Tom i would really suggest oil is important, but complete we secondary to the implosion that we saw yesterday and american jobs data. And the french data not much better. Right now, for global wall street, it is about calibrating the slow down and the nonrecovery out in the third quarter. And also, its the follow on from the rents that werent paid. There were massive upsets this morning. Francine i dont disagree. But oil can make things worse. Lets get straight to uber first word news in new york city with viviana hurtado. Viviana we do begin with oil. Opec putting together a Virtual Meeting of its members as President Donald Trump calls for a court need cut to end the historic crash in crude prices. Two delegates telling bloomberg the meeting will be held on monday. Saudi arabia insists it will only cut if others do. This includes the u. S. Of thetoric streak economy adding jobs for one under 13 months is probably ending as tom was mentioning. The march jobs report coming out at 8 30
The bloomberg terminal. A grim milestone. One Million People have now tested positive for the coronavirus with more than 50,000 deaths worldwide. The Asian Development bank estimates the cost of the pandemic at 4. 1 trillion. We will get through this, you was Vice President mike pence tells bloomberg that the economy will rebound from mounting unemployment as the government ramps up virus testing. We are testing over 100,000 americans a day. We literally are tracking every single day the number of cases that are coming out, where they are coming out. Pullback, oil markets reassess President Trumps tweet on output cuts with brent and of uti giving up some of yesterdays gains. We will double big into that story. Just under an hour away from the start of cash equity trading here in europe. Lets take a look at futures right now. They are down in terms of european futures. Downed arrows with futures 6 10 of 1 . Euro stoxx, ftse, dax futures also down. Lets take a look at u. S. Futures. We a
Guidelines relaxed, which areas of the country may have their guidelines deborah will talk to you about that and tony in a few minutes. Well Start Talking about that we have to open up, we cant say lets close. People dont want to close, john. I say it again and again. The reason i do, i want you to report it eventually. Go ahead, steve. Reporter how will that work without widespread testing . Reporter president xi, what do you want to talk to him about . It is his call. I will talk about whatever he wants. I think well have a very fruitful call and a good call at 9 00 tonight, please. Reporter [inaudible] well be talking about that. Well be talking about the virus. In the back. Reporter thank you, mr. President. Jobless numbers, market rallied again. A record. Reporter largest since 1931. Do you think Economic Uncertainty has passed . No, not yet. It hasnt passed but it has come a long way. I think they think were doing a really good job in terms of running this whole situation having
Package may not be needed. Dow industrials down 76, s p down 4 points and nasdaq lower by 2 and a half this after roller coaster week on wall street where we saw dow industrials go back to bull market territory posting largest weekly gain since 1938. Dow, nasdaq, s p 500 up better than 9 on the week. We are now off of the lows at 20. 54 a barrel, down 97 cents, 4 lower. Cases of coronavirus are rising across the country, death toll topping 1,000 in new york. Mayor de blasio says people who do not practice social distancing in the city can face fines up to 500dollars. A Million Dollars raised fox last night including fox business. More Companies Help to go fight the war on coronavirus. Manufacturing, medical supplies to free flight to healthcare workers. Mornings with maria is live right now. Maria lets check Global Markets this morning as u. S. Searches for direction. We have weakness across europe, cac quarant down 41 and dax index in germany lower by 32 points. European leaders conti
City stuck at 52. Morning low clouds and partly sunny, mostly cloudy and weak systems are staying to the north and theyre not going to make much of a move till maybe this upcoming weekend. On shore breeze or south wind in place and low clouds and not much of a storm track and the rain line and itll stay there till we get to the weekend and 60s on the temps for most and near average to slightly above and well get there till about wednesday and thursday as temperatures bump up a bit. Back to you guys. All right, steve, thank you very much. We have traffic very light and please dont speed. Chp has been issuing a lot of citations and Public Transit systems going outside and take muni metro, it wont be a train but a bus. We have more of that coming up and cal train reduced service by more than half on its lines but really there are no real backups or delays on the services. Now back to the desk. Thank you, sal. Time is 7 02 and the bay area shelter in place order is due to expire a week fro