Return back to this market. I guess if you are an investor going long, you have to be happy with what you have seen over the past few days. Caroline down in volume. Very much the build up toward labor day. Managed to rise 12 points. Overall, it seems to be all focused on neverending buying. Out, a we should Point Company here, big commerce holding, this just went public at the start of this month. It was up 37 today. This is basically going to be the software behind this ecommerce storefront. Big commerce is the beneficiary of this announcement. Taylor about 88 billion in market cap, showing a pretty big number on the top in bottom line. Estimates were about 1. 55 billion. Decent beat on the bottom line on adjusted aces. Earningspershare, 1. 81 versus 1. 09. I continue to shift through some of the earnings. In the meantime, lets get back angelamwanza mwanza, from ubs. I am curious, as you recap earnings season, were expectations too low . Or you present where you pleasantly surprised a
Im yousef gamal eldin in dubai. Quite the risk on session. Lets get you the state of play. The signals were getting between the u. S. And china are encouraging. S p 500 many futures are higher. Quite a few gains in the european stocks story, as well. Tech and cyclical sectors, including autos, are leading those gains. Fund managers are overweight on 2018, according to the latest bank of america survey. Telling bonds standing out, paring middle of the gains. Treasury study in the United States. Eurodollar at 118. 16. Little upside, weaker dollar story weighing on broader g10 space. At a net long position, the least bullish in three weeks according to the latest data. Lets check in on your bloomberg first word news, will be get you some of the other stories were watching, starting off with president donald trump. He says a coronavirus treatment that involves blood plasma from recovered patients will be expanded to more sick americans. It adds to therapy even before researchers fully unde
Maria is there with more. What do we know so far . It seems like they are going to be talking on the 750 billion euros stimulus. Is that rhetoric . Maria it is unclear whether we get a deal. We do know european leaders have been stuck in a room was 10 hours debating what to do with his Recovery Fund. It is clear there are three major sticking points. One has to do with the size of the Recovery Fund, how big it is going to be. Euros wouldbillion be granted as grants to countries in Southern Europe that have been badly hit by the coronavirus. That could change during the weekend. There is an issue with the format, how much this money will be in terms of grants and how much will be a typical bailout just cash for reforms. Secondly, this is becoming a major thing, the governments. Who is going to make sure a country like italy after they get this money, who is going to make sure they use it for reforms . For a country like the netherlands, for the dutch Prime Minister to whom i spoke to in
The second world war. Futures are rising. Oil retreats after a meeting with Top Producers is delayed. Talk is tough. We are just under an hour away from the start of cash Equities Trading in europe. Gains looking at decent across European Equity indexes. If you take a look at u. S. Futures, you see gains. Asian stocks advanced as well as these gains that we have seen. Daily reported death tolls and some hotspots dropped on sunday. Boris johnson was put into the hospital. Lets get into the markets right now. Lets talk about risk sentiments. Are we talking more about a risk on day because traders think maybe we have somehow peaked in terms of the coronavirus threat . Futures are telling us it will be a risk on day. If we look at daily fatalities, on april 5, they are the lowest in a month. We are seeing a flattening of the curve in countries like spain and italy. U. S. States saw the first reported decline in daily fatalities. That thissoon to call will be the end of the market pressure
Manus a warm welcome. It is a whole new paradigm. She does not know what to do. She has someone else here. Nejra great to have you in london. How are you doing . Manus not too bad. A bit shocked by the cold. There is a cognitive dissonance and credit markets. It is stunning. He refers back to britain in the 1930s. There are red flags everywhere. We point to them even without the coronavirus. That just adds a new risk. The question is, what is the size of our arsenal. Whether it is effective and if there is more to come. You see a stronger yuan. It strengthens. The question is, we have had nine days of the repo rate dropping. That turns around. But the repercussions are whether you are the through the worst of it. Lets roll it over and have a look at that. You have copper better this morning. Im talking about a meaningful shock to copper demand. Although the cash market is closed for a u. S. Holiday, you are still looking at the futures here. There is a world of money out there to buy t