It is almost jarring. Back monday. Alongside lisa abramowicz, im jonathan ferro. Tom actually dropped me a message this morning at about 4 00 a. M. , looking at the price action and this rotation we have seen. I think its got everyones attention. Weve had a fake after head fake. Is it real this time around . Lisa every investor we speak to says buy any dip. Buy the big tex stocks on any dip whatsoever the big tech stocks on any dip whatsoever. Now people are going back into them. You have to wonder what it would take to make people truly believe in the cyclical story. It has to come from the data. Data just isnt there. Jonathan i think you have to get a lift in treasury yields. That takes Economic Data and real improvement. That is where thanks stalled in early june. Lisa i will also say the reason why tom keene was messaging you at 4 00 a. M. Is because he doesnt want to actually move up on floor. If i had to move, i would also be procrastinating. Jonathan are you joking about this .
Enough clarity on the economy to justify restarting payouts yet. That decision is not yet final. Global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. It is 1 00 in new york and 1 00 a. M. In hong kong. Welcome to bloomberg markets. I will be speaking with bill ackman. We will discuss the debut of his new Blank Check Company which raised 4 billion in its initial offering. He will weigh in on what kinds of companies he wants to target with the money and other investments. First, lets look at the markets. We are higher. The nasdaq has erased all of its gains. 25 . P 500 is up mark forck at the 70 the you in the. With heating up today expulsion of the envoy from china. I want to point to the fact that we will be talking about in a moment and that is the Blank Check Company that is trading up an ipo today. The expectation was to raise 4 billion and we will be talking
Coronavirus cases top 12 million. Vice president pence says schools should reopen. Raphael bostic warrants about the hit to Consumer Sentiment. Stock market frenzy pushes the shanghai composite to its highest level since 2008. Thats after mega cap tech took the nasdaq to another record overnight in the u. S. Recovervenue begins to from the pandemic fuel slowdown as your europes Technology Company sees a bounceback and Software Deals throughout asia. Just under one hour away from the start of cash equity trading in europe. Lets take a look at where futures are pointing us right now. Ftse futures up about. 6 . Take a look at u. S. Futures. They have been down though only slightly. Anna, what have you got . Anna lets have a look at breaking news. Numbers coming out from rollsroyce. The engineering business, the engine maker here in the u. K. Giving us details for Free Cash Flow and cost medication action. They themselves are taking it. One billion pounds for cost mitigation action for 202
Im Francine Lacqua. The focus is on the markets. There was the rally we talked about, now a bit of a correction. Certainly it started in the u. S. If you look at u. S. Futures, they are gaining. European stocks are pretty much flat. There are much more concerns, which led to the selloff about the second wave of infections, but also the prospect of a protracted american recovery that seems to be easing treasuries. The other things i wanted to show you, because there is u. K. E. U. Negotiations on brexit, but also the u. K. Economy shrinking a record 20. 4 in april as businesses and workers reeled under lockdown. You can see pound 126. 1 he five. 126. 125. Ave experts will have expert data analysis. Heres dani burger. Dani the Global Economy is recovering slower thanvw expectd and will bear lingering scars from the coronavirus pandemic. Thats according to the International Monetary fund. The imf is set to release its growth projections june 24 and they are likely to be worse than the 3 c
Are right about the Economic Data. This is the point where it is beginning to click in nation to nation, and we are seeing some grim data. I look at the eto screen for the United States later this week, and those are numbers. We l points that where that we have never seen before. Two year yield continues to grind this morning. Francine we also look at renminbi, given what President Trump said about chinese tariffs yesterday. Lets get to first word news with viviana hurtado. Viviana as many as 100,000 americans could die from the new coronavirus, this death toll update coming from donald trump. He said he hopes deaths would total less than 60,000. So far more than 67,000 americans have died. President trump accuses china of trying to cover up the coronavirus outbreak. He promises the u. S. Government would release a conclusive report on the pandemics chinese origins. He also says imposing tariffs on chinese imports would the ultimate punishment and an explosive Associated Press report s