Brent. 52. 35, not down as much as it was earlier. The 10 year yield down another basis point at 2. 09. We are climbing ever higher to the 2900 mark on the s p 500, up just 3 10 of 1 right now. Guy lets kick off with hong kong. Another day of massive protests yesterday as chief executive carrie lam says she would indefinitely suspend consideration of a controversial extradition law. Joining us from hong kong, Stephen Engle, bloombergs chief north asia correspondent. Do you feel these protests are going to continue until carrie lam departs . Stephen yeah, that could happen. Of course, they are at a much smaller scale during the workweek, a full day after the estimated 2 million hong kong people took to the streets yesterday in that defiance against the extradition bill. Right now we still have several hundred smaller pockets concentrated down here, in front of embattled chief executive carrie lams offices. Theyve been here pretty much all day. They dont want just a suspension of debate
He was looking at a way to demote jay powell so he wouldnt be chair anymore, not fire him. I think a lot of people think it would be against the law. I asked senator tillis from north carolina, who is on the finance committee. He thought maybe it was possible. President , ithe is his administration. He should look at everything he can do within his legal authority. I havent reviewed the legal analysis, but theyve got a lot of smart people in the white house. It probably is within his authority not to remove him, but potentially consider another chair. David it sums like if you were to do that, the Republican Senate wouldnt stop him. Alix well no, of course not. Someone, who would he pick . Of uld be the perfect the perfect dove . David i think you will come out for blood if he doesnt get his rate cuts. Stay with bloomberg as we bring you live coverage of the latest decision, followed by jay powells news conference, starting at two is like this afternoon. Alix from one politician to ano
You mentioned brent. Index isy getting a bounce. We will get to some companies in that indexing in just a moment. Tyson foods has come out with its competitor to the beyond meat product, and getting a bum from that of about 1 . We just had that ipo, another successful tech ipo, with fiber international. Guy crude definitely the top story, spiking up after two tankers were damaged in the gulf of oman. Our editor for commodities is joining us from new york. Is this an escalation . Luke reporter the market is certainly reporter the market is certainly reading it that way. Neither of these tankers was actually carrying crude oil, but weve seen all the reaction in the crude market. This is just outside the straight of hormuz, which iran has previously closed outside the streets of hormuz, which iran has previously threatened to close. Weve seen a drop throughout the course of the day. If you are looking at the global picture, this area accounts for 20 of crude Oil Production 40 ofy, about 3
exception of the russell. we have mentioned flak, that is finishing the day up 50%. , roku, moving up. you re seeing a lot of bids come in to what some people view as growth stocks. up in 2020,is now on a lower volume today. gx, growthe s stocks, 1.1. great: the ipo s are a opportunity here but cap start down for the second day in a row. let s see how many we can add to the public market this year. belowe: casper closing $10 per share. investors like the familiar growth stocks. let s dive into the action with our reporter. abigail, get us started. abigail: in the face of those big gains for stocks, i want to take a look at a chart that we have been taking a look at over the past week, relative to the macro picture. the coronavirus strategy what we re looking at on bottom are a lot of the risk assets, crude oil down 15% on fears that demand for china will eat into crude oil demand. that is true also for cop. china is the world s largest user of natural resources. in blue, down
the earnings report. half the stores in china are closed right now. witho much the case google. revenue disappointed. there are privacy and regulatory issues coming up once again. google down about 4%. guy: no longer a trillion dollar company. we are up around 1.5%. stabilization and asian markets, particularly china. a huge response from the chinese authorities. saferesult of all of this, haven seeing a little bit of selling. gold is down. a little bit of selling when it comes to the german 10-year. vonnie: the u.k. asking its citizens to leave china because of the coronavirus. let s go to hong kong. how serious is this development? we have a huge number now of deaths in china. this is the first in hong kong. the first death in the city. the second death we have seen that happened outside of china. of thiseeing the risks outbreak going further away from china as you mentioned. the numbers continue to pile up. 427.eath toll at at least more than 20,000 cases worldwide, most