White hou on remdesivir and looking past chinas first gdp contraction in 40 years oil below 18 is something to watch. That report out of stat news reflects how much hope there is, whether its remdesivir or Something Else for an effective treatment going into the fall. It does it may also reflect thin trading having spoken to a number of people this morning who are wondering whether or not you can have big moves in the market with just a billion dollars of futures being bought, which may seem like a lot, but is not. Because, you know, you have a lot of Fund Managers who tighten risk, they took down their net exposure, perhaps they didnt kel quite a sell quite as much its unclear how much buying power is needed to move the market in a significant way. Remdesivir itself is important were all hopeful that it is going to actually have an impact on the outcome of the disease for those who get very sick and end up in the hospital but it is not going to be what we call a chain terminator it is
Exception of the new zealand dollar. We see the japanese yen weakening a bit and the renminbi was in focus. To 1714. Nching closer 711 93 for your onshore. Bonds are mixed across the board. Australian 10 we are watching it was the rba announced not a smaller amount than expected. Seeing a little bit of a selloff when it comes to your aussie bones. Up eight basis points. Areomes to brent, we getting a little bit of a breather. Higher. A half percent we are hovering around 21 for wti. There is optimism President Trump is going to be meeting. Ith oil execs that is leading to some of the oil bulls to come back out again. Lets get the first word news. U. S. Intelligence is accusing china of concealing the true extent of the coronavirus outbreak. Underreporting total cases and deaths. We are told the public statements about the infection have been intentionally incomplete and the numbers are fake. Beijing has changed its reporting of people and added hundred 30 extra cases in the first day.
4000 with more than 200,000 cases of the coronavirus nationwide. Stocks falling yet again. I want to bring in romaine bostick. Is this investors waking up to the fact this is going to be going on indefinitely . Romaine that is what it is. The town changed tone changed yesterday out of washington. The cheerleading ran into the reality we are seeing a growing number of deaths. Where i have at in new york i am at in new york and the visuals on the ground, it is depressing and stark. It is reminder of how much longer we have to work ourselves through this Health Crisis and what that means for the economy. The idea youre seeing more cities and states begin to either impose shutdown orders or impose when they talk about the market response, the market is pricing in recession expectations, the idea the recession is deeper, longer, and the recovery may not be the v shape some were hoping for. Only one stock in the Dow Jones Industrial average, that was jumprt which had about. 4 today. When you
The new for numbers government and its controversial economic measures. I want to get jones and this is the business live from berlin thanks for joining us i was starting with a quick look at the markets which dont seem impressed by the u. S. Impeachment drama after wall street closed flat to asian markets are trading only slightly lower but after analysts dont see anything surprising in the move also the republican dominated senate is widely expected to vote against removing donald trump from office thats the political upheaval is not expected to change matters of trade or the economy major u. S. Indices are currently trading near record highs spurred by progress towards an initial u. S. China trade deal. And of course markets in europe are still closed but our financial correspondent is already feeling the cold for the market pulse for a scum who isnt there what kind of reaction if any can we expect on this side of the atlantic. Well also here in frankfurt the share market is trading
Was. Called. Arrested for corruption we are. Actually the way forward to solve africas energy crisis. Production instead of 20000000. 00. Backers. And french president obama travels to west africa to discuss the future of the save our currency. Should it. Come to business. Africa your updates on todays african and Global Business news here on the us welcome. South African Police have arrested 2 former executive at embattled power utility eskom theyre charged with fraud corruption and Money Laundering in connection with new power plants that are supposed to alleviate the countrys electricity problems south africas grid nearly collapsed in 2008 and eskom has had to enforce rolling blackouts ever since in a bid to relieve pressure it is causing chaos for the country and the economy the contracts involved in the allegations are worth around 50000000. 00. But africa has the worlds slowest electrification rate in an unstable pas applies constantly hampering businesses all over the continent