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francine lacqua will be with us from the world economic forum. if you look at g10 currencies, the aussie, the best performer is pulling back on bets on interest rate cuts. a signal from the bank of canada on easing. central banks even as we have ripples across the market because of concerns around the coronavirus. speaking of the impact, in the asian session we saw weakness, stocks resuming their decline with chinese stocks bearing the brunt. u.s. futures have been more contained, they were lower in the asian session. touch 1.70. will we get there on coronavirus risks? oil is extending declines from a slowdown. brent at 62.45. we will hear from thomas jordan from davos later this hour. let s get the bloomberg first word news from new york. the spread of the coronavirus, china is locking down a city of 11 million people. officials halting travel from wuhan. today the world health organization is expected to decide to declare a public health emergency. in the u.k., a ....
which might make it more difficult to detect. certainly in bond markets you are seeing it in the 10 year e is at 172 across year 1.72. the s&p 500 down a third of a percent. the dow down even more. shreveport mcnamara coming out talking about coronavirus saying it s affecting mining cost and their outlook as well when it comes to travel in it out of china. the u.s. is pressing concern. , the worst earnings performer in the s&p 500 down after a poor earnings outlook. we will see how that is. sintra systems is the best performer on our earnings by. europe.ilar themes in the coronavirus front and center when it comes to market actions. we are seeing european stocks off session lows but still down by 6/10 of 1%. the mining sector is the loser and you can see why if you take a look at the right hand side. concern that what is happening in china right now may impact growth and that will therefore feed into demand. you ve got a single currency that softer. initially when chri ....
us the upcoming meeting between qualcomm and broadcom and a lot more lets give you a quick look at the futures at this moment we are set up of a higher open, this is has not been a great tale for the rest of the day given the volatility that we saw last week. we did end the week on an up note have not put the two back-to-back there is germany though and the rest of europe like we are really, really weak. come on, everybody is down the same amount, it just does not make a lot of sense. tlhere is a shared concern 2.86 calmer than they were at 3:00 a.m that s important. we can see wti is having a little bounce as well. we start with the course markets that bounced back after the worst week of stocks ins southeaster since 2016 you know what jim says about the futures. plus, the white house is rolling out its budget and a new $200 billion infrastructure. key question, how are they going to pay all of that broadcom continuing acquiring qualcomm it would be the lar ....
the market is broken or bent. give me a reason. that was intentional, wasn t it? seema m owith the top stockso buy but first bob pisani. last week you had your opportunity. and the markets have gotten considerably cheaper the multiple, forward multiple, price earnings multiple on the s&p 500 has gone down considerably two weeks ago it was 18.5. that s historically high the 20-year average is 16. at friday we were 16.6, the lowest since the election. we crept up with the rally, 16.9, but you get idea it s getting cheaper now the big debate is with what we ve seen here at the open today, are we at a tradeable low here can we anticipate the market won t have another big move to the downside we ve had a big move down. it s the indices are way oversold so makes some sense you get it back. a little bounce. the correction is only six days old. some people calling it a technical correction, not based on fundamentals. others dramatically disagree with that idea look what s ....
percentage point dax is slightly weaker, relatively flat as is the cac. crude oil prices, crude oil yesterday was flat ended up by two cents this morning another 44 cents $55.35 so wti above $50 a barrel. back to the markets in a moment first the latest developments on hurricane maria. the hurricane making landfall on the island of dominica as a category 5 storm it is now weakened slightly within the past few hours to a category 4 that s the good news forecasters warn that maria could reach strength as it nears the virgin islands, puerto rico also in maria s cross hairs. you know, when these hurricanes come, they come. this come in waves we are also following developing stories out of southern california overnight a magnitude 3.6 earthquake shook parts of los angeles it happened at 11:20 p.m. local time dren residents as far away as costa mesa felt the rumble joseph, why never heard of costa mesa i called it so ed ied it cos, i m mesa. i m a mess-a in the mornin ....