Upside. Looking at commodities. Crude moving to the upside. A big move to the downside with , on the vaccine and signs of Economic Growth in the u. S. Particularly helping people not to look for havens or avoid havens, get out of them. Gold down half of 1 . Bitcoin surging up again, it has above 18,500. Juliette lets get the first word news. The head of the u. S. Government Coronavirus Vaccine program says results of trials by astrazeneca show encouraging signs it may help block the most severe cases. No one given the vaccine developed severe covid, while 16 people on the placebo debt. He called the results excited. Nine, reports 70 process astrazeneca report 70 success. The centers for Disease Control a model shows weekly u. S. Cases and deaths rising every week for at least the next month. Italy is the Second European nation to report 50,000 total fatalities. The u. K. Is extending lockdown next week in favor of even tougher regional curbs. Reports from washington say the Trump Admin
Hotspot while infections in india rise at the fastest pace in asia. Zealandsnks new postvirus recovery. We are joined this hour by the rbnz governor, adrian or. Orr. Haidi lets take a quick look at markets. We saw that exuberance over the Moderna Vaccine progress really dissipate quickly. We saw the late session swing when it comes to trading in the u. S. As it has concerns over the efficacy data from moderna causing some concern. Take a look at the futures in asia. We are seeing downside when it comes to futures trading in japan, australia, and hong kong, although we are looking at a little bit more of a positive open when it comes to trading on the mainland, and just also keeping an eye when it comes to Energy Markets as well given that we are starting to see backwardation between that june and july contract for the wti, suggesting some of the storage issues have started to ease. Lets take a deeper look at the markets. Investors are increasingly debating whether the broader stock mar
The comments from the reserve bank of new england, a move for the new zealand kiwi dollar up by. 5 . That is where we are at the moment. Lets look at what is going on in the first word news as we get to new york and join karina. Has dodgedowell Senate Efforts to make and take sides on coronavirus 80, maintaining a neutral stance in the debate over whether the u. S. Should add to its stimulus. Powell and Steve Mnuchin testified remotely to the committee. How all reaffirmed his stance more fiscal help may be needed but stopped short of a full endorsement. China has taken another swipe at australia over calls for an investigation into the origins of the coronavirus pandemic. Having put duties on burly and some beef imports, beijing is threatening to target wine and. Ary, and dairy other products could face punitive measures and their are rumors state media could call for a consumer boycott. We advise australia to read the original text carefully and not take conclusions for granted. Weve
President s chief economic adviser larry kudlow. Hes going to join us. Thats the question we will ask, when, where and how will some americans be able to get back to work. Now, check out the market. It reopens today after a threeday weekend. Last week was one of the best weeks in decades, with the dow rising 12 . No significant pullback this morning. We are down just maybe 70 odd points for the dow industrials and well above 23,500. How about that. The s p down about. 33 and the nasdaq, same thing, down about. 33 . That is not a significant pullback. Not helping the stock market is a forecast from jpmorgan. They suggest that gdp could fall 40 this quarter and unemployment could reach 20 . Now, that is a dire prediction. Check out the price of oil. The u. S. , russia, saudi arabia and other Oil Producers have announced an agreement that would take 9. 7 Million Barrels of oil a day off the world market. However, that has had very little impact. It may put a floor under the price of oil b
Italy overtakes china as the country with the most coronavirus deaths in the world. Gains in france and spain. Removing the red tape in america. President trump says he is working to speed up approval for treatments as teva rushes to bring a malaria drug to patients. California orders its residents to stay home. Rush hour refuses to submit to saudi arabias Oil Production plan. The kremlin sees riyadhs move as blackmail. Is there more turmoil ahead . Just under an hour away from the start of cash equity trading across europe and in the u. K. Lets take a look at futures. We are seeing some decent gains in european futures, Even Stronger than what we see in the u. S. You can see euro stoxx 50 futures up 50 , as of the futures for dax. Take a look at u. S. Futures. More than 2 gains with nasdaq futures up 3 . If you take a look at the big drops during the recent crisis, the nasdaq has fared far better than the s p and the dow jones. Today looks like it will do better in terms of gains as w