Seriously when you have such weakened trading volumes. In oil, a choppy session overnight after a big gap down sunday. The direction now depends on when the Global Economy will be able to open up, and that will be the indicator for all of the economic data, as well as risk appetite. Time for todays market moving news from our new york team. We begin with a historic price deal. Plus coming to an agreement to to cut minutes output. ,inutes after the deal was done the Saudi Oil Minister saying that opec is up and alive. With more is in reordering. What do we with more is annmarie hordern. What do we know now . Annmarie they were able to finally clinch this deal, 9. 7 Million Barrels a day. I would say that the main takeaway, goldman put it as historic, but insufficient, given how bad the demand loss is and how bad the supply glut is. These cuts of 9. 7 Million Barrels a day. We should also say that goldman puts it at 4. 3 Million Barrels a day, when you take from First Quarter levels, ass
The week. Opec and its allies will meet thursday to discuss a new plan. The virus has farreaching implications for businesses. A new study says global trade may be cut by one third, more than what was seen during the financial crisis. Shery lets get you started with a quick check of how markets ended in the u. S. We are seeing u. S. Stocks again pushing into bullish territory after failing to do so in the last session. U. S. Stocks now gaining more than 20 over the march 23 low. Every sector in the s p 500 was in the gleam green, led higher by Energy Stocks. Dow gained more than 3 . U. S. Futures unchanged. Nasdaq gained 2. 6 in the regular session. Take a look at what oil is doing, because we saw it rebound from the weakest level since the start of the month. It spiked a few minutes before the close, after the opec plus meeting will discuss and output cut of 10 Million Barrels per day. At the moment continuing to add to the gains, up 4. 6 . Just breaking on the bloomberg, a saudi arab
Global coronavirus cases top 2 million. Germany is set to start loosening the lockdown for next week, and President Trump will unveil guidelines to reopen today. European futures turned positive despite historic declines in retail and factory gauges, sinking stocks on wall street. Attention turns to todays jobless claims. Plus, wti crude at an 18 year low amid a record collapse in the u. S. Fuel demand. Washington is considering paying drillers to leave oil in the ground. Just under an hour away from the start of cash trading. Nymex crude still under 20 a barrel, but rising today. We see futures doing the same, regardless of where you look. European futures are up half a percent. On dax a percent futures, quarter percent on ftse futures. Dow jones, s p, and nasdaq many contracts all showing a little bit just the slightest 10th of a percent of a game today. Anna . Anna lets talk about the breaking news from european corporates. The travel and leisure sector in focus when it comes to the
Need for Migrant Workers we have a show for you today so lets go and dive right in. And we begin with our daily chrono virus update the Global Pandemic now nearly 87000 deaths and more than 1400000 and factions on tuesday President Trump the World Health Organization even threatened to withhold funding from the institution he said the organization is very china centric. W. H. O. Thats World Health Organization. Receives their surveillance of money from the United States. And. We pay for a majority the biggest portion of their money. And they actually criticized and disagreed with my travel ban at the time i did it and they were wrong theyve been wrong about a lot of things. And then a lot of information early on they didnt want to do very they seem to be very china centric. And we have to look into that so were going to look into it we Chinese Foreign ministry responded to trumps comments by defending the United Nations health agency. China will as always firmly support the work of the
The yield down below. 6 last time i checked, it was at 0. 597 dr. Fauci saying the first human trial testing for a covid19 vaccine is now on track calling it the ultimate game changer but that public distribution is still 12 to 18 months away. President trump was asked if the stom pile of personal protective equipment was nearly depleted. We are sending it directly to hospitals. We dont want to take it before it gets there. We asked many states to do this. Many states have people or where they make clothing, we said see if you can get it directly from those manufacturers. The president considering halting flights to hot spots in the country, which would be a shift in this batter and also potentially have an impact on when and if the economy will return to some normal si in the meantime, total death numbers have topped 5,100. Confirmed cases have topped 200,000. In new york, topping 81,000 cases. In italy, the lowest daily death toll the new number of active cases declining. The hate he