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two-year is now trading, but that doesn t seem to matter. the majority of debt in europe all undergoing this powerful rally, despite the fact that we are going to see horrific unemployment number in about an hour and a half. let s get you out of the market moving news from our new york team. we want to start with the much awaited u.s. jobs data out of april for the next hour. economists now estimating 22 million jobs wiped out in the past month. joining me now is carl riccadonna, bloomberg chief economist. it is hard to put these into perspective. help me out. morning.d these numbers point to immense disruption in the u.s. economy, on a scale we really have not whichn recorded history, goes back to either world war ii or the great depression. ,o put some context around this this is far more than all of the job losses we saw during the great recession concentrated into a single month. if we take the job losses of the last nine recessions, lump them all together going bac ....
facebook, amazon. a whole lot of the names moving this market higher giving back those gains. joe: pretty ugly all around. off the lows but nowhere near the highs. is,ess the consolation yesterday still up substantially on the week. scarlet: positive on the week. down on the day, down on the year. in 2020.ones down 9.2% let s check in with our market reporters. abigail: i m thinking about today s two top stories. of course, the fed rate cut, the emergency rate cut, and the stock selloff. investment traders thinking the fed has not done enough. there was another period of time when bond yields fell and stocks fell. that was in 2018. at that time, fed chair jay powell they were in a hiking mode and he indicated they would hike. they did. and became more dovish stocks fell off. between that selloff and this selloff, even with the fed cutting rates, stocks going lower. investors not liking the messaging, it seems. they should not be worried about message response althou ....
routes in the u.k. is incredibly difficult. as a result of which, to be in a for francine lacqua this morning. let s have a look at the markets honest, this is something that then. was probably always going to happen. tom: as an american, i would the stoxx 600 is down by .2%. suggest that may be possibly we opened in positive territory because the railroad system is lifted with talk to come. so darned better than ours. flybe we will talk much more about that today. that puts the virus front and sentiment from center. it s get to first word news with the trading day. viviana hurtado. countries are ongoing headlines are weighing on things at u.s. futures are pointing negative. tightening travel restrictions to contain coronavirus. there are reports japan will quarantine all people arriving this is the picture on oil markets. from china and south korea. focusedthe brent price, australia has also added south korea to its band list. on the opec plus meeting in declaring a ....
joe: nowhere to hide. really ugly back to back days to start the week. scarlet: there are plenty of places to hide. joe: 10 year treasury, swiss franc. scarlet: japanese yen. we can go on. two charts to put this risk asset selloff in perspective. this is very simple. on bottom, bonds of top the one asset class doing well over this time period. on bottom, we have crude, copper. in white, the s&p 500 down 6%. composite in blue, down just 0.75% may be a benchmark here. 500reason to think the s&p will join the dow transports. the 200 day moving average in yellow. on friday, you can see the dow transports going right through the 50 day average. when the dow transports in the past has gone below that 200 day moving average, there has not been an exception. this chart would suggest more term,at least in the near for the s&p 500. worstooking at one of the performing sectors in the s&p 500. 4%, theals down about worst slide since 2011. that is as fears of the coronavirus continu ....
over the arrest and attainment of political opponents in venezuela. speaking from geneva, he said one lawmaker and his assistant have been detained since the end , without the detention being known. her office also documented recent attacks on clinical opposition, demonstrators, and journalists. the venezuelan national security president juan guaido was backed by 60 nations who recognized him as the interim president since early last year. the opposition leader claimed presidential power, claiming nicolas maduro was elected in a fraudulent vote. the top u.s. commander for the middle east is painting a grim picture for the peace process with the taliban in afghanistan. the general told the house armed services committee today that the current level of attacks is higher than what is allowed in the peace plan signed last month , and that he has no confidence the group will honor its commitments. global news 24 hours a day, on-air, and on quicktake by bloomberg, powered b ....