Africa. We begin in the United States where figures just released show almost 3200000. 00 people have filed for Unemployment Benefits it keeps april on track to be the worst month for job losses on record more than 33000000 people filed for unemployment in just the past 7 weeks and economists say Economic Growth could plummet by 30 percent in the 2nd quarter in the u. K. The picture is also looking bleak the bank of england expects the u. K. s economic output to shrink by 14 percent this year and unemployment to rise to 8 percent meanwhile the European Unions been warned to brace for its worst ever recession with the economy tipped to slump by 7. 4 percent after years of growth but figures from china are suggesting a different picture their exports rose in april for the 1st time this year up 3 and a half percent after many factories reopened. Our economics editor is watching developments from london. I think notoriously difficult at this stage to actually say how deep recessions will b
The challenges battling false information about socalled cures for the grown a virus in africa. We get in the United States where new figures show almost 3200000. 00 people filed for Unemployment Benefits it keeps april and track to be the worst month for job losses on record more than 33000000 people have filed for unemployment in just 7 weeks and economists say Economic Growth could plummets by 30 percent in the 2nd quarter in the u. K. The picture is also looking bleak the bank of england expects u. K. s economic output to shrink by 14 percent this year and unemployment saw rise to 8 percent meanwhile the European Unions been warned to brace for its worst ever recession with the economy tipped to slump by 7. 4 percent after years of growth but figures from china. Are suggesting a different picture their exports rose in april for the 1st time this year up 3 and a half percent after many factories reopened well lets get more now from our economics editor abbott alley whos following th
Decades. The economy there slowing by almost 7 . And two dow components moving higher boeing that is restarting some production in Washington State and proctor and gamble reporting strong sales growth. Ill hit that later in the hour. Yes, indeed, hooking forward to that. Markets up 1. 5 59 minutes left of course. Lots of big guests coming up including we will discuss the broad market rally with bank of america and blackrock and chamber of commerce ceo, tom donohue will discuss the call for congress to provide more emergency funding to Small Businesses bob pisani is tracking todays rally. Adam from staten news is with us to talk about the market moving report he cowrote on gileads drug bob, lets kick things off with you. Well, we are up today and have been all day, but were at essentially just off the lows for the day. So the markets kind of running out of steam here. The good news here is is all the beaten up sectors are rallying today on the somewhat hopeful news on coronavirus treatm
Are moving slowly. Were down 1. 5 on the s p with one, two, three four sectors down more than 3 as we stand. Coming up on todays show, a rare and exclusive interview with the apollo manager and ceo, leon black well get his tack on this volatile market. Plus the big push with air mark to support new York Health Care workers. Well also speak with germanys minister of health as that country grapples with when and how to reopen its economy. A a better performer in a relative sense with handling the virus to come European Countries and coup tris. Lets focus on the big stories bob is tracking the sell off meg has new details on the rush to find a treatment for the virus. Phil is watching the airlines. Brian sullivan covering the historic opec deal its lack of impact on oil prices so far bob. And a great rally of last week, 12 on the s p fizzled a little today, but no surprise. Let me just show you today so banks were going to get earnings tomorrow. No surprise ch banks usually wilt a little
Measures fail to emerge. On the monetary side, the bank of england, becomes the latest to cut rates treasury yields hovering around 80 basis points. Full Team Coverage of todays market plunge. Mike san tolly is with us and meg on the latest on the coronavirus. But well begin with breaking news out of washington major Bank Executives meet with the president today. Well get to wolf at the white house. Reporter the president and the Vice President and the treasury secretary currently hosting in the white house behind me the leaders of the major Financial Institutions of this country in attendance we have the leaders of jpmorgan, bank of america, citigroup, goldman sachs, wells fargo, black stone making it the type of gathering we havent seen since the peak of the financial crisis. Theyre all inside, as we speak. What will be on the agenda well, two main things. Number one, liquidity and the functioning of markets number two, lending to businesses that are most affected by the coronavirus.