The u. S. Recovery could drag on through 2021 as long as theres no second outbreak. There might take a vaccine for people to regain confidence. Speaking of that, as present a aims to get 3 million vaccine doses ready for the u. K. By september. But Boris Johnson warns that u. K. May not be free of the virus for some time to come. And the Trump Administration steps up its campaign to blame china for the coronavirus, with an aide suggesting beijing sent Airline Passengers around the world to spread the infection. Were just under an hour away from the start of cash equity trading in europe. Lets take a look at futures this morning. We had a bit of a mixed picture. And now you see big, strong gains in european futures, 1. 5 on dax futures, 1. 33 on ftse futures. If you look at u. S. Futures, you also see 1 gains, about, a little bit less for s p 500 and nasdaq futures, but just barely. And more than 1 on Dow Jones Industrial average futures. What you see on the gmm . Gmm. Well, difficult f
Economic houses in place. Theres seeing property is the biggest threat. You may have seen a glimpse of what is to come in 2018 and the treasuries market with that yields surge we saw today. A lot of nervous investors around how much the yield curve has flattened in the face of more positive economic data. I want to bring up this chart really quickly, which shows how much a yield curve has flattened. It is headed toward that in version, usually points to an imminent recession most times. We heard dow fed president fred kaplan say thats usually the ase, how you determine flattening inverted yield curve, and why this time would be any different. That has a lot of investors nervous, are we going to see some sort of tantrum in the bond market . That would be quite shocking to the market. It has been interesting, too, what weve seen overnight, not just the 10year come the 30year. Reform . Signal of tax could we see some type of Economic Growth, or are we going to reach your end and see this
Dijsselbloem in brussels today. Can a greek deal get done . Matt we are less than a halfhour to the open of european trading and it is going to be an exciting day after a surge in asian stocks. The nikkei up 2. 5 . The s p 500 rose to a record on optimism for president trumps tax plan. Now we see european stock Index Futures pointing to a positive open. Also on optimism for that one china backing we got out of the white house. Ftse futures up 0. 3 . Dax futures up 0. 5 . Guy it is a fascinating friday. You can see it across the gmm screen. The nikkei up 2. 49 . The real blowout performance coming from japanese stocks today. The yen is down 0. 4 . In the sbr in abe u. S. Today. Hazmat was saying, equities bid, bonds on offer. The other thing i want to show you, iron ore. Very solid week. That is great news for rio tinto. We will keep talking about that. The bund yield this morning, weve seen a tracking lower, trending sideways. Yields up, prices down. Lets get a bloomberg first word new
Equities trading, just under 30 minutes into the end of the friday session. 600 gainingg, stoxx for the fourth day, best run since december the ninth on trumps promise business stock overhaul. All currencies falling against the dollar. It is the losing run after six weeks of decline set to come to an end. Looks like it is. That is the bloomberg dollar spot index. Yields rising in portugal, italy and ireland. The 10 year is lower commodity than sovereign. Loreal in the news. We spoke to the chairman, fourthquarter sales missed estimates, rising eight point 4 , boosted by 6. 2 Revenue Growth in north america and increasing appetite for its brand,c higher and separately, it may dispose of the body shop division, potentially pulling the plug on years of a failed turnaround of the u. K. Cosmetic brand that spearheaded the trend in environmentally minded products before losing out to rivals. Shares in the last 12 months up 12 . Ughly today, a big u. K. Restaurant food delivery service. Numbe
Especially after a day like today, where the dow roared 232 points. The s p surged. 61 and the nasdaq ended at an alltime high. I think stocks are going higher not because of politics, but because earnings are much better than expected and the alternatives, bonds, gold, real estate seem very expensive to me. Still after this extraordinary twoday move, i want to tackle head on the notion that the nasdaq is overheated. Because the index blasted through the 6,000 level. And whenever we blast through new numbers, it causes instant soul searching. When we took out the 5,000 level, before unceremoniously diving thousands of points and wiping out a whole generation of investors. Could that happen again . Im not going to dodge this conversation, but i will say that you look at the two sets of stock, the nasdaq of 2000, versus the nasdaq 2017. The stocks that took us to 5,000 turned out to be incredibly expensive on an earnings basis, or just plain worthless. The best way to compare stocks on a