Election delay. Another wave, the u. K. In france report record daily virus cases. Good morning. Session volatile yesterday on wall street. Action, s p 500 futures are in the green. Flat on the year on the index. Alongside 50 up 0. 5 asian equities. Dollar index had a firm week, little change this morning, but we are up or the 1 , biggest weekly gain since april for the dollar. Nymex crude getting a lift, 40 a barrel. U. S. Equities, a volatile session fluctuated yesterday erasing this years gains briefly. The jobs data disappointed on top of stimulus talks. Dani burger is digging into it for us. Dani anyone trading yesterday is suffering from whiplash. We did get the s p 500 erasing yeartodate gains, and today it 0. 5 , unclear whether we will get that are not. We had converging forces between hopes for forces, poor jobs numbers, and new housing data that was optimistic. Thing that might comfort about what we saw yesterday, we are getting close to a correction. We need to drop 0. 8 on
At a joint hearing on the coronavirus and the procurement of personal protective equipment and other medical supplies. This rants an hour and a half. Joint hearing will come to order. Let me begin by thanking everyone for joining us today. I hope that my colleagues, our witnesses and viewers are staying healthy and safe. I want to thank chairman pain and Ranking Member king of the Emergency Preparedness response and recovery subcommittee, for coming together with Ranking Member crenshaw and i to hold this hearing. We are here to discuss federal and state efforts to picker critical supplies and response to the coronavirus pandemic. First, i want to acknowledge that the federal Emergency Management agency, fema, who is put in charge of the federal governments response was asked to testify today. While fema is not here today, i understand that and miss straighter gaynor plans to appear before the full Committee Later this month. Im pleased to hear this because it is vital that we Work Tog
I hope my colleagues, witnesses, and viewers are staying healthy and safe. I want to thank chairman pain and Ranking Member kane at the Emergency Preparedness respond and Recovery Committee for coming together with the Ranking Member and me to hold this hearing. We are here to discuss federal and state efforts to procure critical supplies in response to the coronavirus pandemic. I want to acknowledge the federal Emergency Management agency, which was put in charge of the federal governments response, was asked to testify today. Fema is not here today, but i understand there is an administrator to appear before the full Committee Later this month. Im pleased to hear this, because its vital we Work Together to address this challenge. I look forward to meeting with administrator gaynor soon and hearing what administrators have to say to form the discussion. Theres no denying the coronavirus pandemic has presented unparalleled challenges. One of the greatest challenges has been procuring a
The message is things are slowing down. Growth is slowing everywhere. The fed is not cutting fast enough to keep up with the falling growth outlook. They are actually behind the curve. The market is crying out for more. We are looking at extraordinary times in bond markets. Jonathan joining me from london is james athey. In new york, greg staples, priya misra of td securities. Priya, what a month its been. The 10 year treasury, people forget, 2 feels like a lifetime ago. It was the end of july, and we are down near 1. 50. Priya i think it means it is month to month for the entire rally, but what is also interesting, the curve steepening. We have had the 530 curve steepen out since the middle of last year. That also flipped in august. This was a bull flattening rally. This is the month where Investor Confidence in the trump put and fed put were shaken. The last 300 billion of tariffs, a lot of people expected the president would not initiate tariffs on that because it would have an impa
Plan parent governor murphy says forill go continue to press tax fairness. According to a bloomberg survey, the central bank is likely to cut rates by a quarter of 1 point in september and again in december before a week as meeting of fed policymakers. Economists were expecting just one rate cut. U. S. Unemployment filings increased to an unexpected high. Job claims rose to 207,000. Among two people eligible held around 1 . Jobless claims remain near historically low levels. Global news 24 hours a day on air and at tick tock on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. I am Mark Crumpton. This is bloomberg. This is bloomberg markets, the close. Awayn we are 30 minutes from the end of the trading day. The outperform a today is the nasdaq. This mood music is one of risk on in spite of the mixed message of whether there will be any progress in g20. A ban on tech sales to quality muddied the waters. The euro basically flat. Ofhad woeful data in