Blogs

Shrugs off German court news The German courts didn't necessarily say the ECB QE measures could not be done, but they do want more information to justify their actions.  The European markets are shrugging off the decision and closing higher on the day:

Senate Majority Leader Mitch McConnell speaking on the Senate floor Senate Majority Leader Mitch McConnell is speaking on the Senate floor. He says Last week, it was reported that McConnell opposed additional infrastructure spending on a conference call with Republican senators.   Cutting payrol

Meetings being conducted virtually The 1st round of talks to last from May 6 through May 15. The formal joint statement says See here for global coronavirus case data

Pres. Trump to visit Honeywell mask manufacturing plant today in Arizona Today, Pres. Trump will be traveling to Arizona to visit a Honeywell plant which has been producing protective masks. When asked if he will wear a mask during his visit, he said "he hasn't decided yet" .  

Global dairy trade auction results See here for global coronavirus case data

Pres. Trump speaking Pres. Trump is giving morning comments. He says: meanwhile in other coronavirus news, See here for global coronavirus case data

Last week he threw out a 19% number The White House economic advisor Hassett is on the wires saying: Recall from last week Hassett threw out a 19% number. He seems to be dialing that back a bit. In other comments he adds:

Hopes for a successful reopening helps investor sentiment See here for global coronavirus case data

2008 ISM nonmanufacturing all time low came in at 37.8 The ISM nonmanufacturing PMI for April came in at 41.8 versus 37.9 estimate. Last month the index came in at 52.5. The reading is the lowest level since April 2009.

Preliminary estimate for Markit services PMI was at 27.0 – Markit services PMI for April (F) comes in at 26.7 versus 27.0 estimate – Composite PMI for April final 27.0 versus 27.4 previously reported Slightly weaker than expected data.