strongly but still its a ve
About the impact later on in the show. Time now for bloomberg time now to dig a look at all the news you need to know, from d. C. To new york. We are joined by bloombergs michael mckee, taking a look at all of the Market Action and economic action out of europe. It was a tough day for services pmis. Michael absolutely, and the charts tell the stories. These were the worst numbers ever for france, germany, and the eurozone, showing the Service Industries worsen manufacturing, and in part due to a quirk in the data. The market, we get pmis at 9 45 this morning. The same sort of data are expected. We also get the Bloomberg Consumer comfort index, the most highfrequency Consumer Confidence data. That has been moved up two days. The crashing of the european economies has revived talk, or pushed, shall we say, talk of stimulus higher up the agenda. German chancellor Angela Merkel has already decided that she is going to establish a Stimulus Program to help revive the economy, and she has put