Headlines and what it means for markets with our markets correspondent, abigail doolittle. Tech continues to outperform today, and it is something we have seen in recent weeks. Where is the leadership tech typically provides . It was not there on the day. That has to do with one of the headlines you were talking about, ratcheting up tensions between the u. S. And china. They have been there in recent weeks, but markets ignoring it to some degree. Last year, every other week risk on, risk off, depending on the headlines. Right now, there are concerns those headlines, the war of words between the u. S. And china, taking down tech. A lot of these Companies Receive quite a bit of revenue from china. Apple, the tech heavy weight received about 20 from china. The ship sector chip sector is super sensitive to china. We see the s p 500 tech index down more than 1 . The stock down even more. Over the last nine days, we have seen a real roller coaster ride. Last week was risk off. This week we h
Distancing. The National Guard stepping in helping survivors evacuate. Flash Flood Warning and watches for more than a dozen states. Were tracking the latest. Safe travels. The new ways to t aw rentals to renting private homes. How hotels are adjusting to the outbreak. The ceo of one of the Worlds Largest hotel chains joins us live only on gma this morning. Fyre festival fallout. Kendall jenner agrees to settle a lawsuit to pay big bucks for her role. What it could mean for other influencers. Teenage dream allstar summer. Were kicking off our concert with the one and only katy perry and getting ready for the big reveal. Who else is taking the stage this year. The legendary superstars you dont want to miss. I cannot wait to perform for you. Ill see you there. When you look at me just one touch baby i believe this is real good morning, america. Great to hear katy perry start the morning off with some music. We cannot wait to see john legend as well. A big thursday morning and, robin, wer
Ready and waiting. Jerome powell says the fed is willing to use all weapons to combat the coronavirus downturn. Philip lane says the ecb is prepared to boost bond buying. Andrew bailey testifies in front of lawmakers today. A lot of centralbank action. Global coronavirus cases near 5 million, as one report throws cold water on modernas vaccine testing. That is what drove stocks lower yesterday and now we see futures down here, up in the u. S. And asia, say mixed picture. J. P. Morgan joins a Goldman Sachs in saying that further quantitative easing is needed to cap bond yields. The u. S. Is so strong a billion dollars of 20 year treasuries today and it looks like a lot more supply is getting mopped up by the central bank. An hour away from the start of cash equity trading in europe. Take a look at the picture here. Arrowslooking at all red in terms of futures, euro stoxx, ftse futures and dax futures are down. If you take a look at the u. S. Futures picture after the downturn yesterday,
We have a show full of chief executives and experts when it comes to treasuries. We will have a conversation with scott f. Thiel shortly. This is what markets are doing. Charts withuple everything from s p to growth versus value stock. Oil is pretty much study. Decline in banks. That is pulling stoxx 600 index down. Crude, i look at it every day because of what we are seeing. Around 32 a barrel in new york day rally. Four we will have market checks every 15 minutes. Lets get to the bloomberg first word news. President trump is hoping reopening the economy will dampen the need for another round of stimulus. That is shared by republican leaders, with Mitch Mcconnell sang the only way out of the crisis is for america to grow again. President trump is predicting a great thirdquarter. Talks have soured with the u. K. Negotiator accusing the eu of offering a low quality deal. David frost says it is unworthy of the fair trade agreement. Michel barnier a says they want to keep the benefits of
33. 5 million filed in the last seven weeks. I want to dig deeper into these results, uber inching closer to a profit despite these bad profits. I want to bring in taylor riggs. Lets dig in. Shares spiking after hours despite not good results when it comes to ridehailing. The business boosted by uber eats. You gotwhat is key is the ceo said rides are rebounding in places like georgia and texas where sheltering in place rules have been eased. Recoveryaid he sees and this was the news i was waiting for, the cfo has said he does see profitability in 2021. Lyft had been aiming for those targets. All the notes said as it comes to lyft, they were not going to be looking at profitability until the first half of 2022. To get guidance about maintaining that target in 2021 is very key. That is when you saw the stock reverse from what was a 3 drop to what is an 8 gain. Let me walk you through some of the numbers emily go ahead. I wanted to mention the business also getting leaner as a result of s