The world. The nasdaq up 0. 9 . Gold continues to rally. 1733. 48 an ounce. Plenty of currencies are moving against the dollar. How are we doing in europe, guy . Guy we are up, being driven by the oil and gas sector once again. We are trading near session highs. The stoxx 600 up by around 0. 6 . Relatively muted volume today, and to be honest, the volatility , soting to come down again bear that in mind. We seen a lot of centralbank news over the last few minutes. Christine lagarde has been briefing eu leaders as they kick off their summit, their videoconference. She has been warning them that gdp may fall by 15 within the region as a result of the virus. That is largely backed up by some of the pmi data we saw earlier on, particularly very Weak Services numbers coming through for the eurozone. A littlearting to see bit of tightening in some of the spreads. Btpsbunds coming down a bit, so a little bit of outperformance for peripheral bonds, but other big move upside for brent. To circl
Delivered. Bonds are performing a bit better now, a tightening of the spread, 2004150 is where we are trading right now. In the u. S. We are seeing gains in spite of the initial jobless claims figure that put shivers down your spine. Stocks are just going the other direction. The s p 500, up 1. 4 . The nasdaq, running away with things once again today. All but three sectors in the s p are higher. You can see that there is definitely a risk. Belowoil is still well 18 per barrel. Gold is continuing to is the dollar, although it is off the highs of the session. The dollar, miss versus the other currencies and the euro right now, whether is not much change but you have currencies like the Canadian Dollar that are stronger today on the bounceback in oil. Guy . Lets get some more insight into what is happening with these markets. As we indicated, European Union leaders are holding that conference about delivering massive economic stimulus measures. The need for a positive outcome from the me
Few smiles and the magic kingdom. Disney suffers a coronavirus hit with seem parks shot, movie theaters closed, and sports on hold. Shery a quick check of the market. This after u. S. Stocks gained ground for a second day in the regular session. We have sentiment being boosted as more economies move towards easing lockdowns. Still, in the last hour of trading, there were some cautionary comments on said officials that cut gains in half. New zealand stock scanning. 8 . This would be a Third Session of gains. Therir rate. Rate. Ir we have the rba leave rates unchanged. We are looking forward to retail Sales Numbers very soon and we will see how all of that toilet paper hoarding that we saw in march is reflected in the numbers. Not Much Movement for the japanese at the moment. Tosident trump continues push the theory that the coronavirus originated and escaped from a lab inside wuhan but sources within the u. S. Intelligence Community Say the intelligence is less than definitive. That as
Welcome to the twilight of the index funds. I think thats the great untold torrey er t story. For years, lots of very smart people told us that index funds were the best, if not the only way to invest. Instead of trying to beat the market, they argue that you should just buy a cheap indecision fund that mirrors the s p 500. But sometimes trying to mirror the market is a bad strategy take the s p 500 you have to own so many havenots along with the haves during this pandemic its changed everything. That at best now, with the coronavirus, youre betting on mediocrity why would you want exposure to troubled Industries Like retail, oil and gas . I know the index fund orthodoxy will never truly be defeated because theres a kernel of truth in it. But man, in this environment, where you cant go out and spend money without fear, even if you just got a 1200 check from the government, youdont have to b a genius to know that the cruise lines are untouchable. But what about the winners, though, what
Of a job since mid march and Business Activity grinding to a halt around the world and finally, Energy Stocks are jumping on a rebound in oil prices by far the best performing on the s p 500, which is higher, wilfred, by about. 6 though off the highs of the day. Went briefly flat as well so improving for the last hour or so the dows up 0. 9 or 200 points. Coming up, well speak with former bp ceo, lord browne about the oil markets this week as crude sees another double digit move today plus Tiger Management president , Alex Robertson, will join us to talk about investing and how his company is helping to support new yorks front line workers. Zblncht mike is tracking the Market Action for us as always meg has the details on the possible setback for gileads coronavirus trials, which sent the market off its highs during the session as we mentioned along the hannah, from the ft, who cowrote the story that broke that news and kayla is covering the house vote on the next round o the stimulus,