Welcome to all it is going to be a very nice weekend i think weatherwise. Lets go right to steve who is going to give us what it is going to be like steve . Spot on theyre going to be cooler from us some of the fog is retreating already at least it made today onshore breeze is in place. I can sometimes ukiah, clearlake brentwood, areas takes another day or so. Trend is to take temperatures down not up, cool off a good 5 to 10 degrees yesterday. Cooler from us, coast and bay fog retreating back to the coast easy to wendy getting in onshore wind, at the airport, travis mackinac, davis north northeast. The difference there, still 77 once it will still be in the mid90s. Lakeport, brentwood as well locations down already. Cooling off santa rosa, 14 compared to gets at this time, a huge deal oakland 7, hayward 6 even concorde 5, temperatures on the way down just a heckuva system this time of year going into the Seattle Portland area. Flatten the ridge of High Pressure for us reload, not unti
On in hong kong with china over the weekend saying the security law could override hong kongs legal system. We she we see shares on the hang seng. 23,469 for the hang seng. The csi 300 pointing positive. Showing the resilience across these benchmarks. The kospi as well, we did get those export numbers. A slump easing a bit. Not very encouraging when it comes to exports of chips. Only a gain of 2. 6 . We saw a 13 advance in may. Perhaps this recovery is in an early nascent sense. The p cop, lowered by 910s of 12 . A decision coming through bank of centro and the rbnz later this week. Later on when it comes to assets, the disappointment has been with the china lpr, which they did not do anything. Given the credit numbers we have gotten, perhaps it was reason to pause. The selloff in bonds, are we going to continue to see that change . Ozzie yen, you are seeing a perk up aussie again, you are seeing a perk up. The dollar is rising for a fifth day. We have seen some flareups in australia.
Twoyear is now trading, but that doesnt seem to matter. The majority of debt in europe all undergoing this powerful rally, despite the fact that we are going to see horrific unemployment number in about an hour and a half. Lets get you out of the market moving news from our new york team. We want to start with the much awaited u. S. Jobs data out of april for the next hour. Economists now estimating 22 million jobs wiped out in the past month. Joining me now is carl riccadonna, bloomberg chief economist. It is hard to put these into perspective. Help me out. Morning. D these numbers point to immense disruption in the u. S. Economy, on a scale we really have not whichn recorded history, goes back to either world war ii or the great depression. ,o put some context around this this is far more than all of the job losses we saw during the Great Recession concentrated into a single month. If we take the job losses of the last nine recessions, lump them all together going back to the late 19
Rally, talk about a turnaround. South korea, hong kong, japan investors moving away from haven place. Remember, china had been quite an out performer. The hang seng currently up 3 . We are hearing chinese buyers are buying up those stocks in hong kong. Lets look at where futures are setting up. We see futures pointing to a higher open. It has been a volatile right. Ride. Futures volatile equity futures down about 1 despite jumps in the s p 500 and the dow. Aide, saying that the deal may not be up and running just yet. Flip the page and look at where we are, the kiwi dollar tokening further, starting buy bonds to stimulate the economy, and look at that, down 1. 7 . It is moving just like the stock market. People were saying bitcoin was a haven play. for more context in the markets, david ingles our coanchor joins us. David, could we say this is the end of the route, or a bear market rally . David it is hard to say if this is the bottom. Once markets stop reacting, that is when you know
Pres. Trump thank you very much. We just completed a very good meeting of the Coronavirus Task force and they are really doing a great job, our professionals. The results are very good. And when you compare this to what is happening around the world, we are very proud of our people. And there has been a tremendous amount of coordination with with cities, they are a smaller form of government and , things are going well. They are coordinating with us, and i think certainly california has been terrific, the relationship. New york has been really good. Weve had some really good relationships in terms of the hotspots, and we are focused on those hotspots. Some areas we have no problem whatsoever and we hope to keep it that way. Before i turn this over to our great Vice President to provide an update, i want to express my appreciation for the hard work done by the people behind me and the people back in the offices, including the fact that i just left the oval office, and we have people the