Drug failed in trials. Good afternoon afternoon and good evening, good morning. This is viviana , this is bloomberg surveillance. First thing is first, this is what your markets are doing. A lot of the focuses on earnings. A lot of the focus yesterday was the fact that we saw this blunder through w. H. O. Leaking. We understand gilead and the impact we saw on the markets because the trial was not as successful as a lot of people were hoping it would be. Overall, your markets are also focusing on oil. Touch today, west texas actually extending the recovery, treasuries climbing with the dollar, and a lot of the focuses what is going on with italy, the Italian Government bond fell after the europeans felt signed off on this plan, immediate follow from the pandemic, and we also look at Corporate News and some of the earnings. Ifo german Business Confidence falling, but it was expected. Of the 79. 7 figure. Again, that is the lowest ever, and in about 30 minutes, we will speak to the head o
In mystery name . We get a minneapolis appearance from pete. Look forward to that but beginning with this. Breaking news in retail, the gap scrapping plans to spin off old navy shares jumping on the news. Lets get to Courtney Reagan with the details. Gap, inc, reversing the decision to spin out old navy into a publicly traded company, increasing guidance for the full year and giving leadership updates and a surprise announcement in the last hours shares popping on the news, they were behind be pulled become a bit. But they nounsed the gap pick art feng was out the separation was first announced at the end of february 2019 interim ceo Robert Fisher said while the object he was of the separation remain relevant our board of directors concluded the cost and complexity of splitting into two quips combined with softer Business Performance limited our ability to create appropriate value from the separation gap, inc, now expecting fiscal full year sales and comps to come in at the higher end
Parliament holds its final vote on Prime Minister mays legislative program. This is bloomberg surveillance. S happenay. Theyre rising for the first day in three. Investors shrugging off the prospect earlier of the prospect of higher Interest Rates. Stocks have inched lower in the last few minutes. The euro continuing its upward movement against the dollar. Draghi bolstering bets that the ecb is preparing to unwind. Sterling gaining for a sevenday. Best run since april 2015. Mark carney says the Monetary Policy committee may need to begin removing stimulus. Crude oil gaining for a sixday. U. S. Crude production easing pressure on opec led efforts to drain this global glut of oil. Lets get to the first word news. Banks haven announced larger than expected payouts for investors. Jpmorgan, citigroup and bank of america led the way and unveiling plans to boost stimulus and stock buybacks. It is the first time every lender has cleared the regulatory hurdle. Shares across the industry the tru
Report. Which first sent the market down, and then upon further review, made it roar back to life. Dow ultimately gaining 108 points, s p advancing 0. 6 . Nasdaq 0. 92 . Wow so how do you play something as dry and convoluted as the labor departments release . Simple, you look at outsized gains in certain segments of the report and you extrapolate. Which ones showed truly outstanding growth . First there was construction. The economy added 30,000 construction jobs in march, with the heaviest concentration in residential specialty trade. Second, retail, which added 48,000 jobs. The biggest gains besides general merchandise, 10,000 new jobs in building and materials and Garden Supply stores. Bingo hallelujah you have your payoff. By home depot. It dovetails perfectly with the release. Now, we know home depot said it was hiring more than 80,000 people for the spring selling season. Thats the big holiday. So, profit point number one is hd, which is not, coincidentally, breaking out here. Se
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