Welcome to bloomberg surveillance. I am Francine Lacqua in london. We are also getting a cut of an Oil Demand Forecast amid the darkening of the travel situation. If we go straight to the markets and have a look at those, the story really is with these stocks, so yesterday, the stocks had quite a big move, and we are trying to figure out exactly what that means for the earnings forecast for the future. What else i am looking at is crude oil, as you see, 42. 56, after the iaea report, and the litmus test, in terms of risk appetite, gold at 1930. Are signs of faltering after stimulus talks in washington remain at deadlock. Now, lets get straight to the bloomberg first word news. Reporter hi, francine. A warning that a failure to control the pandemic is undermining the economic recovery. The boston fed president says americas over eagerness to reopen has backfired. He is concerned many temporary layoffs may become permanent job losses. Rosengren my thought is some kind of stimulus is goin
Continues to rationalize the data in absence of positive inflation what is seen as good news but there really has been an avalanche of bad news but ambrosia for market bulls. It seems contradict at this. Well get right to it with alli mccartney and Adam Kobeissi on deck. Forget about earnings season, folks, if you want to see stocks take off, Pay Attention to conferences that calendar is filling up. Well talk about the ones that might move the most. Wall street legend jim grant on the path of fed moving forward, why he says the chance of rise in Interest Rates the next 12 months is higher than the market is expected. My take on the replacement theory that no one seems to be concerned about. All that and so much more on making money. So, the floodgates have opened, right. You know the story, open sesame, the door opens, closest is a me, what did he see . There it was all around a heaps of sparkling jewels and piles of gold. You know i thought about alibaba in that line when i was thinki
And currencies ahead of europes close. Speaking of m a, a massive deal in tech. Why cisco bought splunk and what it might mean for more m a in that space. Topping the tape, higher for longer. Are stocks setting up for a test of the august lows . Senior markets commentator mike santoli is with us. Does feel like stocks are playing a catchup to bonds, which were ahead on the higher for longer. To a degree, yeah. Were sort of arguably in that test thats under way. The s p 500 about 0. 50 where it bottomed out in midaugust. Its also the lower quarter ep end of stocks are waiting to see if longer term treasury yields were, perhaps, topping out around those october highs. Now weave clearly broken higher. What happened with the fed yesterday, even in broad strokes, as weve been saying, not a radical change. Theyre done or near done. Any moves come slowly, theyll be careful. They did remove those potential rate cuts, however anything longer than six months is all kind of hazy on the horizon. W
We have a lot of breaking news. We need to literature treasuries and the markets. Im interested in what japanese treasuries are doing today. Oil stockpiles rose in the First Quarter despite the opec cuts. Lets see of its having an impact on the price of crude. You can see its unchanged at 52. 96. We have that report that is extremely important. I am trying to filter through what we know and what we dont know. Despiteles are rising the opec cut. Thats the one significant thing. The Oil Market Needs time to rebalance as january stockpiles rose. There is little affect on the market so far. It. Will be looking at in the broader market, the dollar is slumping a little bit. Talking, he was said the dollar was getting too strong and shares in europe. Lets get straight to the bloomberg first word news. Rex tillerson and his russian counterpart vented their disagreement after hours of talks. They did signal that neither side is given up on improving relations soured by russian hacking and syria
IIM Shillong hosted its first CXO Round Table Meet in Delhi, bringing together industry leaders, academicians, and stakeholders. The event aimed to reflect on the role of management education in fueling the growth of the Indian business sector and reimagine the future of business management. Industry leaders emphasized integrating concepts like Artificial Intelligence into the curriculum to prepare students for the future. They also highlighted the importance of digital technology and the need for adaptability in the face of the COVID-19 pandemic.