From the Airline Industry as weve peers set to receive a 10000000000. 00 bailout from the German Government now this bailout package had been held up for several weeks as the airlines largest single shareholder dropped his opposition that shareholder billionaire businessman herman thiel had been threatening to block the deal as recently as last month his opposition though has faded as has found itself in a dire situation the airline lost 10300000000. 00 in the 1st quarter of this year at the companys Shareholder Meeting on thursday lou lou thousands of board chair carl loued with clay warned that voting against the deal would mean taking a big risk. You know. We have run out of money to this day we live on the reserves we set aside during the good years but soon we will have used most of it without support the looms in the next few days. The chairman also addressed the terms of the deal which include the German Government taking a 20 percent stake in the airline. Yes firstly the states
This number, down 664 points, for a loss of about 8. 5 . Crude oil at the moment, it has been vicious and quite a violent downside move, even after the ones last week that were very ugly. We see crude oil setting at 28. 70 but in the aftermarket, we are just above 29. Call it straddle. We are right at 29 a barrel. We have major developments this afternoon putting even heavier pressure on the markets. Canada moves to close its borders and the nations airlines are seeking up to 50 billion in aid to support the massive plunge in bookings as of course, social distancing affects all forms of travel. In this hour, we do expect that live News Conference held by the white house by the Coronavirus Task force. 3 15 p. M. Eastern, 14 minutes away, as you heard. We understand the secret service has now started taking temperatures of those in attendance. Heres a couple questions we at countdown want to know. Will we see more stimulus announced . Will the status of the nations airports change at all
Saying. We are getting headlines out of the iea. It depends on what is happening in the middle east given what has happened in iran and the last 15 days. The International Energy agency saying the oil supply is a vulnerable as middle east tensions flare up. Ieas always good to see the thinking. You can see the brent. Stocks are gaining 0. 4 . We are we have to see and i will show you later that we have a tight range when it comes to treasuries and dollar pound. Significant one because there is more bets that the bank of england will cut rates in january i believe january 30. Coming up, we hear from the chief executive of allianz. Something you do not want to miss. That is coming up a little bit later. Lets get to first word news. Viviana we begin here in the u. S. , the house of representatives sending two articles of impeachment. It is the first step to begin Donald Trumps trial almost certain to end in acquittal. Chief Justice John Roberts of the u. S. Supreme court will preside over
Midwest. Will be b here to give us a consumer check as power lunch begins right now welcome to power lunch. Im contessa brewer. Check out where we stand after hitting record highs the dow mostly in the red thanks to boeings move lower the s p barely hanging on to the green. The nasdaq again, still in the green, but barely hanging on to the gains. Take a look at these tech heavy weights which have been b leading the rally. Facebook up half a percent dpo google up a half a percent the dow crossing 29,000 for the first time today though it is off that level right now. A handful of stocks responsible for this latest leg of the rally and bob pisani is taking a look at those names hard to believe it was only a couple of years ago we were at 20,000 so i want to show you whats responsible for moving the dow from 20 to 29,000. Concentrated, but not as much as you might think. Apple not surprisingly 15 of the gains is through the apple. Boeing, 13 . United health care, visa and microsoft. B abou
And that, weve taken 40 seconds out of the next show, but since i cohost the next show, i took it from myself, contessa its paying peter, robbing peter to pay paul. Whats new at 2 00 stocks sitting just below record highs. Bank of america says theres no euphoria in this market. Thats a good thing. Plus boeing soaring on reports that Warren Buffett is jumping into the game, but theres one bearish analyst who says sell this stock hell be here to make this case. Later, Oil Prices Rising as tensions in the middle east ratchet up are higher prices here to stay well hear from the ceo of marathon oil power lunch starts right now the dow off the lows of the day but still down b about. 40 . The s p in the red as well down a quarter of a percent look at the north ameriasdaq in stocks check out micron and western digital. Theyre surging after cowen says both of these stocks as a buy. Micron up almost 8 , tyler the markets largely shaking off concerns about iran instead focusing on hopes for earni