It seems investors once again looking past the difficult months that may be ahead. Pricing forwards month statements are nine months ahead hoping we get past the virus. There could be difficult time ahead but this week you will not know it. David i should say. Thank you to Abigail Doolittle for that report on the markets. Overnight we were reminded of the complexities of the u. S. China relationship as a Foreign Ministry spokesman congratulated Vice President biden even as the trumpet ministration was bidding u. S. Investments in unspecified Chinese Company they say is tied to the chinese army. Richard haass published a Foreign Affairs piece called repairing the world in which he lays out the issues that will be in President Bidens inbox the day he walks into the oval office. Welcome. Great to have you with us. China is in the inbox but is not the first thing. The first thing is covid19. Richard i agree. China is in the inbox and will be for president as for the eye can see your the br
And only talk about the virus, the vaccine developments, when there is not much thats new. Why do this at all on a friday evening . I cant answer that. Its good to get out of the house, i guess. Been announcement about pfizer come a couple of weeks earlier, which to be clear, doesnt appear the science would have allowed, im sure we would be talking about a different political landscape. Even with that bad timing. It is certainly an achievement for this administration to have been able to help accelerate some of these vaccines, like the vaccineng moderna into the final stages, and hopefully the level of emergency approval and access to the American Public by the end of the year. That remains a very big deal if it does go that way. Emily can you clarify for the record what pfizers involvement was in operation warp speed . They did not get money from the government, saying they misrepresented the involvement. What do we know to be the truth about that . Question, andeat its important we c
Spot index down. 75 . That giving a boost equities as well. Within the equity market, the stops outperforming confirm the narrative is about reopening more economic optimism. The best performers are the likes of airlines, travel stops, the Airlines Index and hotel index up 10 or 7 . In the economic front, it is the more growth sensitive sectors leading the pack. Industrials up 4 in todays session. David which is a big change, it seems to me. In the past it was all about tech and health care. Now we are starting to see stocks that only do well if we can get on top of the virus. Is that because we have hope we are getting past it or because theyve gotten beaten down so badly at some point it makes sense . Kailey it is a little bit of both. Financials and energy are the worst performing sectors yeartodate so there may be buying coming into the market given how depressed the valuations are, but the fact that it is the cyclical growth centric stocks that are outperforming. Investors may be
The s p climbing 2 or so, now up 2. 35 . This after the monster rally we had just yesterday. 2. 25 . Technically, pushing the s p out of a bear market, but that is a heated debate. The 10year yield continuing to rise by seven or eight basis points. Today, rising by an additional 10 basis points. You are getting a weakening of the u. S. Dollar. Beware talking about the funding issues, stress levels coming into the bloomberg dollar index. Some of the natural correlations are starting to return just a little bit. There is some hope and optimism here. Copper futures rising 2 . Futures are at the highest may have been since march 17. Are closing, helping to reduce the supply, and some hopes now that the demand outlook is improving as well. Here for a deeper dive into the markets is abigail doolittle. What are you watching . Abigail thank you so much, taylor. Certainly a risk on rally for a second day in a row. You mentioned the s p 500 up about 2. 7 . Energy is climbing higher, even though
Footing. If we do get some kind of opecplus deal, that will provide some support in the markets. Guy we are seeing equity markets bid, and it is stuff the market has really fallen out of love with that is catching the biggest bid. The travel and leisure sector, airlines, some of the catering companies, the hotel groups really bid today. Bid, up by 1 . We are anticipating any second now the start of a Video Conference call between eurozone finance ministers. We will get the results of that maybe a little later on. We continue to watch what is happening over at st. Thomas hospital, where the Prime Minister of the United Kingdom is in intensive care. Withrms of what happening yields, going a little higher today. Trading at 37 basis points on the u. K. 10 year. Alix we will say higher maybe in quotes. For more on the impact of the virus, we are joined by kemal shree kumar by cobol shree kumar by hobo three rikumar. S are we seeing some sustained buying ability . Are greatse questions. I th