Any moment. I want to bring in our Bloomberg Markets reporter, taylor riggs. Walk us through the equity markets. Pricing seemed to deteriorate toward the close. Taylor so much volatility today, on days you would typically see from earnings. Companies reporting like caterpillar, 3m, really thinking that the worst is not as bad as it seems. All of that, like you mentioned, really deteriorating into the close. A lot of that had to do with Consumer Confidence data, showing that levels are down to the lowest since 2014. The russell 2000, 1 of the bright spots in an otherwise pretty negative day. Continued talks about states separating from the federal government and trying to reopen on their own time, a lot of these smallcap stocks are the performers today as we continue to get these talks about reopening the economy. Crude is another big story we are following today. All over the place today. Positive, negative, positive territory. About 3 act ending up higher or so. You did have some nega
Romaine we will get back to david in just a moment. Taylor to jump over to riggs. Taylor attack, the big movers. Wanted to take a look at interday of the s p 500. Pretty volatile. Earnings around, so if you dont mind, i will jump to the end of my segment here where we were taking a look. Amazon saying that they are 26 ng net sales up yearoveryear and just a little bit higher than the estimates of of a 73 and three quarters billion dollars. Secondquarter net sales a here, versusy estimates of about 78 billion. They are saying that they see the crisis, demonstrating adaptability and durability. Amazon First Quarter net sales just above estimates. Sales rising about 0. 25 . In theally interested cloud service. That is where we saw a lot of strength with microsoft and alphabet. Strength within that cloud business. Very curious as Amazon Web Services is the leader. I will leave you all with that note. We will finish that later. Amazon coming out. That is going to be the key driver here as w
The coronavirus. They say they plan to release enough tests so all 50 states can free at least 2 of their residence. Joining us from amazons home seattle,he mayor of jenny durkin jenny durkan. We doubt that seattle was one of the early epicenters but early moves prevented seeing some of the dismal numbers we have seen elsewhere. Give us a status update in terms of the Testing Capacity. Mayor durkan on the good news front, at the height of the outbreak, we had a transmission rate of about three. We were seeing cases rise really quickly. We were able to do our measures pretty quickly, first by having the Tech Companies telecommute as well as the cities and larger employers. Today, the transmission level is below one, so every person who gets the virus is not even transmitting it to another person. All of the epidemiologists are saying that is where you need to be for a significant period of time. I think probably the worst news is that we are nowhere near the Testing Capacity that we nee
First time in years. And the fed the ecb cuts funding costs. Boris johnson pledges a lockdown exit plan. Welcome to daybreak era. As we head into may, how about these markets . 1987. St month since u. S. Equities. U. S. Jobless claims yesterday, the you want to focus on the unemployed or the fact that the claims have been decelerating for four weeks. We saw a red on the screen yesterday. More than 1 . Own a lot of markets closed. In asia, japan is open. Read on the screen for japan. Many are closed but ftse futures points to a down day. Risk off across the markets. Dollar strength coming through on the bloomberg dollar index. Oil is an outlier in terms of the risk picture heading for a monthly gain. Coronavirus,o the u. S. Coronavirus cases recorded the slowest daily increase for the month of april. Resident donald trump will theel to camp david for first time leaving the white house compound for more than a month. The president is preparing to resume travel and reopen the economy. Yor
U. S. Unemployment about 20 , nearing the 25 we saw during the great depression. The house is set to vote any minute now on this additional relief package that would release 300 billion in funds for Small Businesses. I want to bring in taylor riggs. I want to start with this news out of gilead. Having the s p 500 was some strong gains right out of the gate and then it dipped into negative territory two or three times the lot of the volatility and the weakness coming off the headline we got. It was a Financial Times seen the that they had who accidentally leaked results from a chinese trial. The drug failed to show a positive result. From thely removed it website but the damage was already done. Gilead came out and said the study of the results accidentally published were mischaracterized. The trial had to stop because not enough patients could be found. The results are inconclusive. Damage to gilead scientists and damage to the rest of the market had already been done. It shows you how