The Commodity Currencies are doing well. The aussie is outperforming the u. S. Dollar. Brent crude now more than 35 a barrel, up by 8. 5 . Vonnie in the u. S. , a nice bounce this monday even as we head into the last half of may. It seemed like maybe there is some coming on, plenty of optimism. Including this new Moderna Vaccine going to trial phase. The nasdaq is up 2. 4 in the s p up 3 . All groups in the s p are higher. The biofarma index is the laggard, but still up 0. 8 . Below 29 right now, and one other asset to mention would be the offshore yuan much trading at 7. 123 five. A very distinct weakening as the rhetoric grants up again against china. Letst will be interest talk about what is happening in the european economy. We are awaiting a live feed from the german chancellor Angela Merkel and french president Emmanuel Macron, scheduled to speak to reporters this hour. This follows a videoconference between the two leaders. They are said to be discussing a coronaviruseuro recove
First week on the aflac chairman and ceo in a few minutes. We want to get the vaccine plan from the president , so lets look at the s p 500. It is now down 2 . 2 . It is on the heels of this News Conference being held at the administrations behest. The dollar index well above 100, and changed right now, and crude oil with a 29 handle in the u. S. Lets get a deeper dive into safe Market Action with taylor riggs. Taylor we want to start on tech stocks because there has been a few different actions that have been moving some of the chipmakers we are looking at. Otherwise noon as data came out overnight saying that there Second Quarter was going to see a 15 drop in revenue, much worse than the First Quarter. That goes against what we thought because we heard Companies Like apple saying they were starting to see demand turnaround. If you are seeing some suppliers like foxconn saying that is not the case, it is putting pressure on Companies Like apple. Intel and qualcomm are lower after the
Decline and that is a forwardlooking indicator on this, not so much tragic deaths but we like to focus on that is assigned to come to the process and we to go to the hospital and then you see what youre doing in the hospital in the most severe cases and ends up on a ventilator, and then sadly you die at that point but that is a logging part, if you see a downtrend in the number of people getting in to the hospital and encouraging and keeping an eye on it, the governor of new york is outlining other promising developments as well, we will get into that later in the show, minutes await the president signing off on the 484 billion Small Business stimulus measure, some are calling relief, whatever you want but it is going to be widely seen as an opening with more stimulus down the pipe, blake has more on all of the above. Hi, you see our colleagues lined up in the Briefing Room meaning they are still awaiting to go into the oval office, we expect the signing at some point later this hour,
Flat for 2020 as tech continues to lead the gains. Financials and utilities amongst the worst performers today coming up on todays show, we will speak exclusively with sap ceo Christian Klein about his companys efforts to develop a coronavirus Contact Tracing app and what hes hearing from customers about the state of local business and the earnings reports will come fast and furiously this afternoon highlighted by lyft, grub hub, tmobile and well speak with tmobile Ceo Mike Sievert ahead of his companys Conference Calls just after numbers cross. The big stories we are watching, mike santoli following the volatile trading action, Steve Liesman with a look at the economy and another sobering jobs number today, and deirdre bosa is covering uber and lyft mike, start us off the s p struggling to stay in this zone for the past few weeks. This is a oneyear march its flattened out since april is it resting, rolling over . Its a bit of a standoff i think people are saying right now its preserve
While signing the phase four relief package into law this afternoon will give another 310 billion to the ppp, the Small Business loan program, the president suggested that more help could be on the way in the form of government purchases. He suggested the oil and Airline Industry could be the beneficiary of a government buying product now at low prices for future use down the line. We could buy oil at a great price into the future, that gives them the infusion that they need and one of the ways we can help the airlines is by taking a very large discount, 50 off or maybe more. In dubai to three or four years of tickets and you infuse them with some cash. Connell at the Coronavirus Task force briefing, the president talked about the possibility that a disinfectant can be used to help internally combat covid19. Lysol came out this morning and urged that under no circumstance should our disinfectant products be ministered into the human body, the president today said the disinfectant shoul