In the u. K. , Prime Minister Boris Johnson defends his handling of the crisis. Phillips is set to produce 15,000 ventilators per week to ease shortages. This phillips number coming through. In terms of what we are looking at, 4. 2 billion euros. Estimate 4. 16. A little bit off a beat. Phillips said it wont provide 2020. Pecific guidance one of the questions, whether they would suspend that guidance for the rest of the year. They could not really quantify the impact or duration. Manus they had gone for a comparable target this year of 46 . They are aiming for cfg. Rise in 2020. In First Quarter comparable sales, what they are doing in terms of the respirator business, then there is the rest of the world to think about. Comparable sales are up nearly 23 . Billion,arly 44 significantly below the estimate of 289. At 6 30, he will join us for that conversation. Lets set the agenda. It is about oil, about the banner headline, crippled by 20 at the nearly open. If you want to understand dem
Here are your top headlines. Blame game. President trump raised the prospect that china deliberately caused the coronavirus outbreak. This as the u. S. Pauses some tariffs for 90 days but not those on chinese steel or aluminum. Crude collapse. Wti sags to its lowest level in the 21stcentury on concerns that Storage Space is running low. The demand outlook remains gloomy. Signs of easing. Germany begins to reopen its economy as spain, france, and the u. K. Report the fewest coronavirus fatalities in weeks. Just under one hour away from the start of cash trading. Lets take a look at where futures are headed in europe. Futures are higher, whereas u. S. Futures are down. You can see the ftse 100 futures up more than 1 , as are the dax futures. S p, dow jones, and nasdaq futures, red arrows. Further away from the start of trade on wall street. It looks like we will kick off the week in europe higher. That divide between europe and u. S. Futures is interesting. We will watch that as we go th
What exactly comes next for the coronavirus, how governments will deal with it and if there are any faults. Lets check on your markets. Today, we have a market that seems focused on the number of affected and deaths falling. That is the good news. Many deaths, but it has fallen from three or four days ago. Equity futures are down. European stocks are holding gains. They fluctuated quite a lot. It is a big week for corporate earnings. They are trying to a tentative signs that the infection rates are decelerating. Treasuries, pretty much unchanged. Plunging below 15 a barrel to the lowest level in 21 years. Lets get to the bloomberg first word news in new york city with viviana hurtado. Viviana we begin this new is a news morning in the u. S. , the nation temporarily postponing head of client Investment Strategy tariff payments to free up cash for businesses hit by the pandemic. It is limited in spoke scope so it will be on steel or aluminum or enforcement actions, including taken a big
The white house and the house of representatives seem to be in negotiation with the senate, a Republican Senate really stepping aside, and mr. Kudlow moving that forward. The oil story is absolutely remarkable, and perch yearly the confusion of the end of may futures, and over into the june futures as well. We are about ready on the spot market to get a 13 handle on west texas intermediate. Francine you are right, because of the change in futures contract, we could see heightened volatility in the next couple of days, starting from today. Lets get to first word news in new york city with viviana hurtado. Viviana the white house and Democratic Leaders are close to agreeing on the next coronavirus eight. This measure would be up to 500 this next coronavirus aid bill. Formeasure would be hospitals and testing. Trying to free up cash for businesses, it will allow importers and manufacturers to delay payment for 90 days, this on many overseas products. But the move does not stop ongoing pun
The various heroic people working at mount sinai hospital, i am tom keene, Francine Lacqua in london. Cavendish,d to baron it is an interesting mix in the United Kingdom of the politics of the government and the fairly grim pandemic statistics. Seenine we also havent from Boris Johnson and a while, so the daily briefings are led by various cabinet ministers, and yesterday we had the further three weeks of lockdown expansion extended. As baroness cavendish was saying, maybe we need more testing. What the markets are looking at, they are looking through the number of cases that are slowly increasing in europe and still increasing in the u. S. , they are looking through the deaths and infected cases, and chinese gdp was horrific, the first contraction in a decade, and they are focusing on the positive. We could have a drug that is working, from gilead, and President Trump has given a timeline and thought on how the economy could reopen. Tom i really want to emphasize, every politician in