Tom good morning, everyone. An exceptionally busy day here at bloomberg surveillance. Lots to talk about on the news front. Stimulus in washington or nonstimulus, the breaking news on china, and markets as well. The dollar moments ago breaks down to new week this of dxy new weakness of dxy. An ever weaker dollar index. That will be one of our themes across the hour. Our Kevin Cirilli reports a deeply divided reports on deeply divided republicans, and there are fire trucks in houston. Jonathan they are united on one thing in washington, and it is china. The consulate in houston shutting down after the u. S. Demand. We have looking up 70 times to that headline woken up so many times to that headline, so we have woken up so many times to that headline, u. S. China tensions. Gold, 1863 note an ounce. On a weekly basis, gold has had a record high. Go to the dynamics you have seen in highyield and ig. Lisa if you take a look at highyield bond spreads today, you can see to have shrunk dramati
Monday. Alls p 500, nasdaq, and dow solidly higher. Sectors tell you investors really do want in on stock s a bit of a reli a bit of a relief. That comes in what is a bear market. You were mentioning there is hope around health care treatments for the coronavirus tragedy but there is still uncertainty about the economy. We are seeing the pushpull but the bulls are winning. We look at a three chart of oil. We are going to see a sharp decline. Crude is flirting with 20 a barrel as the follow from the coronavirus is really going to eat into Global Demand. That could be a longerterm concern for stock because oil is less liquid. Tell on whatier the Global Economic picture could be. Another reason to think the rally for stocks could be a rebound. We will be watching but hoping the indexes will continue. Higher, microsoft up by 5 . They have seen a spike in cloud views on working from home. We also have apple popping higher and look at j j. Sharply higher since 2008. They have announced a lea
France are still raging on r. G. P. Correspondent Charlotte Dubinsky brings us the latest from paris on the impact the movement has had on the nations economy and later facebook is yet again back on the fire as a social media giant has found itself in federal court for anticompetitive practices r. T. Correspondents and months as they are that is standing by to take a deeper dive into the controversy and what maybe it had by the embattled tech company. Today so lets get to it. Official figures where china shows the country expanded by 6 point one percent and 29000 year over year which is the lowest figure and 29 years last year china has struggled with weak domestic demand and suffered impacts from the bitter trade war with the u. S. The 6 point one percent is down from its historical double digit growth however policymakers maintain that this is within the governments target range policymakers have for many years been trying to gradually step down expectations and slow the unsustainabl
A solid no with industrial output investments and retail sales all rising more than expected however chinas annual aluminum production fell for the 1st time in 10 years and unsurprisingly chinas pork output plunged to a 16 year low as the african swine fever killed millions of pigs down 21 percent imports of pig pork surge as china is also the worlds biggest pork consumer which in turn caused chinas food prices to soar to an 8 year high. This is fascinating because weve seen actually World Markets react in a positive nature due to these numbers despite the g. D. P. Of china going down now we kind of expected this and this was all because we couldnt maintain those double digit numbers correct correct its because it is now a stable number and this is actually exactly in line with what the government policymakers they predicted at the beginning of the year so you could actually say that they have just met expectations and this was very positive because for the entire year people were very
Policymakers maintain that this is within the governments target range policymakers have for many years been trying to gradually step down expectations and slow the unsustainable growth that has polluted the environment and lead to an explosion in debt 29000. 00 ended on a solid no with industrial output investments and retail sales all rising more than expected however chinas annual aluminum production fell for the 1st time in 10 years and unsurprisingly chinas pork output plunged to a 16 year low as the african swine fever killed millions of pigs down 21 percent imports of pig pork surge as china is also the worlds biggest pork consumer which in turn caused chinas food prices to soar to an 8 year high. This is fascinating because weve seen actually World Markets react in a positive nature due to these numbers despite the g. D. P. Of china going down now we kind of expected this and this was all because we couldnt maintain those double. Numbers correct correct its because it is now a