Space. Oil getting a bit of a reprieve. The concern is you have even more oil flow if the opec deal comes to an end. We want to get you todays market moving news from new york as well as washington. We want to start with the latest pmi data. Factories around the world suffering one of their grimmest months on record in march. Fbloombergs Michael Mckee joins me for more. Theres a lot to dig into. Give me some of your takeaways here. Michael mr. Rogers word of the day is contraction. Across the developed world, they are pretty bleak at this point. Some of them not as bad as thought because of a quirk in the data, but lets go through the data right now. Anybodye hardest hit of i the virus, and now the hardest hit in terms of the pmi number. Eurozoneance, germany, u. K. Are also in the 40s, which marks contraction. New orders of production crashed, but there is a quirk in the data where supplier delivery times are linked. However, in this case, there are no supplies to deliver, so it makes
Discussing just that, an early return to work. 9 40 eastern time today on this program. There is outrage at Speaker Pelosi loading up the stimulus package with a host of items unrelated to supporting workers and industries. For example, canceling post office debt, the return of obama phones, same day voter registration, 35 million for the Kennedy Center for performing arts. What has all that got to do with getting money to people who have just lost their jobs, millions of workers thrown out of a job. However, treasury secretary mnuchin and senator schumer did meet last night, and they suggested that a 2 trillion rescue package, stimulus package, is close. Well see. All this has given the market a shot in the arm. For much of the morning, we have been limit up for the dow jones average and at the opening bell, the dow will be up, what, 900 points, maybe more when the restrictions of the limits on trading are off. S p, nasdaq also up 4 , 5 . Clearly, investors like the 2 trillion rescue
On the stricter role of the border this weekend plus the Senate Working overtime on up to 2 trillion package ahead of mondays deadline for a final vote, florida senator marco rubio takes us up and we will break down the stimulus bill in u. S. History. Also today President Trump emergency war power to help, white house creating manufacturing advisor Peter Navarro is here to the response of coronavirus and impact on the economy. Also he has been studying the pandemic from a white house chief strategist steve bannon how the coronavirus is impacting the country and hospitals. Are they on the verge of breakdown . Plus hope for the future, innovation and science in america, the ceo of Johnson Johnson is here to discuss the vaccine and antiviral treatments of coronavirus. All that ahead. Maria now the latest on coronavirus today, there has been over 26000 cases in the u. S. More than 340 people are now dead. More than 311,000 cases and 13000 deaths worldwide. The state department has raised a
The banks and government begin to roll out a 350 billion loan relief package Consumer Staples just turned positive rest of sectors are negative 59 minutes left of trade coming up on the show, well speak exclusively with Jeffrey Katzenberg well ask him about the Coronavirus Impact on the entire Entertainment Industry plus, the ceo of go daddy yoins us with a look at how Small Business clients are dealing with the kris and of course with job losses but we begin with breaking news in washington. President trump meeting this hour with executives from Energy Giants like exxon and chevron at the white house. Brian sullivan joins us now with more about what we know, brian, about this meeting yeah. What we know, what we dont, thank you very much. A couple of things here, one of which is obvious, one less obvious. These oil executives, the ones weve talked to, that ive talk ed to off the record, said theyre not looking for a bailout. They dont want any kand kind of a bailout. Theyre being reque
Unusual session but critical. Mr. Speaker, this legislation represents a bipartisan and resolve to meet the coronavirus challenge head on. It represents a focusnt on families and workers with the objective to make them safer and economically supported. That will protect workers as we all doo our part to flatten the curve. Public Health Officials have made it clear the only chance we have c to prevent our system to be overwhelmed with the pandemic it is threatened to be for his as Many Americans to stay home as possible. It is however necessary for us to be here, to pass legislatio legislation, to respond on behalf of the American People through this daunting challenge. The closure the large parts of the economy must be temporarily shutec down cause severe disruption for businesses and workers we saw the impact of this yesterday when new Unemployment Insurance claims increased by more than 3 Million People 3 million individuals. Those that rely on them for support of their families and