Gene munster is gearing up for both of the calls. We kick things off with apple which is now negative after a brief pop after the release and josh lipton spoke with tim cook. Josh, whats the latest . Melissa, one question i had for tim cook is what hes seeing in china obviously, so important for apple as a key link in that cups supply chain and also as an important end market. I asked him what his iphone demand looked like in china and whether you can extrapolate for that and china is the leading indicator for possibly europe and the u. S. And cook telling cnbc there is a significant, steep falloff, and that began to recover some in march and weve seen further recovery in april and it leaves room for optimism. Its hard to tell thats a leading indicator and there are differences and the u. S. Has had a bold Stimulus Program and i think that will clearly help and im optimistic of the pace of the recovery in the United States i asked him about the work from home trend and so many millions
We will hear from Large Companies including four dow components, 3m, caterpillar, merck and pfizer, we have tall numbers coming out for you. Markets this morning look like this. Investors looking to add onto yesterdays rally, dow futures up 135 points and nasdaq futures higher by 113. Markets rallying as lockdowns are ease ago cross the country and new round of stimulus goes into action. Plus changing face of travel, jetblue making masks and limiting seating, mornings with maria is live right now. Dax index higher by 205, almost 2 . The u. S. Central bank would ease Business Loan term as it expects emergency Credit Demand to surge. In asia overnight markets were mixedment take a look at the numbers in asia. You have some strength in hong kong, up one and a quarter percent. The others negative. The kospi fractionally higher on the fraction. Oil sliding this morning. Another selloff on the price of oil this morning. Take a look where we stand, another decline of 5 sitting at 12. 13 a bar
Spoke to chairman kevin brady at an event here in washington he appeared to had. Directly confirm that, that thats one idea that they want to get to progrowth visions in the tax code as soon as possible now, the reason why lawmakers would even consider phasing in the corporate rate reduction is because they are looking for money. They have only got a 1. 5 trillion tax cut that they can work with, and they have about 4 trillion or 5 trillion worth of a wish list so they really need to find ways to raise that revenue and theres a potential of phasing in the Corporate Tax rate it will still get you the Economic Growth that they want to see, but perhaps be less revenue and be less costly than going to that 20 rate right away guys, back over to you. Shows you how difficult this process is the conversations over the state and local deductions and and now when exactly the Corporate Tax, which is one of the hallmarks of the selling points of the president s plan, when haul this will take effec
Like to look not just at the ten kwlooer. 2. 629. Japan, france 1. 76, italy 2. 9 and spain 2. 63 to put that in perspective as we look at our tenyear note. For europe, of course, many of which ive mentioned, it is decidedly negative there as well this morning. It was a relatively quiet night. Stocks in asia finished the day more or less mixed. Europe is in the red across the board. News pretty quiet, slow on the macro front. Although there were a number of headlines perhaps impacting things over there. Lets get back over here and start with our road map and it starts with amazon. Some bare knuckle negotiating tactics, its more than books. Why you cant preorder the lego movie on amazon. Com this morning. And whats at stake for time warner. Fresh highs, of course, have been set for the dow, but as you saw futures are sharply lower this morning eric cantor defeat perhaps weighing on the market . We will discuss that. Overseas profits getting attention. Overseas europe investigating tax p
Profits at ubs stronger than analysts have been expecting. Analysts paying attention to questions hanging over the bank. Ubs has closed u. S. Probes into its dark pool alternative trading system. The companies cfo will join us live at 7 00 a. M. Eastern time. Meantime, bp posting a big jump in its quarterly profits driven by Strong Production numbers. However, the oil giant is warning further western sanctions on russia might hurt its business there. Bp makes about a third of its crude oil output in russia. It is the single largest Foreign Investors in that country for its nearly 20 stake in state oil companies. And eu leaders are meeting to debate economic sanctions against russia. A new list of putin associations and businesses that will face tougher measures is expected tomorrow. Lets talk about a bit of other corporate news. U. S. Investors are knew suing barclays. The attorney general accused the bank of lying to customers regarding its electronic trading platform. The investor ar