Global coronavirus cases top 2 million. Germany is set to start loosening the lockdown for next week, and President Trump will unveil guidelines to reopen today. European futures turned positive despite historic declines in retail and factory gauges, sinking stocks on wall street. Attention turns to todays jobless claims. Plus, wti crude at an 18 year low amid a record collapse in the u. S. Fuel demand. Washington is considering paying drillers to leave oil in the ground. Just under an hour away from the start of cash trading. Nymex crude still under 20 a barrel, but rising today. We see futures doing the same, regardless of where you look. European futures are up half a percent. On dax a percent futures, quarter percent on ftse futures. Dow jones, s p, and nasdaq many contracts all showing a little bit just the slightest 10th of a percent of a game today. Anna . Anna lets talk about the breaking news from european corporates. The travel and leisure sector in focus when it comes to the
Not even a one dollar increase dny. The fed out with its alphabet soup of programs. Index isays highyield barely visible, but has come down quite substantially if you yield to worst settings re. The lets get some insight on the markets. Banks set to kick off earnings season. We are joined by tom lee, Fundstrat Global Advisors managing partner and head of research. You are not one to shy away from a particular point of view. Tell us where you see the markets headed. I think the markets have absorbed an incredible amount of news and seem to move very quickly, but just as quickly as weeks, i3 over six think the vshaped rebound weve 2800. E saw last week that was a 20 retracement of that entire climb. If we look at the major declines of markets, once the market is able to absorb or recover half of those losses, it is often a good sign that the market is shifting in favor of buyers. So i am kind of constructive. I think youve got to be buying this dip, but the focus is going to shift away f
Stories. We begin with the elections in taiwan. The president won a landslide majority, seen as a rejection of beijings push for one country, two systems. Joining me from taipei is stephen engle. Walk us through the significance of the vote over the weekend. Stephen it was quite significant. Now that she has that landslide victory and the mandate for another four years, theres three big questions. How will china handle another four years of a thorn in their side, the policies of taiwan and her proindependence minded policies that really resonated with the electorate . More than 8 million votes, a record here in taiwan. The hong kong protests really resonated with the electorate, of ahat led to a rebuffing push for closer economic ties. The question is what is the future of the Opposition Party that got routed . Theyve lost four of the last six president ial elections, and they need a you voice for the longer eat for the younger electorate. Finally, the economy. Tot also propelled tsai
500 infotech index up 48 , and the energy index was the least best performer. It still was up, though, which tells you how much these markets were looking for good news. The second best performer, Consumer Discretionary in the s p 500. That includes home depot to amazon, ebay, even general motors, so really across the board, it was a good year. For more on the markets more broadly, we are joined by ing head ofvey, global debt and rate strategy. We widened the curve with a bit of steepening going on. To what do you attribute that . Been a really interesting move. We were inverted six months ago. Happened is the fed has cut 75 basis points. Theyve injected a mountain of liquidity into the system, and theres been a real change in sentiment in the sense that six months ago, we were genuinely concerned about a recession in the u. S. Next year. Have beenerns significantly downsized. Theres still trimming this uncertainty, and we so have a very flat curve. If you look at the twostens, it is n
Expecting 8. 6 and were getting 17. 7 . Those numbers getting close to the new years chinese holiday. Maybe there is a seasonal effect on these numbers. Rishaad these are good numbers, 17 . Lets have a look. We will have a look at what is going on with dollar numbers. Lets wait for that. Exports, in dollar terms. Do not have the dollar number yet. Nikkei up 0. 8 . At 29,000. Asx moving tohe the upside. Front andd the yuan center. 110 since may 24 or Something Like that. Getting more and more strong. 6. 87 . More strength coming through with the yuan. That could be down to what we are seeing with export, import and trade numbers. Yvonne these numbers when it comes to 2019, exports rising 5 from a year ago. Imports rising 1. 6 . The trade balance coming to 2. 92 billion renminbi. It seemshole year, things were looking better and not as bad as forecasted. Still in the green. David people would say it is backward looking data, but when you look at the trend, things are getting better. That