Will not. He made maybe that will happen, maybe it will not. ,s you rightly mentioned francine, today the pandemic is again front and center. It is without question a different thursday than it was a week ago thursday, even two weeks ago. Once again the pandemic worldwide, and in selected states in america, really is front and center. Francine it certainly is, and that will be the main themes running through our program. Thats get to first word news with ritika gupta. Ritika good morning. A second wave of coronavirus cases is in the u. S. Texas reported its highest oneday total since the pandemic emerged, and a month into reported, florida 85 new cases, the most in a sevenday period. Still, surges cannot be linked to reopening. A powerful message from Federal Reserve chairman Jerome Powell, saying the central bank will keep pumping stimulus into the economy until the labor market is healed from the coronavirus pandemic. The fed is not even thinking about raising Interest Rates. Policym
Will accept junk, recent fallen angels as collateral. Time now for todays market moving news from brussels in new york. We want to begin in europe, where the pandemic drove the economy to a record slump in april. Pmi Area Services completely decimated, falling to 11. 7. Manufacturing also dropped to 33. 6. Bloombergs maria tadeo joins me from brussels. Maria what you are seeing is that the Coronavirus Crisis is going to do a lot of damage to the european economy. [indiscernible] brussels tell us they do anticipate a contraction for the entire euro area. This is potentially huge. Youre seeing again the European Central bank stepping in to try to shield some of those markets, in particular in countries like. Taly ,he other side of the equation what exactly are european leaders going to do to help the ecb, to put more money on the table and also protect their own economies . There has been a lot of backandforth. Perhaps a 2 trillion euro package. But all of this is still very much in the
But we were substantially higher earlier in the day. When you look at treasuries, there was buying all day in treasuries. Lets dive deeper into the action with our different reporters. I am thinking about volatility. Todays decline does not seem that big. But it is the same fiveday decline since last august. This is what we will continue to see. We had a long stretch of small moves. We have a couple of moves. 10 year yields are already at record lows. The ratio is worrying. Its Predictive Power has somewhat weekend. Renita i am taking a look at ge at the close. Their reports showed no new negative news. Ge shares are now down more than 1 . Joe i am looking at some of the action here. We see booking. Com down 4. 5 . What is about them is they have been really in the eye of the storm with these coronavirus concerns. Anything related to travel or going out. Amc, the Movie Theater chain, down. Live nation down. That will months to bet on people going out and traveling. You can see that com
You can see 87 points. Bernie sanders is the front runner for the dems, does that mean that chance of broken convention are going up, democratic insider robert wolf will be here to game it all out for us, the deadly coronavirus playing havoc as the consumer economy chugs right along, oh, yeah, less than an hour to closing bell, im Ashley Webster in for liz claman; lets start the claman countdown. Ashley well, lets get some breaking news right at the top here, u. S. Jury on friday has found Michael Avenatti guilty in criminal trial accusing the celebrity lawyer of trying to extort nike out of millions of dollars and to defraud a youth basketball coach that he represented. The lawyer was all but unknown until 2 years ago when he began representing the adult film actress Stormy Daniels in lawsuits against President Trump and making hundreds of television appearances. Lets get back to stock news, smile direct club by the way plunging after an nbc news story that ran that listed complaints
Course as tensions in the middle east are very high also new chapter for u. S. Cosmetics giant avon its not part of the brazilian personal care group nutura the groups new ceo will join us later this hour. Stocks are extending a selloff, oil and gold prices continue to climb. This is iran and the white house, trade threats following of course the u. S. Air strike that killed irans top commander. Jim, happy new year. Happy new year. Nice to see you, my friend. Good to see you, buddy, way too long i missed you. I know you feel the same but i havent heard you opine on this market and what risk there is in the geopolitics, in the backandforth, our viewers im sure are familiar with the president s tweets over the last lets call it 24 to 48 hours, sort of saying weve identified 52 sites that we would take action against if in fact you do something, and also notifying the congress, he said, as well, if iran should strike any u. S. Person or target wed quickly and fully strike back, perhaps in