The 10year is yielding 0. 75 . Well continue to monitor that as well. We have a lot of guests today. Including dr. Scott gottlieb who will join us in a couple of minutes. J js cfo, the ceo of moderna, ceo of related companies and the ceo of zoom. All in the next three hours. Andrew an update now on the pandemic in the United States. Now more than 582,000 cases and 23,000 deaths. North has 96,000 cases and 10,000 deaths. New york governor governor cuome numbers appear to have knocked off in new york. It was an accomplishment. A heck of accomplishment those Health Care Workers for the rest of my life, i will say nothing but thank you to them. I was not sure if we could keep the tide from overwhelming our hospital capacity. They did there is going to be no ephany or morning headline that says hallelujah, it is over thats not going to happen. Well hear more from dr. Scott gottlieb about plans to reopen the country and more about Governor Cuomos gathering of states on the east coast to disc
Call it. Netflix yesterday closing at an alltime record high. Oil a little higher as well, but still around an 18 year low. Still brutal for the market. Just checking in one more time they comec had before out. Time now for bloomberg first take. Here to discuss from our inhouse team of wall street veterans and insiders, michael mckee, and Damian Sassower. Mike, we know that jobless claims are going to be bad. We dont know how bad. I think the question is, how do markets actually respond to this, when sometimes they want to respond to bad data, sometimes they dont . Michael im not even going to go there. Yesterday we had dismal numbers on industrial and retail sales. We thought they were priced in, but apparently they werent. Youve got to wonder if weve priced in jobless claims because weve talked about it so much over the past three weeks, but we are expecting 5,500,000 as a consensus. If you get that number or even a little bit below it, we will have wiped out in one month all of the
The economy in the next 3, 6, 18 months. Tom it has been an extraordinary recharging of global recession. Germany looking at recession calls back to 2009, really no surprise there. But it has been the additive facts that we have seen over the weekend measuring global slowdown. There is no place you see it more than thiss morning, not only in the price decline of oil, but specifically brent has had worldwide crude has an extremely difficult six hours. Francine yeah, we also have to look at currencies, dollar had quite a move, and dollar of course is now benefiting, or at least moving on the back of the Credit Rating downgrade from other countries. We look at pound, a lot a lot of volatility there. Thats get to first word news in new york city with viviana hurtado. Viviana President Donald Trump wants the public to continue practicing social distancing until at least the end of april and not by easter come as he previously suggested. Dr. Anthony fauci telling cnn if efforts to mitigate t
Fed funds rate the chairman talking about the action and admitting that the cut may not be a cure yall, so to speak we do recognize the rate cut will not reduce the rate of infection or fix a broken supply chain. We do believe our actions will boost our economy. Avoiding a tightening of the conditions that will help boost household and business confidence. Then stocks whip sawed with stocks ending down yesterday, the yield dropping below 1 for the First Time Ever take a look where we stand now at. 94 as we speak quite a bit lower quite a day. You want to get ahead of these things but can you we were up 1,300. I know. Im not listening actually i do want to know your predictions. He would shave to do it at some point i think there is no winner here exactly if they didnt cut, you are skpengting why didnt they cut and the markets go down . What do they know nobody else knows. At this point, it is pure insurance trying to loosen liquidity. You look at people looking at mortgages. I locked i
Coming out with earnings this morning. The big story that cut its full year revenue view seemed to maintain its earnings and increase its gross margin forecast for the rest of the year. Its revenue at 2 versus 4 on the high end. Remember this is all in part as well as the stock plunges. They did not comment. They wont comment on any further investigation. They do say they are cooperating. Our time for global exchange. We bring you todays market moving news from around the world. Bangkok to london to washington. Our bloomberg voices are on the ground with this mornings top stories. We want to start off with the latest trade development. The u. S. And china say they are close to agreeing on the first part of a trade deal. Wilbur ross spoke to bloomberg expressing optimism on the socalled phase one deal. I think we are in good shape. We are making good progress. And theres no natural reason why it couldnt be. Alix joining me on the phone from bangkok is ed in a edna. Also that exclusive i