As the action ultimately turned negative today down. S p declining. 80 and believe it tech and 234nasdaq plunging 1. 6. This month the market is led by the covid winners, the names that do fine when the economy is frozen those are not the stocks that lead us higher when times are good but as we saw today, covid plays could lead lower when the economy is improving are we finally emerging from the trough lets consider the case here first, you need to know. Were in a dangerous place its dangerous to be where we are because you can never tell if the economy is really at an Inflection Point until after and even if it is, covid stocks make up the average and drag down everything were now in the third day of this rotation with the Fastest Growing covid winners, industrials, travelers, retail these groups struggled to find their footing because they are covid losers but now in the morning today but the last two days, they are on fire i mean, did they give up the ghost at the end of the day . I
Generation keim. He resigned as parliamentary vice minister for Foreign Affairs after the raid. Prime minister Kishida Fumio says its regrettable that the situation has aroused the publics suspicion. He declined to discuss it further due to the ongoing investigation. But he says the government will continue to promote Renewable Energy policies. Japan Wind Development denies bribery. The company failed to join offshore wind Power Generation projects. The government held biddings for them between 2020 and 2021. Akimoto brought up the bidding process during a diet session in february of last year. He asked for evaluation standards to be reviewed. The government later changed them. Akimoto was involved in drafting a bill several years ago on promoting offshore wind Power Generation. He did not respond to questions from reporters when he returned to japan from an overseas trip on thursday evening. Two u. S. Navy sailors have been arrested and indicted on charges of leaking sensitive militar
Offal industrial conglomerate said the changes on the same call he apologized for the companys performance. So far this year shares of this widely owned stock are down 40 . Today after announcing ges turnaround strategy, the stock lost 7 of its value on very heavy volume. The worst day since 2009. Morgan brennan takes a look at the road ahe cut dividend, cut guidance, cut assets, those cuts are the crux of general electrics new strategy under sdwraun flannery. Today flannery outlined big changes for the struggling industrial giant. Going forward, we really have to focus on how we can create the most value of portfolio of assets we have for the owners, and well do that with a very dispassionate eye. Reporter ges dividend was cut today, reduced by half, as the new ceo looks to drum up cash and remake the company. Ge has long been bought for the payout, with about 40 of shareholders retail investors, many dependent on the income. Still the move was widely expected. What wasnt was the guid
Confirm that. ,onne this is daybreak asia live from bloombergs asian headquarters in hong kong. Ramy betty is out today, i am david ingles. This is the first major market open here in the asian pacific. Lots on the play. Talk the ecb. E to it seemed like it was all about inflation the first time around. It is just not there. We look ahead to mario draghi and taper talk. There is talk about when auto maxx will stop start. Were expecting to go into this trading session with the stark contrast between the boj and ecb. The adjustment you mentioned we saw in the bond markets and currency markets. And the euro. S the dollar is stronger. The euro back to levels of what yvonne 23 month highs, remarkable. The whipsaw, we have a chart. I have to show it off. Twoentioned about those year highs for the euro. We saw whipsaw after the statement came out. It went lower and ran back up as soon as mario draghi started speaking. As much as he wanted to keep that the discussion vague on the timing of tap
Welcome to power lunch. Im melissa lee. Stocks right now are mixed actually all in the red right now. Amazon, though, hitting a new alltime high in todays session. Same for tesla, that stock trading above 300 a share for the first time ever. And take a look at gold hitting its highest level since february 27th. Tyler . Melissa, thanks very much. Im tyler mathisen. Glad you could join us on a rainy tuesday in new york. Here is what else is happening this hour. The u. S. Trade deficit falling in february as exports climbed to a twoyear high. Cleanup efforts under way from texas to the taerls after another stripping of severe storms ripped across the south. Five stormlegalitied deaths reported. And tony romo apparently hanging up his helmet and cleats for a microphone. Espn reports the cowboys quarterback will end his 14year nfl career and go into broadcasting. Michelle . Welcome to the business. Thanks, tyler. Im michelle carusocabrera. We have a lot to do today. We begin with a big head