Other question is where what has apple become . Tom instead of the markets and the nasdaq war that we have seen , ties into apple, this was actually, francine, a huge deal yesterday. Arguably the biggest meeting they have had in three years. We are not going to go apple fan boy on it and explain all the stupid is that and the other thing. But i also want to go in with alex webb, sort of the racket that theyve got where everybody has to upgrade because this is old technology. This phone is a failure. I have to get rid of it. Francine the question i have been asked the most is, do we have 5g here, and people just dont know yet. Lets get to the bloomberg first word news with leighann gerrans. Leighann prospect of another stim list package before election day look bleak. President donald trump and Senate Republicans are at odds. The president is urging them to go big or go home. Senate majority leader mitch admitting to aly vote on small businesses. Nancy pelosi says the latest offer is no
I think they injected some 14 billion of over the last 24 hours. Don of tom china without question are acting. I agree with you, oil is critical. Really pricing. I took saudi light in the now,nal price we are at 19. 79 1979 is are you go back to to get under 20 a barrel. I have said this last four or five days. The decline in the last in the u. S. To year yield screams lower for longer. Francine we will have a look at that, quite extensively. We will also talk about emerging markets. Lets get to first word news in new york city with viviana hurtado. Viviana we begin with a report on the impact of the coronavirus on the oil market. Global demand for oil will plunge this year by a record 9 , according to the International Energy agency. The slump will thwart efforts by the opecplus coalition to contain the glut of crude. April will be the hardest hit month. Fuel use will shrink by almost a third. Now to president donald trump. He is temporarily halting payments to the World Health Organi
Do you want to go through the data . Tom yeah, let me go through the data. The news is in conversations. Limit 12. 55 with a massive curve flattening, oil down at the bottom, speaking volumes. Next screen, please. The vix is a good litmus paper, not moving here with futures down, 40. 94. I am not sure what the implied 5. 0is, but im guessing will be a good place to start. That is the yen. What is absolutely telling, there is persistent yen strength through the japanese day and the london morning. The 30year bond. Third screen and i know francine has a more europecentered view. This is the chairman powell screen. What will they do before the market opens . This is what they are looking at. The twoyear yields from the u. S. , u. K. That is stunning on the United Kingdom, maybe near a negative yield in japan and down to germany as well. Francine . Francine first of all, we did have the iaea headlines crossing the terminal moments ago, oil demand dropping for the First Time Since 2009, whi
We have been covering the economy, bringing you live coverage from beijing. In the meantime, this is what is happening in europe. Euro area november services pmi falling to 51. 5. Anything above 50 is expansionary but below forecasts. Again, this is for yourarea manufacturing for the month of november. Quite a lot going on in the markets. It is all about the ecb speech and Christine Lagarde. How she means new policies will be taking place. Stocks overall on the up. We had a similar rally when it came to asia. Pointing towards a marginally strong open in the u. S. As investors try to figure out headlines on the trade dispute. Say, a lot of the talk in beijing was on that. The dollar is mostly steady. Lets get first word news in newark city. New york city. I fear this was all going to blow up. Those were the exact words spoken by fiona hill in the impeachment hearings, that is what she told fellow diplomats but that she now understands why he was not involved in security or Foreign Polic
We are seeing quite a lot of stocks rise on the back of hope that the tax plan will move through. We do need to break it down and look at sectors. The stoxx 600 gaining 3. 3 . The eurodollar, we are looking at that because the tax plan c ould affect the dollar. We are expecting a vote. We heard from the president earlier on, saying he has people he could call on two major the tax plan goes through. Could call on to make sure the tax plan goes through. We talk brexit and the outlook for 2018 with Vincent Chaigneau. In the next hour, we break down withs. S. Tax overhaul the Global Economic strategist from blackrock. And later on, we speak with pierre moscovici. We have many questions for him, including the tax plan. Here is sebastian salek. Reporter u. S. Lawmakers are scrambling to lock up support for the tax bill. This would provide a multimillion dollar windfall for the real estate investors. Tax experts say the change, which would allow real estate businesses to take advantage of a n