Theyre all moving lower put on the positive side, a report that china will accelerate agriculture purchases from the u. S. Which could deescalate some trade tensions and were set for a particularly volatile final hour of trade this is the s p 500s first major options and futures rebalancing day of the year. We have 59 minutes left. Were down just over. 5 sara coming up on todays show, pressure mounting on apple over the treatment of App Developers weeshgs going to speak with Roger Mcnamee ahead of the Developers Conference plus, david kenny holds not only the companys ceo title but also the chief diversity officer. Hell discuss neilsens recognition of juneteenth and how they can push for more diversity in the workforce and can figure out a way to measure it as well lets get straight to the market another volatile session to close out the week on wall street one that is headed for another upweek mike santoli is tracking the down action weve seen this afternoon. Yeah. A little fatigue th
Now, coming off highs of the session. Heres probably why. We have a delegate from opec saying that the outlying deal is just for about 10 Million Barrels of oil a day output cut. About a halfhour ago, we got reports that it could potentially be 20 Million Barrels of oil a day. 10 was the bare minimum that the market was actually expecting. The opec meeting is getting underway now virtually, so we are waiting for more details. Who cuts, how much, when . There were reports you could see 4 Million Barrels from saudi, 2 million from russia. If you get to the total output of 10 million, ok. You could get some kind of floor may. In other areas of the market, the s p on pace for its best week since 1974. We can thank the fed for that. However, take a look at what is winning, utilities and real estate. The dollar is rolling over as the fed throws a second kitchen sink at the market, as well as the economy. Some more get reaction to what the fed is doing. We are stepping further into the credit
As the outbreak crippled. Ctivity Saudi Arabia Oil export to day. D 10 Million Barrels a determine withts get you set up quick check of the markets. We are seeing u. S. Futures under pressure at the open. This after stock markets. Ebounded we have s s p 500 really moving green after we heard that the fed was commercial paper facility and additional move the we havent seen since financial crises. We are just getting more details from the fed. Establishing primary deal credit mentioned, were also getting a Deal Offering and funding. Rate. Te matching discount it will allow primary dealers to support market functionality. From jae powell saying thats what the fed was focused on which is restoring normal function in this dysfunctional condition. The fed saying that primary deal Credit Facilities established section 133, saying that available for at least six months from now. March 20th. Le starting on maturities up to 90 days. Were getting some of that on thecoming through latest effort by
A i will tell you so much to get to so lets get started. Ahead of the World Economic forum in davos today the i. M. F. Has tremendous Economic Forecast for 2020 from 3. 4 percent to 3. 3 the downgrade was issued on the back of weak data at the end of 29000. 00 led by india slowing growth and credit squeeze this is the i. M. F. 6 straight reduction though its cautiously optimistic that Global Growth may be stabilizing at subdued levels Manufacturing Activity and global trade have bottomed out but the im not warned that the Global Outlook remains on the downside additional risks include rising geopolitical tensions between us and iran and higher Tariff Barriers between us and its trading partners most notably china mark conflict is a rising between france and the u. S. Over the new french general attacks targeting Big Tech Companies and this poses a big risk if it is not resolved davos as italy the u. K. Turkey and other e. U. Countries are likely to follow frances lead. The i. M. F. Upg
Reporter you may remember nghectober meeting there was a heavy police presence. Tonight police were here but out of sight while protesters took over the meeting. Tonights Oakland School Board Meeting packed with people protesting School Closures. And they came to express anger over what happened at the Board Meeting last month. On october 23rd parents and teachers angry over the districts plan to close and merge a number of schools because of declining enrollment got into a violent clash with police after a protester jumped over a barricade. A number of people were injured. Tonight at least one person demanding an apology. Your cop took me to the hospital strapped to a gurney in handcuffs. Ive been coming to school Board Meetings most of my life. Weve never had it like this where the police have been used against us here. There will be an outside investigator coming in to look at what happened, fully analyze if things went wrong, why they went wrong, whos responsible. Reporter as prote