Consolidation coming uber reportedly talking about buying an industry rival more here on cnbc. Good morning, good afternoon, good evening where wherever in the world you may be watching. Thank you for joining us on this last trading day of the quarter frmt looking at the very early trade. They are down slightly 120 points to the dow. The nasdaq with a higher inflied over weaning we could see a reversal. Blue chips look to erase the selloff surging nearly 600 points that surge to put s p and the dow in a win column for june major averages on track to extend the track for three on the run of the quarter, what a run it has been. On track to performances since the First Quarter since 1998 on track to cap its gain since 1991 dont leave out the small caps the russell 2000 since paula abduls rush rush was on top of the charts. In the quarter, oil is up 21 . This morning, shell saying it will writedown more than 22 billion in assets. Finally, dont forget about gold you love gold. Back at its h
Good morning, everyone. This is bloomberg surveillance. I am francine la am francine lan london. We have to get to the news for not only eg markets but corporate rates announcing changes, also something that may help with the sickness when it comes to covid19. U. S. Equity futures also higher. Are looking ats coronavirus cases and focusing on monetary stimulus as well. One thing i want to show you is thatorth korean yuan, currency is no longer trading, but we did see a lot of withility this morning, crude oil mapping gains. We will have look at the markets, but first, lets get to the bloomberg first word news in london with dani burger. Hi, danani burger. Hi, dani. Dani good morning, francine. The u. S. Economy has a way to go, according to chairman jay powell. The economy is likely to see a period of significant improvement, but it will probably leave the labor market well short of levels seen before the pandemic. Chair powell the first days of the shutdown, and we have seen what that
Bring you insider insight on the decision and what lies ahead for the u. S. Central bank clutched at the Federal Reserve has propped up markets in the u. S. It is posed an interesting issue for a major debt holder china and later the race is on for the head of the World Trade Organization and the European Union is weighing in we bring you the latest on the run with a packed show today so lets dive right in. And we leave the program with the latest policy update from the Federal Reserves federal open Market Committee as expected fed chair Jerome Powell announce Interest Rates will hold near 0 through 2022 but the real question has been what action will the fed take moving forward. Since march weve been purchasing sizable quantities of treasury and Agency Mortgage backed securities you know to support the smooth functioning of these markets which are vital to the flow of credit in the economy. And our ongoing purchases have helped to restore the Market Conditions and have fostered more a
It is posed an interesting issue for a major debt holder china and later the race is on for the head of the World Trade Organization and the European Union is weighing in we bring you the latest on the run with a packed show today so lets dive right in. And we leave the program with the latest policy update from the Federal Reserves federal open Market Committee as expected fed chair Jerome Powell and mts Interest Rates will hold near 0 through 2022 but the real question has been what action will the fed take moving forward. Since march weve been purchasing sizable quantities of treasury and Agency Mortgage backed securities you know or to support the smooth functioning of these markets which are vital to the flow of credit in the economy. Our ongoing purchases have helped to restore the Market Conditions and have fostered more accommodative financial conditions as market functioning has improved since the strains experienced in march we have gradually reduced the pace of these purchas
Spread have induced a sharp decline in Economic Activity and a surge in job losses indicators of spending and production plummeted in april and a decline in real g. D. P. In the Current Quarter is likely to be the most severe on record. Even after the unexpectedly positive may employment report youre only 20000000. 00 jobs have been lost on net since february and the Unemployment Rate has risen about 10 Percentage Points to 13. 3 percent. The u. S. Central bank says it expects g. D. P. To contract by 6. 5 percent in 2020 but doesnt this big growth of 5 percent in 2021 and 3. 5 percent in 2022 u. S. Equities had bounced back after the decision but fell quickly with the dow dropping by more than 200 points however the tech heavy nasdaq continued its record run on wednesday above 10000 points for more on all of this lets bring in bill bus cohost christine and c. E. O. Of cool intelligence and former fed insider daniel de martino both then i want to start with you here what are the latest