Down up by 89 points. Nasdaq was down and s p in the red 1 and a half. Oil prices are down this morning, take a look at 16. 32. Treasury is considering a Lending Program for struggling Oil Companies. We have the story coming up. Treasury secretary Steven Mnuchin is asking for equity stake that take coronavirus aid as Big Companies give back money aimed for Small Business. Mornings with maria live right now. Maria Global Markets this morning are lower. Take a look at european indices across the board. Cac quarante down 36 and dax index lower by 94. Retail Sales Numbers out in the uk looking at the largest decline on record. Down 5. 1 in the uk. In ash overnight red across the board remdesivir failed chinese Clinical Trial. A lot of hope around the drug and it continues to be. Shanghai composite down better than 1 . The white house now saying that the coronavirus pandemic could be behind us by memorial day. Dr. Deborah birx pointing to downward cases week by week. If we continue to mitig
Road, maybe that is actually not the case. Rolling overs as well. Maybe that is oil. It could just be a sentiment feeling, as well as any sort of Political Risk because of kim jonguns health uncertainty. Lets get to todays market moving news from our team in new york, as well as washington. We want to begin with this meltdown in the oil market. Wti futures plunging below zero for the first time in history yesterday as many storage tanks reached capacity. Brent for delivery in june pushing to the lowest levels since 2002. Annmarie hordern has more. Annmarie what we are really watching today is the number of contracts for wti and brent. Yesterday, the big question was is this just a big technical anomaly. I think what you are seeing today is that this is more widespread. What is showing is what traders have been saying for quite some time. Thething i want to bring up point is the june contract, trading at 16. 69. That is a contract that is not expiring. In 18dropping the most years. You
555 dow points. Ahead on todays show, were going to dive into this plunge in oil prices, what it means for the u. S. Economy and jobs to the financial losses reverberating through the market right now plus we will speak with illinois governor j. B. Pritzker and former commerce secretary Penny Pritzker, his sister, about illinoiss battle against the coronavirus and the race for more protective gear and testing. Lets focus in on the big stories were watching with 58 minutes left of trading. Brian sul vab focusing on crude oil collapse, mike santoli will tie that in with broad movements were seeing today latest on the snag on government funding. Brian, first to you on this unprecedented move in oil. A day for the history books. It is a day for the history books. Ending a futures contract in negative 30 or what it was. Sara and wolf, it doesnt make sense as i talked about in power lunch as well. We started the day around 10. We continued to fall now negative 30 these are contracts. Negativ
That doubles blow after the collapse of the price of oil many of the country through the economic fallout of the pandemic could hurt more than the disease itself. Plus wheels of fortune we discover how life has changed for cyclists or berlin since the outbreak of the drug. Im serious i was going to class you could join us i know marco has urged the germans to show discipline in the face of the corona virus in a speech to parliament she criticized the lifting of some restrictions as to hasty and said the country might squander the gains its made so far of people become complacent about social distancing she also called for a bigger European Union budget to support recovery and the bloc. Across germany more people of venturing out. We have to the 16 german states agreed to relax certain restrictions on movement some shops are slowly reopening albeit with restrictions. Facemasks and now obligatory on public transport as well as in stores in some states but easing restrictions runs the ris
A hong kong flag oil tanker near the strait of hormuz they held the ship then eventually released it but oddly enough no one has claimed responsibility for it in fact we cant even seem to get clarity from our own military the u. S. Navy right now which is assigned to patrol the area is not commenting why is this so important because he who controls the flow of oil through the strait of hormuz which youre looking at right there. Essentially controls the majority of the world all supply. So heres the question was this sabotage a trial run an experiment to be carried out of a later time when the waterway is much busier not right now when nobodys really using oil in many parts of the world were on the story here on the news with rick sanchez because look this could be a precursor to something much more serious and because we believe its time to do news again. Ok here we go the list of the questions we think youll be asking tomorrow were armed hijackers trying to see how far they could get