What was earlier in the day in the labor market data. 5. 5 million is well above where we were pretty covid. Continuing claims still elevated above where they were a year ago , putting a dampener on the recent equity rallies we have been seeing in the dollar, part of a broader move across anancial markets to price in brighter economic prospect for 2021. Fromased interest republicans, raising a chance for a deal by the end of the year. Underneath it all, is the job weket losing steam and can wait for stimulus once again . Joe we will learn more about the job market tomorrow and talk about it more later in the show, but in the meantime maybe, maybe. The stimulus is going to happen. There seems to be some convergence among a handful of players around the deal, somewhere in the range of 900 billion, gop senators picking it up. Whats unclear is whether mcconnell was into it, the white house was into it. The Lindsey Graham thing today, he thought the white house would get there but that is a
We have a few updates for you all at the top this morning. First today the president is signing three executive orders to rebuild and strengthen our immigration system. These actions are centered on the basic premise that our country is safer, stronger and more prosperous with a fair, safe and orderly immigration system. Todays actions do a number of things. The First Executive order creates a task force chaired by the secretary of Homeland Security to reunify families which will work across government to find parents and children separated by the Prior Administration. The second executive order develops a strategy to address the root causes of migration across our borders and creates a humane asylum system, including directing dhs to take steps to end the Migrant Protection Protocol Program which led to a humanitarian crisis in northern mexico. It ensures that our system operates fairly and efficiently by instructing agencies to review the related policies. Ma been on the Briefing Cal
The consumer staples, bottom fishing on companies and may think have gotten oversold. Companies could benefit from the work at Home Movement which is encapsulating this entire globe. Walgreens, have got walmart and costco among the gainers in the staples space. Theee another winner in dollar. Everyone is flocking to the dollar, the dollar index rising for a seventh straight day, claiming to an alltime high. The biggest loser against the dollar among the g10 currencies appears to be the pound. Romaine yeah. Scarlet lets look at todays market action. We will bring in our live reporter and one of the new voices. What have you been watching . Reporter oil markets were catching my eye. Wti, 14 in in brent. What is moving this action . It is a risk off water market story. Pressure oil as well and youre seeing all of this action move off of the official order from the Energy Ministry to saudi aramco to 12. 3 Million Barrels keep but as for the next coming month. That is how the indication is
Everyone watching parts of the economy shut down all at the same time is like nothing we have ever seen. Superlatives to compare past plunges, but everyone is trying to compare it to what experiences is this similar to. I have heard from people today, and no one had some obvious analogy, whether the cry natural whether the financial crisis, the wake of 9 11. Everyone of these past events was in some way a reminder of this, and that is what makes this so extraordinary. Scarlet and economic damages going to get worse. We heard from france that they are going to shut down all the schools and universities. New york is banning public gatherings a more than 500 people. It is only Getting Started in terms of the realworld effects. Romaine a lot of emotion, a lot of intangible things. Lets get back to some tangibles. Taylor riggs is going to look a little deeper. Taylor let me try to keep it tangible for you. I have three good charts. The first, lets just recap the day, because it has been a l
Banks and Energy Companies leading. The tenure u. S. Yield back up to 50 basis points. It was below that all morning. Nymex crude down about 20 . As you know, saudi and russia in a bit of a war here. 33. 22 is the price. The dollar and Oil Currencies are mostly trading with big ranges right now. Lets get to our second board to see more action. You could look anywhere today and see a lot of action. Highyield, that Circuit Breaker was triggered as well. We are down about 5 right now. Dollaryen at 1. 0240. All of thelooking at markets throughout the next hour. Guy the best way of doing that is to take a look at the gmm, the function on your bloomberg which will give you an idea of what is happening around the world. The brazilian markets halted, limit down. The ftse is off by 7. 25 . The dax down by 7. 1 . The s p now down by 5. 88 . The russian ruble, oil prices the center of this story, down by nearly 9 . Brazilian real off by nearly 3 . The euro catching a bid. The dollar on offer agai