Increase the budget gap by 1. 6 trillion this fiscal year. We knew it would be expensive. We now have a number. Act, to makeres sure we get relief to individuals and businesses affected. Romaine obviously, a lot of folks are looking at what is happening with the budget. We did close higher again. How much you want to read into these numbers, that is up to you on a personal level. The nasdaq 100 did close higher on a yeartoyear basis. Losses itll of the had i believe going back to march 20. Of buyinging a lot here. David, when you take a look at not only the earnings season but some of the rallies we have gotten out of some of these things. Names like tesla, amazon. I can sort of understand why some investors would look for a little bit of safety and growth. We may be getting a little too far ahead of ourselves. How these companies are going to perform in an environment where business spending might look a lot different than what we are used to seeing. David those are two very different
The pboc cuts mediumterm borrowing costs again amid expectations for further easing. Holds a virtual spring meeting. Welcome to daybreak europe. Emerging markets are very much in focus with the imf meeting. What a dire warning on the Great Lockdown recession. This is a bank of America Survey. The pessimism with cash levels at their highest since 9 11. Globalinvestors expect a recession in the next year. Manus the question is, our markets prepare for that . We woke up to a world which is driven by unilateralism over multilateralism. The halting of payments to the World Health Organization, the policy in the g7, unilateralism within the United States of america is alive and well. Theavorite line apart from 450 increase in provisions of jpmorgan is from howard marks. A healthy fear of loss in the market has been taken away. Weve got results. Forfirming the guidance 2020. Thats a big call. Nejra the red headline is that asml is refraining from giving guidance for the Second Quarter. 2020,
Think about all this going on in the middle of a Global Pandemic shouldnt we have some International Solidarity put our differences aside just for this moment bridgette i think its disgraceful i think when you look at Something Like this pandemic that affects the entire world it affects poor people it even affects people in power take a look at Boris Johnson hes lying in the hospital right now he might die it affects everyone isnt the time theyre set down the politics sex down the bowl and you know what comes after that set it down leave it goal and face a problem that affects the entire world and should bring us all together instead of separating us farther apart while these idiots continue to fuel their war games and what angers me about the iran deal is our Mainstream Media they always go back to when iran took hostages in the early 7. These so they make people believe that iran was the initial aggression aggressor not true lets go back to the fiftys where iran had a democratically
Go higher. The crash stride an hour away. Lets get your top headlines off the bloomberg terminal. China p. M. I. Data Beat Estimates but it is a mixed picture for asian stocks and u. S. Futures turned in the case negative. The w. H. O. Said the coronavirus outbreak in europe may be approaching its peak but across the atlantic new york city reports a 16 increase in deaths in just six hours. Plus lenders from howards bank to unicredit halts dividends at the request of the b. B. C. Well speak with the chair to have Advisory Board in just over an hour. We do see futures positive here. Certainly in germany. 3 4 of a percent. Up on the dax futures. U. S. Futures we pointed out are down right now. Of course that can change. Volatility is the name of the game these days but we see a little bit of a split in terms over the risk indicators. Anna, what do you see from your g. M. M. . Anna before get to that, lets get to breaking news. We have numbers coming through from shell. They are talking oo
24 hours. Larry kudlow says todays jobless claims figures show a big increase. The bank of england seen throwing holding fire for now. We have the Senate Passed the stimulus bill. That seems to be priced into risk assets. The market very much seeming to shift its focus to no Inflection Point in case the death toll worldwide. Green on the screen on the Msci Asia Pacific index overnight, but i mixed picture below the surface. U. S. And european futures in the red. The 10 year yield slipping seven basis points. In terms of g10 against the dollar, you are seeing the end the best performer. Commodities under pressure. Oil under pressure after a 9 gain over the past three days. Goldman saying even a halt in the price war cannot save oil from a huge glut in terms of their commentary on the oil market. They are saying crude surplus could be 14 Million Barrels a day in the second quarter. To get back to the u. S. Senate, it has passed a 2 trillion Coronavirus Relief package. The approval has co