Lets take a look at other Asset Classes as well. The big news as we talked about, ftse russell adding chinese bonds to the global bond indices so we are watching chinese assets very closely and we are looking at, when it comes to evergrande, that is a stock that has been seeing a quick turnaround after the stock fell 5 . A looming cash crunch. Bond yields slightly higher here aday, and we are looking for dollar that is looking slightly weaker but steady. We are set to end the week stronger by the most since april for the greenback. The aussie seen quite a slide for the currency this week. We are seeing a bit of a lift in the renminbi on the ftse russell decision and the lira here. Turkey surprising with the rate hike yesterday, but the dollar weakening, a big story here today. First word news. Karina mitchell in new york. Karina good friday morning to you. The Trump Administration has been ordered to delay its ban on tiktok. The judge gave the administration until 2 32 agree. O a delay
Sadly deaths are the lagging indicator youve been in the hospital for x number of days in extreme cases you could be put on oxygen or ventilator. Thats it. Hospitalizations are starting to decline as they appear to be at a steady rend in new york. That could be welcome news indeed. Statewide hospitalizations have been averaging 1996 in april in the latest period versus better than 2250. The trend just the day before. Meanwhile the governor is outlining he said well need an army of tracing investigators to identify people who may have been exposed to the covid19 virus. You keep hearing this, tracers, indicators, who come into contact with those who tested postively for the virus. That is why the testing issue is so big. Were told jeff bezos of amazon, who is on the ad hoc Advisory Board, sort of giving advice to the president how to proceed, if an when to reopen our government, our society, our economy so to speak. He has been saying not until we have many, many more tests going on. Did
Up financial loans looking to extend the lockdown to may. Germany announces plans to let small shops reopen next week translator what we have achieved is an interim success no more. No less. I emphasize that it is a frag ill interim success this is an emergency like no other. She warns we could get further economic weakness if this virus takes a double trip around the world. The fund saying asian growth will grind to a stand still this year a look at the european stock market we are now into the trading session. Weve warmed up. The market is in much of the green. What we saw was a reversal of fortunes to the tune of 3. 25 fairly decent selling for the german stock market. These markets also bouncing. Investors still weighing on very negative data. Youve got a glow from the United States to markets well weather retail pressure. The ftse in italy holding on to the strongest gains 2. 3 higher and down about 4. 8 pes recovering about half of that territory. The French Market 1. 1 weve been
Package amid disagreement on how to spend nearly 2 trillion. President trump says coronavirus measures shouldnt be worse than the problem itself. Europe tightens its grip. Leaders scramble to enforce unprecedented restrictions as 2000 more people die in italy and spain over the weekend. Angela merkel says she is self isolating after contact with a doctor who tested positive for the coronavirus. An hour awaynder from the start of cash trading across europe and it looks like it will be another risk off day as futures fall. Euro stoxx 50 futures as well as ftse and dax futures, down 4 . Futuresftse mib gaining, but i believe that is actually fridays trade, so that is not current live futures contracts. All life futures contracts are down, deep, deep in the red. If you look at u. S. Futures, we also see drops of about 3 across the major equity indexes, so s p, dow jones, and nasdaq futures all down. Its get into the markets with laura cooper, bloombergs mliv macro strategist. Laura, we hav
We will talk to analyst Michael Levine as he boosts his price target. Mobility tech is all the rage and uber takes one more step to becoming a onestop shop for all of your transportation needs. Details on the uber bus. First to our top story, u. S. Stocks advance. Heavyweight Technology Companies led a rebound. 100 led by Companies Like salesforce in alphabet, fresh record highs. That means that the smallcap Technology Companies are looking relatively cheap on a valuation basis. Joining us, bloomberg across asset reporter sarah ponczek. Take a look at a chart i am showing on a forward basis, looking like some of these smallcap Tech Companies look cheap relative to some of those big things we cannot stop talking about. Sarah you are looking at the forward price to earnings ratio of the s p 500 versus the s p 600 for both technology sectors. The s p 600, as you can see, trading at a discount, at the lowest level since 2001. I will say that we posed this chart to Jonathan Golub of Credit