Sharp snapback connectivity. It is a phase four package necessary . I think it is. The economy can get by without it until the election. Will bringnistration forward fiscal stimulus plans. I think we can make it to there. It is necessary as long as we get it in the next 12 two quarters, i think the recovery will be ok. In the meantime things are a delay ing, and ongoing negotiations does not help things. I think it hurts confidence and slows down economic momentum and prevents a quicker recovery of the economy. Back and forthd among three parties. The president of the United States, the Senate Republicans come in nancy pelosi. Hard to know where we are going. How big thef packages, there is a sense of whether it needs to be targeted or general. Can we if it does not address broad state assistance . Michael i think getting anything is better than getting nothing, for sure. Even if it were targeted on specific sectors like airline and maybe Small Business, that is better than doing nothi
Disadvantage to the company overall. People dont forget. Cheryl thats the problem. People will not forget that. Youre advertising during the nfl draft. Youre going to get a can because a guy decides to be a girl. What did you actually do . That turns people off as well. Cheryl get back to business, businesses. Chris and krisha, stay right there. The next hour of mornings with maria starts right now. Cheryl and its time for the word on wall street, top investors watching your money. Joining me now, michael lee strategy founder, michael lee, and market strategist, Katherine Rooney vera. Mike, want to start with you, the big news this morning obviously on a monday, regulators just a couple hours ago seizing First Republic bank, agreeing to sell to jp morgan. Jp morgan will assume all of First Republics deposits and buy most of its assets. First republic is the second largest failure in u. S. History as far as banks go. The stock halted in the premarket, down almost 46 . I spoke to Odeon C
Still when it comes to wage gains. Annabelle thats right. We saw a real wages down 2. 5 from a year earlier in march. That was actually the deepest drop we have seen in four months. The running streak of declines is now 24 months. Certainly there has been a real question for japanese government officials. When they start to see inflation being driven by the demandside or would it still be from the supply side . This is perhaps the numbers that the boj would not want to see at this point in time. But that focus on the back of the wage numbers coming into the boj summary of opinions. A lot of different lines dropping out of this. But this need to raise rates appropriately and at the right time and the need to deepen talks on rate hike timing. Just some of the headlines dropping from that. Also they are saying it is vital to cut bond buying and supply dynamics. Here you have that Market Reaction so far this a slight bit of strength coming into the japanese yen. Nikkei 225 online this morn
Japanese Prime Minister for the first time in seven weeks, its actually an unusually short periods between talks for the two. Tells us perhaps its a bit of a shifting approach for the boj in terms of the yen direction and we could perhaps get the boj joining Government Officials in verbal intervention. This we know they are closely attuned to the economic impacts. Automaker stoxx, for instance, traditionally a key beneficiary of the weaker yen are now starting to see the negatives. Today we have the nikkei coming on a bit under pressure. Quite a rangebound day on wall street. So perhaps we are unlikely to see any major moves, especially ahead of key earnings from the likes of toyota. Lets switch to korea now. At the start of the day here, that outlook for korea is under pressure. But look at that big trading debut at the bottom, that is hd hyundai Marine Solution. Its and Ship Repair Company. It just started trading this morning in seoul after raising 500 550 million in its ipo, the bi
Recouping that april route. This is thanks to fed optimism, as well as pretty Solid Earnings out of the u. S. As we saw overnight, u. S. Stock string of gains has stalled. Asia stocks, a struggle for direction and the clients are being led by japan where we are seeing strength is in the u. S. Dollar. Thats putting pressure on u. S. Currencies. Put the board. I wanted to show you some of the stocks we have been putting it keeping this is a repair firm in south korea, and it made its trading debut today and a splash. 45 gain at one point. This really helps to cement south koreas presented position as one of asias busiest venues for fundraising, especially after a slew of reforms to unlock shareholder value. The other stock we have been watching, nintendo, we got earnings in a week outlook slumping by the most since february. But in general, tech shares in asia have been under pressure today as their u. S. Counterparts struggle for gains overnight. Thats what the board because as we searc