The nasdaq was lower but it is catching up. And the dowup. 9 up by about as much. The dollar index is stronger. Still below 93. Two of the better performing stocks, brownforman which is the topperforming stock primarily thanks to a surge in spirits and of course, the Michael Jordan news. Rally,g with the equity citigroups Tobias Levkovich recently raising his target on the s p 500 to 3300. He joins us now by phone. Thank you for joining. We are a little bit higher than that right now. There is going to be a leg lower to this market. It is still going to hold up somewhat into the end of the year. We are not going to see a crash according to you. Tobias the best way to put this is the fed is going to prevent it in many respects in terms of policy initiatives where there is this fascinating feedback loop phenomenon where stock prices go down, he will start getting very worried. People will start getting very worried. It will ebb and flow. It is unlikely for the markets of the you about 40
U. S. Threatening any recovery optimism. Australia braces for the end of a record run. Gdp data showing whether the 30 year recession free streak is over. Looking at how markets are trading, u. S. Futures under pressure after stock markets in the u. S. And in most thats ended mostly positive stock markets in the u. S. Ended mostly positive rating. Friday. Oflly no real substance concrete measures against beijing. We have the dollar index falling friday, the declines continue on down. 2 . Monday, this as confrontation with china continues but after the s p 500 closed may on an up note and now at the highest level in more than 12 weeks. 1. 7 , about 35 a barrel level. This is the highest in 11 weeks and the biggest the klein in more than a week. Decline in more than a week. Russia and saudi arabia agreed to coordinate on the deal reached by opecplus to cut output. Seeing u. S. E futures falling. Upside holding on with futures trading in this part of the world. Nikkei futures trading high
Sevenpart debt offer thats getting priced today its so true, carl. I think that word stabilization is really the key to the story here its signs of stabilization versus recovery and i think thats a key distinction and one playing out right now in the market whether youre looking at the ceo commentary on Earnings Calls or interviews on this network in recent days and the fed chairs message yesterday, arguably what were seeing in jobless claims, which are still so painfully elevate right now, but seem to have potentially peaked maybe three weeks ago, that the emerging theme is really that economic recovery is going to, at least based on everything weve seen right now and what weve heard right now, is going to take longer than initially thought, but there are still some of these potential signs suggesting that the worst, i say that with caveats and uncertainty still clouding everything, that the worst is over, whether its the comments we got from facebook on that Earnings Call yesterday o
Jobless claims, though, 4. 4 million, bringing the total to 26 million over the past five weeks. Oil bounces, and the european pmis remain historically low 16 in france no, 10 in france 16 in germany. Jim, though, your tone this morning is relatively hopeful. Look, i am a creature of who reports and what they say. And i can literally i find it hard to remember as Many Companies as saying good things, even as obviously were in nidest of a pandemic, and i dont think theyre all clockeyed optimists. These are large cap companies. These are not the companies that the government is trying to protect. These are arguably the winners the companies that are going to get stronger i listened to lee, and Lee Cooperman was talking about what its going to look like on the other side i look at my desk. I have reports everywhere here these are all companies that are going to come through with fewer competitors. And that may be bad for the u. S. Consumer, but its good for the stock market david, would y
A deadly bus that put the international spotlight on violence against women in the country. Im told me a lot of well welcome to the program. Is really is reporting more deaths from corona virus than any other nation in the world including china the original epicenter of the pandemic at least 3405. 00 people have now died from the virus in italy the country has recorded over 41000 infections the region alone body is the worst hit so many people have died then recent days that symmetries on no longer able to cope. Theyve had to call in the army to help move the dead. This is the worst hit area of what is now the country with the most covert 19 dead. And its least lombardy region. Those trying to help the living are struggling to cope. Well working in a state a very high stress and tension psychological stress has gone through the roof unfortunately we cant contain the situation in lombardy theres a high level of contagion and were not even counting the dead anymore. Look at the news that