Texas sees record daily infections. Walmart demand shoppers wear masks. Some of the most prominent have beenn america hacked. We will have the latest. Lets take a look at how we are shaping up when it comes to the futures session going into the start of trading this thursday in asia. Take a look at u. S. Futures pointed a little bit to the negative, flat at the moment for futures contracts after u. S. Stocks climbed to her than a one month high. We had renewed optimism that we are getting closer incrementally on this Virus Vaccine Development front, not just with the news on moderna, but also a rival set of trials being conducted in the u. K. , reporting some progress. We saw the s p gaining just shy of 1 and actually manage a drift back into positive territory for the year, albeit brief. Chicago looking modestly higher after the bank of japan governor , kuroda, provided some clarity albeit still a very dire outlook when it comes to the japanese economy but saying it was now past the w
Secondquarter rally to 20 . The dow jumping 18 . However, dr. Anthony fauci today, the nations leading disease expert, said cases could soar if behaviors do not change. Fed chair jay powell said getting the virus under control is just as import does the u. S. Economy itself. Abigail doolittle has been covering the ups and downs. What is driving all of this . Abigail behind the rally we had today and yesterday, i think it is just a cushion to the end of this banner quarter. Investors wanted to make sure they locked in the gains. Fundamentally, not a lot changed. There was some fundamental economic data. Little bit more positive, some Chip Companies put up some good quarters. From the factr that there could be some more Companies Boycotting but a bit of a rebound rally. Confirming the risk on mood company 10 year yield higher. Bonds are lower on the quarter. 20 on the up about quarter. Treasuries higher. You do not often see that, where you have bonds and stocks. The same time, Precious
Technical has laid a big role. We were talking about the 200 day moving average, 3000 on the s p 500 and it was a resistance level until it wasnt. I was looking at the etfs that track hong kong stocks. About up twot point 1 . So relief that the president did not announce any new tariffs. He is not going to touch the phase one trade deal. All the other movements and announcements he made are largely priced in and as far as the measure is concerned does not change the big picture. Romaine lets bring back the chief Investment Officer at Deutsche Bank wealth management. Idea of thebout the fed support here and the idea that a big part of this rally, a huge leg of it, is resting on that fed support whether what is done already or what it said its going to do. Is there a risk that should the fed start to pull back and say enough is enough, do we have enough confidence the markets can continue higher on its own without that support . So, romaine. Bt the feel the fed has been essential really
The nasdaq outperforms amid stabilization. Concerned about the phase one trade deal as china tells state buyers to suspend orders of some u. S. Farm goods. Beijing Hong Kong Security law is straining. Shery a quick check of the markets. We are seeing u. S. Futures under a little bit of pressure, but this has we saw u. S. Stocks resilient. Markets chose to focus on positive signs of economic recovery during the regular session. We have the s p 500 at the highest since march. Gun makers rallying as protests were marred by violence. We are hearing President Trump is preparing to give remarks from the rose garden tonight. We will watch that very closely. Tech shares outperforming after factory index chose American Manufacturing rising for the first time in four months. Take a look at what currencies are doing for the moment. We have seen the dollar index really under pressure, sinking for a third consecutive session. We are seeing the dollar continuing to fall and sinking against most g10
Being exposed to the coronavirus. Companies are laying out plans for a return to work from facebook to jpmorgan, even if it means only 25 of the work worse will be back in the office and perhaps not even until the end of the year. Taylor riggs has been following the action. Taylor some of that negative news that you were highlighting, the equity markets as you know are continuing to gain on the hopes of a reopening plan that was expected to come in the next coming months or so from a lot of these major companies. Big tech has really resumed a lot of leadership. The thing they wanted to point out was the big performer, reading the note from our chief equity strategist to set the gap in the forward pe ratio between tech and tech excluding the big five goes back to july of 2013 and the ratio explains the dominance and outperformance of Companies Like google, showing the discrepancy we havent talking about. Emily expedia out with results, hit hard by the standstill of global travel. Countr