The s p is down 1. 9 . The only sector higher are the retailers, but in the s p, that includes netflix and amazon. Crude oil up . 43 right now, 1. 9 . The retailing index, up 1. 6 . Abigail doolittle is with us now for a deeper dive into the afternoon session. Abigail it is certainly a risk off tone with the across asset class check with stocks lower. A look at the major averages, the dow is down 2 , the s p 500 close. Interesting, the nasdaq is down just pointed percent after that big rally you were mentioning last week. The question is, is this healthy consolidation or the beginning of a swing back down to the sears lows this years lows . The russell 2000 also down 3 . That was the best performer last week. Maybe suggesting consolidation, but it is all about earnings, uncertainty about what the virus will do to earnings. Take a look at oil after the opecplus deal output cuts of about 10 . Oil is up 1. 5 . The energy sector, one of the better sectors. Those are the movers to the upsid
Check futures, dow futures right now in the red to the tune of 360 points, nasdaq futures down 110 and s p futures lower by 40. Oil prices under pressure this morning. The International Energy agency warning that demand could plummet to less than 25 years. Airlines reaching a deal for Financial Aid. Mornings with maria live. Striking a deal Oil Producing countries agreeing to cut output by 9. 7 millionbarrels a day in an effort to stabilize the price of crude. President trump weighing in on much anticipated agreements. Countries around the world will cut Oil Production by approximately 20 millionbarrels. People are saying 10 million but we think the number that theyll actually hit is closer to 20 millionbarrels a day. This historic action will help americans supported by the oil and gas industry. Saudi minister say the cuts will amount to 20 million a day and confirmed what President Trump just said when taking into account policemens by other g20 nations and preserves. Prince abdulazi
780 points s p also up 3. 4 the nasdaq up by 2. 5 . This morning, you do see some red arrows right now, the dow is down by 111 points the nasdaq down by 65 points jobless claims number that people will be watching so closely. Keeping an eye on trezy yields, it looked like the yell was trading at 3. 7 . Thank you, we have an update now and numbers. Confirmed cases in the United States is now more than 432,000. More than infections in italy, spain and germany combined new york state has 151,000 and 6,200 deaths Trump Administration is saying they are seeing real evidence that the measures being taken are working. A battle is brewing on capitol hill over new outbreak funding demanding 250 billion in new funding. House speaker and Senate Minority leader saying any new package would need to include more for additional money for hospitals, state and local governments. The senate is expected to bring competing measures to the floor today. Neither are expected to pass fed chair jay powell is s
To back the bell and set to publish their own support program. Force johnson orders the u. K. Into a three weeks lockdown, sweeping new laws to breakup gatherings and fine any dissenters. Taylor meantime, i want to bring you some breaking news coming out of china. Their companies are having the worst quarter on record, according to china. The headline as it catches my eye, the economy has not gotten better as much as we thought they would be returning to work. It looks for the first three months of this year, a Quarterly Survey of all the firms, it looks like every individual sector was reporting worse results than originally thought. Saleswas a widespread in amid the harder hit retail sectors. The collapse in revenue and profit. Again, Economic Activity collapsed in february. This is as we knew that there was the massive virus spread that was going on. I think the key headline is Chinese Companies continuing to have the worst quarter on record. Every individual sector reporting worst
Goldman says the coronavirus will hit prospects for copper, as Chinese Industrial action is in significantly below capacity. Anglo american starts a busy week for commodities earnings today. The curse of monsanto. In the midst of the roundup scandal, bayer faces a potential multibilliondollar lawsuit over a second weedkiller it inherited in the 2018 chemicals megadeal. Just under an hour away from the start of cash Equities Trading across europe. We will take a look at futures this morning. Acrossseeing gains europe and u. S. Futures. We still have a wild to go until the u. S. Opens, but we have decent gains in europe. Dax of more than one third of a percent, ftse futures up. 25 this morning. We also seeing gains in the u. S. , although we have solid a seven a solid seven hours until he open up over there. And dows p, nasdaq, jones futures all gaining this morning. We have breaking news on china. China is delaying its annual npc npcing according to chinas going to review the possibilit