Across the americas. The spread is unacceptable. South korea braces for a second wave. Lenders are backing away. Bank of considering cutting a credit line, writing off its and calling it quits. We are just getting some indications, early indications of the economic rebound in australia. The cva australia pmi manufacturing preliminary number for june bouncing back. Just in contractionary territory but certainly much better than the 44 from the previous reading. The Services Number also much better i we get parts of the Services Economy reopening after the restrictions coming in at 53. 2. The previous reading was 26. 9. That composite number for june, 52 point six. 28. 1 and out of contractionary territory. That is a preliminary reading but things looking a bit more positive. Also looking positive for asian markets, lets get over to Sophie Kamaruddin for a look. Futures are in the green with s p eminis and he restocks resuming gains while the aussie dollar remaining on the on foot at the
The National Guard is ordered out of washington as people protest continues. Lets check on the markets. Saw ong those gains we friday, resuming the rally on better than expected jobs numbers from that job support. We are seeing new zealand trading higher. Bouncing back from the friday selloff. Sidney, we dont have trading today due to the queens birthday, long weekend. We are watching the aussie dollar. In terms of u. S. Futures, we have seen a pop up of about 0. 5 . Lets look at the oil patch. We had the extension by opec in the alliance. We are seeing upside when it comes to crude, up by 1. 6 . New york crude just over 40 a barrel. Continued gains when it comes to commodity commodities related currencies. Sophie protests continue across the u. S. And around the world as some of the largest crowds gathered over the weekend. The demonstrations have been largely peaceful. Cities have lifted curfews and President Trump has ordered the National Guard out of washington. A bloomberg editor
Hold on. This is a tease. Stealing the thunder already this thats right, we are going to talk about this in just a moment anybody still on radio has to wait a second. Take a look at the futures this hour dow futures down about 170, s p off by 2 and nasdaq down by 81. Yesterday, nasdaq down about 1 . Crude oil prices, lets check that quickly we had been watching that contract build up. The july contract build up to just over 34 yesterday. Lets call it even at 32. Then there is the treasury market weve been watching youll see the 10year note has been yielding 0. 64 . A little pressure there too. Take away. With that tease, it feems like months now, weve had really big guests and corporations a big interview at 8 00 a. M. Eastern. Well talk all things economy with former Vice President joe biden about the pandemic, the race for the white house and so much more. Well do that at 8 00 a. M. Live with him a big interview to look forward to on this friday. Tgif i know all the days roll togethe
With Second Quarter volumes that may fall as much as 25 . Ap mollermaersk, the shipping company, said Second Quarter volumes will take a huge hit. You see a top german judge, one top german judge says the ecb is not the master of the universe and must be held accountable. This is Angela Merkel and Emmanuel Macron agreed to open the france germany border. U. S. Medical advisor Anthony Fauci ways in on the Market Sentiment, warning against reopening too soon. Stanley druckenmiller adds to the downbeat tone, saying the equity risk reward is the worst hes ever seen. Finally, a loss in the First Quarter. Putting aside one third of one billion euros for virus provisions. We speak with the chief Financial Officer between or lot in the next three minutes view minutes on the effect of the coronavirus. Ap mollermaersk, First Quarter revenue beating the estimate. 10 billion. 9. 57 billion in the First Quarter at maersk. The estimate was 9. 36 billion. The ceos who we are going to speak with momen
Markets. All i have to say is, what a risk on rally we are seeing. The mystic stocks are the big out performers. The russell is outperforming the s p 500 for five straight days. Lift up of 10g a basis points on the 10 year, the highest since march 19. I cannot remember the last time i saw a 90 basis point print on the 10year. Further weakening on the dollar, weaker for seven straight days, nine of the last 10. You wonder what that means for the fed Going Forward. Lets get perspective from kailey leinz. What do you take from this market rally . Kailey i want to start with technology. The nasdaq composite is set for a record close, as is the nasdaq 100. If we can see how that index has performed this year, it is like this a lot never have been. Now 2 above the record close in february. You can bank microsoft, amazon for those gains that we have seen. Positive by now 12. 5 on the year. It is not Just Technology outperforming. It is the more cyclical growth sectors that are leading the way