The bloomberg terminal. A grim milestone. One Million People have now tested positive for the coronavirus with more than 50,000 deaths worldwide. The Asian Development bank estimates the cost of the pandemic at 4. 1 trillion. We will get through this, you was Vice President mike pence tells bloomberg that the economy will rebound from mounting unemployment as the government ramps up virus testing. We are testing over 100,000 americans a day. We literally are tracking every single day the number of cases that are coming out, where they are coming out. Pullback, oil markets reassess President Trumps tweet on output cuts with brent and of uti giving up some of yesterdays gains. We will double big into that story. Just under an hour away from the start of cash equity trading here in europe. Lets take a look at futures right now. They are down in terms of european futures. Downed arrows with futures 6 10 of 1 . Euro stoxx, ftse, dax futures also down. Lets take a look at u. S. Futures. We a
Now. Against the possibility this will cause a growth slowdown in the u. S. Nejra division in vienna. Disagreement over cuts. Delegates look to counter the impact of the coronavirus. We are live on the ground at a crucial meeting. Welcome to bloomberg daybreak europe. Lets kick it off with opec ministers in vienna. The first meeting saw saudi arabia and russia split over the prospect of deeper cuts as the coronavirus weakened daily demand. Manus, great to see you. Can they come to an agreement . Nus my next guest says it is kabuki theater. Its painted faces. Its about shock and. Shock and awe. Where will they meet, which road will they travel . Will it be one million of cuts . Three months ago, i was here and they agreed a 2 million barrel a day cut. So what does it take to put a floor under this market . Highness left last night, promising a wonderful recommendation and he wanted to keep us in suspense. They can take us out of the building because of the virus, but they cant stop us f
200 people around. And stocks open higher as u. S. Futures point to the green with the weaker than expected jobs reports boosts bets that the fed could cut Interest Rates soon. Atos shares receive restructuring offers. It will decide among the three offers. And xi jinping touches down in paris on the first leg of his European Tour with Emmanuel Macron set to get support for ukraine. Welcome to street signs. We open with breaking news on eurozone pmi. It was coming in at 51. 7. The flash read at 51. 4. We get the services pmi coming in at 53. 3. That was another upside surprise. The flash of 52. 9. It shows expansion in both areas with the eurozone. This follows the surprise when it comes to french pmi. Swinging from the forecast of 49. 9 which is in contraction and moving into expansion at 50. 5. Getting Italian Services pmi. Three surprises with pmi. Eurozone pmi surprising to the upside with composite and services. Moving on to the big story over the weekend. Warren buffett has used
He meets Prime Minister shinzo abe on the first leg of his asian tour im committed to achieving a fair, free, and reciprocal trading relationship. Two deals slide after sprint and tmobile call off their mobile talks good morning, everyone its monday and weve got some Macro Economic data in the form of the eurozone. Pmi for the month of october and it came in at 55 it was forecast at 54. 9. Just a tad higher than expected. Definitely a little bit of a slowdown compared to what we saw in september when we saw 55. 8. When it came to the german numbers we saw new orders, the fastest rate in 20 months. Really painting a picture of a solid start to the fourth quarter. The Italian Services growth number, that was the lowest in the year doesnt seem to have a huge reaction 116. 10 unchanged on the day. Lets show you whats happening in terms of the equity markets roughly one hour into the trading session and we are just modestly lower to the tune of 0. 1 we are still in the thick of the earnings
Sale. Toyota beats Second Quarter estimates in the u. S. The hour is in and the truce in gaza continues to hold as israel removes its troops from the strip. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Welcome to worldwide exchange. Were expecting the composite services pmi out of the eurozone this morning. Weve had the individual ones. Its coming at 54. 2. It was forecast at 54. 4, so its a touch weaker than specd. It does fall on the Italian Services pmi. That is from 52. 9 back in june. Theyre pretty much in line as expected. 50. 4 in the last ten minutes or so. Arrived from last months 54. 2. 56. 7 versus 56. 4 in june. Were around 20 points lower, not much of a reaction, but a touch weaker on that. Lets give you a look at what else is on todays show. India says it has to bring down inflation, but the question is how. Were live in mumbai to discuss how they do that. Plus we ask how companies are doing with the flux in prices. Also,