Virus could soon peak in new york city. Weve already seen the apex in madrid italy is clearly over the hump that means buy storks. Cover your shorts. The bull is backs todays run d 1627 points marking its best day in two weeks s p soaring 7. 03 . Nasdaq 7. 3 . Can it really be this easy or does this represent too much optimism i think its a bit of the latter wall street is a group of index buyers and traders when we care about the new number of coronavirus cases, number of hospitalizations and mortality rate index buying was so intense it moved stocks like they were play things now, does that mean we should buy the nasdaq when we have more ventilators, sell it if we dont have enough personal protective equipment . Do we buy the s p retail etf when we get a decent number from, i dont know, Governor Cuomo . No, its kind of ridiculous. Were simply seeing, though, the flip side of what happens when people were downbeat as they were last week when the president s team told us some pretty ho
Retail earnings over the next couple of days. Thirdquarter earnings better than estimated at 1. 13. They see their fullyear adjusted earnings raised from what they saw before on the 5. 91. D, looking at. It looks like on first blush, a beat and a raise for the rest. Global exchange for the rest of the year. Time now for global exchange, where we bring you the news from all around the world. Our bloomberg voices are underground with the latest. China and the u. S. Agreed to stay in touch on remaining issues to get to a phase i trade deal after a phone call earlier, in which topic a shooters top negotiators from both sides discussed core concerns. They agreed to maintain communication on the remaining issues for the first phase of negotiations. Enda curran joins me from hong kong. It is a long, convoluted way of saying they are still just talking . Is all about the mood music. It is another day of incremental news that seems to bes adjusting that governments are on track for some kind of
Euro instantly snuff approaching the 110 level and keep an eye on the german 10year and the president s speech could have a Significant Impact and it really is very hard to read event. And certainly the bull market here in europe, sitting tight and waiting to see what comes out of it. Vonnie . Vonnie as we wait for the economic speech and powell speaking thursday, were joined by kumar, the Global Strategies president to tell us what we might expect. What could cause the markets to move today . You need President Trump to Say Something totally unexpected, vonnie. The usual things, the economy is doing very well, we expect growth to continue to be very rapid. Thats what hes going to say. And that hes making very Good Progress in terms of dealing. Th the chinese it he has to say hes going to sign an agreement on a certain day and hear some of the things he agreed to and on the other hand explain why it is the economy is going to do very well in the year 2020. I dont expect it. You ask for
Commuters, but the earnings may be tough this morning. Futures as you can see are mixed as have the averages been over the past several days. The tenyear note a touch higher than it was at this time yesterday. And as for europe some mild weakness in the uk and in spain. Our roadmap this morning goes, well start with coach. Shares of the luxury goods maker down big in the premarket after samestore sales in north america plunges 13 year on year. And ibm is not looking too good. Down on earnings. The tech giant reporting revenue below estimates for the Fourth Quarter in a row and due to weakening demand in part in emerging markets. A lot of people facing a nasty commute after a massive winter storm dumped over a foot of snow across the northeast. Left temperatures hovering near zero. Well go live on the ground to see just how bad things are in a moment. But first up, coach reporting weakerthanexpected fiscal Third Quarter results and comps down 13. 6, and it said its been hurt by substant
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