Largescale repos, as it has been doing it goes on to describe the impact of the coronavirus on the economy the way it sees it, causing tremendous human and economic hardship, the statement says and measures to protect health have been causing the sharp economic declines and the losses in unemployment and jobs on the inflation front, the Federal Reserve notes, muted inflation, says weak demand and Lower Oil Prices are holding down inflation disruptions to Economic Activity, it says, have impaired the flow of credit the Public Health crisis will weigh heavily, it says, on Economic Activity and unemployment and just a bit of analysis picking on something that was just said there, there is no forwardlooking aspect to this statement here generally, the Federal Reserve says, this policy will lead to x, continued, sustained expansion. Things like that there is nothing here where the fed says the policies we have now will lead to x in the future its all about the fed chronicling the damage to
Because of coronavirus meantime, the pause of news comes from the pharma sector as a trial from gilead shows promising results. Lvmh with a disappointing set of numbers the ceo says the situation is improving. Caller weve always seen in the history of the Company Strong bounce back after crisis. Weve seen that in the past and in other epidemics what we are seeing right now in china is not surprising us auto sales plunging. In italy, the hardest hit country as dealerships across the country are closed we are an hour into the trading session here in europe and we have a strong bounce on the index taking away from some of the losses we had shored up for the trading week the stoxx 600 down more than 2 for the week also strong gains in individual markets. The likes of the french stock market are rallying really nicely today one of the strong ones out of the core markets one of them that rallied 3. 3 , a little behind but solid to the dax, 3. 1 the ftse tracking in the green also slightly fi
Says the economy will take off quote, like a rocket ship when it reopens. The questions, though, are when will that be and what will it look like. The market is asking those very same questions as it searches for direction this morning. More green on the screen but again, markets want to know how much economic damage has been done. Meanwhile, moodys says economic output fell a staggering 29 in the first week of april. That is compared to march. That is the first full week of true social distancing rules in place across the country, and that was the result. Down 29 . The other big story of the day, the w. H. O. Is under fire from President Trump. The president saying he may freeze funding to the organization over its response to the pandemic. This is happening as we get more clarity on what may be in a fourth stimulus package. President trump wants 250 billion more for Small Business. Senator schumer wants a 25,000 bonus for front line heroes Like Health Care workers. And we also have s
Appetite. Alix as you were pointing out, youre not going to see a lot of Movement Ahead of what is going to have any jackson hole. S p futures down by about two tents of 1 . You have utilities making a record high yesterday, so a little bit of risk on the side. You do have dollar u. N. An with its biggest drop yesterday. Time now for global exchange, where we bring you todays market moving news from around the world. Joining us from london is bloombergs emma chandra. From wyoming, Michael Mckee. From sao paulo, julia leite. First, i want to start in europe. Euro area pmis coming in slightly strongerthanexpected. Bloombergs,go to chandra bloombergs emma chandra. Emma we saw the pickup and composite pmi across the area. We also saw in france a return to growth for french menu factoring. The real headlines out of germany were in manufacturing remained in contraction mode is the engine of the european economy is not looking good, fueling those fears of a eightion, shrinking straight months
Dont let that fool you. It has been a great year for the stock market. Some of the best gains since 2013. Lets dive into individual movers. When we talk about the year, it was the year of ipos. I want to break down the best and the worst ipos for you. We will start with the winner, roku. Up 273 . It opened for this year price of 14. We are now at 38 a share. Quite a big gain. What was not a good ipo was blue apron. Off about 59 this year. It ipod on june 28 at 10 a share. Now at around five dollars a share. That is where we are in terms of ipos. There are some individual movers today, some winners and some losers. I will focus on the losers. One of them is apple. Thats why the nasdaq is the worst performer of the major averages. Apple is off about one half of 1 . They apologized to customers. We saw this headlines this morning for changing software that reduced the performance of older iphones. Apple said it did not intentionally made to shorten the life of those, so it is offering bat