Evening Headlines
Bloomberg:
- China’s Brokers Raise Record Short-Term Debt in Leverage Spree.
- Thailand’s Slump Pushes Spreads on Risky Bonds to a Decade-High.
- Asia Stocks Set for Mixed Start; Dollar Rises: Markets Wrap. Asian stocks opened mixed Tuesday as traders assessed the challenges economies face removing restrictions to contain the coronavirus pandemic. The dollar held gains. Equity benchmarks fluctuated in Tokyo, and dipped in Sydney and Seoul. Futures in Hong Kong rose. S&P 500 contracts slipped after the index closed flat. New York Governor Andrew Cuomo said businesses including construction, curbside retail, drive-in movies and some recreational activities will reopen this week on a regional basis. Still, Mayor Bill de Blasio said the lockdown in New York City is likely to stretch into June. Treasuries were steady and oil stabilized as output cuts were seen easing storage pressures. S&P 500 futures fell 0.3% as of 9:03 a.m. in Tokyo. The S&P 500 was little changed at 4 p.m. in New York. Topix index dipped 0.1%. Australia’s S&P/ASX 200 Index was flat. South Korea’s Kospi index was little changed. Hong Kong’s Hang Seng Index futures fell 0.7%.
- Shale Drillers Are Already Reopening Wells, Pipe Giant Says.
- U.S. Cases Up 1.3%; Malaria Drug Fails in Patients: Virus Update.
- NIH Director Talks Vaccines, Virus Mutation and Clinical Trials.
- House Democrats Won’t Vote on Stimulus Proposal Before Friday.
- Virginia Will Exempt Churches From 10-Person Limit on Gatherings.
- Election Risk Swells as Wall Street Warns on Tax Cut Reversal.
- All the Covid-19 Symptoms You Didn’t Know About.
- Airlines Balance Fewer Flights With Angry Travelers Seeking Social Distance.
- GOP Rekindles Deficit Concerns, Adding Snag to Talks on Aid.
Wall Street Journal:
- Economists Expect Recovery Will Be More of a ‘Swoosh’ Than V-Shaped.
- Shale Driller Chesapeake Energy Warns Its Future in Peril.
- Medical Lockdown Will Cause a Disease Surge.
- Caesars, Eldorado Revenues Fall on Casino Shutdowns.
- PNC Financial to Exit Investment in BlackRock.
- Saudi Arabia Imposes Austerity Measures as Its Economy Founders.
- Trump says he’d consider ordering states to test nursing home residents.
- Jim Cramer reviews top 10 stocks for this moment on the ‘Cramer Covid-19 Index’.
- Stocks making the biggest moves after hours: Novavax, Tilray, Eventbrite and more.
- California Gov. Newsom says he didn’t know Tesla reopened its factory, defying coronavirus orders.
- The biggest US mall owner plans to have 50% of its centers reopened this week.
- Working from home is here to stay, even when the economy reopens.
- Coronavirus and markets: Cramer and four others on what to watch next.
Fox News:
MarketWatch.com:
MarketWatch.com:
- Vacation real-estate markets are ‘toast’ because of the pandemic as Airbnb owners rush to offload their homes, Redfin CEO says.
- The stock rally is signaling an ‘abnormal’ economic recovery, not a V-shaped coronavirus rebound.
- Novavax stock surges after hours on coronavirus funding, results.
- Here’s why stock market investors are ‘too optimistic’ over 2020 earnings and a 2021 recovery, strategists say.
- Alameda County Folds, Allows "Minimum Operation" After Elon Musk Defies Coronavirus Order And Dares Authorities To Arrest Him.
- Grenell Takes Action To 'Unmask' Obama Officials Involved In Unmasking Scandal.
- "It's 99% Autonomous" - Delivery Robots Slated To Launch In Texas To Limit Virus Spread.
- US Coronavirus Death Toll Tops 80k As Cuomo Says Central New York Will Reopen Friday: Live Updates.
- iPhone Sales Crash 77% In April, Hammered By COVID-19 Lockdowns.
- India Uses Drones, Firetrucks To 'Disinfect' City As 100s Of Migrant Workers Clash With Police.
- Meat Exports To China Soar As US Supplies Dwindle & Workers Risk COVID-19 Infection.
- As Russia Now Has World's 3rd Most COVID-19 Cases, Med Students Being Thrown To Front Lines.
- "We're At War, Make No Mistake" - White House Official Blasts China Over COVID-Contagion.
- How Brokerage-App "Game-ification" Enticed A Generation Of Lemmings To Day-Trade This Market.
- White House Orders All Staff To Wear Face Masks 'At All Times'.
- Banks Battered, Absymal Breadth But The Big-Tech Buying-Bonanza Continues.
- New Virus Cluster in Wuhan Described by Locals as Severe.
- 18 State Attorneys General Urge Congress to Investigate Beijing’s Pandemic Coverup.
- Coronavirus Global Cases. (map)
Night Trading
Morning Preview Links
Earnings of Note
Company/Estimate
Before the Open:
After the Close:
6:00 am EST:
Other Potential Market Movers
Normal:
- Asian equity indices are -.75% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 117.0 -2.75 basis points.
- China Sovereign CDS 49.0 -1.25 basis points.
- Bloomberg Emerging Markets Currency Index 58.10 -.10%.
- FTSE 100 futures +.02%.
- S&P 500 futures -.41%.
- NASDAQ 100 futures -.22%.
Earnings of Note
Company/Estimate
Before the Open:
- (DUK)/1.19
- (HMC)24.28
- (IR)/.27
- (VSH)/.15
- (ALGT)/1.02
6:00 am EST:
- The NFIB Small Business Optimism for April is estimated to fall to 83.0 versus 96.4 in March.
- The CPI MoM for April is estimated to fall -.8% versus a -.4% decline in March.
- The CPI Ex Food and Energy MoM for April is estimated to fall -.2% versus a -.1% decline in March.
- Real Avg. Weekly Earnings YoY for April.
- The Monthly Budget Deficit for April is estimated at -$737.0B versus $160.3B in March.
- None of note
- The Fed's Kashkari speaking, Fed's Quarles speaking, Fed's Harker speaking, Fed's Mester speaking, South Korea Unemployment rate, weekly US retail sales reports, CA House run-off election, $32B 10Y T-Note auction, JPMorgan Tech/Media/Communications Conference, JPMorgan Consumer/Retail Conference, Wells Fargo Gaming/Hospitality/Leisure Conference, Oppenheimer Emerging Growth Conference, BofA Merrill Healthcare Conference, BofA Merrill Metals/Mining/Steel Conference and the (EYH) investor meeting could also impact trading today.
Normal:
- 9:30 am - 4:00 pm EST
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