Well tell you why traders are betting on an even bigger run. Later, airlines lower as they prepare for what could be a slow september the former ceo of continue nenal airlines will be with us to explain what the new normal may mean for travel stocks kelly evans is back. Welcome. Power lunch begins right now its the s p 500 sitting close to its record high now the wild market ride has brought a resurgence of the retail trader bob and kate are standing by with more. Bob, lets start with you in these record highs we are on new high watch and for the s p as well as the nasdaq and whats brought us there, thats a very familiar pattern. We have seen it many times its essentially Technology Stocks thats with megacap stocks moving on the upside sectors, its technology thats been leading the way we see banks, energy and industrials lagging there. We had many rallies in those cyclical value names banks, the energy and the industrial names over the last few months in various occasions including ab
September. What is interesting, with the this on the screen, unconventional transaction of tesla. Additional 5an billion of shares geared toward perhaps the nonmainstream, the nonwall street crowd. Tesla is interesting because people using bubble with stocks. 2 tesla. Tom a recent secondary, even with moonshot on the markets. This will not be publicly offered. It will be Equity Distribution and distributed by banks as tesla chooses. Somewhat akin to what we saw with lesser successes. Here,l be widely studied the why of this transaction as well as the need for 5 million they are looking for. Here andarkably up big still elevated from where they were. What else are you looking at . Ina the story today markets, aside from tesla, is the dollar and the question of whether people are going to say this is the end of dollar supremacy or if this is just an indication of the low yield, the negative real yield and this idea of global trade. It is the two sides of the story. Tom not only yields do
Before it gets better. U. S. Secretary of state mike pompeo urges the world to stand up to china. In a separate report accuses beijing of digital. We work to convince the Chinese Party it is not the best interest to behave in this behavior ceo warns of tough times ahead. When we went into the group, we knew that would be challenging with all the shut downs in different parts of the world. We saw recovery in china which was remarkable we have seen a weaker u. S. Affected by the pandemic dutch paint maker says material costs will have a positive impact. But ceo warns the virus will continue to weigh for the rest of the year. We will continue to see ups and downs. It is lucky it has been balanced between Home Improvement and the market we feel it has been under control and stay vigilant. A warm welcome to street signs. I want to start the show with the update on the latest numbers in the states. More than 1,000 people died from the virus in the u. S. Yesterday for the first time over a mo
The bank of france governor who is also an ecb board member says the Central Banks emergency purchasing plan needs to be flexible to be effective suggesting further bond buying could be on the way. If we cant to guarantee the maximum efficiency, we shouldnt be bound some capital banks should be able to buy more and others to buy less the World Health Organization halts trials of hydroxychloroquine over safety certains as studies show it increases death and heart problems happy tuesday, everybody and welcome to street signs. Lets kick off with a top story involving the travel sector. The German Government plans to lift the travel warning by midjune confirmed by cnbc sources. The new measures will allow tourists throughout the union, United Kingdom and foreign noneu countries taking a look at travel and looers stocks. Massive rally. Those shares up. Tui up more than 30 bare in mind, you can markets were closed as the broader uk market rallied a little catch up there. Broadly speaking, a
Silence. Bloomberg will be covering those events through the morning. Alix 18 years. In the markets, you have seen the s p hold steady, but the churn beneath it has been quite staggering. A huge, unbelievable shift, added momentum into value since value weeen into have seen since 2009. Youre seeing some buying in the bond market. Yields down by about two basis points. Over in europe, couldnt decide on a bond bear or bull day. Time now for the global exchange, where we bring you the market moving news from around the world. Joining us are bloombergs enda curran in hong kong, in london, emma chandra, and Michael Mckee joins us in new york. The Hong Kong Exchange made an unprecedented 36. 6 billion offer for the london talk exchange. Bloomberg london Stock Exchange. Bloombergs enda curran has more. Enda obviously this is a very ambitious corporate transaction. , itably more importantly would be a real test of Investor Perception towards hong kong. Remember, this raises all kinds of questi