anchor: alibaba investors headed to hong kong. under threat for the covid-19 resurgence, the unemployment rate will jump in the next two months, and the republicans launch their national convention on monday, with a new poll that suggests their supporters like the economy and the government handling of the coronavirus. let s get a quick check of how the markets are trading, up 2/10 of 1%, this, of course, after we had another rally on friday session, the nasdaq gaining 4/10 of 1%. data,e plaza positive and a record in july helped by chief borrowing costs. homebuilders lead that round in the s&p 500, which was up for a fourth straight week. we have seen really records for the s&p in the last week, and the sector that gained the most ground was tech. in the moment, holding steady after gains on friday, but we trend, down around 10% since the march i. taking a look at what oil is doing, reversing some of the losses we saw on friday, above $42 a barrel at the moment. we saw it
we have seen strength. it has reached 690. that could mean a path to a level not seen since january. the hang seng up 1.5%. take a look at where we are in terms of emerging markets. they are trading higher. 1% shy of a recent losses. the kospi is up. the south korean assets will be watched today as it is expected to stoper restrictions a flareup. gold down to 1943. let s get to first word news with karina mitchell in new york. karina: president trump is welcoming a coronavirus treatment that involves blood plasma from corrupt recovered patients, saying it will be expanded to more sufferers after the fda approved its use. this makes it easier to make it accessible. even though its full effectiveness has not been proven. the fda has concluded the treatment is safe and works. virushas marked a grim milestone topping 3 million infections as the outbreak accelerates. new cases rose by 59,000 sunday with 57,000 people having died in total. south korea is considering imposing tigh
the p.m.i. we ll dive deep into this in a bit. look at the boards. the dollar still holds on to the retreat. that is helping some asian currencies out there. e re holding on 706. we were near the 100-day moving average. we re siegristance now that the dollar seems to be hovering around the two-week lows despite the fact but we re seeing the dollar-yen pretty much at 168 but seeing at least six days of gains so far for the japanese currency. watching oil price. we see it climbs once again. you are seeing w.t.i. futures. 4% higher for brent crude. gold snapped out of four dives declines. it is largely unchanged. hovering around 62 basis points now. we have the first official gauge for china s economy in april. weakened again. investors are waiting to see what steps the pboc may take to bolster the economy. our guest from citigroup joins us this morning. what is your assessment of the p.m.i. data that we got. nonmanufacturing. manufacturing below the forecast. still in expansi
we will look at the reports across the global supply chain. hsbc puts 35,000 jobs on the chopping block. we will find out what the bank is doing to graphs to grapple with the outbreak. today, you had a drop in the major averages like the s&p 500. the chipmakers getting hit the hardest. this is an art this is after apple of course said they would miss quarterly revenue numbers. means is a flight to quality, you are now down about 2-3 basis points or so, very curious. where they think value is for the 10 year. . as around day 180 or so. yield on the long end, that three-month 10 year now inverted . the most inverted we have seen it since the beginning of the month. a fairlyis going to be busy day in this part of the world. his hollande new zealand trading already. futures looking flat in australia as well. metals, one of the big iron ore minors is reporting earnings. also crown casino. gold is priced in gold priced in australian dollars is a record. currencies, the u.s. d
hong kong, also seeing gains of 313 points at the moment and always also positive as well. jeffries, saying look, this is the time to buy the story, given what we are getting on the trade there is devil in the details on how they will enforce it. the when it comes to taiwanese dollar, also looking favorable as well. 672. at the moment. 672 at the moment. traders notseeing exactly taking risks, again to the currency and this is despite the fact we are seeing ample liquidities coming in. you look at the market in particular, has been the cheapest we have seen in many years, so i guess that shows the sentiment involving the talks right now. people not placing bets here or there, but the volatility has been elevated for some time. we will continue to watch those lines coming through. meantime, from new york may revive and china a high-speed rail project that the prime minister said he would cancel for being too expensive. since returning to power, he talked about chinese in