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Election delay. Another wave, the u. K. In france report record daily virus cases. Good morning. Session volatile yesterday on wall street. Action, s p 500 futures are in the green. Flat on the year on the index. Alongside 50 up 0. 5 asian equities. Dollar index had a firm week, little change this morning, but we are up or the 1 , biggest weekly gain since april for the dollar. Nymex crude getting a lift, 40 a barrel. U. S. Equities, a volatile session fluctuated yesterday erasing this years gains briefly. The jobs data disappointed on top of stimulus talks. Dani burger is digging into it for us. Dani anyone trading yesterday is suffering from whiplash. We did get the s p 500 erasing yeartodate gains, and today it 0. 5 , unclear whether we will get that are not. We had converging forces between hopes for forces, poor jobs numbers, and new housing data that was optimistic. Thing that might comfort about what we saw yesterday, we are getting close to a correction. We need to drop 0. 8 on ....
Its lows and the s p is higher again thanks to banks. Up about one quarter of 1 , theater and on the 3000 level. As he can see, we were watching for the last few hours with the offshore one trading just below 719. A big fiscal stimulus package proposed as well and that spreads, narrowing the italian german tenyear spread. Lets get a deeper dive in the s p 500. Mentionedthree stocks on the call to investors a short time ago. Effect ond quite an how they have been trading. 2 . Hotels, still up quite substantially after that announcement. I look at the nasdaq and it is the second day in a row it has fallen. Facebook and microsoft, sectors of the market, sensitive stocks are the ones outperforming today. Is shifting the dynamics of the broader market. Make a caps on what contributed to the u. S. Market dominance. Youre looking at the s p 500 relative performance, were seeing the relative outperformance to small caps. The s p 500 although it back in may of 2018. Small caps were reflecting o ....
The cash trade is an hour away. Lets get your top headlines for you off of the bloomberg terminal. Operation work speed. President is organizing a Manhattan Project file effort to fasttrack a coronavirus machine. Big pharma will work with washington and the military to develop it by years end. Lasting damage. Jerome powell voices concerns about the longterm fallout from the outbreak. Attention turns today to Christine Lagarde as economists expect the eurozone economy to pump the most since the Second World War. Grenada cuts. Norway joins opec in slashing oil output. We will see shortly what the ceo , after exxon mobil throws its dividend for the first time in 13 years. Just under an hour away now from the start of cash equity trading across europe. Lets take a look at futures here. We have gains on the euro stock ....
Ago. S p down by 151. And the nasdaq would open down by about 435 points this is limit down, they cant trade lower than this. Declines at 5 across the board. If this holds at the open, heres what you can expect in terms of the nyse Circuit Breakers that kick in. If the s p 500 dropped by 7 during the course of normal trading, trading halts for 15 minutes to have a cooloff period if it falls by 13 , it halts for another 15 minute period if it falls by 20 trading halts for the remainder of the day since these were implemented many years ago, weve never seen the levels tested. If youre watching the treasury market this morning, the ten year, almost impossible to believe watching how quickly things have fallen the ten year is yielding 0. 487 . Its been less than a week since it fell below a 1 yield and we have seen it collapse. Thats a bounce from earlier. So much of this has been keying off to whats taking place to crude prices ove ....