Boris johnson and his house secretary. Spains deputy Prime Minister yesterday. Huge number of cases in the u. S. 22 states now under stayathome orders as 50 of the u. S. Population is meant to be abiding those orders. Down to 73 basis points on the 10 year yield. Crude back down again. 21 point 49. Canadian dollar weaker by about 7 10 of 1 after the bank of canada reduced its Interest Rate to 25 basis points. The Prime Minister selfisolating over here, the Health Secretary selfisolating. We are all selfisolating. The brown story in the market is done and dusted. We go into a weekend where traders do not want to take risk. Terrible numbers overnight out of spain. U. K. Numbers continue to climb. Numbers around the world of those infected and the fatalities continue to rise. That story is now taking over from that meal a we focused on so much over the last couple of days. European stocks at session lows, approaching that 300 mark with a bid back in the bond market. 50 in the german tenye
More rate hikes this year . Amazon ascends. The stock topped 1000 a share in the u. S. Yesterday but how much more room do stocks have to run with the record rally . We are half an hour away from the european open, from the open of cash trade. Take a look at where futures are trading right now. We are seeing gains for most european indexes, a little bit of a loss for dax futures but the futurese in action. We have not seen the asian news carry through yet as far as Index Futures go. Theo see it if you click on gmm screen, you can see in the forex, the renminbi, the yuan getting a big move. Anytime you have a black oxen the middle of one of the panels on a gmm screen that means youre seeing a move that is more than three standard deviations away from the 30 day average. You see it here in the renminbi on and off shore if we take that and and pull out the bonds commodities, youre going to see china highlighted again here as far as the move with the sovereign bonds, the fiveyear dropping
Back out live, essex street off folsom is blocked. If you are going to the bay bridge, you have to find a different route. A firefighter said that they are going to assess the safety of that scaffolding and once they find out it is safe they will reopen these roads hopefully that can be soon. Reporting live in San Francisco, cate caugiran, cbs 5. An onramp to the bay bridge is closed not making many morning commuters happy. No. Not at all. If you are trying to access the lower deck of the bay bridge its blocked off because of the accident. Use 1st instead. The good news its the noncommute direction so hopefully traffic wont be too busy on the lower deck of the bay bridge at the skyway. We are taking a live look at the area there off the freeway. Traffic extra volume on that westbound side coming off the upper deck of the bay bridge. No metering lights though as you work your way towards the toll plaza. Elsewhere, if you are trying to take bart or ace, everything is right on time. Caltr
A lot of Economic Data out this morning, jobless claims coming in better than expected. Core ppi in line with consensus. Retail sales light. As for the picture in europe, take a look there. Really following the cues of the u. S. Markets this morning. Our road map today starts with the fed announcing a new round of stimulus as chairman ber bernanke warps the fiscal cliff is hurting growth. House Speaker John Boehner expected to talk on the cliff talks 11 a. M. Eastern time. Told you this week, of course, they were talking actively, now, Sprint Nextel offering to purchase the other half of clearwire it doesnt own. Surges of best buy surging on reports that the founder is on the verge of making a formal takeover bid. And google maps has found its way back into apples operating system. Of course, we have to start off with the markets. Dows fiveday winning streak has been snapped, despite the fed announcing a new round of stimulus. Chairman ber bernanke say worries about the fiscal cliff ar
His case. Here we are at the eleventh hour, and the president still isnt serious about dealing with this issue right here. Its this issue spending. Reporter the president left his spokesman to respond that republicans were pushing a plan of fantasy economics that raised more revenues while also cutting taxes on the wealthy. What spending cuts have the republicans put forward . The proposal that weve seen is a twopage letter, and the much discussed second proposal is less than half a page. There is no specificity behind what the republicans have put forward. Reporter right now, the risk is rising that we will avoid the fiscal cliff, but end up with what some call a worst case outcome. We get some sort of hoaky deal thats put together with gimmicks and baseline adjustments and all that stuff. They get by the fiscal cliff without much damage. Wall street breathes a sigh of relief, but weve done nothing for the longer term debttogdp ratio. Worst of all, most of what they do will take effec