The backdrop continues to be the coronavirus. New york city finally gets a chance to reopen today. I am waiting to hear the construction outside of my apartment. It has been three months under that stayathome order in new york. A live shot of Herald Square and the area around the empire state building. Construction, add, manufacturing, wholesale trade, and Retail Stores can offer curbside or instore pickup. A former new york state Lieutenant Governor and current member of mayor bill de blasios Fair Recovery Task force. There is really no other person. E really want to talk to today this comes in contrast to the protests we saw. How did the protests affect phase one of reopening . Dick one cannot be certain. I think the Biggest Issue is the revenue loss that the city will suffer as a result of sales taxes and property taxes and income taxes. Its impossible to measure but it is way beyond the capacity fiscally of the city or state to make up for that lost revenue. A function ofs how many
France and germany and others remove travel receptions spur tourismu. To and britains nonessential shops opened today as well. Stocks fall on fears of a wave of rhinovirus infection. Over 20 u. S. States see a pickup. Tokyo sees the most cases in over five weeks. Beijing reports another outbreak. Plus, bloomberg learns of an internal plot at nissan to take months beforeown his arrest in japan. The information comes to light and is due to face a trial in tokyo. Just under one hour away from the start of cash equity trading. Lets take a look at how far down futures have fallen, right now looking at 2. 5 drop on the stoxx 50. The benchmark index. Futures down a little bit more than that. Teachersok at u. S. As well. S p 500 emini contracts approaching 3 losses. Nasdaq futures off. What does the gmm look like . Anna ill get to the gmm in just a moment. Pricel giant revising its assumptions and expecting to take a charge in the second quarter. They see a noncash impairment and the write off
Exceptionally good guests this hour, and we will begin with a moment. Haass in an extraordinary place we are in right now, waking up to the imagery of a darkened white house. The president choosing not to speak to the nation as wasnt dissipated last night. To the north across lafayette , a boarded hay adams. A fire in the historic st. Johns episcopal church, the church of the president s. Pew 54 is where they sit, although lincoln sat quietly in the back. The protestsct to in continental europe. Your thoughts on this file and we can. Jonathan i dont think anyone needs my personal thought, not from a journalist whos barely left his apartment in the last three months. I dont think theres much value protests in the europe in the United States. Theres a deep history in the United States. The plea unsettling to see the equity market emotionless against the backdrop of the weekend. Commentt uncomfortable beautifully, absolutely nails it. Alm iscomfortable c also in the fixed income space. It
Investors raise a glass to remy sending shares to the stop of the stoxx 600 it expects demand to bounce back in the second half of the year saudi arabia and russia reportedly reaching an agreement to extend the counts for another month but will still be held today. Lets kick off with fresh data crossing the wires. Weve got uk car registrations coming in for the month of may 89 lower year on year to just over 20,000 unities. We are looking at a picture of sterling versus a dollar recently trading coming off 60 basis points the auto sector selling off quick sharply. A few Different Reasons for that part of that the reversal for the trade come together in the last several sessions. Part is to do with the german stimulus package unveiled in the last 24 hours. Let me give you more detail. German stocks making autos the worst performing sector in europe after the package announced overnight failed to provide must feeding help. Providing a raft of measures including help for electric car buye
We did just get the closing bell on u. S. Equities, which have been trying to break free of the range they have been in for some time. 2971 is where we are ending the day on the s p 500 the nasdaq indices up 2 on the day. 2 . Russell 2000 gaining energy, financials, and Communication Services leading the charge. Twitter among those names. And along to Analog Devices also with an interesting rise. Royal caribbean loses a little ground. Scarlet i want to jump in with breaking news. The regulator of fannie mae and freddie mac has come out with a plan that calls for more than 200 billion in capital. The regulators proposing the mortgage giants be required to hold hundreds of billions of dollars in capital to guard against potential losses, and this could eventually have an impact on Mortgage Rates and the Trump Administrations efforts to basically free the companies from government control. We are keeping watch of this as are needed fors existing government control. Is ben still with us ma