Drug failed in trials. Good afternoon afternoon and good evening, good morning. This is viviana , this is bloomberg surveillance. First thing is first, this is what your markets are doing. A lot of the focuses on earnings. A lot of the focus yesterday was the fact that we saw this blunder through w. H. O. Leaking. We understand gilead and the impact we saw on the markets because the trial was not as successful as a lot of people were hoping it would be. Overall, your markets are also focusing on oil. Touch today, west texas actually extending the recovery, treasuries climbing with the dollar, and a lot of the focuses what is going on with italy, the Italian Government bond fell after the europeans felt signed off on this plan, immediate follow from the pandemic, and we also look at Corporate News and some of the earnings. Ifo german Business Confidence falling, but it was expected. Of the 79. 7 figure. Again, that is the lowest ever, and in about 30 minutes, we will speak to the head o
Road, maybe that is actually not the case. Rolling overs as well. Maybe that is oil. It could just be a sentiment feeling, as well as any sort of Political Risk because of kim jonguns health uncertainty. Lets get to todays market moving news from our team in new york, as well as washington. We want to begin with this meltdown in the oil market. Wti futures plunging below zero for the first time in history yesterday as many storage tanks reached capacity. Brent for delivery in june pushing to the lowest levels since 2002. Annmarie hordern has more. Annmarie what we are really watching today is the number of contracts for wti and brent. Yesterday, the big question was is this just a big technical anomaly. I think what you are seeing today is that this is more widespread. What is showing is what traders have been saying for quite some time. Thething i want to bring up point is the june contract, trading at 16. 69. That is a contract that is not expiring. In 18dropping the most years. You
Basis points. Lets get to our guest now. We have a very fascinating guest right now. Ed hyman, Institutional Investor economist of the year for decades. The surveys he carries out are unparalleled in the industry. We are going to talk about Central Banks, the ecb, and the fed meeting this week, and the bank of japan coming out with some decisions today. Chairman of evercore isi, is with us now. Small and mediumsized enterprises, and companies that do business is with china. Obviously, the data is falling off a cliff right now, but in your estimation, what will the severity of this recession be in comparison to, say, 2008 . Ed much worse. But this is a very interesting time for me. Ive probably been the most bearish person on the street with our gdp numbers down 50 , and like you say, things have been kind of freefall, Company Surveys included. I just wanted to share with you that for the past two weeks, our surveys have increased a little retailers and restaurants. The checks that were
The dollar index is above 100. Crude is trading at 1. 30 right now. Europe, guy. Vincent lets take a look at what is happening here guy lets take a look at what is happening here. As you can see, it is down heavily on the day, but still trading at 20 a barrel. Down by 20 on the session. We are hearing the currency effect coming through. One of those is the norwegian krone. The dollar benefiting as a result. Copper trading sharply down as well. We are seeing this bleed into other parts of the commodity space, as a result of which the lead sectors down are the oil and gas sector and the mining sector. European equities down by 2. 37 at the moment. Every single sector in negative territory. Vonnie a rough day, for sure. For more on the ripple effects of the oil selloff, we are cibcd by rebecca babin, private wealth senior trader. Anticipating that it would run out of shares, waiting for the sec to issue more. What do you read from this . Should we think of it as having wider implications
All thatnd more, on tonights pbs newshour. Major funding for the pbs newshour has been provided by Consumer Cellular offers nocontract wireless plans that o are designed to help youre of the things you enjoy. Whether youre a talker, texter, browser, photographer, or a bit of everything, our u. S. Based Customer Service team is here to find a plan that fits you. To learn more, go to consumercellular. Tv bnsf railway. Financial Services Firm raymond james. Fidelity investments. The john s. And james l. Knight foundation. Fostering informed and engagedun commities. More at kf. Org. And with the ongoing supportt se institutions possible by the coion for public broadcasting. And by contributions to ur pbs station from viewers like you. Thank you. Woodruff round four of rescue aid is on its way through the u. S. Congrmis tonight, for ions of americans hurt by the pandemic. Meanwhile, infections worldwidei have topped 2. Ion, including well over 800,000 cases and nearly 45,000 deaths here in