House passes and aid package and some corporate bailouts may come at the price of corporate equity stakes. And gilead shares crash as reports suggest its potential covid19 drug flopped in trial. Good morning, everybody. Program. O the we see a sluggish pace reflected in european futures. Much weaker. Features down, plenty of reasons to be gloomy if youre looking for them in terms of u. S. Jobs data, eurozone pmi data. We saw that certainly have an impact. Lets have a look at u. S. Futures. We do see some negativity and u. S. Futures in u. S. Futures. But not to the same extent. As we continue to watch the earnings stories coming in, lets get a bloomberg first word news update for you. The u. S. House overwhelmingly passed a nearly 500 billion. Oronavirus aid plan the white house says President Trump will sign the legislation today New Washington time. Treasury secretary Steven Mnuchin once equity stake in exchange for a share of 17 billion in aid. He says Public Companies critical to N
At when it came to adding subscribers but terrible in terms of revenue this quarter, down about 25 . A dismal day in the euro zone. These are the kind of numbers that should frighten markets. I think the ecb is doing the damage in europe, disappointing some people. The stoxx 600 is near session lows. We will get to that and i moment. Banks are down 3. 5 and maybe a little bit more. The eurodollar is down. Month, u. S. D of the stocks have had an absolutely cracking month. In europe,by 13 and nothing like that except for the dax which is up by around 10 . To the auto sector has come back. Vonnie lets get to where first guest because we want to go through some of the reasons why asset prices are at these levels. We had more out of the ecb earlier and we are joined by michael mckee. Michael, is the central bank keeping asset prices at this level the reason why we are bouncing so hard in the s p 500 . Michael its hard to tell. Many people are saying that. Newfed Just Announced a Loan Facil
We speak with the c. E. O. Imminently. After that Deutsche Banks c. E. O. Joins us. No moves expected from the fed but markets will want clarity on the pace of asset purchases. Before then, First Quarter u. S. G. D. P. Will show the initial virus damage. Magnus they will. Or not. Eantime damage Deutsche Bank, lets get to the eadline. Weve seen this reflected across the spectrum over credit suisse. Good volatility. The americans also doing quite nicelyful. But when it comes to credit loss provisions for this year, youre looking at 35 to 45 basis points of loans. In basis point term , the outflows on management side of 2 billion. Two billion ewe roes, excuse me. A triumphnt 1. 5rk the market accounts for 1. 69. This has been the lead number there is a live on the blg there. The credit loss vision 25 to 75 points. Nejra dont miss our interview. 7 00 a. M. You see futures leading after alphabet results. We could see yields slightly higher. Dollar extend losses an even with oil, yesterday,
Operational. And the real deal. As concerns spread over how the coronavirus will affect the nations real estate market, well get a reality check and see how Virtual Reality is helping open houses like never before. First, we begin this morning with a look at todays eye opener, your world in 90 seconds. Let none of us ever think of those we have lost as mere numbers on a graph. They were real lives. Reporter coronavirus deaths topped 51,000 in the u. S. Still in some parts of the country governments are reopening businesses and loosening social distancing. You have to do both. You have to be able to fight the virus, and we have to open up the economy. Reporter the president signed an extension of the relief bill giving 484 billion to Small Businesses and hospitals. Reporter President Trump walking back comments that he made regarding inintersections to treat coronavirus. I was sayingus oo rep likyou. Reporteresident trump i feel lg king any questions. Reporters were there. Thats their j
We want to wish them the best, we like to see flattening of a curve in italy, madrid, new york theres the earnings world the earnings world doesnt bend. The earnings world responds. There are a lot of companies doing poorly, sometimes their stocks have reflected that sometimes their stocks havent i warn people that if youre going to do buy or sell stocks based on what the president says or what Governor Cuomo says, youre not being thoughtful it takes a thoughtful person to figure out whether you want a lot of exposure here or not. Does that mean if we did see more signs today some people theorize maybe theres a weekend bias to the counts if we got some affirmation over the next couple of days, what would it take for you to change that view . To say the market is looking through the Health Numbers i think we need to see testing, testing, testing. I would like to see the beginning abbott labs shipped its tests on thursday. I would like to see empirical evidence that people have antibodie