Spread widened out. Thursday in terms of the eu, and theres going to be clashes about whether or not we see joint debt issuance. Vonnie we will speak to maria tadeo about that in just a few minutes. In the u. S. , we are seeing equities dragged lower by oil, down almost 40 at one point, and back there again now. We are trading at 10. 85 for a barrel of wti. It is really insane levels of trading. The contract expires tomorrow. Vix trading at about 40. One stock to point out, united airlines. Obviously, the airlines having a terrible time of it. It is talking about topol revenue in the First Quarter about total revenue in the First Quarter down 17 . It will get 5 billion through the payroll protection programs, but it is just one of the airlines having a hard time. Right now, homebuilders are the worst performers in the s p 500. Guy lets get back to that board we were showing you at the top of the program, the price of debbie ti crude of wti crude trading 10 a barrel. That is the lowest
The economy as early as next month. Almost 2 Million People have died worldwide. The imf and world bank prepare to meet amid the most down the worst downturn since the 1930s. The new reality of collapsed trade and mounting unemployment. Oily we are seeing reversing gains as much as a percent at one point in london. 25 , sames now down for wti. We had the reduction coming from opec and its allies are that would have been the sickest single largest in history. Goldman sachs but says it is insufficient. U. S. Futures gained at the open, reversing earlier prices. The nikkei futures also down 1 . We have markets closed on holidays including australia and new zealand. Global cases also affecting sentiment in the markets. Those cases rising towards 2 million with the United States the epicenter of you break after fatalities in the country surpassed italy. There are signs of optimism in the hotspots like new york. Lets bring in Sophie Kamaruddin with the latest. We have seen President Trump. A
Any mutualization. Vonnie we are seeing a nice bounce for equities today. The dow in the s p both up 1. 5 to 1. 7 . The nasdaq up 2. 1 . All Industry Groups in the s p 500 higher, even though we are off our highs for the day. The one teetering on the edge is the home wherein transportation index, but they are basically flat to down 0. 1 or so. Some good earnings overnight. Many companies, including kimberlyclark, just getting rid of guidance altogether for the year because it is just impossible to know how the rest of the year is going to pan out. The likes of twoputt lake the likes of chipotle up, and Companies Like halliburton up. Diamondback up 8 , bouncing after getting absolutely hammered the last couple of days. Lets carry on the conversation about what is happening in the crude market, a big focus right now. Following that report on inventories. Weve also got the president s comments on what could happen the gulf when it comes to iranian boats. That is having an effect. Brent bo
7. 75 . Very much under pressure. Vonnie we do have another headline from the Federal Reserve. It turns out the fed will help liquidity and banks even further. The fed will let banks delay the capital hit from the loanloss accounting rules. Banks can mitigate the capital hits for up to two years. Banks also allow the new tools assessment counterparty risk, and this is all on a statement from the Federal Reserve and the last human its. In the last few minutes. Week, including last weekend of very difficult liquidity conditions, particularly for nonfinancial but also for the banks and major banks. Week, including lastwe are not seeing too much relief in the markets. We are seeing the s p 500 down 3. 5 and the dow off its lows but still down 3. 8 . The nasdaq down 3. 5 . At 65 and avix dollar index that continues to weaken. We had a headline from the imf a few moments ago which suggested that 80 countries, including countries have requested aid. The managing director of the imf does not t
Angela merkel may be pouring a little bit more cold water on that idea in the last hour. Vonnie absolutely. It is hard to understate the extent of the rally here. We have consumer durables leading this rally, up more than 7 in the s p 500. Itself is up 4. 4 . Even in the s p 500, the worst performing sector is up 1. 25 right now. The dollar index is up 0. 25 . A live at of weakness for the 1. 0785. Ding at the Canadian Dollar stronger today at 1. 4742. Guy lets get some more insight into what is happening with these markets, a little more context as to where we are potential he going. Mber, Global Market strategist at jp morgan asset management, joins us on the phone. Looking at what is happening around world, seeing signs that there may be stabilizations happening in a number of countries when it comes to coronavirus cases, then extrapolating that into the equity market, i am wondering whether that is a step too far. Hugh i would agree with you because i think at the moment, what we s