Resilience in the hong sang this morning. The u. S. House of representatives passes a fresh china sanctions bill. Welcome to daybreak europe. We could use the word resilient to talk about the markets right now. Second day of the new quarter and the second half of the year. We did the Risk Appetite pick up a little bit yesterday after a slow start. The data helping a little bit. What is driving the positive sentiment overnight in asia but also in terms of european and u. S. Futures today is an early trial of an experiment to shot from pfizer showing that the shot was safe, prompting patients to produce antibodies. Thats giving a lift to the markets. Equity markets are moving on that. The 10 year yield this study. Not a lot of movement on the headline level on the bloomberg dollar index. Yesterday withn wti going above 40 a barrel on a u. S. Stockpile drawdown. U. S. Stocks climbed after a double dose of optimism from positive Vaccine Developments and betterthanexpected manufacturing dat
Spread widened out. Thursday in terms of the eu, and theres going to be clashes about whether or not we see joint debt issuance. Vonnie we will speak to maria tadeo about that in just a few minutes. In the u. S. , we are seeing equities dragged lower by oil, down almost 40 at one point, and back there again now. We are trading at 10. 85 for a barrel of wti. It is really insane levels of trading. The contract expires tomorrow. Vix trading at about 40. One stock to point out, united airlines. Obviously, the airlines having a terrible time of it. It is talking about topol revenue in the First Quarter about total revenue in the First Quarter down 17 . It will get 5 billion through the payroll protection programs, but it is just one of the airlines having a hard time. Right now, homebuilders are the worst performers in the s p 500. Guy lets get back to that board we were showing you at the top of the program, the price of debbie ti crude of wti crude trading 10 a barrel. That is the lowest
Biggest gain ever when it comes to wti in terms of percentage. We are losing steam there. We are not seeing a whole lot of movement here today. The offshore is slightly weaker. It does not seem like theres a whole lot of patterns you can actually string together here now that we are excluding japan. Ending the week back to where we started. Tom weve had another downgrade, another cut to forecast growth. Malaysia cutting its 2020 gdp growth estimates to 2 . A contraction of 2 . They are cutting their estimate to 2 on the coronavirus pandemic. Morgan stanley have upgraded malaysian equities. We will speak to Jonathan Gardner later in the show. We can has kim about the applications of that. Another grant outlook for malaysia. Worldwide cases of the coronavirus have reached more than one million infections and counting. Our chief north asia correspondent joins us on the line from hong kong. This is indeed a bleak milestone. Stephen thats right. Total673 is the latest were getting from the
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
A fierce backlash from the gun Owners Community which was insisting on the right of selfdefense against escalating criminality against this background algeria 100. 00 series and steve chow who investigate the black market in gangs in the philippines to find out whether the new laws were making any difference here is the film stray bullets. Every 9 minutes someone in the philippines makes a deal to buy a gun. According to Police Statistics within half an hour of that purchase. A crime is committed. When someone has murders. In the philippines the murder rate per capita involving firearms is 3 times higher than the United States and Steve Charland this episode a one on one east we look at a new law the government says to put in. If so critics ask why havent the killing stopped. On any given weekend across the philippines youll find shooting ranges packed with gun lovers through makeshift mazes they battled to win the weekends title of the fastest draw. The almost religious devotion to sh