With the hopes of going ahead. The Federal Reserve move made a turnaround. That led to selloff yesterday. Dow industrials down 582 points, nasdaq down 18 and s p lower by 67. Reports that u. S. Airlines are looking into voluntary shut down of passenger flights across the country this morning. We will take about it. Ceo of boeing David Calhoun joined me later this morning on asking for bailout, suspending dividend and foregoing his own pay and shuts down. Im going to have a report for you jpmorgan says theres a trillion dollars wait to go flow waiting to flow into stocks. President Boris Johnson putting people in lockdown and banning meetings of more than 2 people. Take a look at asian markets here. South korea doubling coronavirus package. Kospi index off 8 and a half percent overnight. More bad news on the chinese economy to report. Latest survey from china warning economy could shrink to 10 to 11 . Thats just the First Quarter for china. Take a look at 10year treasury rise and settin
Sharp selloff by friday. Look at the week that was with dow industrials down 4,000 points on the session. Thats 17 on the week. The nasdaq was down 995 points, 12 and a half percent lower and s p down 406 points, 15 lower on the week. President trump deploying the National Guard to new york, california and Washington State to fight what he calls the invisible enemy as more people are told they must stay home in the heavilyhit states. More companies stepping in the fight the war against coronavirus, meanwhile, they are working with the white house to manufacture mustneeded supplies and medical equipment. Plus more businesses forced to shut down as tighter rules go into place. St. Louis Federal Reserve president warning that Unemployment Rate could soar to 30 . Mornings with maria is live right now. Maria lets check Global Markets with ftse 100 in london 236 points, european indices red across the board. Cac quarante down 150 points and dax index down 243 down. In germany Angela Merkel i
Petro currencies not doing so well. Guy . N europe, lets look yeah, at what is happening in europe youat least the dollar is down. Dollar is not continuing to rocket fire as it has been the last few days. We are waiting, as you say, to find out what is happening on capitol hill. We think of what will happen around noon eastern. The vote will happen around in eastern. To session highs before fading again. We have a bit on the euro today, that is good news to the pound has been pummeled. Germany out with a big stimulus package earlier on today. It is going to be issuing more debt. That is the reaction in the bond market. We got a bid on the german bund today, which is good news. Equities and bonds are moving in different directions. They are acting as a bit of a counterweight to each other, which wasnt happening at some point last week. That is the good takeaway today. Vonnie exactly. Purchase of agency, Mortgage Backed securities, it is a new vehicle for this to happen from the Federal
Eamon, its jon fortt by my account its been about a week since the last gasp of real partisan that i saw when mcconnell and mccarthy were talking about the house bill calling it an ideological wish list and what not. I think the lawmakers pretty quickly started getting on the same page and getting too a different posture, but from where you sit at this point, is it clear where there might be any types of divides around what types of measures congress is willing to take . I know that payroll tax cut was on the table for a bit and then off the table, but beyond that, are there areas where democrats and republicans clearly differ at this point . You know, its unclear right now. You saw Chuck Schumer out earlier today and yesterday saying that what democrats want is a real focus on the workers, if theres going to be bailouts we want to make sure the focus here is on labor and the workers, the people who might get hurt and not just bailouts that would benefit executives. I think theres a sp
Attempt to quell protests, she said the controversial extradition bill that sparked the demonstrations is, quote, dead lam said there is no plan to restart the legislation and earlier work to amend the bill has been a failure lam suspended the bill but protests continued with calls for it to be withdrawn completely lam did not say that she is officially withdrawing the bill. She said the bill is in the coffin, the bill is dead and no one needs to worry that there will be any tactics to resume the bill in the lenggislative council term Richard Bransons Space Tourism company now planning to go public. That is according to a wall street journal report it will list shares as part of the deal with social capital company, spac. Weve talked about it in the past it was created by a friend of squawk box, spac will invest 800 million in Virgin Galactic, it will get a 49 stake. The stock market listing is expected to take place later this year. Virgin galactic so far sold 600 tickets to space at