Cases surged across several u. S. States, while hong kong and tokyo report new high marks, and india considers new lockdowns. Wall street banks capitalizing on the Federal Reserves extraordinary rescue measures with record profits. Shery lets take a look at how markets are trading at the moment. U. S. Futures are coming online flat, after we saw losses in the regular session after two days of gains. We had investors continue to rotate out of this years top performers. Zero. 7 , fell about with microsoft and apple leading the losses. We had technology, the biggest decliner on the s p 500 as well. When it comes after hours trading, netflix also slumping on disappointing results. We had a couple of elements factoring into the market resurgence of virus cases factoring into the market, resurgence of virus cases, of course, but initial jobless claims higher than expected and the smallest weekly decline since march. Take a look at what oil is doing, Holding Steady at 40 a barrel, trading on
The 10 year yield is seeing a flattening name put on. Crude oil, down 8. 7 . Dive intoa deeper what is going on. Mentiont to commodities. It is across the commodity complex. Copper futures are down. Grim Economic Outlook from the fed yesterday, plus a possible resurgence of the virus here in the u. S. You are seeing one commodity higher, that is gold. Up 8 10 of 1 . The dollar is also stronger here. A weaker dollar is a proxy for risk appetite. But the dollar is indeed gaining 8 10 of 1 . Investors are looking more for safety, less interested in risk assets. There is a lot of conviction in equity markets in particular. At the open, we saw volumes basically double over the past 20 days or so. We are still looking at volume over 24 above the 20day average. A lot of conviction in the selling we are seeing. We are seeing the cyclical rotation we all have been so excited about in recent weeks totally reverse quite dramatically. Industrials, financials, materials are the biggest laggards. Tr
From the bloomberg terminal. A 2 trillion dollar wipeout. U. S. Equities see their worst rout in 12 weeks. Is there more to come . The precipice of disaster. Americas fourthlargest city but it may reimpose Steven Mnuchin says the country cannot close again. Plus, european banks close to Capital Requirements. Just under an hour away from the start of trading. Futureske a look at after the big drop we saw. Saw drops in asian stocks overnight. If you look at yesterdays cash a drop in the dax. 559 points. 559 point drop. In terms of u. S. Futures, we see a little bit of green on the screen. 1. 5 gains in s p and the dow. Can news on the u. K. Economy, lets get straight to that. The u. K. Economy shrank by 20. 4 . That is versus the previous month. Dropstimate had been for a of 18. 7 percent. 19 or so. It does show a stunning drop in output for the u. K. Economy during specifically the month of april. The u. K. Went into lockdown around the month of march. We are getting some other numbers
Memorial day ended up being a working holiday for state officials in response to the pandemic and its economic effects. The department of Public Health releasing new guidelines on shopping war shipping and protesting. California continue to lift parts of it stay at home order monday allowing churches and other houses of worship to reopen so long as attendance is limited to 25 capacity capping at 100 attendees the state says congregations must also implement employee training sanitation and physical distancing Standards Health officials suggest requiring face coverings for singing and group re citation or eliminating them altogether. The state is strongly recommending churches continue with Virtual Services but leaders of 3,000 places of worship say theyre ready to resume in person this week i heard one pastor, good like thats. During a Church Online is like watching a campfire on television. It just isnt the same you know still work another green light given monday in store shopping is
Were fairly good evidence that originated in animals and at some point jump over to humans and then became capable of being transmitted between humans. We dont fully know when that occurred. The initial outbreak was detected at the end of december. Its likely started a month before then but possibly earlier. Host how does the jump from animal to human . Guest that mechanism is it now but its likely a human came in contact with an animal that was infected and that virus mutated all of it so we could live in humans and then became more adapted to being in humans and then able to spread between humans, got thens right receptos to bind to the human lungs trim is it ingesting or just touching . Guest its not larger to be spread by droplet transmission. Somebody is symptomatic can expel virus and they can expel it directly on you or potential on the service you then touch and touch your face or nose turn with what about from animal to human . Is it that they touched this animal or they ate t