Front. Showing millions of jobs lost. Well see more with the jobless claim number and tomorrow with the number from the government dow looks to be up 260 s p up by 34 and nasdaq up by 118. We are getting competing views jobless numbers we know are bad. Then you see oil prices that tell you where things may be headed prices may be up again gain of 7. 3 this shows you maybe things are starting to pick up around the globe. Maybe that demand is coming back that may be something to hang your hat on. Andrew thank you we have a huge lineup of guests. Secretary of state mike pompeo will join us to discuss relations with china former ceo of Goldman Sachs about the outlook of the economy and the ceo of paypal and also talking to the ceo of hilton and aflac ceo will join us and our media guru from lion tree hard to think we are going to pack it all in in three tiny hours. That means no screwing around at all today is what i think go for it then. Three hours time for everything. With err going to
Coronavirus restrictions. The pboc pledges stronger monetary policy. Saudi arabia confronts its own predicament with slashing of spending and tripling vats. The European Commission threatens to sue germany. Sident ursula von warm welcome to the show. The agenda has been set. More stimulus from china and japan. Negative Interest Rate policy is exploding across the u. S. To the market, april fed funds futures for 2021 skirmishing with a negative. According to jpmorgan, you should. There is a big bet negative rates could go to 45 bips in 2021. The dollar, what are the consequences of nirp. Therestrate policy on dollar would be the dollar living on borrowed time according to standard chartered. Dissipating. Ial is we are rolling over. Dollaryen, more news of more stimulus from china and from abe japan could do more helicopter money if needed. The dollar rises, the yen falls. Have a look at the rest of markets. What is the biggest risk of the morning . Asian stocks rise on the stimulus disc
Halston, 12. 5 . San miguel withdrew its tender officer for the company as the timeline ran out. Ayala down. 31 . The overall composite half a percent higher. Lets move things along and get to new york and look at some of the first word news. Global Coronavirus Infections continue to rise and now top 4 million with jess at about 280,000. The u. S. Has by far the most cases and fatalities with 1. 3 Million People infected and almost 79,000 having died. The virus was first reported in china and beijing has confirmed about 83,000 cases with just over 4600 fatalities. Saudi arabia says it is planning to cut spending and triple vat to 15 as it looks to offset the impact of the virus. The finance minister says the pandemic combined with Falling Oil Prices has cut revenue input and president and pressure on the public purse. The kingdom reported its biggest surge of new cases sunday, rising to almost 39,000 confirmed infections. To apply more powerful stimulus. The pboc were released a quarte
All of that leading to a stronger dollar and weaker commodities like oil. Under armour out with earnings as well. Lets get right to it. Their adjusted loss coming in 0. 34 a share, almost double what we had been expected. Net revenue for the First Quarter coming in at 930 million. That also came in light. They see a significant decline in revenue since midmarch, so no surprise there. Marriott coming out with their numbers as well. As you can tell, it is going to be bad. Marriott international looks at first court or revenue coming in of 4. 68 billion, a decline 6. 6 year on year. A really ugly number. They say they had liquidity about 4. 3 billion as of may 8, so obviously sustainability and solvency these kind of companies , especially hospitality, as well as airlines, really front and center. All of this really winds up depending on when the world can reopen. Lets get to all of our market movie news from new york. In london, u. K. Promised her Boris Johnson announced the first carefu
Petroleum output by nearly. 1. And the imf and the world bank prepare to meet amid the worst downturn since the 1930s. The new reality of economies, collapsing train and mounting unemployment. Shery lets get you started with the markets. U. S. Futures are higher after u. S. Stocks posted the biggest weekly gains since 1974. Nikkei futures higher half a percent as we had a closeout a twoweek high. Take a look at crude. We have the historic opecplus decision, finalizing record cuts of 9. 7 Million Barrels per day, the single largest in history. Wti is gaining ground. Mexico alsoafter joined the conversation and agreed to cut 100,000 barrels per day. We will have more coming up. That is right. After several days of the virtual talks, global diplomacy finally ended in a Historic Deal to cut oil output by nearly. 1 . Destroyed oil prices. President. Great to have you. Can we breathe a sigh of relief . The cuts that have been announced, if there is adherence to those, and we have additional