This of course, the saudis are flooding the world with oil right now. The russians, its not clear where the heck they are because theyre very secretive, but i know who is not there, the drivers. Theres very little demand david and i talk about this with you all the time, carl theres this overall sense, you know what, if we just get things moving, things will come back again. We need customers. We need customers to get their hair cut, to go to the dry cleaner, the restaurants, and we need customers on the road without them, i really dont care what president calls who, you need a tariff to keep the to keep the saudi oil from coming here, and you need the chinese to restockpile, and frankly, thats still not going to be enough to be able to make it so oil real demand goes higher good point yeah. Sorry, carl. 6 Million Barrels a day, jim, is what im hearing right now as we still try to adjust. Even know we know each others cadences so well 6 Million Barrels a day here and its not just not j
Warning of more damage. Vonnie similar story here in the u. S. We are seeing a nice rally continue on the s p 500, up 4. 9 . The worst performers include viacom and cbs. Viacom went to market without cbs. Rallyingoleum company 21 . Boeing is another big help, particularly for the dow. The 10 year, 81 basis points. The dollar index, down at 1. 5 , some currencies really just flying today. Offshore trading at 7 08, a little lower than it was earlier today. The fixing was much weaker than it has been in the last several sessions. Thes get more details on session in global markets, here with us is taylor riggs. Taylor i want to talk about the major averages. The dow has rallied more than 20 to effectively pull us out of the bear market. We are still off 25 from the peak. As you mentioned, tech having some weakness yesterday but turning that around and getting some strength today. You are catching a bid for the 10 year, movement of money going into both equities and bonds, which is interest
The consumer staples, bottom fishing on companies and may think have gotten oversold. Companies could benefit from the work at Home Movement which is encapsulating this entire globe. Walgreens, have got walmart and costco among the gainers in the staples space. Theee another winner in dollar. Everyone is flocking to the dollar, the dollar index rising for a seventh straight day, claiming to an alltime high. The biggest loser against the dollar among the g10 currencies appears to be the pound. Romaine yeah. Scarlet lets look at todays market action. We will bring in our live reporter and one of the new voices. What have you been watching . Reporter oil markets were catching my eye. Wti, 14 in in brent. What is moving this action . It is a risk off water market story. Pressure oil as well and youre seeing all of this action move off of the official order from the Energy Ministry to saudi aramco to 12. 3 Million Barrels keep but as for the next coming month. That is how the indication is
Between 5 and 7 . That kind of sets you up for your morning. Dollaryen, safe haven bid full in play. The yen and this was see the safe haven of choice. The long end of the curve taking more of that safe haven demand. Crude rolling over now. You have the virus, what is happening between opec and russia, and now a travel ban, which is going to destroyed jet fuel demand. Really taking it on the chin. Time now for global exchange. We are going to bring you todays market moving news from all around the world. Our bloomberg voices are on the ground with all of this mornings top stories. We begin in washington, where President Trump suspended travel from europe for the next 30 days, effective friday at midnight. The been excludes the you could the ban excludes the u. K. Pres. Trump to keep new cases from entering our shores, we will be suspending all travel from europe to the United States for the next 30 days. The new rules will go into effect friday at midnight. Alix joining me as kevin cir
The left column, a lot of those names in the green. Banking names as well. The rest of the region still seeing a lot of pressure. The split is tilted towards more downside. In terms of the sector groups as well, the similar to what we have seen. Youre getting a lot of upside in names like resources, banks, financials are seeing pressure overall. Down for a sixth straight session. 25 from the peak a couple of eci weeks ago. Yvonne back from the slopes. And back in hong kong. Steve, we have been talking about that pivot from President Trump. Painting a dire outlook on this outbreak in the u. S. Why . Wasell, i hope that he looking at the data and also seeing what other, even local news abilities are doing in the United States, cites and states aswell cities and well those in europe and they are taking this very seriously. And donald trump says it is bad. He repeated that. Its bad, its bad. He said this could last until august or even later. Hes calling it an invisible lining. Yo enemy. Y