Tepper and Stanley Druckenmiller both say stocks are overvalued u. S. china tensions flaring again as the fbi warns that chinese hackers are targeting covid19 research firms. We have a big lineup of guests today to help break down this selloff including bill mill miller, david harrah, david ruinstein and Liz Ann Saunders from Charles Schwab. Down 550 points, down 620 moments ago. Weve got full Team Coverage of todays market downturn. Scott wapner, mike santoli, and Steve Liesman with us. That bearish call from apple when asked about Hedge Fund Manager Stanley Druckenmillers assessment that the risk reward in the market is, quote, maybe as bad as ive seen it in my career, heres what he said. Its definitely as of yesterday, now the market is down from yesterday, i would say that, you know, 99 was more overvalued than 2000 but, yeah, i would say its one of the most overvalued markets, maybe second most overvalued i seechb the market is pretty full but theres a lot of liquidity there. Its
Lots of people start retiring retail value starts to drop your medically, as a result of which, air france is taking the 500 million euro hit on that. Vonnie suppliers like rollsroyce, talking to the jet engine maker earlier on, and every time a widebody plane aes away, rolls doesnt get reorder for that particular plane. The s p 500 up 1. 5 . Most stocks are higher in the s p, and all of the groupings in the s p are higher, but we do have about 50 or so stocks lower. To be honest, a lot of those are came out after target and said, look, i cant tell you what is going on with the consumer. I am just completely confused. Target upping its offerings of fruits and vegetables and cook foods, but really not understanding what the customer is doing about a parable is doing about apparel. The dollar index down to 99, testing the 99 mark. Lets not forget the fomc minutes later on, for what thats worth. Theres also a lot of chatter about negative rates, particularly out of england. The 10 year yi
The u. S. Wrapping up pressure on beijing and it will be interesting what happens tomorrow, when the pboc reopens trade markets reopen trade and that pbo css the daily effects. Take a look at currency. It has been a mixed bag and we are watching the aussie dollar with the bank meeting today. Bank negara could be interesting expecting a 50 basis point cut later today. Are watching dollaryen summit strength low 107 now. Take a look at your commodities markets, brent crude and wti on a rebound today, gaining 6. 5 for wti. On the longest winning streak in 10 days, up for a fifth straight day and u. S. Futures also positive now. We are watching palm oil, back. We will talk about where prices go next. Lets get more analysis on these markets with our Cross Asset Team in singapore. U. S. China tensions again boiling over, keeping a lid on the markets peered what is your take on the applications . The u. S. Will often come out and say things, especially the Trump Administration, and sometimes t
Pandemic could do lasting harm to u. S. Productivity. And bnp paribas warns earnings will see a big hit from the outbreak as it takes more than one billion dollars in charges as a writedown. Economyr view, the getting back to normalization will be happening at the best at the end of the year and a return to gdp to normal will not be before 2022. Voice of guidance for those numbers. Warning that profitability could drop as much as 20 this year. Between 15 20 is the warning. In the dropping by 14 quarter but it is the announcer 9rovision covid1 provision. When you think about what has come so far, santander, 1. 6 billion. Deutsche bank was 500 million. What you see here is para bof taking a smack at the equity side of the business. Fixed income commodities rising by 35 . Those are the top line numbers. Let us get to lars maca henil. Were three projections impacting. The cost of risk. 500 million. Literally affect is leading to the accounting. Our portfolios are growing linked to what the
They come. Checking out the 10year, weve been around the same level yesterday we were at 0. 75 this morning, it looks like the 10year is yielding. 69 saying the Global Oil Demand will fall by 9. 3 billion a day erasing almost a decade of growth down about 2. 25 baushing it back to 19. 65 a barrel dr. Scott gottlieb, chairman of cbs health, fanatics executive chair. Chief Investment Officer and more coming up in the next three hours. Joe . Becky, you remember United Health care is a dow component we always say, thats right. Thats right you notice the dow is down around 370 or so maybe repairing partly due to United Health care the Company Reported an adjusted 3. 72 for the First Quarter. Nine cents above estimates the company said it is keeping its prior 2020 full year guidance said it would continue to evaluate the ongoing impact. You can see up about five points or so. Ee quaids to the improvements we see. Well hear from bank america and other companies. We are in earnings season now.