Be playing into sentiment. All of the sub indices in the s p 500 are lower now. A real pause in earnings reports from the Oil Companies to amazon, down 7 after saying it would likely spend all of its operating profits on covid related preparations to protect employees and customers. Also saying that revenue increased, which was a positive sign out of amazon, but again, investors selling that stock today. Barrelil was above 20 a , so i bit of a recovery, if you want to put it that way. It certainly doesnt feel that way. Then we had the ism manufacturing data earlier which really cast a pall over the earnings outlook. Ecb president Christine Lagarde is forecasting euro area Economic Growth to shriek as much is 12 this year. This is the central bank announced a series of further that effectively amount to do an Interest Rate cut. Thanks on the front line of the economic recovery puts banks on the front line of the economic recovery, but does it go far enough . Ofh us now is Marilyn Watson
We are waiting for that bricker hughes baker hughes breakdown. We had six straight weeks of declines. On a decline coming into this week. Total rig count is 408 according to baker hughes. We are still waiting for some of the oil rigs specifically to come in. When we get that data, we will come back to that. You can see crude prices are up 3 . Overall in the last five days, the Energy Sector has been a pretty poor performer. Performer today but still on track for six week of gains. It is the best week going back to april 10. The largest of streak you have had since may 18. You are getting some of that rig count data falling to 408 rigs. I want to look at the canadian dollar. Getting some weakness relative to dollar strength. Bank of canada named a new governor, going back to a veteran who led in the 2008 crisis. Finally, it is all about the individual stocks we are watching. Reported operating income next quarter could be negative. American getting a price target cut. One dollar a share
More protection, the ecb tweaks policy. The economy ravaged by the coronavirus. Ftse futures point lower, and much of europe is closed but we will see trading in london. Apital is coming apollo aims to raise 20 billion and several new funds for opportunities in distress and private debt, this after boeing sold 25 billion worth of bonds in the largest offering of the year. Just under one hour away from trading in the equity markets that are open. London notably, and the ftse futures are down this morning. We also see s p futures, dow futures, and nasdaq teachers down. Nasdaq futures down. We know the u. S. Markets will be open as well today. Typically a european holiday. The u. S. Has detonated a different has designated a a different day for that purpose. The notable figure, the first one i see in the First Quarter, 802 Million Pounds versus 86 Million Pounds in the previous year. This is a number we are looking out for a lot of banks during this crisis. Newsrms of other notable from r
Interview with Michael Oleary is coming. Good morning. Also happy friday. It has been a long week. This is what your markets are doing and a lot of folks about what we heard from a we heard about will we heard from the European Central bank. We continue our earnings outlook. Was tech yesterday companies. This is what i am looking at, dollars up. U. S. Futures are down. Treasuries advancing. If you look at trading, holidays across many major markets. Gdpecb coming out with calls saying it could be it could rebound. Of course, this year that gdp could shrink between 5 and 12 . Year will be next a lot better. We will have the more forecast. Figureseuro area gdp being published. We will delve deeper country by country and give you an update. Lets get to new york city with the first word news. Viviana we begin with the u. S. Federal reserve expanding the scope of its main Street Lending program. Businesses with up to 15,000 employees will be eligible. Expandingl bank is its paycheck protect
And the estimated number of deaths we will get ism today. Adp is out several european banks are spending dividends jim, how much of this mornings action does reflect the grim picture that the white house set forth yesterday . Its difficult to imagine how, lets say, optimistic people were versus what the president said last night. I think many people in the stock market understood that the numbers were completely understated. You did leave the office saying, wow, that could be just terrible because they didnt caveat it as much as you might have thought they didnt say, all right, but were doing great in this state, this state, this state they said look, this is the reality. I think the reality rolls back some of the 19. 9 gain we had last week in the s p then whats going to roll back the rest is if we have credit problems ill defer to david. David knows behind the scene what day it is today today is the day youre supposed to pay your rent david, a lot of people wont make those payments,