Points. Brent really rolling over by about 5 , much worse than wti. It is now a pure demand issue. You see equities taking it on the chin, as well as commodities. Time for todays top market moving news from new york and our london team. We want to begin in the u. S. Come over Senate Democrats blocked Mitch Mcconnells attempt to advance the coronavirus economic rescue package. Minneapolis fed president neel bloomberg the fed can do more to support the economy. We are being more aggressive. Is there more we can do . Yes. Is there more we may end up doing . Yes, but i feel we are being very aggressive. Alix joining me for more is Michael Mckee. Walk us through what he said, what more they can do, and what is going on in d. C. Michael jim bullard is the one who really scared the markets by saying a 30 Unemployment Rate and perhaps a 50 annualized decline in gdp during the Second Quarter. Morgan stanleys is the closest to that 30 , so he thinks things can be much worse. They still say the f
Todays battle for control and all of the issues at stake in just a few minutes. But first, we have a round up of the mornings other top stories. Joe talks about it. Oil prices falling sharply, expanding losses for a fourth session. Check this out right now. You thought this was bloody yesterday, down another 2. 6 this morning. 76. 70 for wti at this point. Saudi arabia cutting prices to the United States. The exporters battling for market share here in the Worlds Largest energy consumer, nation, also weighing on prices. Signs that opec is ready to curb outputs. Oil prices are down more than 20 from this years peak in june and, andrew, this is a huge deal because, in saudi arabia, they can produce that oem oil for about 30 a barrel. Here in the United States, if you start looking at fracking and some of these other techniques, its more complicated, its more expensive, and it costs somewhere between 6 0 and 63 on average to get some of that oil on the ground. Weve got the number of stock
Forth questions about where we are headed on this yield. Mark graham sends me a note every day reminding me hes been calling for 2 before we see Something Like 2 or 2. 5 . Check on out was been happening tt dollar. The dollar is up against the euro, 1 is. 2596. Gold prices at r at this hour, 1,206. 10 an ounce. Coffee, futures jumping to a twoyear high. Andrew, over to you. The ebola situation, North Carolina drugmaker kumerick is providing an intrimtal drug to a patient being treated in dallas. This is with the approval of the patient. Meg has been covering this story from the start. Meg. Good morning, appeared rue. First, news coming from the u. S. Government about what its looking to do to prevent further passengers coming into the United States from the affected countries with ebola. President obama yesterday afternoon saying the u. S. Is looking at strengthening passenger screening, both out of the effected west african countries and into the United States. Two additional passenge
If youre waking thup morning be, lets get you up to speed on the markets. The futures are suggesting a fairly negative open. Dow open lower by 130 points. Wall street is returning from a long Holiday Weekend which included no trading on friday and jobs report though despite their trading on friday which shows march payrolls raising 126,000. That was much weaker than expected. We had lots of people on the set on friday. Not a Single Person got close to the number. Everybody was above. All though everybody was below i was not. I was not above. I saw the thing. Everybody was below. Everybody was below the estimate. This is our thing. Not your thing. We do it every morning when it comes on. You cant duoover. Did you draw it yourself . I did. I drew the bottom part. The top part you like it . It was great. Every month i have to come up with something. I wont play the stupid. You see how productive it is. Like it matters what my guess is. Write down three numbers. Who cares what i i put pie
Likely added 193,000 private jobs last month. And then the Big Government jobs report out on friday. Sara, thanks. In Corporate News, a number of legal headlines out of the Financial Sector this morning, jpmorgan agreeing to pay 614 million in the mortgage fraud case. The late nest a string of legal claims against the bank. As part of the settlement, jpm admitted it defrauded federal agencies by underwriting mortgage loans. At issue, thousands of insured loans that were not eligible for insurance by the fha or department of veteran affairs. Morgan stanley will pay 1. 25 billion to resolve the mortgage lawsuit. Morgan will add 150 million to its legal reserve as a result of the settlement. And a new judge priding over the bank of americas proposed 8. 5 million settlement has postponed entering a final judgment in the case. The decision raises the possibility of additional rel maneuvers. The judge agreed this wouldnt take effect until at least february 19th. Andrew, what was the total of