Dragged down by the more powerful bond market taking 357 points, s p falling. 82 nasdaq advanced a basis point, stunning comback but lets not get too carried away, still the worst woke for the averages since the financial crisis the bond market is bigger than the stock market we dont talk about it because its boring. But its important to the direction of your portfolio. Everythings wrapped up in bond yields always has been. I learned that 40 years ago. There are multibillion dollar programs that sell stocks whenever those yields go down. Its form got as lows a 1. 1 today, closing at 1. 16 thats a record low level, signaling the economy is growing weaker, and quality investors hide money in fixed income, coronavirus supply chain the bond market is screams that the coronavirus is far worse than most people realize Global Commerce will take a real hit and it might even be something similar to 2008 when all hell broke loose i cant tell you whether the bond market is right im not an epidemi
Deal. Markets pointing to another record high. Weve got gains across the board with the major indices once again in unchartered territory. Dow futures up 23 points, s p up 2, and nasdaq futures higher by 9. Impeachment standoff, that continues this morning. Congress is headed home for the holidays. But democrats are holding up sending the articles of impeachment to the senate. The battle focusing on witnesses now. What happens now . We are digging in. Then the force not so strong this time around. Star wars, the rise of skywalker number one at the box office in north america but falling short of the last two films in the trilogy. Mornings with maria begins right now. Its christmas time and weve got the spirit. Jacks for chilling. Thats what christmas is all about. The time is now. The place is here. Maria weve got christmas rapping going on this morning. We have a big show. Good morning, everybody. Joining the conversation, the director of Equity Research at cfra, ken leon is here. Pol
Too. Tenyear well above 1. 8 and 1. 822. A developing story from china with big implications for u. S. Companies the Financial Times reporting that the communist party now ordered all state offices to remove foreign hardware and software within three years. This could hit firms like microsoft and dell, hp, especially hard. Now analysts estimate 20 to 30 million pieces of foreign equipment would need to be ultimately replaced. The order is not yet public yet but was described to the ft by two Cyber Security firms so this is going to this is like the fallout from huawei this is the fallout from huawei everybody out of the pool at one time think about microsoft and by the way one of the names not on the list, apple. Interesting where is apple . Apple doesnt do a lot of enterprise work in terms of corporate maybe not government. Maybe not government work but. More of a consumer play i dont know. I was thinking about that this morning. Where apple plays in that. Apple is obviously threaded
Results of another how will investors react to the second scandal of the year . Warm welcome to daybreak europe. Nejra cehic absconded on a holiday. Can we spell that word . A wood. S diverged in chinese equities and u. S. Equities. We are trying to make sense of what this rolling back of tariffs by china really means. There is a platform for a phase one deal . The u. S. Equity markets are set, correction,ity for 15 . It is time to become guarded. Perhaps we have become irrationally exuberant. Positive news flow on tariffs eking out again. The 200 dayby moving average. Wti, the uae oil minister saying things are good, they will talk about the expansion of the deal. Let us talk trade. The u. S. China says it is cutting import tariffs on certain goods from january 1. Expanding imports. The news comes from beijing and washington finalize the signing of a first phase of their trade deal early next week. Lets get to simon french, chief economist. Good to see you on this beautiful, crisp day
These are your markets. There seems to have been the u. S. Saying they will remove the threat in china, which is why we have seen a little bit of moves. Awaye exactly seven days from that election. Opec meets in vienna, brent crude at 62. 91. Moncler, really the stock of the day after that report that kering, the owner of gucci, was interested in buying moncler. They do jackets for the winter, skiing jackets now turned into fashion. That stock price has gained 9. 2 . Moncler at 42. 40 two. Coming up, we talk all things fx. It thing or two to say about the pound. We will also talk about emerging markets. Lets get straight to the bloomberg first word news in new york city. We begin with fiscal stimulus. Japans government pulling out all the stops. Tokyo announcing measures to support growth as the economy contends with an export slump and the fallout from the sales hike. We have learned the total package amounts and is expected to boost growth by 1. 4 . An unexpected hold in india. R. B.