Maria is there with more. What do we know so far . It seems like they are going to be talking on the 750 billion euros stimulus. Is that rhetoric . Maria it is unclear whether we get a deal. We do know european leaders have been stuck in a room was 10 hours debating what to do with his Recovery Fund. It is clear there are three major sticking points. One has to do with the size of the Recovery Fund, how big it is going to be. Euros wouldbillion be granted as grants to countries in Southern Europe that have been badly hit by the coronavirus. That could change during the weekend. There is an issue with the format, how much this money will be in terms of grants and how much will be a typical bailout just cash for reforms. Secondly, this is becoming a major thing, the governments. Who is going to make sure a country like italy after they get this money, who is going to make sure they use it for reforms . For a country like the netherlands, for the dutch Prime Minister to whom i spoke to in
I have to start. Well break down the Holiday Retail rush as power lunch starts right now welcome to power lunch. Lets take a look at where we stand. Stocks are shrugging off the d. C. Drama as tyler mentioned. As tyler mentioned, its christmas crunch time, six days makes me nervous too lets check out some of the retailers hitting record highs today. Nike, best buy and target, hitting their highest levels ever were going to talk about some of those names as the hour goes on thank you very much wall street focused on washington today at least a little brit as the house begins to debate impeachment. A vote is expected to take place later this evening, and a man javers has more. You. See the action taking place down on capitol hill, on the other end of pennsylvania avenue from here at the white house, where it is all quiet in the west wing. In fact, surprisingly quiet, no indication of any particularly special meetings today no indication that the president is doing much of anything at all
Some areas than others. Caroline perhaps more idiosyncratic. Lets dive deeper. Abigail, what are you watching . The contrast between the close on the day and the close on the week. On the week, all major averages higher. Lets dig into the technicals. There is reason to believe that could continue. This goes back to 2011. When the s p 500 consolidates down and then pops, the bulls are resting. The sellers trying to push through. The average continues to climb. There are several moments even last year at the beginning of last year, we had that volatility. 500 to newd the s p alltime highs. Appears to be a similar situation with the s p bouncing off that 40 week moving average. The s p 500 might rise above that alltime high. Maybe towards 3100. Perhaps the fed meeting could be a catalyst. Upive been watching oil, around 0. 5 on the day, close to 3 over the past two days. The rally not enough to keep oil in the green on the week. We are headed to a decline of more than 2 on the week. That
Bloomberg, im Tom Mackenzie. Asia has struggles after the s p hits another record. European futures are flat. In the u. K. , crucial data is due , Andrew Bailey expects quite a drop as the Central Bank Ways weather to cut rates. The next move will be a cut. The question is how long we have to maintain this level of restriction. Tom divergence grows and fed officials reaffirm the higher for longer approach. Christine lagarde says there is a strong likelihood of a cut. Lets check in on these markets. The fed reiterating higher for longer. European futures are flat, s p notching the 24th record high this year by the end of the close yesterday. And the volatility in focus ahead of an nvidia earnings with market suggesting 8 moves depending on what comes through from the maker of Semi Conductors. European futures with modest gains. Ftse 100 adding 12 points. S p unchanged, nasdaq pushed higher, 18,000, a modest gain. It will be sensitive to earnings. The pound is in focus. Headline around 2
Thanks so much for joining us this beautiful monday morning. Im maria bartiromo. It is monday, april 29, your top stories, 6 00 a. M. On the east coast. Coming up, the final few trading days of the month of april as investors focus on the fed. Futures indicating a gain at the start of trading ahead of the Central Banks meeting beginning tomorrow morning. The fed raised the bar on rate cuts so its commentary on wednesday afternoon will be critical. Weve got the preview. A week of jobs data, the job openings report out tomorrow, the april adp out on wednesday. The labor departments april report on jobs on friday. Big week for jobs, expected to grow 175,000 on adp. Plus, previewing market moving big tech earnings, amazon is out tomorrow, apple is out on thursday. Weve got the preview and a look at big tech this morning. European markets are mixed. Ft 100 is higher, as is the cac quarante, down 10 on the dax in germany. In you asia, green a cross the board. The japanese yen plummeting, bri