Strong gains we saw yesterday bounce up 2 for the benchmark even higher for some of the major markets like france, germany and italy. All 2 1 2 to 3 the range. Wall street is shot for the 4th of july holiday. Lacking a little more direction, continuing to see a spike in virus cases. We traveled a long way good news on the addition of new jobs to the economy again, and also news around viruses, vaccines to defeat the virus so the markets at this stage just a little bit more nervous around some of the negative news what weve got on those individual boards, this is how it looks for the german stock market, about a 10th of a percent plus thats as good as it gets on the optimism youre seeing on these boards we are down 6 10 on spanish stocks 3 10 on italy and 12 in the u. K. And france it is a reversal in the strong gains we witnessed in the thursday session the sectors, lets xi how its moving about the top has been technology. Retail is positive construction material, utilities, travel, le
Decades. The economy there slowing by almost 7 . And two dow components moving higher boeing that is restarting some production in Washington State and proctor and gamble reporting strong sales growth. Ill hit that later in the hour. Yes, indeed, hooking forward to that. Markets up 1. 5 59 minutes left of course. Lots of big guests coming up including we will discuss the broad market rally with bank of america and blackrock and chamber of commerce ceo, tom donohue will discuss the call for congress to provide more emergency funding to Small Businesses bob pisani is tracking todays rally. Adam from staten news is with us to talk about the market moving report he cowrote on gileads drug bob, lets kick things off with you. Well, we are up today and have been all day, but were at essentially just off the lows for the day. So the markets kind of running out of steam here. The good news here is is all the beaten up sectors are rallying today on the somewhat hopeful news on coronavirus treatm
The dow, s p 500, nasdaq alltime highs. First time all three have been there since midjuly. Is ace Strong Economy. Strong corporate earnings. More happy talk on trade today. If you havent bought this market by now, dont despair. The experts. They have missed this one big time. Should you race in before they do their job . Gibbs welt management erin bibs and sarge guilfoyle. Erin, start with you. One of oldest axioms on wall street, new highs beget new highs but when the train leaves the station you have to be there. We wanted to make sure about the dividend cut. Now that that is out of the way charles just the tone . Just a tone. No more negative. Now that is out of the way, stocks are pushing up. Theyre not expensive. Were, talking s p 500 is trading right at its average, threeyear average valuation. It is not super high. Not extremely risky. Were looking at about almost 10 Earnings Growth for 2020. That stayed very stable in the predictions. We havent seen that come out. Charles earn
Attacking guam. We will have more on that throughout the hour here after this interview. To missouri now. Hes the president and ceo of the Federal Reserve of st. Louis. Here is James Bullard in conversation with my colleague, Kathleen Hays in st. Louis. Welcome to a very special edition of the hays advantage on Bloomberg Radio and bloomberg at the federal bank of st. Louis for an exclusive interview with president jim bullard. Great to have you here. Thanks for coming to st. Louis. Kathleen its always fun. Thanks to your team and staff. You have been saying lots of interesting things about the economy and Monetary Policy. Just recently you said, do you think its best now to leave rates where we are. Earlier in the year you were more willing to say, maybe another rate hike, but now you say no, lowered unemployment will not you will not lead to higher inflation. Jim, jobs keep growing. Gdp has rebounded. Its above trend again. Some people think it will stay there. Its one more rate hike
Its the xpi, the ibb, the ones were talking about, and theyre down 4. 13 . Many of them rebound the maybe 25 , 30 off of the bottom that is they put in right when that tweet came out. Of course, the stocks were under pressure. They have bounced a little bit. Lily is, like i say, about 50 cents or so off the bottom that it put in, and still well above where it was in the after hours the other day. I think this is a lot to do about nothing. We would all like to see many of the Health Care Costs come down. I dont know that he can just wave a magic wand and have that happen. Sure, but weve seen, steve, the power of of the bully pulpit. Yes. Especially on this issue. We had this debate on monday. You were here. I was. I think. Yes. I was. And i led it, if you recall. Yes. You were here, jim. And, you know, its like confucious says. You give a man a fish, he eats a meal. You know, you teach a man to fish, and he can eat for the rest of his life. Steve, the tweets dont matter. The tweets dont