Happened. The bears breathe a sigh of relief. But is it all over as soon as it started . The cash trade is just an hour away so lets see if this has legs. Here are your top headlines. With thes a big blow nasdaq down almost 5 . The s p severs it steepest drop since june. And suffers its deepest drop since june. Bill ackman tells market jitters the National Bank to challenge santander. So, a lot going on today, as well as german factory orders. They are now out. Ofth over month, the gain 2. 8 not nearly as much as a survey, which was 5 . Over the prior number, which was 27. 9 . Yearoveryear, its a drop of 7. 3 , which is worse than the survey drop of 6. 0 . And a slight improvement from 11. 3 on the prior numbers. So during factory orders german factory orders not shining light on this. Just under an hour away from the start of cash equity trading. Futures are down in europe. And remember, yesterday we were looking at gains on the dax of more than 1 . Then we closed losses of more than
Workers. He said the democrats are still blaming america first. And washington and beijing hold talks on phase one trade deal with u. S. Saying both sides saw progress. This comes as chinas foreign minister arrives in europe today. 6 00 a. M. In london, 7 00 a. M. In paris, good morning to you. Have we reached the top . Have we hit the high . Were in a pecklative bubble. Morgan stanley said were hop hev top heavy, ann marie. And theyre worried about growth. Ann marie annmarie the sales force. Com entered that. His is a tech rally. John just hit the mat and said k is not ok. He said think of it like algator jaws, you could easily get bitten. Manus and the other side of the coin, do we get a woosh that turns into a v. Ill leave you with one of the quotes from the mar began stanley piece. I expect a growth. A growth scare. Followed by a rate scare in the next few weeks and month which is could give us the first tradeable correction in the major equity end cease. How are the end cease doin
And we expect a normalization of that. But you need to remember as well that in our case, we have been working to stabilize, grow the franchise, recover some market share, so what we are pleased to see is that underneath that sort of outperformance in the market environment that we have been in, we have seen really good franchise stabilization traction , client engagement, improvement in clients. We think that bodes well for the future. You are expecting slightly higher revenue for the full year. Not too conservative now given what we have seen in the first half . It it would be james would be a normalization but i think an improvement on last years second half. Again, especially in our businesses, where a year ago, we were going through a restructuring and there was some uncertainty around our people and franchise, so with that now behind us, we see momentum in the core business, and we would like to see a secondhalf performance well ahead of last years second half, but we will see ho
Damage the coronavirus crisis, he says, raises those longterm concerns that he was talking about. The u. S. Response to that point he says has been swift and forceful the fed has acted with unprecedented speed and force. He cites a survey that shows in the month of march, 40 of households making less than 40,000 has lost a job carl lets get to the webcast. Here is the fed chair. Its very hard to imagine we could have anyone better than jay powell thank you for coming back to the Peterson Institute, chairman powell thanks very much, adam. Its great to be back. I have some brief remarks and then ill look forward to our discussion the coronavirus has left a devastating human and economic toll in its wake as it has spread around the globe. This is a Worldwide Public Health crisis and Health Care Workers have been the First Responders showing courage, determination and earning our lasting gratitude. So have the legions of other essential workers who put themselves at risk every day on our b
Its lows and the s p is higher again thanks to banks. Up about one quarter of 1 , theater and on the 3000 level. As he can see, we were watching for the last few hours with the offshore one trading just below 719. A big fiscal stimulus package proposed as well and that spreads, narrowing the italian german tenyear spread. Lets get a deeper dive in the s p 500. Mentionedthree stocks on the call to investors a short time ago. Effect ond quite an how they have been trading. 2 . Hotels, still up quite substantially after that announcement. I look at the nasdaq and it is the second day in a row it has fallen. Facebook and microsoft, sectors of the market, sensitive stocks are the ones outperforming today. Is shifting the dynamics of the broader market. Make a caps on what contributed to the u. S. Market dominance. Youre looking at the s p 500 relative performance, were seeing the relative outperformance to small caps. The s p 500 although it back in may of 2018. Small caps were reflecting o