Morning 4-30

 Stock Headlines (CNBC):

 Economic news (Not Pretty)-Trading Economics the Eurozone economy shrank by 3.8% on quarter in Q1, compared to market expectations of a 3.5% contraction, a flash estimate showed. It was the steepest contraction since comparable records began in 1995(Graph via BBG)

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Italy’s GDP shrank 4.7 percent on quarter in the three months to March of 200, following a 0.3 percent contraction in the previous month and entering a recession, preliminary estimates showed. It was the steepest contraction since comparable records began in 1995

Mexico’s gross domestic product contracted 1.6 percent on quarter in the three months to March 2020, after shrinking 0.1 percent in the previous period and compared with market consensus of a 2.1 percent decline, a preliminary estimate showed. It was the steepest contraction since the first quarter of 2009

  Next week’s Non-farm payroll number will show job losses in the Millions likely tens of millions, still hard to grasp the magnitude of Job losses. Today’s jobless claims expected to be +3.5 million a big number, but trend is down let’s hope it stays that way

 What does all this bad News get you?  The Best Month for the SPX since 1974!

 News:

 Tomorrow is May Day or Labor Day for most of the World many exchanges are closed. China is closed to Wednesday May 6th

Yesterday China Released the first of 3 PMI reading for April, Manufacturing PMI missed expectations 49.4 vs 50.5 expected

ECB left Rates unchanged but lowered the rate on the short-term loans they provide for banks from -.5 to -1.00 Okay I guess press conference at 7:30

Tyson Foods has doubled work bonuses and increased Health benefits to lure workers back

All eyes on Gilead science as they may give more details on the Corona Virus therapy treatment. Headlines and stocks movement are a big Driver of Sentiment and all markets these days so pay attention to headlines. Gilead reports after close

Apple and Amazon earnings tonight

Markets:

 Nasdaq Higher but Dax, Spoos, Stoxx 50 all lower. Bunds Higher yields -4 Bps Gold +.7% Silver +1.1%

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