I recommend every one have a look at it over the next couple of weeks. Among other things, a distinguished economic historian who put this horrible event that we are experiencing right now to give us a sense today about what will determine how deep this recession will be, perhaps how long it will last and perhaps what is likely to come and whether the covid19 recession will leave longlasting scars in the global economy. I will turn this right over for penns remarks after which david will pose some questions and then there will be instructions on how the audience members can ask their own questions. Over to you and thank you for doing this. Thank you everyone for joining us this afternoon. In january and february we had a Strong Economy that has happened is the world has been hit by the covid19 virus and exalted is doing great damage but from the economic perspective, the fact that on the essential businesses are being shut down its having an enormous effect on economic activity. People
Numbers are coming out better than analysts had anticipated. The other big economic report of the morning has been next. Adp employment report showing a smaller than estimated gain in employment. Perhaps the precursor to fridays report but there is not always correlation between the two. Productivity falling 1 , even as the unit labor cost rose by 3. 1 , so there has been a lot to digest this morning for investors. Overall, we are still seeing this concern over Global Growth with a scenario coming back into play in the markets. That said, all averages are already up off of the early those with the session cutting the lost that we have seen just about in half. All three major averages. If you take a look at the bond can see the Economic Data and that is what we see for the s p 500 this morning. If you take a look at what is going on with the bond market this morning at what we have ,een seeing in the 10 year note i guess we do not have it, so we will be watching that to see what is goin
A lot of stock movements. We have shown you resources as there is movement you can see on the stoxx. Your stoxx 600 unchanged. Fed president s were talking about a possible rate hike in june and ruble at 66. 8. Lets get straight to the bloomberg first word news with nejra cehic. Nejra shell is trading lower bepite posting profits that analyst estimates that beat analyst estimates. 1. 18 billion. Inbev the Worlds Largest brewer said thirdquarter excludingse 3. 1 , shifts and acquisitions. Shares are trading lower. Adidas and will plan to sell its the company said it would keep its gold shoe and a peril and a peril business and a peril business. Has siemens has 20 to 2. 1 2ose billion euros. That is after an increase in demand for Energy Generating equipment offset a decline. Brazilian prosecutors have filed a 44 billion civil suit against the joint venture over novembers dam rupture that killed 90 people and poured and caused severe environmental damage. Credit suisse has agreed to sell
Terror strikes the capital of mali. Hostages have been killed. Mali commanders are quoted as saying ten gunmen armed with grenades. New isis propaganda video threatens the white house. There was a third suspect. In that daring raid the other night. Also, abaaouds on surveillance footage. Released from a federal prison this morning, 30 years after he was caught selling american intelligence secrets to israel. An american teenager schwartz of massachusetts was one of five People Killed in terrorist attacks in israel. The president and Hillary Clinton are completely out of touch with reality. In a blow to president obama, an overwhelming vote in the house in favor of a bill requiring high level signoffs for refugees. Slamming the door on every syrian refugee, that is just not who we are. A new jersey state trooper allegedly drunk on duty after rearending another car. I cant i got to get home. A kayaker falls out of his boat. All that. Touchdown, jacksonville. Thats tough, trying to cover
The Radisson Blu Hotel. Terror strikes the capital of mali. Hostages have been killed. Mali commanders are quoted as saying ten gunmen armed with grenades. New isis propaganda video threatens the white house. There was a third suspect. In that daring raid the other night. Also, abaaouds on surveillance footage. Released from a federal prison this morning, 30 years after he was caught selling american intelligence secrets to israel. An american teenager schwartz of massachusetts was one of five People Killed in terrorist attacks in israel. The president and Hillary Clinton are completely out of touch with reality. In a blow to president obama, an overwhelming vote in the house in favor of a bill requiring high level signoffs for refugees. Slamming the door on every syrian refugee, that is just not who we are. A new jersey state trooper allegedly drunk on duty after i cant i got to get home. A kayaker falls out of his boat. All that. Touchdown, jacksonville. Thats tough, trying to cover