Downing street. Lawrence the cat, move over. Francine just an hour ago, the Prime Minister Boris Johnson announced the healthy arrival of a brandnew baby boy. Baby johnson was delivered safely this morning. We do not have a name or photo, but there is a lot of messages of joy from people across the world because Boris Johnson is or g20y leader of the g7 to catch coronavirus quite badly, needing almost four days in intensive care just two or three weeks ago. Tom i have been watching the glideh give us the path. Give us the update on milan. His the virus done in italy is the virus done in italy . Francine this is something variola just with virologys with the heads of state are trying to figure out. New zealand, they have only had 19 deaths. It is difficult to have a complete walk down. Lets say you flatten the curve. Keep people and lockdown forever. If you are in a region that is part of a bigger country, it is much more difficult to find the right balance of not hurting the number of
10 year. Crude now below 30. And not emphasize enough how much pain that will be causing to producers. To get a sense of where we are in the market, if you switch of the board, you can see some of the heavy hitters within the market, like apple and microsoft, down 10 , 11 . Also seeing bank of america off by 16 . The index which tracks the s p is down by almost 10 . Again, a world of hurt within the next two and half hours. We have some breaking news. The boe is pledging further prompt action when needed. No specifics on that, but they are pledging action as needed. We will bring you anything, any information as they come out. They said the dollar move to combat is there. This is governor bailey. Time now for global exchange, where we bring you todays market moving news from all around the world. From new york to washington, brussels and beijing come our bloomberg voices are on the ground with all of this mornings top stories. The Federal Reserve swept into action yesterday, cutting it
Half a dozen fed officials speaking today as the growing rate debate simmers. Speaking of the fed, two perfect guests, both officials who served on the fom, Sarah Bloom Raskin, coming up before the close today. Joining us final hour of trade, josh, nice to see you. Happy to be back, sara. 212 point rally here. Are you buying into it i think whats interesting, the answer is yes. I think whats interesting weve done nothing, given headlines, back to early august, essentially flat im not suggesting thats a bad thing. In fact, bulls would say look how much is thrown at the market in the form of tweets and deals and nondeals and fed volatility. In the meantime, yields havent even stabilized. Yet were still hanging in at these levels i think whats important, give the edge to the bulls. Weve been testing resistance in this range the upper side of this range, more than weve been testing support. So slight edge to the bulls. You look at xly, xlk combined sam will probably correct me, probably 30
Asia a new benchmark lending rate, 4. 25 down from 4. 31 that help stocks early in trading and the hang seng and shanghai gave up those gains. Hang seng down by a quarter of a percentage point stocks in japan were higher. The nikkei closed up by just over half a percent. In europe with the early trading taking place youre going to see that at least the three major averages are in the green right now. Germany just barely. Its just above the flat line but the cac is up by a quarter of a percent stocks are weaker in italy and spain and then if you check out the treasury yields here in the United States, this again is what the market has been watching so closely. Those yields lower today the ten year note sitting just below 1. 6 the two year at 1. 518 and the 30 year bond is above 2 but just barely 2. 04 . Home depot reporting 317 a share. Thats above 308 thats what the consensus is however the revenue indicated 30. 984 and its at 30. 8. So the stock is indicated at this point down a littl
Coming in better than estimated at 18 billion, adjusted earnings coming in at a beat as well. To thears adjusted high, crushing estimates. That stock is up now by 7 10 of 1 . Going to be interesting to see the commentary on the call as well. Guy we were watching david we were watching ups particularly because they are sensitive to Global Growth and trade flows. The fact they did so well is really encouraging. Ceo atspeak with the ups the noon hour on balance of power. We have General Dynamics out with earnings, which i have to get up. Yeah, let me see. I can say that glasgow is out, and they raised estimates. David General Dynamics earning per share, 2. 77. Theres a nice beat there. Revenue was 9. 6 billion compared to 9. 3 billion estimate. This is a continuation of what we are seeing in some of the Defense Sector stocks. The Government Spending a lot of money. Northrop grumman out earlier, and the stock seems to be doing well on its earnings. It is up about three quarters of 1 in pre