Nikkei, last 30 minutes of trade. Final stretch of the morning session paid south korea is being dragged down. Currency markets. Sterling, cable, eurodollar, aussie, the sing dollar. 136 following this weeks mas decision and policy response. Fairly flat. We could see more action later tonight and into next week, when you have the likes of chinese gdp numbers coming out. Gyrations on the political scene, i would imagine. Lets go to your first word news and get you updated on the virus situation in europe with the u. K. And france facing tough virus restrictions as global infections are heading towards 40 million. Households indoors going under overnight curfew as they have a new wave of covid19. Daily infections hitting record in germany, italy, ireland, and spain. Reporting the most new cases since april. President trump is ramping up rift with Senior Republicans, saying he supports a bigger stimulus package. He is blaming democrats for delaying an agreement, but says he goes further t
Look at the s p 500 at 2978, a 55point gain and there is the nasdaq the outperformer yet again, almost 2. 25 , 200 points, 9387 the nasdaq, not all that far away from last februarys highs, which our headliner says this hour is going to happen this year and not just the nasdaq so lets welcome in fund strats tom lee. He is joining us via skype tom, welcome back. Nice to see you again. Thanks for having me. Big call. How are we going to get there this year, tom you say 3450 is happening . Yes, and i think what really drives our view is that companies in the midst of the shutdown arent standing still you know, theyre reengineering their operations, learning how to be digital, run with fewer employees and less real estate so in 2021, as we exit this pandemic, theyre going to generate higher earnings on a lower level of sales and that means implied better pes. And thats why we get into july, stocks will start discounting that and were looking for new high hi highs. Youre looking for a vshape
Reportres whipsaw as a coronavirus drug failed in a trial. Lets get to the market. After two weeks of strong gains in equities, we are seeing a little bit of weakness. Yesterday, we saw the s p 500 close flat. Those shares moved around in that gilead report. Weakness in the asian session. About 0. 6es down percent. Weakness in european futures as well. The 10 year treasury yield steady, the bloomberg dollar index not showing a lot of movement. The aussie and kiwi underperforming. That is reflecting the risk off appetite. The u. S. Jobless came down yesterday. Quite a bit of bad data in europe and the u. K. Oil, what a wild wide right it has been. 17, brent up 0. 5 4. 5 . The u. S. House of representatives has passed a 484 billion lead package. It will replenish funding for small businesses, hospitals, and virus testing. Trump will sign the legislation on noon friday. This comes as u. S. Cases rose at the slowest pace in three. Joining us from new york on very hard earned. Annemarie. Wh
Aviation. He said the coronavirus has changed the Airline Industry forever. We are getting breaking news across the bloomberg. We have westpac earnings and details with regard to the dividend policy. The first half including special, 2. 2 billion australian, net margin with regard to that decision on the interim dividend, differing a decision to be made deferr ing a decision to be made, looking at the impact of the coronavirus slowdown and the credit loss provisions as well. They will move smaller scale businesses into divisions so it looks like restructuring effort. The cash profit, 933 million. The decision to defer the policy. Looking at u. S. Futures dropping in the asian trade. Shery adding to declines we saw friday, on the back of abysmal economic data, not to mention profits earnings from u. S. Companies. Futures are falling more than 1 . Sincet saw the best month 1987. When it came to world stocks, it was a rally of 10 for the month of april. Oil declines, probably more than 3
Overshadowed by covert 19 Iraqs Parliament approves the new government led by me. But i got a medical call for courage and caution as germany prepares to reopen all shops and even restart top level football. On a drinking story out of venezuela where state television has broadcast video of a man it says is one of 2 u. S. Mercenaries captured after an alleged plot against president Nicolas Maduro they and others were detained after what moore and his government described as a failed Beach Landing the u. S. Government is denying any involvement the full story not interest. 2 former u. S. Soldiers who are part of what Dennis Willis has was a plan to overthrow precedent. They were part of a group of around 60 people that say they were hoping to help venezuelans regain freedom but the plan did not work out 8 of them were killed and at least 13 others detained when they tried to reach the venezuelan coast in a speedboat. On wednesday nicole at my little gave a press conference where he showe