Planning to sell bonds and admitting gdp targets this year stemming from uncertainties due to the Global Pandemic. Ourinda lets get to markets, anger markets coanchor Tom Mackenzie in the forbidden city. China dropped its gdp target for the First Time Since 1994. That is significant. Tom it is. Our bloomberg sources expected they would do this, but the economists werent entirely sure. They have dropped the gdp target completely, facing up to the economic reality. This was the result of the coronavirus. You saw First Quarter gdp in china drop. Surveys suggest you will get 1. 8 growth for 2020. They are giving themselves space to react to this virus and put a floor under Growth Without tying themselves in knots over an artificially high gdp. High gdp target. Stimulus was a focus for investors. You got that line about the special government bonds quoted at being raised to 3. 7 5 trillion yuan. Alsoeficit target as well when you think about stimulus, you want to think about the deficit tar
Yesterdays stomach churning day during which the dow saw its fourth biggest point drop in history. 1,861 points. Equity losses of 2 trillion dollars just shaved right off. One of the triggers from yesterday is the same one thats pulling the oxygen out of todays rally. Worries about a longer recovery and a second wave of the coronavirus pandemic rearing its ugly head. One of the most widely followed economists on the street, in this final hour, what he sees as the biggest obstacle to a more persistent and longer stretched market and economic rebound. Plus, College Football taking baby steps the put the pandemic behind it as players get the green light to begin workouts this coming monday. So could we really see oregon and cal and ucla and yes usc football in the fall . The commissioner of the pac 12 is here in a fox business exclusive. Yes, i will ask, will there be fans . Plus poking fun at the brand new playstation 5 . Portfolio margin protectors and charlie breaks it on the players l
Two million for the nante straight week. And the fed could hold further guidance until the fall. B. O. J. Upped the board for Small Businesses. The question you may be asking yourself in the market today is where the focus will shift in todays session from reopening to escalation. Hong kong very much the focus over the abandonment of the growth target for this year which was widely anticipate. The central bank that we learned overnight is india unexpectedly cutting rates with g. D. P. Set to shrink. We had that note from goldman talking about the worst recession ever in the Second Quarter for india. Weve got a 40basispoint rate cut to 4 from india today. Little bit of weakness in the rupee. In terms of the broader market, youre seeing the hang seng lead those losses in asia there is red on the screen across asian markets. Also u. S. And european futures pointing to a lower open. A clear risk coming through today. The 10year treasury yield drops by three basis points toward the 64 and o
Lets take the press. Easy. But. Ok folks lets begin with this ok as an r. Kiss took to the streets of seattle took over 6 city blocks reportedly with armed guards and threatening business is the president of the United States weighed in he called them domestic terrorists but the gals of the view actually defended what they called the protestors and then the most intellectually challenged woman on t. V. In my opinion goes after the president watch as a matter of fact he has the nerve to call anybody in to mess to terrorists hes a domestic terrorist hes the one whos been impeached for obstructing just. Yes in this country hes the one who has friends who are in jail you know he had just dollars in jail Michael Flynn is in jail and then this happened di i need to clear up one thing you were not calling the president a domestic terrorist youre just saying that his his take on this is is a little crazier than you thought is that right. Yeah i guess signing and im not coopted by the names lik
Market we have a great lineup of guests coming your way well speak exclusively with Morgan Stanley ceo james gorman. His take on the markets come back the read on the economy and the strength of the banks. Plus, you will hear from the ceos of macys, Signet Jewelers and brown foreman. Theyre joining us to discuss their path forward for their respective irz stroo respective industries. But lets begin with the Broader Market the rally, take the pause today following the rapid surge that pushed the s p 500 back into territory for the year if we close higher well get another record close for the tech hefin dechl. What you are watching . It does look that way, sarah. A recoil from the recent trends. The headline index is pulling back outside of the index. The majority of volume is to the down side. This is one day where the indices are understating the weakness they want to take a look at the one year really all the pullback meant is a little dip below 3200. It held there and bounced modestl