And bank ofs, citi, america all reporting today after j. P. Morgan and wells fargo yesterday. The pboc cuts mediumterm borrowing costs again amid expectations of further easing, after the imf warns this years downturn could match that of the Great Depression. We are just under an hour away from the start of cash equity trading across europe. Lets take a look at how futures are trading. We had gains in the cash trade yesterday in europe, with the exception of the ftse, and big gains in the u. S. To close the session last night. Mixed trade in asia as the earnings season began to kind of way on some investors sentiment. As a result, we see european futures down this morning. Nasdaq, u. S. Futures down as well, about two thirds of 1 . Lets get you the bloomberg first word news from the terminal. President trump says he is suspending u. S. Funding for the World Health Organization while his administration reviews its response to the coronavirus. He says the who was slow to share informatio
Exchange on cnbc. Im wilfred frost. Im Contessa Brewer in for sara eisen lets get to the Market Action yesterday a pretty big selloff we did come off the lows by the end of the day still down just over a percent for the dow. A little less than that for the s p and the nasdaq financials took a big hit that sector within the s p down 3 insurers down more than 3 of course theres another hurricane and storm approaching landfall or makes landfall last night, that was onefactor. We saw the banks selloff almost as much. Yields moving lower. Either way, we are bouncing back a bit today. The dow called higher by 30 points nasdaq by 16 s p bir 4 poiy 4 points the tenyear treasury which saw a significant move lower in yields ended friday 2. 16 yesterday the low was 2. 06 now 2. 075. A large part of that, all of that risk off move yesterday was down to north korean tensions. And the same thing is weighing on asian stocks this morning. Looking at the equities overseas, the nikkei is off by 0. 15 .
Title as the Worlds Largest retailer. The company is forecasting huge growth in its online sales. And it predicts it will happen in just a few years time. At its annual investor day, the big box retailer outlined plans to invest a lot of money in its retail operations, which pitted the company against amazon in the race for shopper dollars. That sent shares up 4. 5 in heavy volume to a twoyear high. Courtney reagan takes a look at walmarts big plans for the future. Reporter walmart is making a prediction you rarely hear in retail, 40 online sales growth in the u. S. Next year. Executives spoke to analysts in arkansas, explaining progress has been made to fix the fundamentals. There is still some runway to go. The crux of the walmarts plan uses its stores and Online Business together. The retailer says consumers that shop both in its stores and on its website spend twice as much as those who buy only instore. We have to ensure were doing everything we can to earn our customers business.
Peter out, crash, i dont know, it has to run out eventually. On the other hand, no one could seem to agree on what might cause the rally to end. And despite todays down action, dow slipping 54 points, s p backsliding 0. 53, nasdaq declining 0. 56, i dont think its over. Its just morphing into other areas not yet picked over, which is what happens when much of the s p 500 is higher and the russell 2,000 index and small capitalization stocks goes up for an astounding two weeks in a row. I cant tell you how rare that is. Hallelujah. Sure, you heard people say maybe trumps appointments will bring things down, or maybe his trade policy could cause a backlash that could hurt our exporters. Or the media wont let up on him and the recount story might make waves, or the dollar has been too strong since the election. Or even that his reaction to the death of fidel castro with a couple of hard line tweets is to flaky to gain. But honestly, i heard nothing that stuck. Nothing is going to repeal th
Nasdaq declining 0. 56 i dont think its over. Its just morphing into other areas not yet picked over, which is what happens when much of the s p 500 is higher and the russell 2000 index of small capitalization stocks goes up for an astounding two weeks in a row. I cant tell you how rare that is. Sure, you heard people say maybe trumps appointments will bring things down, or maybe his trade policy could cause a backlash or the media wont let up on him and the recount story might make waves, or the dollar has been too strong since the election, and trumps meddling in the affairs of the United Technologies indiana carrier air conditioning plant is just the begging of how hell interfere with business. Or even that his reaction to the death of fidel castro with a couple of hardline tweets is just to flaky to gain. But honestly, i heard nothing that stuck. Nothing is going to repeal this changes in tax policy or the potential defeats he might suffer in congress or the problems with the debt