Others its the only way to get a job despite the risks. Was an Army Bomb Disposal engineer in Helmand Province he knew the risks he was blinded in both eyes and lost a leg when a roadside device exploded as you try to defuse it i was aware of the danger of seeing friends wounded while working on mines i wasnt scared to lose an arm or a leg is a 2nd phase we have to make to serve this country. Im Adrian Finnegan this is counting the cost on aljazeera a weekly look at the world of business and economics this week recession why an emergency fed rate cuts just isnt good enough to save the Global Economy from the impact of the fast spreading coronavirus as the World Bank Offers billions to developing nations to support Health Care Systems where inside a lab thats working to find a vaccine to fight the virus that Oil Companies in the republic of congo have discovered vast oil reserves but drilling could be environmentally damaging. The worlds factory has been shuttered supply chains have bee
On the consumer. We will dig into the fallout there as power lunch starts right now. Tyler, thanks. Welcome to power lunch, everyone stocks are selling off hard for the second day in a row. We are near session lows right now with the dow down about 600 points thats a 2. 4 drop for the dow for the s p the nasdaq down 2 today but if you add up yesterday and today, all three of these averages are down about 5 in just those two sessions. Take a look at some of the moves weighing on the dow. You have boeing, United Health, visa down 4 we were just discussing United Health a lot of different challenges there. Lets go to the New York Stock Exchange with a run down on todays selloff. Hi, bob. Kelly, an old saying on bleet if you cant trade on the fundamentals, trade on the technicals s p 500 the last two days this was yesterdays low, midmorning, another drop volume picked up, trading on technicals this happened a little while ago and the cdc announcementadded to new lows for the day. New lows
President affectionate of his base and the other side who leads them socialist or a billionaire, wall street journal poll, the democrat race has tilted heavily to socialist, Bernie Sanders, hes got 27 support. The fading joe biden is essentially tied with newcomer Mike Bloomberg, the president s approval record hits new high for the poll, 47 tonight it really is mustsee splitscreen tv, all right, we will get to your money, of course, not quite as exciting as politics, chinas government says theres a slowing in rate of new infections for the second day, less than 2,000 new cases reported but beijing still has, you might call it credibility problem, 3 wall street journal reporters kicked out of the country objective voices gone. Anyway, the dow will be up about 80, s p up about 10 and nasdaq another nice gain, already at new high, up another half percentage point. Rally all across the board. Now, just wait till you see tesla stock, im showing it to you now, if you bet against it, you are
A fairly strong currency move this week. Time now for global exchange. We bring you todays market moving news from all around the world. From hong kong to london, frankfurt and new york come our bloomberg voices are on the ground with this mornings top stories. In asia, the coronavirus continues to spread, with south africa reporting a surge in was also inand that south korea. Joining us is stephen engle. Give us the latest. Stephen you have another revision out of china as they get previously unreported cases out of five different prisons in three provinces. You have those supposedly isolated clusters adding to the total again. They revealed the numbers and then added more. In some cases, more than 200 ands in chengdu province another in hubei province. More provinces could report outbreaks as well in those supposedly isolated ecosystems like prisons. As well, we are seeing additional clusters in other parts of asia, not just china. You are seeing a surge in cases of another 52 in sou
Deal reshaping the storied Investment Bank, Morgan Stanley Ceo James Gorman will join us in the next hour. A mega merger, increases the projection of expenses saved and the guidance which well get into, as well. Giving up control of victorias secret selling a 55 stake to siycamore and stepping down. Well start with the deal of the day. Morgan stanley agreeing to acquire etrade valued at 13 billion. 58. 74 a share three months after schwab and Td Ameritrade announced a merger deal a lot of discussion of why not robin hood an enwhat it means for the sort of the framing of their Wealth Management business, jim. It is kind of amazing about 5 million accounts, maybe more robin hood with 10 million accounts in no time they were land speed record for accounts their success is driving everything they have the millennials. They have a different orientation. They have the easiest site to use. All hand held. Theyre racking up customers i have had robin on a couple times. Theyre the biggest threat