France and germany and others remove travel receptions spur tourismu. To and britains nonessential shops opened today as well. Stocks fall on fears of a wave of rhinovirus infection. Over 20 u. S. States see a pickup. Tokyo sees the most cases in over five weeks. Beijing reports another outbreak. Plus, bloomberg learns of an internal plot at nissan to take months beforeown his arrest in japan. The information comes to light and is due to face a trial in tokyo. Just under one hour away from the start of cash equity trading. Lets take a look at how far down futures have fallen, right now looking at 2. 5 drop on the stoxx 50. The benchmark index. Futures down a little bit more than that. Teachersok at u. S. As well. S p 500 emini contracts approaching 3 losses. Nasdaq futures off. What does the gmm look like . Anna ill get to the gmm in just a moment. Pricel giant revising its assumptions and expecting to take a charge in the second quarter. They see a noncash impairment and the write off
Power lunch starts right now the s p 500 briefly dipping below 3,000. Bob has more on todays sell off. This is a very interesting day because its complicated we had a 70point swing in the s p 500. Wii right on the verge of going positive its not simple to say this is a day when the cyclicals started rallying the market is bit unsure of what to do. Just take a look at the dow leadership here. You say, look at all these industries rally here. 3m is up boeing is having a good day. Were seeing the other stocks. Raytheon is on the upside. You say the cyclicals are doing well thats not really the case look at the dow laggards, for example. You get defensive names like merck and pfizer caterpillar is still down. Banks are still down even though they are off the lows. You see its not quite simple to say the cyclicals are rallying boeing has been on a wile ride for weeks. It was 176 earlier in the day. Its been moving up and moved into positive territory. It was 155 two weeks ago it goes down t
1 2 3 boeing is having a big day today. The reopening trade is in full effect Piper Sandler is up today. They say the pain trade is up. They reiterate their 3,600point yearend target for the s p, which sounded crazy when they first put that out, but now i wonder if we have to start looking at that as a coming formali formality, as crazy as that sounds look, ive been adding capital to the market and if you asked me a month ago what i would be doing, i would tell you, i would be down 50 in my exposure not for performance, but for taking money off the table this has sort of hit the frenzied period. The reason why its doing that is because its a valuation holiday, its a fundamental holiday. And when you see things that are happening in the real world, the social injustice, the division in the u. S. , the division in terms of International Relations with merckel not wanting to come to g7, with the relationships of china, you would say, you know what, the markets getting through that so i fe
Higher by 35 after the s p snapped a fourday winning streak yesterday, the dow, nasdaq and s p 500 still on track for third week on gains this week, boosting the American Economy, the white house working on another round of stimulus reportedly to the tune of 1 trillion. We will talk about it. Meanwhile protestors taking to the streets for a tenth day in a row, mostly Peaceful Demonstrations happening from coast to coast as memorials are held for george floyd, clash of tech titans, elon musk is calling for the breakup of amazon. Meanwhile slack and amazon are joining forces to take on microsoft. Joining me at 8 50 eastern on powerful alliance. Getting make back to work, universal orlando opening gates to public and nba has plan to return july 31st. Mornings with maria begins right now. Global markets this morning with firmer tone, take a look at european indices right now, the cac quarante in paris is up 106, better than 2 and dax index in germany 213 points. European markets closing ou
Last week. That means 38. 9 Million People have been thrown on to the unemployment lines in the last eight weeks. 38. 64 million to be precise. The only bright spot is the weekly claims have consistently come down. That implies that the layoff trend has already hit bottom. Heres the markets reaction to all of this. The dow at the moment is on the down side but not much by. Youre looking at 60 points lower. Youre looking at the nasdaq down about 16. Small losses across the board. Helping the market, astrazeneca, working with Oxford University, they have announced progress on a vaccine. They will do phase three trials with 30,000 american patients in july. If it works, they say they could deliver 300 million doses by the early fall. Then weve got three stories about open up and open up now. 600 doctors delivered a letter to the president outlining the Severe Health costs of the lockdown. They call it a mass casualty incident. Open up, they say. The front page of the New York Post blares