Welcome to bloomberg surveillance. I am Francine Lacqua. A lot going on in your markets. Happy monday. Asian stocks are advancing with the u. S. Index futures following a mixed section in asia. Investors move across growth to relax restrictions for coronavirus. I am looking at the dollar drifting higher against most of its major peers. Lets get to bloomberg first word news. In the u. S. Vice president pence is selfisolating after his press secretary tested positive for the coronavirus. He has tested negative everything a day. He has not been in quarantine. He plans to be back in the white house today. Threatening to sue in germany over the countrys constitutional court. Eu final word on ing eu law has infringement proceedings against germany are possible. Speak to the lawmaker later this morning. Saudi arabia has announced austerity measures. It is cutting allowances for government workers. The savings are valued at 27 billion. The coronavirus pandemic continues to hit oil demand. The
And gentlemen, the president of the United States, accompanied by governor lee of tennessee. Mr. Trump thank you very much. Please. This afternoon, i will sign a proclamation declaring the month of may to be Older Americans month. I dont know if i am in that category. I have a feeling im. But i feel good. And our country is making a lot of progress, not like some will tell you, they are making a lot of progress. Are here to discuss the unprecedented steps we are taking to protect seniors from the virus. I will also announce vital new actions to safeguard Nursing Homes and most vulnerable citizens as we gradually seek to reopen our country. To see whatxciting is happening. , roberty alex azar wilkie, great job. ,ema administrator pete gaynor and chief of the National Guard thanks also to tennessee governor bill lee, my friend. Thank you very much, bill, great job youre doing. Great being with you. We tragically have seen, the virus poses the greatest risk to Older Americans. Weether, as
Pres. Trump thank you very much. Please. This afternoon, i will sign a proclamation declaring the month of may to be Older Americans month. I dont know if i am in that category. I have a feeling im. I have a feeling i am. But i feel good. And our country is making a lot of progress. Making a lot of progress. As we honor the contributions of our nations seniors, we are here to discuss the unprecedented steps we are taking to protect seniors from the virus. I will also announce vital new actions to safeguard Nursing Homes and most vulnerable citizens as we gradually seek to reopen our country. It is very exciting to see what s happening. Secretary alex azar, robert wilkie, great job. Verna, ator seema fema administrator pete gaynor, and chief of the National Guard joseph lingo, thanks also to tennessee governor bill lee, my friend. Thank you very much, bill, great job youre doing. Great being with you. And ma outstanding advocates for americas seniors who are here with us today, thank yo
Emergency meeting. A Chinese Pharma Company wins approval for human testing of a vaccine. Governments around the world starting restrictions to slow the outbreak. The virus threatens to weaken chinas economy even further. Our review of the latest for the slowest and the end of the cultural revolution in 1975. Shery lets get you started with a quick check of the markets close. It was another down day. The rebound we saw in the previous session, we are talking about the s p 500 and dow and nasdaq all going down the s p 500, every sector was in the red. Energy was the biggest decliner. Oil sinking to a 19 year low. When it comes to the dow, losses of about 36 since the peak in february. We continue our way down. Weve heard about a second stimulus package coming from the trump administration. This was after the close ended during the trading session. We saw volatility Circuit Breakers also being. Possibly another down day. Asian stocks and futures trying to climb. We have taiwan, philippin
To back the bell and set to publish their own support program. Force johnson orders the u. K. Into a three weeks lockdown, sweeping new laws to breakup gatherings and fine any dissenters. Taylor meantime, i want to bring you some breaking news coming out of china. Their companies are having the worst quarter on record, according to china. The headline as it catches my eye, the economy has not gotten better as much as we thought they would be returning to work. It looks for the first three months of this year, a Quarterly Survey of all the firms, it looks like every individual sector was reporting worse results than originally thought. Saleswas a widespread in amid the harder hit retail sectors. The collapse in revenue and profit. Again, Economic Activity collapsed in february. This is as we knew that there was the massive virus spread that was going on. I think the key headline is Chinese Companies continuing to have the worst quarter on record. Every individual sector reporting worst