Euro bailout investors price in the prospect of negative interest rat rates after opening the door to the policy of course we are keeping it to where the access would be a very warm welcome to street signs. Weve got some fresh data coming through. This is flash pmis as a whoeld. The flash manufacturing pmi for may has come in at 39. 5 up from 33. 4 in april in terms of the composite number for the eurozone, that has come in at 30. 5 up from 30. 6 in april the services pmi which has been the hardest hit sector as a result of the lockdowns. That has come in at 28. 7 up from 12 in april, we already had france and germany come through and we have the overall eurozone number. One other thing, one of the key kpoen nants here, the new business pmi has come in at 28. 4 in april an uptick there. Contraction did ease in may but still very sharp we have the euro trading slightly weaker versus the dollar this morning. Lets bring in our first guest Chris Williamson geoff and steve also with us chri
If you look at it, it is more of a financial thing than an Oil Situation. Airlines stock go into descent. Problems for peugeot expecting to see the european car market shrink this year. Lse outperforms. Also reaffirming the final dividend and will complete the 37 billion refinitiv deal in the second half. President trump issues an executive order suspending all immigration into the United States to, quote, fight the invisible pandemic and to save american jobs. Well documecome to street. Lets get to the top stories of the today, which is energy markets. U. S. Crude turns negative for the First Time Ever. Siting the strain on storage looking at minus 2. 08 falling 30 , yesterday settling over minus 37 a barrel. That means producers would pay traders to take oil off their hands. Amid widespread lockdowns amid an output cut among opec have not yet taken effect uta trading around 20 a barrel. Clearly holding out much better than the may contract. Big questions remain over whether we could
French group bucks the trerchd by confirming its dividend bnp says revenue is resilient. Saying the Economic Outlook is difficult. We should look at a return to normaliz normaliz normalized aspects is probably not going to happen this year. The return like in 2019 will not be reached before 2022 new car sales are almost completely wiped out in april, falling 97 . Levels not seen since 1946 as the coronavirus pandemic wipes out consumer demand. A clash of titans wework founder adam neumann takes the fight to softbank for scrapping the 3 billion tender offer that was paurt of a rescue plan for the Office Sharing group a warm welcome to street signs this morning. We are awaiting germanys Constitutional Court ruling on whether they overstepped the mandate purchasing bonds even if the courtrooms in favor of the central bank, the decision could have a Lasting Impact on measures including the pandemic emergency package lets get a check in the leadup to the decision. We have seen yields move h
Pandemic kering gets paired down with gus gucci sales down volatile trading again in oil as brent bares the brunt of the selloff. Nearing 21year lows producers battling the glut and depressed demand the u. S. Senate passes a new 500 billion relief fund package. This will go to hospitals. Loans for Small Businesses and some assistance in the funding for testing. You cannot tell people to go out in the streets without adequate testing or the fear is that corona will come back doubly as hard as it came the first time a very warm welcome to street signs. European markets starting the morning off on a high note currently trading about 1 higher following a steep selloff with the main benchmark breaking the win streak this morning, european corporate earnings taking focus. We had a number of Earnings Report a raft of Different Industries movement around dividends and a lot of pressure on earnings. Companies sounding a more optimistic tone in the second half of this year and beyond 2021 Energy
Leaves families scrambling to find rides for their kids at the start of a new school year. Access to transportation is really access to education. Across the country we are also seeing an increase in chronic absenteeism. Geoff and with more children becoming social media influencers, one state works to ensure they are getting paid for their work. Major funding for the pbs newshour has been provided by the ongoing support of these individuals and institutions and friends of the newshour including leonard and norma core fine. The william and flora hewlett foundation. For more than 50 years, advancing ideas and supporting institutions to promote a better world at hewlett. Org. And with the ongoing support of these individuals and institutions. This program was made possible by the corporation for public broadcasting and by contributions to your pbs station from viewers like you. Thank you. Geoff welcome to the newshour appeared on this labor day, President Biden has touted unions in play