Yesterdays stock rally. European equity futures suggest another grizzly session. Reject ree to restrict travel to the region. Angela merkel is not rule out joint eu debt issuance. Welcome to the European Market open. Lets get straight into breaking news from the car sector. Car sales in europe are off to their worst start to the year since 2013. Registrations declined 7. 3 . The coronavirus is shutting down car plants worldwide. Earlier on, we heard from toyota. Daimler vw, and that is the way we are heading. Things are looking to get worse before they get better. Of february looked different than the end in terms of consumer purities priorities. Lets get a look at how the car sector opens in just under one hour. Under one hour to go until the sort of cash equity trading, here is what futures look like. 4 under pressure, down by or there about. Down,utures are also nasdaq futures down more than 4 . , we saw strong gains but now things are looking more difficult through the Asian Sessio
Contain the spread. Successful emergency surgery james dimon undergoes emergency heart surgery, temporarily handing control of the largest u. S. Bank to his lieutenant. Reports are he is recovering well. Morning again from berlin. Im matt miller. Nejra cehic is out. Manus cranny is live in vienna. We are going there to the opec plus meeting. Incredibly important meeting as you will see in a moment when i show you the oil price in just a few minutes from now. I want to check on first off the number of data points after the big slump we saw in risk assets yesterday. There is unusually no sign of a. Alance typically after 3 , 4 slump on indexes, you see a bit of a bounce. We are eight and a half hours away from the open of live u. S. Trading. Nonetheless, u. S. Futures still down again 1. 25 . In just a to manus moment. Crude oil at 45. 43 a barrel, and the yen, which was really looked for me when i across my asset price worksheet the yen was 105 handle, safeng a real fleet to haven asset
Points. 770 is the yield on the 10year treasury right now. The yield on the 30year treasury below 1. 35 . It is now down 18 basis points at 1. 358 on the 30year. Mortgage rates are hitting record lows, how you can take advantage of this, these yields are tied to mortgages so we could see refi activity as well. Coronavirus crisis, one hundred thousand confirmed cases worldwide. That number is expected to increase. President trump says that the u. S. Economy could take a hit but says it is all going to work out and everybody should be calm. The democratic field is thinning out. Elizabeth warren the latest to drop out of the 2020 race but not making an endorsement just yet. Meanwhile this Jpmorgan Chase jamie dimon is recovering from emergency heart surgery this morning. The surgery was successful and dimon is awake and alert. Plus nashville recovery, President Trump headed to tornado ravished area today after approving disaster declaration, we will tell you there live this morning for a
That steep selloff after the fed surprise move, reversing today, at least for the moment its holding the Dow Jones Industrial is good for a 2 gain at this moment s p is holding above 3,000 1. 75 . Nasdaq up by 1. 5 . The question today, i want to know the answer to, joe, is, where are we what does this action tell us about whether weve hit a bottom or not or is this a process thats going to take more time its absolutely a process thats going to take more time this process began january 17th. On january 17th, the u. S. Ten year was 184 the u. S. Tenyear fell january 31st to 1. 50 the market at that point was telling us exactly where we are right now. Now i understand 95 basis points and what i left on february 12th, u. S. Tenyear was 1. 63 were going to take the lead from where the u. S. Tenyear goes you need to see the correlation between a lower yield and lower stock prices begin to break down i think whats incredibly relevant at this point is the actions of the Federal Reserve and wh
At 1 00 p. M. Today. Time now for global exchange. Tom hong kong to beirut, berlin, brussels and washington come our bloomberg voices are on the ground this mornings top stories. We want to begin in china. Chinese vice premier liu he will travel to washington next week to sign the first phase of a u. S. Trade deal. Ranthe current enda cur joins us. In some ways, no surprise. Enda no surprise, but is the first indication that we will find this next week. It will be a pretty heavy delegation with the vice premier. Other trade and commerce related officials. We dont have much more detail be on. The Foreign Ministry didnt give much more detail. That agricultural goods are part of the agreement, but we dont know what else. While this is obviously a positive sign that the trade deal will go ahead, a lot of people will be looking for any final hiccups in the days before the signing, and of course, when the details come out, there will be a lot of scrutiny. Alix thank you very much. In beirut,