David it has been up and down even though we had the amazing quarter we just ended. As we go into the second half of the year, you say that maybe perhaps some tea leaves that indicate there may be a shoe to drop. Why is that . Abigail i look at a lot of charts each day and there is just nuances in some of these charts that suggest that some investors are preparing for the possibility of some sort of even shock, an event that most are not anticipating. This is very unlikely. One thing to really keep in mind is the dollar index. There is a lot of indication that the dollar is going to continue declining. The dollar is higher by more than 2 and you have the s p 500 down by equal amounts. This is the real driver for stocks. Drop, as the does economy improves. More so on fed liquidity, that puts pressure on the dollar, you are likely to see stocks and other risk assets go higher. If the dollar rises and there are technical reasons to think you can see the dollar index go sharply higher, tha
Are back down. Yuan a little stronger. Lets get a deeper dive into the Market Action of the day with kailey leinz. Kailey we are in the green by 1 on the major averages. For is the fourth up day the s p this week. Up 4. 6 over the course of the week, the best week for the index in a month. That is in the face of escalating virus cases climbing across the u. S. Those headlines not putting a day per on appetite. One reason why is that the Economic Data is starting to look better. We saw that reflected in a jobs report. 4. 8 million jobs added in june. The u. S. Is far outpacing europe and the rest of the world, although those economic surprises are trending in the upper direction as well. The question becomes do that resurgence is in cases pose a risk . I want to point out a few stocks on the move today related to cars. Is higher by ebits 17 today, after getting an upgrade. Sales have been much more resilient than forecast. About better used car sales lifting a number of auto body shops
Folks theally shows weekend that we go into, it is midmay. I believe the calendar says its may 15. Part of that debate is the tension about june being upon us and even beginning to consider july. What i notice in my friday reading is that there is, including mr. Macron, there is this huge attention about this pandemic forward. Francine it certainly is and how you distribute all the medication. Lets get straight to the bloomberg first word news. Bless you, tom. Good morning, francine, tom. China denying it try to cover up details of the coronavirus outbreak. Beijing says it did not know until january 19 how infectious the new disease was. China says they release that information the next day. Chinese the federal government is out with new guidance on how to reopen bars, restaurants, and workplaces. Of cdc has outlined a number steps, among them, including social distancing, and how to tect coronavirus cases. Germany has ended a historic recession with its biggest month in over a decade
The startling offer from President Trump to the family of a british teenager killed in a crash with an american diplomats wife. Its been an intense day of negotiations in brussels and the situation is still unclear. Here is the bbcs Political Editor telling us a little while like. The negotiations, though, looks set to carry on this evening and potentially into tomorrow, when the latest european summit begins. Bruno waterfield from the times says. He goes on to say. Despite all the twos and froze and the fact there is no deal coming this evening, there remains a lot of optimism about the situation. For example, listen to emmanuel macron. Translation we also worked on preparations for the European Council summit tomorrow and friday. We talked about the budget, european enlargement and of course brexit, on which i believe an agreement is about to be finalised which we can sign off on tomorrow. It looks like were heading into another layton brussels. Late night. The bbcs gavin lee is righ
Stronger when we Work Together with threats to global stability and trade, that principle is more important than ever and throughout the summit my message is on the overriding need for International Cooperation and compromise. Longtime discussions with International Partners on economic and Security Matters i made clear britain would always stand by the global rules and the best means of securing peace and prosperity for all of us. I would take the may issue in turn. On the other issue is the need for International Collaboration greater than in the threat to the country and our people from Climate Change. As i arrived last week i was immensely empowered that britain had become the first major economy to commit in law to ending our contribution to global warning by 2015. I urge other countries to follow britains lead and set similarly ambitious net 0 target in their own countries. Those issues, the last generation of leaders with the power to limit Global Warming and i believe we have a