Andrew ross sorkin with joe kernen becky is off again today a little in the red. The treasury yields and earnings that may have an impact on all of this. The 10year note, we are now below. 6 we are down to. 592 we can debate what that means for today. Discussing Market Recovery and earnings Kansas City Southern and United Airlines ceo and health and Human Services secretary you want to stay tuned to squauchl the nasdaq down pretty significantly. It was up two or three hundred. It was up and did you know and up and down. It was really crazy. You heard cramer talking about that it was truly crazy. Insanity. The didnt hold on to the big gains. I think it was down almost 300 when cooperating on that at the end of the day, well see. I heard it said, well, you gave him an out he could have been resting on his laurels by now saying i would at least nuance it so i could claim to have been right if we had extended here. Doesnt it feel extended here. If i were paulson. Fur trying to be right all
Continues to rise significantly in terms of the virus and we talked a lot and well hear from meg again and meg has been following it so closely for us and the market only seems to go up as the cases go up. That is leaving some people scratching their heads and others view it as were going to get to the other side and a view of what the economy will look like and then you come back to the fed, carl, which seems to be the fuel that everybody sort of points to as the key fuel, i should say, for this market. Yeah. Morgan, lots of notes over the long weekend and we hope everybody did have a great, long weekend. More debt and liquidity and asset reflation. That was literally the title of the jpmorgan note on friday. Yeah, for all those folks that were basically still stuck at home or not traveling and getting on airplanes, lots to digest in terms of market commentary over the weekend. I would add to the fed, i would add the expectations that do seem to be baked in around what phase four fisc
Steepening and broadening and a lot more this is one of those rallies that not only is taking people by surprise, but continues to roll and were seeing major gap ups i was mentioning on squawk major gap ups in the morning more of the 1980s action and its very interesting because stan talked about his views of the 1980s and theyre pertinent as ever. We have incredible and we have a president who wants new highs and we have stocks that are recovering well ahead of the fundamentals but some people can say that is what should happen look at the airlines we are hhad some numbers from pl lebeau and almost as if people decided covid is over and its a vshape rally and you better get on board and that makes you a little uncomfortable. Well, i just think that the friday rallies, as sweet as it was off the unemployment number has not put out any sellers, carl and i often think that there have to be sellers at a certain level. I mean, can you really take the banks up so much when there was so much
Tentative trade with autos extending decline as bmw warns the pandemic effect will last longer than anticipated. The german hospital operator flags increased demand for drugs and devices. Telling cnbc they are prepared for a second wave. We are working very closely with the authorities to make sure we have flexibility in termts of our ability to react should there be a second wave as the measures are released. A frozen dividend for disney. The media giant cancels a payout as it takes a 1. 4 billion hit from the paepd but makes plans to reopen in shanghai next week. The uk becomes the worst hit country in europe overtaking italy as the death toll crosses 32,000 the government grapples to get a time line for the exit from the lockdown a warm welcome to street signs. Lets kick off with fresh data this is on eurozone april pmi, the final numbers for services that figure for the whole is 12. Slightly better than the flash estimate of 11. 7 that makes the final composite pmi 13. 6, just a to
Debt as collateral for loans as eu leaders meet today to discuss a 2. 2 trillion revival plan. Loan provisions jump at Credit Suisse as the lender builds reserves to withstand the coronavirus pandemic. We will speak exclusively with the banks new ceo just after 9 00 a. M. Hopes forrs crafted higher profit in 2020. And the earnings deluge continues. Revenueetting hermes out, down 6. 5 percent, which does not seem quite so bad all things considered. Anna we are getting numbers out of unilever as well, so the earnings daily continues. Things not looking great for unilever. Delucia the earnings deluge continues. Growth of zero, so 0 . The estimate was of an increase and itr just over 2 , seems on pricing and on volume they missed estimates. Pricing looks to be lower than estimates and volume looks to be lower than estimates. That seems to be where we are on the top line. They are also saying they are withdrawing their previous 2020. Uidance First Quarter underlying sales slack, as i mentio