As much as 5 Billion each day according tojpmorgan analysts. Us retailers, automakers and other businesses now face Ballooning Freight rates ahead of the crucial festive shopping season. Large retailers have pulled forward imports of much of their Holiday Merchandise and made reservations with west Coast Ocean and Rail Carriers in hopes of avoiding any disruption. Lets speak to peter sand, chief analyst at xeneta, an Ocean Freight analytics firm. Hello to you. I know you have already calculated what this could mean if the Strike Action goes ahead, so do tell us more. A disruption like this always comes at a bad time for European Exporters into North America as well as North American exporters out of thE East Coast And Gulf coast. It will be impacted at first but this seems to be a first for almost 50 years, has the potential not only to lift Freight Rates higher due to the disruption from the strike, but certainly also to have wider implications, one or two months later down the road w
Highs on the news with the money flowing to value and cyclicals. Havens are clawing back some ground today. Retaliation. The European Union will impose tariffs on 4 billion of u. S. Goods starting today. The eus trade achieve calls on both sides to drop countermeasures. A very good morning. If you think about it, we had that tantalizing, parabolic move, i would say, in this market yesterday evening. I was here late. Isar rationing around the markets i saw rationing around the markets. This morning, we face i suppose reality. Feels like a massive night out and this morning was a bit of the hangover reaction. Michael purves says it perfectly, talking about the vulnerabilities of the vaccine narrative. If the republicans gain control of the senate, this is very much so for them less onerous to want to do a fist lee onus less onus for them to want to do a big fiscal package. Lets take a look at what we did see yesterday, that euphoria manus is talking about. I want to show you the close ye
Trade iing at levels we havent seen in nearly two decades amid falling demand and an expected jump in production and the virus itself remains front and center. President trump e iine ining gus until the end of april as the u. S. Cases top 150,000 weve got great guests join ing us, the ceo of medical supply Company Henry Schein and the head of amid this turbulent market with 59 minutes left, we are up 2. 8 led by helhealth care, tech and Consumer Staples lets focus in on the big stories. Meg is going to join us with the latest on testing and treatment. Kayla has the latest from lawmakers and mike is tracking all the Market Action but meg, first to you hi, guys. Lets start with Johnson Johnson. That news theyve selected their lead candidate for Vaccine Development. Really moving their stock higher and causing a lot of optimism that well see a vaccine in timelines that are faster than expected companies saying it plans to tart human Clinical Trials in september. Months faster than they pr
Oils biggest drop in three decades. Some buyers of saudi crude are said to seek 50 more after it slashes prices. The ferocity of yesterdays in this mornings rolldown. You are seeing a moment of either reprieve, and the best opportunity to sell in terms of the s p futures over the past two days. On a futures front, we are off on the s p up on the s p futures. Up 3. 5 . All out recession was being pumped into the prices yesterday. We turned into a bear market. Dropping futures by 20 . Have a look at the bonds. Yesterday was down for equities. This morning there is a limit down. Thats giving you a nice spike in yields. My last guest said expect a further pump higher in terms of yields. That is when they would seek to enter the market. The fed are active. The new york fed are adding liquidity. Turning on the repo tap. Say the fed as opposed to a Global Central Bank reaction. The fed is acting on liquidity. Roll over the currency market. , yields protectionism rise in the United States of a
Investigation of hunter biden, a special counsel has been announced, signaling that a trial is now likely to fall into legal and political implications. Plus blunt words from a judge to Donald Trumps legal team, reminding the former president he cant intimidate witnesses and warning more inflammatory statements lieutenants require a quicker start to a trial. In hawaii, at least 55 killed, thousands displaced, as fires devastate maui. One official says the Historic Town of lahaina is all gone. This hour, a look at what some has lost to the hawaiians, and what they need most. All of this is coming in right to cnn news central. It is happening again. Another highprofile special counsel has now been appointed, this time its in the Hunter Biden Investigation. Today Attorney Garland announced he elevated david weiss to special counsel status. Hes been leading the yearslong investigation, and he recently requested he be given special counsel designation. The reaction in washington is pouring