Texas and louisiana preparing for laura to makela landfall asa possible cat 3 hurricane and facing new head winds of a pandemic and the end of an era. They start the end of a new slogan as Everybody Needs to keep their hands out of their mouth. This is Worldwide Exchange on cnbc good morning good afternoon good evening im Brian Sullivan thank you for joining us on a busy tuesday we have to start with the markets and your money despite whatever news there is out there, the money flowing into stocks just does not stop futures higher, maybe on possible headlines of u. S. china trade talk front all of this coming after yet another record setting rally s p 500 closing above 34 time higher and nasdaq hitting 37 records for 2020 the dow, now less than 1 away from break even on the year. Could get there today with the way the futures are looking. Speaking of the dow, there are big changes coming as announced late yesterday three stocks in. Three stocks out sales force will replace exxon mobil.
Australiachina relations think again with beijing slapping penalties. Australia will challenge the move at the wto. Shery lets get you started on how the markets are trading. U. S. Futures under a little bit of pressure, down 1 10 of 1 of the open. This after u. S. Stocks jumped the most in six weeks during the regular session. It was a risk on trade. Stocks finish at the highest level since early march. The s p 500 saw gains in cyclical stocks that have been battered leg energy, autos, banks. More than 90 of the s p 500 gained ground. More haven stocks did lag. The nasdaq rose 2. 64 . We did get some comments from fed chair Jerome Powell before the hearing tomorrow. The fed prepared to use its full range of tools as the benchmark lending rate reaches zero until the economy is back on track. See how markets are shaping up in asia. Sophie kamaruddin joins us in hong kong. Soph . Sophie the bulls perk up in asia. We have futures pointing largely higher. Nikkei futures fell somewhat but h
Health workers across india doctors say grieving relatives of patients targeting them. Islam on the brink of even more despair the coronavirus fears for a desperately poor part of argentinas capital. With your sport origin time strike and carlos tevez thats called a nice fellow footballers to open up their wallets and help during the current coronavirus crisis. So that the economic devastation caused by a corona virus is becoming clearer with the United States announcing a major rise in the Unemployment Rate a record 6600000. 00 americans applied for Unemployment Benefits thats 3000000. 00 more than last week it is a similar story in spain a lot down there cause more than 800000 redundant. These in march many of them Seasonal Workers such as in the Tourism Industry the 3 and a host of 1000000 spaniards do not have a job and the number of british people applying for government benefits is 10 times higher than normal almost a 1000000 britons claimed universal credit in the last 2 weeks t
Been. I think the 10 moves weve seen n any direction, 4 on an up day is a little bit of a sigh of relief on this friday. We begin with the highest toll from the coronavirus is in italy. Chinas ntry surpassing numbers. Italian fatalities topping 3,400. Lockdown nationwide continues. Europe at the epicenter of the disease. France reporting a 41 rise in deaths. 28 . , an increase of now, here in the United States to california and the Governor Newsom ordering the entire state to selfisolate at home. Thats 40 million people. Far the move is the most stringent measure in the u. S. To curb the spread of the virus, allowing people to leave their homes, but for groceries and medicine. Otherwise, social interaction is limited. Businesses, by the way, not deemed essential are closed. Negotiators of postbrexit trade talks are now isolation because of the coronavirus after showing symptoms of the virus, the chief negotiator david franz isolating himself earlier on thursday. Mr. Frosts counterpart
About 800 points on the dow. Youre still looking at a loss of greater than 5 a huge story today the crude oil crush as the saudis initiate a price war. We should think about it in terms of the speed and velocity of decline the s p the is down about 17 . We hear about the news with are the russians and saudi arabia. The problem i have is you have a very healthy patient being the market now it appears to be in intensive care we dont seem to have any doctors around to treat them in intense iive care negative rates are present in the uk, first time ever. We are battling here in the United States with the potential for negative rates the missing link in all of this which is what we saw in 2008 was a global coordinated effort. There does not seem to be a globally coordinating effort to address that i think thats what the market is riding against. Liz young, what do you see . Lets start with the globally coordinated effort i think theres been an effort from Central Banks thats been reasonably