reaffirmation on the american labor economy in this hour, claims, and all of the various numbers that come out with it. forget about the markets. forget about the chancellor of the exchequer actually dealing with the united kingdom labor market. it is a question of millions out of jobs. jonathan: permanent job losses as well, and permanent shifts in the economy. that s got to be my big take away, government confronting the idea that perhaps we are seeing permanent shifts in the economy, and they need to allow that creative destruction, the powerful transformation of capitalism to take hold and maybe step back a little bit more. i ve got to say, some people will push back aggressively against that and say this is a pandemic, it will pass, and perhaps we will get some return to normality. that will be a debate for the several weeks, months, and hopefully not the next several years. tom: david kostintom: will join us from goldman sachs with an important discussion on the equit
commercial bank. begins a newwell era of news conferences after rate decisions. we are on the lookout for signs of further dovish miss. nejra: welcome to surveillance, i m nejra cehic in london. into the trading session, we are really struggling for direction on the stoxx 600. you are seeing a mixed picture in terms of industry groups. we have just had italy, manufacturing confidence falling for months, the lowest since 2060. we are building a picture of global growth and lack thereof. meanwhile, as an fee futures edging higher by .2%. it was really the nasdaq futures you wanted to see them, we are seeing more of a umpire. apple bump higher. are investors buying the messaging that it is not all about the iphone? the 10 year yield up just one basis point. of the fed, it will be key messaging from jay powell in terms of how he talks about patient, but also around the balance sheet. markets, a bit of a recovery. they plunged yesterday as perhaps the prospect comes to the for
the hang seng market was up and so was the shanghai. the dax was up by 1.4%. the cac up by 0.9%. the ftse up by a quarter percentage point. if you check out crude oil prices, you ll see crude oil is under significant pressure once again today. down 1.38. down below $47 a barrel. 46.98 is where the july contract for crude is trading now. let s get you through today s agenda about the labor market. may jobs report out at 8:30 a.m. eastern time. non-farm payrolls forecast to ride by 184,000. that s following an increase of 211,000 back in april. the u.s. economy added jobs for 79 straight months. the unemployment rate expected to hold steady at 4.4%. the lowest level in a decade. russian president vladimir putin will be speaking in st. petersburg at a forum alongside several other world leaders including india s modi. the session will be moderated by nbc s megyn kelly. that begins at 7:00 a.m. eastern time. a programming note, sunday night megyn kelly has an interview with the
mark: let s get the bloomberg first word news. here is sebastian salek. sebastian: theresa may says parliament should be allowed to taking britain out of the european union. seemed to come after they dumped the pound of a concern the pm was taking a gung ho approach. by a third following the note 7 crisis. the company said profits will come in at 5.2 trillion one, won, down.llion donald trump has gone on a twitter offensive, blasting paul reid paul ryan as weak and ineffective. the shackles have now been taken off of him after ryan condemned his comments about women. the nominee continued his campaign speaking in panama city. this election will determine whether we remain a free country , or we become a corrupt, banana ublic controlled by large and foreign governments. the election of hillary clinton would lead to the destruction of our country. againstn: fraud charges to a junk rating according to investors. the possibility of an increase in borrowing costs back o
breakdown six out of 10 are down. this feels like a delayed reaction to the minutes from the released thatting is sedated take more hold interns of investor psychology. joe: deathly a continuation. todaye down one big loser with the financials which were big gainers yesterday. we had a steepening of the curve. banks gave up their big losses. alix: european stocks fell the most in two weeks. the day looked relatively ugly. now that we have closed off those lows it was an impressive seachange. to point out some changes. the s&p is a straight line kind of down. ,hat orange line moving average you don t want to see it break a long turn moving average. definitely a technical level to watch. what helped the markets has to be retail. in particular, walmart sing the best rally in seven years. .dding 40 points you can see how ups extreme it was. macy s, target. everything going lower. joe: target earnings, that was a surprise. the government bond market. we saw a big jump in yields.