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
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
Buying for a total of 664 delegates in the three states. Iran is stepping up the pressure on its citizens to stay home and avoid unnecessary travel. Iranian state tv is morning millions could die if the public he is ignoring health guidance. The morning came hours after hardline shiite faithfuls pushed their way into the courtyards of two major shrines that had been closed over fears of the virus. Iran has had more than 16,000 cases of coronavirus, and nearly 1000 have died. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Shery live from bloomberg World Headquarters in new york, im shery ahn. Live in toronto, im Jon Erlichman. Welcome to bloomberg markets. We are joined by our bloomberg and Bnn Bloomberg audiences. Shery here are the top stories we are following from around the world. U. S. Stocks rebound from the biggest route since 1987, as the government s
Prime minister Boris Johnson is threatening to walk away from the negotiations is not enough progress is made within four months. In india, the death toll from a ride between hindus and muslims has climbed to 46. The violence began over a disputed new citizenship law. In addition to those killed, hundreds were injured, and homes, shops, and mosques were set on fire. Apart from a single tweet after the Prime Minister has been publicly silent on the violence. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Vonnie it is 1 00 in new york, 6 00 in london, 2 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the top stories on the bloomberg and around the world that we are following. Stocks surging, policymakers gaining confidence that they will act to offset the coronavirus impact. The rall
I want to look in my terminal here. There has been a baritone going tone going on. Either hedging or protecting against some of that downside as you get to puts for every call. Some defensiveness creeping back into the market. That is an interesting chart. When he put into perspective of this s p 500 chart, it suggests those arising puts to call, it is more of a hedge than a bearish bets. The s p 500 up until not long ago has been stuck in a range. Earlier this year, broke out of the range then truly did so in october, even with the first down week in seven weeks, we are above that range. We have a rising 40 week moving average. We have a rising 200 week moving average. This is a bullish chart. It suggests more gains are ahead. I want to look at another list chart, biotech start. They have been unable. Index rose for the first time in six days, 5 in that time. It is broken up today to a new 52 week high. There is a ton of action under the surface, with drugmakers getting wins and losse