Tuesday 5th May 2020

US equities have managed to clamber out of negative territory this morning but, as Phil Dobbie discusses with NAB’s Rodrigo Catril, airline stocks have taken a heavy hit after Warren Buffet’s decision to bail out at the weekend. Tensions between the US and China have added to the uncertainty, but it’s European stocks showing the biggest falls. This, in part, reflects the importance of a court ruling in Germany tonight, over the ECB’s QE program. It’s expected the court will throw out the challenge, but if it rules in favour, it calls into question the ECB’s massive recovery program. Also today, construction data and jobless numbers for Australia, plus the RBA meets.