Written by Gary
Core CPI, minus food and energy, falls 0.1% in March, Consumer price index declines 0.4% in March, U.S. March CPI decline is largest since January 2015. Economic chart below.
Here is the current market situation from CNN Money | |
 | European markets closed sharply higher on Thursday with shares in London leading the region. The FTSE 100 is up 2.90% while Germany’s DAX is up 2.24% and France’s CAC 40 is up 1.44%. |
The economic calendar for today
Core CPI, minus food and energy, falls 0.1% in March
Consumer price index declines 0.4% in March
U.S. March CPI decline is largest since January 2015
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Trump says he is speeding help to farmers hurt by coronavirus dislocationU.S. President Donald Trump said on Thursday he has directed his agriculture secretary to expedite help to farmers, especially small farmers, hurt by the economic disruption caused by the new coronavirus outbreak. |
| Airbus shelves plan to add new A321 assembly lineAirbus has shelved plans to create a new assembly line in Toulouse, France, for its A321 airliner as the company wrestles with the coronavirus crisis. |
| Japan’s battle with pandemic may mark end of Abe’s fiscal experimentThe huge cost of the coronavirus pandemic is upending Japan’s seven-year experiment to rescue the economy from its debt timebomb, as recession fears prompt calls for “helicopter money” – unlimited spending bankrolled by the central bank. |
| Global oil output cuts held hostage to standoffOil producers in the OPEC+ group, led by Saudi Arabia and Russia, were expected to pressure Mexico on Friday to seal an accord for a collective cut in output of 10 million barrels per day, before asking other nations for a further 5 million bpd of cuts. |
| Nissan restructuring may assume cut of 1 million cars to annual sales target: sourcesNissan Motor Co Ltd’s management has become convinced the struggling automaker needs to be much smaller and a restructuring plan due out next month would likely assume a cut of 1 million cars to its annual sales target, senior company sources said. |
| Tesla expands locally made line-up, blunting trade war impactU.S. electric vehicle maker Tesla Inc said on Friday it has started China sales of two more Model 3 variants built at its Shanghai plant, meaning all Model 3 sedans sold in the country are now locally made and not subject to import tax. |
| Kering luxury goods billionaire Pinault agrees to pay cutFrançois-Henri Pinault, the French billionaire chairman and CEO of luxury goods group Kering , has agreed to a pay cut in the latest example of top executives accepting lower salaries as a gesture of solidarity during the coronavirus crisis. |
| Renault chairman: could seek 4-5 billion euros worth of bank loansRenault Chairman Jean-Dominique Senard said on Friday that the carmaker could seek bank loans worth 4-5 billion euros ($4.4-$5.4 billion). |
| Saudi, Russia outline record oil cut under U.S. pressure as demand crashesOPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis. |
| Pentagon Warns Of New Coronavirus ‘Breakouts’ Aboard USS Nimitz SupercarrierPentagon Warns Of New Coronavirus ‘Breakouts’ Aboard USS Nimitz Supercarrier After a disastrous couple of weeks for the US Navy which not only saw a nuclear aircraft carrier be diverted from its mission over coronavirus aboard the ship, but witnessed an embarrassing public spat over the dismissal of the USS Theodore Roosevelt’s Captain Brett Crozier, itself leading to the resignation of Acting Secretary of the Navy Thomas Modly, an outbreak may have struck another major carrier crew. On Thursday the vice chairman of the Joint Chiefs of Staff Gen. John Hyten warned of a new coronavirus outbreak aboard the USS Nimitz nuclear supercarrier at a moment the vessel is scheduled for deployment to the Pacific region. “There’s been a very small number of breakouts on the Nimitz, and we’re watching that very closely,” Gen. Hyten said during a Pentagon briefing, indicating the sailors had “been isolated on the ship.” |
| UK Cops Threaten To Search Shopping Baskets To Catch “Lockdown” ViolatorsUK Cops Threaten To Search Shopping Baskets To Catch “Lockdown” Violators Authored by Paul Joseph Watson via Summit News, A police force in the UK threatened to start searching people’s shopping baskets in order to catch coronavirus lockdown violators, but later had to backtrack following a public backlash. |
| Gundlach Warns Stay Away From Gold ETFs: “What Happens If Everyone Wants Delivery”Gundlach Warns Stay Away From Gold ETFs: “What Happens If Everyone Wants Delivery” The internal mechanics of the gold market are again showing strains under this rally. The gap between New York futures and spot prices in London is still elevated, a sign of lingering concern over future supply of the physical form of the metal. |
| US, European Cities Turn To “Talking Drones” From China To Enforce Social-DistancingUS, European Cities Turn To “Talking Drones” From China To Enforce Social-Distancing Authored by Elias Marat via TheMindUnleashed.com, As an increasing amount of cities and states across the world clamp down on citizen movement due to the coronavirus, officials have been deploying drones in a bid to scare some sense into social distancing scofflaws. |
| 99.8% of Indian techies are incapable of working from home99.8% of Indian techies are incapable of working from homeOnly 0.2 per cent are ‘Work from Home’ champions and showcase high productive attributes. |
| Punjab becomes 2nd state to extend lockdownPunjab becomes 2nd state to extend lockdownThe state is also setting up a multi-disciplinary task force to formulate a strategy out of the lockdown. |
| India may soon fight Covid with colour codesIndia may soon fight Covid with colour codesAs of 8 April, Aarogya Setu has over 10 million downloads on the Google Play Store. |
| Rail Week Ending 04 April 2020 – Rail Decline Magnitude Not Seen Since The Great RecessionWritten by Steven Hansen Week 14 of 2020 shows same week total rail traffic (from same week one year ago) contracted according to the Association of American Railroads (AAR) traffic data. Total rail traffic has been mostly in contraction for over one year. The intuitive sector’s rolling average worsened this week but still in the range seen over the last year. Intermodal continues to worsen due to the logistic headwinds of the coronavirus.
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| 03 April 2020 ECRI’s WLI Growth Rate Now At Record Lows
ECRI’s WLI Growth Index which forecasts economic growth six months forward again declined significantly, moving deeper into contraction, and is now at a level below the values seen during the Great Recession. |
| The Conversation: Your DIY mask makes a difference against coronavirus ” here’s what science tells usEven masks made from cotton T-shirts are better than not wearing one. |
| Market Extra: Is the stock market open on Good Friday? “here are the asset trading exchanges closed on the holiday and Easter MondayIt won’t be your typical Easter, or Passover, on Wall Street, in the era of COVID-19, the deadly pandemic that has forced a global shutdown of businesses and caused governments to impose social-distancing measures to curb the spread of the disease. |
| The Conversation: Here’s what determines who has recovered from coronavirus ” and it includes two more testsCOVID-19 recovery is about more than just feeling better. |
Written by Steven HansenEarnings Summary for Today
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