Written by Gary
US stock futures point to a slight gain as investors monitor efforts to reopen the economy (SPY +0.4%). Core CPI falls 0.4% in April and Consumer price index drops 0.8% in April, biggest since 2008.
Here is the current market situation from CNN Money | |
 | European markets are mixed today. The FTSE 100 is up 0.94% while the DAX gains 0.32%. The CAC 40 is off 0.39%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | EasyJet founder offers $6 million reward for help in cancelling Airbus orderEasyJet founder Stelios Haji-Ioannou is offering 5 million pounds ($6.2 million) for any information that leads to the cancellation of its order for 107 Airbus jets as he steps up his campaign to oust the budget airline’s management. |
| Embraer blames failed Boeing deal for sharp drop in commercial jet deliveriesPlanemaker Embraer said Tuesday it delivered just five commercial jets in the first quarter, less than half of what it delivered a year ago, blaming the drop on preparations for a deal with Boeing Co that fell apart last month. |
| Brussels Airlines slashes jobs, fleet as COVID-19 bitesBrussels Airlines, part of Germany’s Lufthansa , said on Tuesday it would reduce its fleet by 30% and its workforce by a quarter to guarantee its survival during and after the COVID-19 pandemic. |
| German watchdog conducts multiple investigations into WirecardGermany’s financial watchdog BaFin said on Tuesday that it was conducting multiple investigations into payments company Wirecard . |
| U.S. Congress to quiz bank regulators on coronavirus rule-easing, assistanceLawmakers will quiz U.S. regulators this week on their efforts to help struggling consumers, oversight of massive federal bailout packages and regulatory easing when they appear before Congress this week for the first time since the novel coronavirus outbreak. |
| Ryanair to resume 40% of July flights with new rules for passengersRyanair on Tuesday confirmed it will return to 40% of its planned flight schedule from July 1 and will require passengers to wear face coverings and to ask crew permission to use the toilet. |
| Futures edge higher on recovery hopes, China tariff exemptionsU.S. stock index futures ticked higher on Tuesday as China’s move to waive off tariffs on some U.S imports added to hopes that the easing of virus-led business shutdowns would help jump-start a battered global economy. |
| China’s Tesla wannabes risk running out of road in virus-stricken timesChallenged by the arrival of Tesla in China last year, domestic electric vehicle (EV) start-ups were struggling even before the economic shock wrought by the coronavirus, but now for some it has become a battle for survival. |
| AIG approaches shareholder pay vote with cautious approval from proxy firmsAmerican International Group Inc faces a crucial test on Wednesday, when shareholders are to vote on whether the board of directors has adequately addressed their concerns about executive pay. |
| Futures Jump As Traders Shrug Off Fears Of New US-China Trade War, Flare-Up In Wuhan Virus CasesFutures Jump As Traders Shrug Off Fears Of New US-China Trade War, Flare-Up In Wuhan Virus Cases S&P futures rebounded from an overnight selloff, and are back at Monday’s highs as European stocks rose on Tuesday despite a selloff in Asia as dip-buyers overwhelmed concerns about a “second wave” in China which is set to test all 11 million Wuhan residents and a up-tick in coronavirus infections in several nations as well as a deterioration in sentiment between the US and China, which overnight announced it would also ban a third of Australian beef imports. Oil advanced even as the June prompt WTI contract approaches its delivery date. Why the burst of optimism? Traders are looking at the Fed which today is expected to start buying various corporate bond ETFs like LQD and JNK. |
| South Korea Confirms 100+ Cases In ‘Gay Bar’ Cluster, Russia Now Home To World’s 2nd-Worst Outbreak: Live UpdatesSouth Korea Confirms 100+ Cases In ‘Gay Bar’ Cluster, Russia Now Home To World’s 2nd-Worst Outbreak: Live Updates Summary: Russia overtakes UK to become world’s 2nd-biggest outbreak South Korea uses surveillance tech to confirm 100 cases linked to gay bar outbreak UK finds 4/10 COVID-19 deaths linked to care homes Wuhan begins latest mass testing push China Health Commission says Wuhan cluster shows “prevention and control measures cannot be relaxed” 57k students return to school in Wuhan Moderna wins approval for expedited testing, review from FDA Aussie Treasurer tests positive as reopening continues Treasury releases details on $150 billion fund to reimburse states for ‘rona-related expenses *Â Â Â Â Â Â Â Â *Â Â Â Â Â Â Â Â * When South Korean health authorities realized they might have a new cluster on their hands in Seoul – a cluster that, thanks to SK’s population density, threatened to spread like wildfire – they initially panicked: The unnamed ‘super-spreader’ at the center of the outbreak had traveled to several gay clubs in Seoul’s ritzy Itaewon nightlife district. |
| Anti-Quarantine Protesters Spotted With Rocket Launcher In Downtown RaleighAnti-Quarantine Protesters Spotted With Rocket Launcher In Downtown Raleigh Armed protesters on Saturday lugged around an “inert” AT4 rocket launcher, an M2 Browning .50 caliber machine gun, and an assortment of different weapons on the first full day of North Carolina’s Phase 1 in downtown Raleigh Saturday afternoon. The protesters, which looked like a group of mercenaries from the movie The Expendables, were spotted marching on the streets and eating in a Subway restaurant, according to The News & Observer’s Travis Long, who snapped several pictures of the group. Long tweeted: “A group of about 11 mostly-armed demonstrators protesting the stay at home order marched around downtown Raleigh and ordered sandwiches at a Subway.” Man ordering Subway sandwich with “inert AT4 rocket launcher” strapped to his back |
| Geopolitics Stings Sentiment But Dip-Buying Is RelentlessGeopolitics Stings Sentiment But Dip-Buying Is Relentless Submitted by Eleanor Creagh, Australian Market Strategist at Saxo Bank Summary: After a hesitant overnight session on Wall Street, Asia trades heavy as geopolitical concerns come to the fore, fears of rolling COVID-19 outbreaks mount and dollar strength tentatively resurfaces. We look to the US cash session tonight for confirmation of continuing bearish price action, although remain skeptical of follow through following the relentless dip buying that has accompanied the FOMO trade in recent weeks. |
| Abhijeet Banerjee on why cos exiting China may not come to IndiaAbhijeet Banerjee on why cos exiting China may not come to IndiaThere is no certainty that India will gain from shifting of businesses from China, the nobel laureate said. |
| India’s demographic dividend on cliff edgeIndia’s demographic dividend on cliff edgeCMIE on Tuesday said 27 million youth in the age group of 20-30 years lost their jobs in April. |
| This man has the toughest job in MumbaiThis man has the toughest job in MumbaiIqbal Singh Chahal’s task as BMC chief will be to bring the Covid-19 outbreak under control. |
| The Fed is going to buy ETFs. What does it mean?The central bank will use some new tools to help stabilize markets. |
| Bond Report: Treasury yields inch lower ahead of consumer pricesTreasury yields were little changed Tuesday, following a rise in the previous session, as investors awaited U.S. consumer inflation data which is expected to see another fall in prices in April |
| Metals Stocks: Gold prices edge higher as traders track weaker dollarGold futures were up modestly Tuesday, with support attributed in part to a weaker tone for the U.S. dollar as investors also weigh efforts to reopen economies that were closed in the effort to contain the COVID-19 pandemic. |
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