Continent, really. Only the u. K. Was closed for their bank holiday. We had a massive rally yesterday, so the dax was up 300 17 points yesterday, up another 143 points today. Stocks overr german the past couple of trading sessions. The cable rate also shooting higher. Pounddollar right now at 1. 2358. Even with those gains in the currency, i will just tell you you still see the ftse up more than 1 . Typically they move in different directions. That shows you the power of this rally. Finally, a stock trading in shares. Tui they have one issue trading in frankfurt and another in london. A big tour guide and airline operator. They had been absolutely crushed in the pandemic, but over the last couple of days, a massive rally. Today they are up 56 as germany says it is going to reopen International Travel and prepare for something of a vacation season. Over 1 billion in market cap in this one trading session. Vonnie really pretty phenomenal. Lets bring in our next guest. Frances president E
Investors weighing a reaction that could further destabilize the Global Economy. President down to asias major market opens. These are our top stories trumpe for social media after his tweets are fact checked he says twitter and others are trying to silence conservative voices. Breaking news out of south korea. We are getting the Industrial Production numbers for the month of april and we are seeing a huge contraction month on month, a plunge of 6 . The expectation was for a decline of about half of that and this of course also is after gains in the previous month. Year on year, it is a contraction of 4. 5 percent. Again, really a much bigger contraction than expected. Hearing year, we are talking about the biggest contraction since the financial crisis. We have not seen such a big decline since 2009. In the month of april, and south korea, we have continued to see the restrictions over the coronavirus pandemic. Already, we are seeing a second wave of infections in south korea and talk
What is behind this a rally . Can it continue . Good morning, gentlemen. Paul, ill start with you. Valuations getting stretched here im a little bit worried about the valuations in tech, and ive been at this game a long, long time. Fundamentals are okay. Fundamentals might even be accelerating a tad from last year but when you take a look at the valuations of some of the marquee names that you mentioned in the teaser, particularly tesla and apple, im worried interesting okay joel, how about you . Given some of the names we just mentioned, in your coverage universe, what do you like the most at these levels good morning. Thanks for having me on. Obviously with tech you want to be a lot more selective and who the winners and losers are going to be. I think apple is to the upside, but 13 times to 24 times the span of 12 months is getting a little rich. I think the 5g hype could get a little ahead of itself, especially 5g as a utility is limited in the foreseeable future i look for names i
Fierce. About 90 miles east of daytona is where it sits right now after really devastating the bahamas. David i dont think we still understand the extent of it. It is really tragic what happened in the bahamas. Theres a lot of rain and water coming. The storm surge they are worried about up and down the coast. Alix in the markets we are paying attention to the broader political sphere. 8 10 upres up by by 0. 8 . The cable rate up over 1 . Yields in the u. S. Now up by three basis points. Commodities, buy everything but the u. S. Dollar. Time now for the global exchange. Joining us in hong kong is bloombergs chief north asia correspondent stephen engle. From outside westminster is bloombergs anna edwards, and from new york is bloombergs michael mckee. First we want to start with hong kong, where leader carrie lam announced the government will formerly will formally withdraw the extradition bill. M the government will fully withdraw the bill in order to relay consent. Alix can we say the
Will be an opportunityortunityor general publicl publ comment cos meeting afterg af closed sessiod therell be anll be anll be anlo comment on each discussion or action item policy agenda. Each comment is limited to two minutes. Please note that city policies along with federal, state and local law, prohibit discriminatory or harassing conduct against City Employees and others during Public Meetings and will not be tolerated. Moreover, Public Comment is permitted only on matters within the jurisdiction of this meeting body joining us president s of fine yes. Please call the first item. Thank you. I dont number three is closed session. Three a conference with Legal Counsel pending litigation. Right . And we will. We will need a roll call vote to invoke the Attorney Client privilege and enter into closed session for a conference with counsel. Okay, so, um. At this time, well be moving into closed session with Legal Counsel pending litigation before moving into closed session. We will take