Cooperman taking on trump over the Federal Reserve in times of crisis Worldwide Exchange begins right now. Good morning and welcome to the show im dominic chu. Announcer to Brian Sullivan. With me the entire hour, peter bookfar wiright now stock futur indicate what could be a nice open to the upside, about 175 points within the last hour we were up 400 to 500 points implied. Well see if that moves. The Dow Jones Futures have been going from losses all the way to gains. At one point we had a range of 1100 its been a volatile, possibly preshadowing the market. Tenyear government yields we gone down to 1. 0 3 year, setting the record twoyear treasury notes, 1. 2 . The session low for americanbased crude is 43. You can see 45. 53 the last trade there. We have seen a bit of a downside move in the last hour or two lets watch whats happening a rebound in under way, in asia and europe as well as investors hope for action from global Central Banks around the coronavirus. Matt taylor is in singa
Joint action. Saudi arabia wants producers to agree on additional cuts of one Million Barrels per day. Nejra what a wipe out on wall street. We will get to that in a moment, but first, breaking headlines coming through. We are still in earnings season. Basf sees significant first half Coronavirus Impacts on the Global Economy, and it sees 2020 point 2 ebit of four billion euros to 4. 8 billion euros versus 4. 5 billion euros in 2018. Those are the two red headlines. They are saying they do not expect the virus effect to be fully offset over the years, so some important headlines coming through on the impact of coronavirus. Elsewhere in the numbers, it is proposing a full year Dividend Per Share meeting the highest estimate, but it sees a significant first half Coronavirus Impact on the Global Economy, bracing for a possible profit drop on coronavirus but also the slump in autos. That is the main takeaway here, adding to industrial gloom by adding to the profit drop due to the impact of
After the storm, global stocks stabilized after the worst selloff since the financial crisis. U. S. Equity futures rise. President trump says he will seek substantial relief for industries. Italy, though, in lockdown. A ban on travel and Assembly Goes nationwide. The who says the threat of a pandemic is very real. Crude gets back some of its losses after the biggest drop in three decades inspires decades. , after theaudi oil kingdom cut prices. Getting in there, looking at the cheap stuff. Do you see there anywhere else in the market . What does the gmm look like . Anna getting in and looking for the cheap stuff, emerging markets, rebounding rescan assets risk assets. Msci asian markets. In fx markets, the big move is around again. Gainrday, we saw the yen coming yesterday, we saw yen selling. The moves into havens yesterday a little overdone. Im seeing some kind of stabilization. How long will that last . We see yields going up a little bit. Some of that move into havens being unwound
A drag on the Global Economy in 2020 counting the cost on aljazeera. When chinese or persons clamp down on what they see as wanted or illegal activity. They only make the must they pressure the accused to confess into the woods. Lawyer. Of this act of. The evening the writer and state media. Often before the formal conviction on this episode of 1018 we investigate chinas public confession of a real or just show. Their feelings. I apologize for syria for this d very sorry. Displays of contrition. But some i want to say that was. Just all. Admissions of guilt all they had of what happened now while woody orders his household. Televise. To audiences of hundreds of millions of people across china and beyond since at least 2013 chinese authorities have subjected dozens of alleged law breakers to this kind of treatment. The televised confessions are regularly presented as interviews and embed it in news programs review high lead the country in 2004 some reports like this one featuring swedis
Italy pare down its economy to essential services. The United States tells citizens to reconsider travel abroad. 125,000. Ses to pass manus warm welcome to daybreak europe. A spectacular implosion in confidence in structures, government response, and the fiscal response from the United States. We have recovered some of the ground, 1. 5 . Australia edges a bear market. Travelstaring into a no edict from the United States of america. 17 trillion in aussie response mechanisms on stimulus. Trying to avoid a recession for the first time in 30 years. To the bond market, jp morgan warned very clearly about the threat to the bond market. 0. 5 is on the way. Trump spoke and they shredded the treasury market. Down by 15 basis points. The fed is galvanizing itself. , 175 billion. O global headt is the of flow Strategy Solutions at societe generale. Good to have you with me. First take, i would say it is an implosion of trust in confidence in response from the u. S. It clearly is a major issue. Wh