Markets following some strong Economic News were seeing a lot of green arrows across the board but lets start in russia where the mo x is up for the week the ruble had struggled in recent weeks as oil prices fluctuated but following the constitutional reform this week the countrys currency strengthened against the dollar its looking ahead now russias alfa bank warned that the u. S. Could play sanctions on russia if the report regarding bounties on u. S. Soldiers is confirmed now lets move over to asian markets where the shanghai composite is up on the week its hitting new 52. 00 week highs the composite gained 2 percent on friday alone after positive data showed increased prospects of economic recovery after the pandemic in hong kong the hang seng also up this week with 3 percent gains on thursday this is after promising news regarding a possible vaccine friday saw gains due to positive Economic Data and even a better than expected jobs report out of the us now some of the biggest winn
Is scheduled for next week. Good morning, everyone. This is bloomberg surveillance. Good afternoon, good evening depending on where you are watching the world. Gdp is a good sign of things to come. It is a little bit backward looking, which is why we tend to look at other indicators. Certainly when you look at eurodollar, it is probably moving on the back of it. German economy shrinking some 2. 2 in the First Quarter. Now to your bigger asset classes. European stocks are actually jumping. U. S. Equity futures pretty much unchanged. The one thing that we need to watch out for is basically the second wave of infections, but also the simmering tension between america and china. Oil climbed, treasuries edging higher lets get to the bloomberg first word news in new there is in the u. S. , no guidance from the centers for Disease Control and prevention on how to reopen bars, restaurants, and workplaces. It includes social distancing, limiting group sizes, and encouraging drivethrough and del
Demand. Ng server taking a look at the csx 300, up three tens of 1 . China unicom out with numbers. It shrank in the First Quarter. Page, take ap the look at where oil is. From the uglylly selloff to below zero. Futures in new york rising. Climbing after falling to a 21 year yield. The old story is about Global Demand shock. About two unveil a supplement fiscal package after the economy suffered its worst contraction since the financial crisis in the First Quarter. Fiscal stimulus our next guest says for skill stimulus plans are ineffective. Turning us now is jim walker. Joining us now is jim walker. Good morning. You say it is about businesses. Jim exactly. Type ofa very different crisis from the ones we have seen under the past where recessions and even the asian crisis you could take as being a downturn in demand. This is really a government mandated cessation of business. While governments are forcing businesses to lucked out and people to stay at home, basically, it is incumbent o
Dow. Stocks are having a nice bounce on some renewed optimistic about reopening the economy in various states of the nasdaq closing in on going flat for the year oil is up on signs of gas repairing. A general believe in a Third Quarter rebound has some exists warning too much optimism too early. For that we will turn to steve lease man. Carl, good morning. The rapid update does indeed show this historic, unprecedented Second Quarter decline. A Third Quarter rebound. And i want to talk about that. The Third Quarter rebound is even more ingrained. Stocks trade on this idea after we get through the Second Quarter, you will have a Third Quarter rebound. Down 34 after minus 6 . Up 16 in the third. Up 12 in the fourth 7 in the first quarter. Not enough to make up for the year where the average of our 11 economists is 5 decline but take a look now at a bunch of outliars. They are contrarians on the street on this Third Quarter rebound. The q3 rebound bears bank of america, minus 1 . Rsm up ju
2 2. Its 8 years since that Ethiopian Airlines jet crashed killing all on board family members gathered for a Memorial Service at the site of the crash a tragedy compounded by war take some relatives described as being way too little compensation. Digital lenders take on the Traditional Banks to cash in on south africas growing popularity online payments. And take me to electronic heaven one does said stop a nationwide recycling system for waste. If you bring their computers facts of life. I made for us all and lets do Business Today marks the 1st anniversary of the crash of Ethiopian Airlines flight 302 a year ago 157 passengers on a boeing 737 max plane bound for nairobi had lost their lives after a Flight Control system proof fatally flawed monday the o. P. s Aircraft Accident Investigation bureau released a report saying that not the airlines or the pilots but the boeing planes software caused the crash leading to a grounding of the boeing 737 max that is still in effect. Still in