The nasdaq up about four points. Yields firmed up a little. You can see the 10year, as equities came up, the 10year about 0. 624 all of this as Energy Prices got stronger the june contract up about 13 now trading at 15. 68. Hard to believe that is a strong level. 15 a barrel is pretty strong for oil when they were paying people to take it from them earlier this week. Time for the squawk planner is it . It is yours, joe. Getting to closely watched jobless numbers. More than 4. 3 million americans are expected to have filed for jobless claims that number rose on the earnings front, well hear from eli lily, blackstone, dominos. Well see if dominos has the same type of positive numbers like chipolte. Nobody eats at dominos intel is reporting after todays close. Now, andrew. Now. You were eager this better be good. You know, im just doing the update on the pandemic numbers as we do every morning it is not good it is not good global cases have risen to 2. 6 million. U. S. Cases 842,000 with
Even the president took note tweeting that, quote, oil prices are moving upnicely as demand begins again lets start with bob pisani with the move higher in the market, bob, and everything contributing. Yeah. Energy really on a tear right now. On a bit of a breakout energys leading retails leading 3 to 1 advancing to declining stocks again today second day in a row with advance decline line. Breadth as we call it. We are on 100 points either side of the roughly 2850 on the s p 500. I think that important thing is while were seeing energy, retail do well today, it is big cap momentum guys, kelly mentioned nasdaq, near new highs. Facebook, apple, amazon up 2 today. The market moves when the big five move like that even with some other stocks moving, as well helping the markets today, reopening optimism as kelly mentioned and a nice bounce in oil, treasury officials talking about no plans to punish china overall. Ism Services Better than feared i think and helping signs of stabilization th
Gone red as weve gotten more guidance on Net Interest Income on the conference calls. Yeah. Absolutely the banks are in focus as this first day of earning season in earnest really kicks off one of the names im actually focused on that reported this morning is fastenal, distributors, thats what they make and they provide those distributors to quite a variety of industrial excuse me industries and end markets, early indicator of the state of the industrial economy, youre seeing those shares pop today in part because at a time where so Many Companies are cutting their dividends they actually raised their dividend and they noted that theyre seeing product produced significant shifts in business mix and that march sales of the fastener products declined 10 on a daily basis as industrial activity slowed but their safety business grew 31 as they were sourcing and delivering critical ppe supplies to the marketplace why do i bring this up this is essentially what were seeing and i have a feelin
Selling but the glut looms over the market. The politics of the pandemic. The u. S. And china continue to trade barbs over their handling of the crisis. Washington says the world has been let down. Breaking news out of south korea. We are getting First Quarter gdp numbers quarter on quarter, seeing the biggest drop since 2008. Young talking about a contraction of 1. 4 . It is still a little bit better than expected. The expectation was a contraction of 1. 5 but it will still be the First Quarter on quarter retraction since 2009. The year on year number rising 1. 3 , is also bigger increase and was expected. It was expected it would only gain 1 . It is also growing this rise of 1. 3 year on year coming after growing more than 2 in the past two quarters, so it is still a slowdown from the previous quarter. We are seeing manufacturing taking a big hit, a contraction of 1. 8 for the Fourth Quarter and also contraction from the previous quarter. We are seeing the hit on retail trade, accomm
In the early part of the session, not just the yield curve that dom mentioned but suspensions of dividends from very large european banks this morning as well. And you have the great interview with michael as well talking about that bank and everything hes seeing through that lens, too the other thing in focus, real estate, worst performing sector in the s p today in what is a down day across the board for the major averages coming off the worst First Quarter for the dow and s p ever the other thing im looking at is crude were seeing crude prices come off again after not only the worst month but the worst quarter ever in terms of price fall for crude, lost more than 66 if in the first three months of the year prp you also had the industrial numbers, manufacturing numbers out of europe that didnt look good either john, what are you watching today . Its hard to find good news among tech stocks this morning so much is down. I think its worth having a broader conversation about where we go