The stoxx 600 up by 0. 7 . It has not given up gains of yesterday. The ibex continues to outperform. It has been one of the most beaten up during the covid crisis. The s p is down by 0. 8 percent. Crude is still up, trading at 42. 82. This demand expectation goes handinhand with the travel story, but crude stocks in europe are some of the best performers. Oil certainly gaining on a number of fronts. We continue to see what is happening in the bond market, and we watch this very carefully. I think the german bond market increasingly, certainly over the last day or so, feeling like it has been driven by what is happening in treasuries. Treasuries moving up to that 1 mark, having an effect on what is happening in germany. Interest overwith the next few days. It is only tuesday. Alix thanks for that. It was an ugly close yesterday for the u. S. As guy was mentioning, eu negotiators reaching a deal on the longterm budget, expected to add about 2 to the eus economic output in the coming year
Screen completely different from yesterday and will call it a modest rebound but it was the big tech stocks that fueled the selloff in today though stocks also seen a modest rebound, certainly not recovering the losses theyve seen over the last three days but nevertheless they are back in the green. Take a look at tesla, that stock has lost around one third of its value in just one week. But look at it go today up nearly 7 and by the way well talk to the former Vice President of tesla coming up in this hour. Also tesla rival nikola solid spike after announcing the partnership with gm and come up will talk to the company ceo about the electric Vehicle Market in the fierce and growing competition. Meanwhile talking about competition in the race for the white house joe biden traveling to battleground states michigan to tout his new made in america plan, this ahead of the president s visit tomorrow and this morning by the way President Trump nominated for a Nobel Peace Prize by a member of
Coronavirus Task Force Meeting about issuing a blanket order for the entire country, but mister trump is standing fast saying its up to each state to determine how to handle coronavirus. In every state in this country. First we got to see a governors done with it doing theyve been doing a great job because were close to 90 anyway. States and were talking about. Not in jeopardy. Now i would leave it to the governors. And that decision comes on the same day where we saw the deadliest day in the u. S. During this pandemic 1423 people died today. We have more than 7100 deaths total and 277. 1000 cases in the u. S. New york far away the hardest hit state. There are nearly 100 or the just over 103,000 cases there and nearly 3,000 deaths in new york state and there are new guidelines tonight from the cdc on how americans can protect themselves while continuing social distancing guidelines. Nadia romero has thlatest now from washington. In fridays White House Coronavirus Task Force Briefing an
That vix up at 25. Weve got our crew standing by Courtney Reagan watching the stock staging a comeback Steve Liesman on how it could hit the gdp. We begin with bob pisani amid new warning signs. It kind of feels like its quiet today, and yet if you look at it on an historical basis, this is a pretty active day. The one to one advancing in decline so were not getting any weird breadth signals here the volume is lower than its been in the last several weeks by historical standards its high but compared to the last two weeks, actually, its pretty quiet. The volatility, the vix is elevated but moving in a very narrow range thats a sign of Little Things settling down. Kelly is absolutely right about the dow. 280 points from high to low. That would have been titanic two weeks ago and yet today were watching, oh, okay, thats not that bad overall i think the important thing is if you look at the dow, about half are up, half are down just what i said, one to one advancing to declining stocks. C
Would show that companies dont always use the asset when theyre repatriated to invest in manufacturing, jobs, things you gees are talking about they Share Buybacks and financial engineering. How do you guarantee that wont happen this time so, look, we heard that numerous times if thats our worstcase scenario that companies repatriate their money and use it for share pbuybacks and dividends, what happens . They buy back shares, issue dividends, pay the repatriation tax, we get another 20 tax on Capital Gains or dividends and the people who get that money back do what they reinvest it back in the economy in new investment and new capital. Were putting very enticing rules into the system that will entice people to invest capital for the next five years. Were giving people a fiveyear writeoff that they can instantly expense. So, look, if that happens, thats fine, we know that money will get invested right back into the economy and drive jobs, drive economic growth, drive wages and drive pr