Off is also bullish. We certainly have the bulls out. One stock not participating is royal caribbean. They put up a very bad quarter. Interesting, target put up a good quarter. Those shares are trading lower and that has to do with uncertainty around the consumer. They put up a good quarter. There are concerns about margins and will that eat into the strong sales, but will we see the consumer start to move back for Discretionary Spending or will it be all about the staples . To, i everyone you talk spoke to Brian Moynihan yesterday, he said it is all about the consumer. You are a student of the market. Tell me how you tell the difference between a bull market and a bear market rally. Abigail lots of signs, and that is something that has been on my mind. It is probably too early to say this is a real bull market for the very reason that if you work to go back to this time in 1929 to 1932, the initial fall was a decline of 44 followed by a 46 rally and then what ultimately turned into an
We should not learn too much new but the dollar index is a little subdued. We do have gold continued to rise. Crude oil after inventory showed up 4 . Rawdown at lets get a deeper dive into the Market Action with taylor riggs. Taylor i wanted to take a first look at an index we have not shown recently. It talks a lot about companies that are traded in the u. S. And get revenue and business over in china. You can see that the nasdaq index is off 1. 7 . This is lower after headlines in the senate boosted an oversight of Chinese Companies. It would certified there is no firm control and foreign control and could request Chinese Companies to delist from control. ,his comes as a separate story but the nasdaq said it would delist the company after revelations of county fraud. We are getting a lot of interesting news. This is a risk on tone filling. Crude is higher, the dollar is weaker, gold rising a little bit but so was copper so im trying not to read into that much. The 20 year bond auctio
A couple of days on the holiday and we are seeing assets catching down, what weve been seeing most of this week. The csi 300 down. 6 . A lot of focus has been on the renminbi. Fixed slightly stronger, but marginally. Perhaps it has limited the volatility. Weve seen implied vol spike for the offshore renminbi. We are seeing a bit of spread between the onshore and offshore. The onshore at 7. 0 632. We are watching hong kong as we slowly return back to normal. Weve heard from carrie lam that they will open gyms, theaters, massage parlors. 123 in hang seng, up points. U. S. Futures, still heading lower and nifty futures. We will see it seems more troubled when it comes to the indian reopened. And theylot of brawls are slapping a huge tax on liquor sales too. Tom lets get more on the Market Action with Mark Cranfield in singapore. The question of the day on the mliv is how important is trade for these assets . 10 investors look past the tensions between beijing and washington . Maher it wil
Damage. China near a takeover of the airline hna, saying it wants to stem the economic fallout from the coronavirus. Cruise passengers return. The first batch of hong kong residents from the diamond princess are due back in the city today, but there is lingering confusion about their arrival. U. S. Attorney general william barr tries to invoke an old law that protected tech companies. Ike google and Facebook Paul nothing has been happening released since you have been gone. Lets check in on futures in asia today. New zealand already trading at the moment. X higher by a quarter of 1 . 1 in by 1 5 of australia. 771 millioned profits. Pretty flat. Qantas seeing an impact from coronavirus. Few catalysts to watch out for. Aussie jobs expected to rise a little and china expected to cut its loan prime rate. We have machine tool orders out of japan as well. Emily i want to look at where u. S. Markets closed today. Lets get to bloombergs taylor riggs in san francisco. Taylor risk on across the
Lets get over to china correspondent in beijing for more. What are the latest developments . The economic front, we did hear from the finance minister over the weekend. There will be additional measures from china to cut taxes and fees to support the economy. We saw additional meters over bond issues at the local government level. Additional letters from policymakers to support the economy. Meet its social and economic target. The question is how much budgetary pressure china will be under and how aggressive these stimulus measures are going to be. Pboc has lowered Interest Rates ensure Financial Markets in terms of cases, 68,500 are the latest numbers in terms of infection. 1600 deaths. The rate of infections continues to slow. We had a doctor out of one of the hospital say that now according to state media, this is starting potentially to peak the rate of infection. The new officials on hubei profits, wuhan is the capital, population they are told not to leave their homes. Leadership