Lots of earnings coming out. Ups is the latest. They are withdrawing their 2020 forecast for revenue, as well as eps, as we have seen from Many Companies trying to estimate the impact. Theirre withdrawing forecast. They are suspending the Share Buyback for 2020. We want to get you all of todays top moving news from new york and our london team. We want to begin with the volatility in the u. S. Oil market. Wti at one point falling below 11 a barrel. Bps ceo, after the Company Released firstquarter results which showed a 2 3 drop in profit. We have a situation where we have excess supply, and storage is filling up. Cushing is 70 full. People think we will reach completely full sometime in may. We are very fortunate to have a large trading organization, and they have been able to find a physical home for our crude, but not everyone is that fortunate. What is happening here is a very simple case of supply and demand, and the market really isnt going to find some stability until that comes
Hospitals during the pap. Ndemic. He talked about actions hes taking to temporarily suspend all immigration into the u. S. Due to the virus. President trump thank you very much, everyone. Big day today. I want to start by saying that our love and prayers to every american continue to be with our fellow citizens who lost a cherished friend or Family Member to the virus. We are making tremendous strides against this invisible enemy thanks to our Aggressive Campaign gets the virus and the talent of our medical professionals. Mortality rate remains half of that of many other countries and one of the lowest of any country in the world. And thats due to a lot of things but our medical professionals have been incredible. Since we announced our guidelines on opening up america as we call it, opening up america and i think we can add the word probably again, but thats what it is. We are opening up america. 40 of the u. S. Population have announced they are making plans and preparations to safel
Performance of all time. We are looking at limit up with dow futures and the etf slightly more than that looking at the treasury market the yields have been all over the place. Weve watched the 10year go from. 4 to 0. 85 . Andrew a huge lineup for you this morning, in about 30 minutes, new data from the china books about how ugly the hit to the First Quarter may be at 7 15, well talk to the ceo of lab corp about the ramp up for testing. At 7 30, well talk about the hit to our economy with Starwood Capital. Last time he was on, he was bullish in the face of the bears. And at 8 00 a. M. , the ceo of boeing, dave calhoun so many questions for him. At 8 30, joining a growing chore yus of voices. Global cases have topped 38,000 including 300,000 in the United States. New york city with the biggest hotspot. 13,000 confirmed cases in the city new york state accounts for half of the confirmed cases in the United States. China says the lockdown in wuhan will end on april 8. Cnbc is bringing you
Essentially to avoid nonessential travel and not to gather in groups of more than 10 until the end of april thats an update from the latest comment from President Trump where he seemed. Optimistic that things would be back to normal by april 12th so while the United States and its government is making official recommendations to its citizens in other parts of the World Governments are being more forceful in places like spain for example and italy where citizens are being told to remain in hibernation thats the word its being used by far the largest lockdown anywhere in the world is taking place in india india 1300000000 people being told to stay in their homes look at this video its gone viral it reflects just how seriously indian authorities are enforcing the curfew with Police Officers seen giving residents a not so gentle nudge with but tongs and sticks and other disciplinary actions as you see there by the way theres Something Else theres another crisis developing in india regardin
The news which is why im not going to give you those stories those tired stories im to give you the hidden stories and heres one of them this pandemic has been made worse and continues to be made worse by toxic nationalism which is hilarious considering the virus doesnt get by your borders it doesnt care if you put above or you speak a different language or youre an immigrant or you got circumcised in a ceremony where the shah minute chanting and buckets of mangoes and there were bagpipes playing virus doesnt give a 3rd are talking about how one country is better or worse or whatever right now during this pandemic its like youve all heard of angry rhinos was stampeding towards you and youre talking about how you have nicer shoes on than the guy next to you ride knows dont care or rhino is going to kill for you all when the court with the when the coronavirus was 1st being talked about or government and our media used it as a chance for anti china propaganda the New York Times put it th