Fed set 2022 and what the chairman will say and what i assume will be a Virtual Press conference today. Ofncine we will have plenty market action. We will look at the markets every 15 minutes, including what is happening in treasuries. We had the oecd coming out with their economic outlook. That was released about an hour ago, and the oecd, it is a smarter way of doing it, tom. Forecasting the pandemic would cause a Global Economic slump of 6 here, but if there is a second wave, that becomes a seven point 6 slump. It is a good way of visualizing percent comes a 7. 6 slump. By thewas taken aback differentials between the bar charts of europe and the United States. I did not have in my head how much worse the guesstimate is for gdp decline in the europe verses in the u. S. It is a very good report. Francine it is also because of where europe was in the economic cycle. Lets get straight to first word news in new york city with ritika gupta. Ritika good morning. A warning from jeffrey gund
Report d from one the did just that. And a 2nd night of protests in lebanon over the governments handling of a deepening economic crisis. Brazils president once dubbed coronavirus as a little flu its now become a Health Crisis the country has the 2nd highest number of deaths from covert 900 in the world on friday another 900 deaths were reported and that makes the total number of fatalities in the 42000. 00. Reports. Workers at the largest cemetery in seoul paulo oryx uming more than double the amount of bodies they usually do to make room for fresh olds as the number of 1000. 00 deaths in the country overwhelms capacity but even if the country is now the worlds 2nd highest death toll after the u. S. People are returning to the streets in mass the World Health Organization is again sounding the alarm although says so far the National Health system is holding up to the pressure over all the Health System is still coping in brazil though having said that with the sustained number of seve
Mexicans. Chaotic scenes in kenya police fired tear gas at mourners trying to prevent the burial of a popular singer. And tense moments in Central London as demonstrators target police after a deadline for protest to end comes into effect. I mean wellings with the sports news with football being played tonight in italy germany and spain you know messi and barcelona return to the pitch for the 1st time in 3 months trying to maintain their position at the top of lolly. Welcome to the new sounds good to have accompanied the coronavirus pandemic started in china and now the rush is old to contain it again the biggest wholesale food market in the Capital Beijing is closed under police guard after dozens of people to. Positive local cases detected in the city of 20000000. 00 people for more than 60 days officials in the affected areas are now on a war time sorting train a year reports from beijing. Video of Chinese Military police entering beijings from thai district has been circulating on
That the worst of this may be behind us. And they can start thinking about what the recovery is going to look like. Someet i know we have earnings coming out. Romaine travel companies will be reporting after the bell. On booking, what we are looking at, the g1 numbers coming in at 2. 29 revenue. That was the estimate for 2. 15. Well belowitda estimates. The estimate was for 363 million. So, no real forecast here. The company did say that covid19 would profoundly impact the travel industry. We will dig deeper to see if we can find a little bit more about any Forward Guidance for the company, basically saying they would emerge from the crisis in a position of strength. Scarlet right now, this is something that all companies are open for, to come out in a position of strength. For we go, i want to get an idea from you. This is something that Joe Weisenthal posited this morning. How much do you think this equity market rally has been premised on the idea that there will be more stimulus, a
We are waiting for that bricker hughes baker hughes breakdown. We had six straight weeks of declines. On a decline coming into this week. Total rig count is 408 according to baker hughes. We are still waiting for some of the oil rigs specifically to come in. When we get that data, we will come back to that. You can see crude prices are up 3 . Overall in the last five days, the Energy Sector has been a pretty poor performer. Performer today but still on track for six week of gains. It is the best week going back to april 10. The largest of streak you have had since may 18. You are getting some of that rig count data falling to 408 rigs. I want to look at the canadian dollar. Getting some weakness relative to dollar strength. Bank of canada named a new governor, going back to a veteran who led in the 2008 crisis. Finally, it is all about the individual stocks we are watching. Reported operating income next quarter could be negative. American getting a price target cut. One dollar a share