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High where we were about a month ago but the Dow Jones Industrial average having it best weekly gain on a percentage basis going back to 1938. That is get back into our conversation. Tte is still with us. Chief investment strategist. Scarlet fu is with us and Joe Weisenthal as well. Joe, you want to pick this up . Joe i am struck by a rough selloff once again going into the closing, going into an uncertain weekend. We can be certain we will see a lot of headlines of rising case counts in more cities across the u. S. And europe. They are not slowing down the way we would like to see yet. The other headline is this has been the best week for the dow since 1938. I dont remember the last time, if ever, we have had so many superlatives in a week going back to the 1930s. Brent, back to you. Let us get more into the headline vacuum we will get into. We will not get instant pol ....
Big stimulus deal coming, and in the words of may 2 pelosi, that could be within hours the words of nancy pelosi, that could be within hours. Bloomberg u. S. Dollar index is down by 0. 9 . London in the in u. K. As well. Guy a lot going on in europe. Pmi data out a little earlier on that were absolutely bad. We have never seen numbers this bad. Despite this, we are seeing sterling rising today. We are seeing the euro catching a bid. But the pmi numbers really are portending to a very grim economic gdp data coming down the pike towards us. We have the stoxx 600 up by about 5. 6 . Bond yields selling off, so at least that seesaw is working. We are also seeing a pickup in the price of brent crude. Statement, the g7 calling on opec and opec to try to provide some stability and it comes to the crude markets as well because that has been a major catalyst for this downturn as well, the oil shock we are currently experiencing. A you say, the big news from european point of view is likely to co ....
Biggest gain ever when it comes to wti in terms of percentage. We are losing steam there. We are not seeing a whole lot of movement here today. The offshore is slightly weaker. It does not seem like theres a whole lot of patterns you can actually string together here now that we are excluding japan. Ending the week back to where we started. Tom weve had another downgrade, another cut to forecast growth. Malaysia cutting its 2020 gdp growth estimates to 2 . A contraction of 2 . They are cutting their estimate to 2 on the coronavirus pandemic. Morgan stanley have upgraded malaysian equities. We will speak to Jonathan Gardner later in the show. We can has kim about the applications of that. Another grant outlook for malaysia. Worldwide cases of the coronavirus have reached more than one million infections and counting. Our chief north asia correspondent joins us on the line from hong kong. This is indeed a bleak milestone. Stephen ....
From President Trump bnp and santander announce they are amid the payout 100 billion scheme to help the answer is after the sanitary crisis to invest, invest, invest thats what europe is going to do so this european data, not very pretty. Numbers are coming in significantly weaker they are even weaker than the flash estimates. The final composite pmi come in at 29. 7. The flash estimate was 31. 4, the final services pmi 26. 4, the estimate 28. 4. The estimate 28. 4. That is the lowest level for the Financial Services sector since the survey began numbers reinforcing the collapse in the eurozone. Final Business Expectations 33. 5 the flash estimate 34. 8. Just by terms of comparison, the february number on that was 30. 3 where are the green chutes the february survey 51. 2 many of these numbers are now ratchet ....