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 the major f. A. N. G. Companies. They are set to release their numbers and guidance. Thank you for joining us im Brian Sullivan lets talk more about your market setup you have dow futures indicating a gain of about 100 plus points at the upside. 200, as a matter of fact, stock futures are well in the green despite the fact that oil has come down significantly. The price of oil down again right now. Remember, we are in that june contract it is off about 13 this morning, down to under 15 and change so, watch oil. There is a story in the oil patch to Pay Attention to as well that is Diamond Offshore Diamond Offshore, a major oildrilling contractor, obviously like the name immris, off the coast. An offshore company has, indeed, filed for chapter 11 bankruptcy protection the Company Simply not able to meet its obligations so Diamond Offshore has filed for bankruptcy protection. Keep an eye there on that story as well. Also you want to watch the stock of loews, ticker l, not the Home Imp
The charts are thrown haywire by the fact to close negative yesterday. Trading about 5 today june is at 12. July below 21. All sunk considerably just this week lets get more on the interplay of oil, stocks and the earnings. Gets get 0 ever to bob pisani for that this hour hi, bob. Well, you know, that collapse in oil is weighing on things but not quite as much as you might think. It is a little bit more of a general risk off day in terms of coronavirus. Lets show you what the sectors are doing right now. Sitting near the lows for the day essentially. S p 500 down between 70, 80 points throughout the day here senior citiz sectors, technology and financial stocks that are down, thats going to drag Everything Else down. Industrials not doing so well. Energy is down but not muches the rest of the over sectors and thats interesting to see there. Momentum stocks, stocks done well recently, theyre kind of weak today and advance micro has done great recently. Microsoft is getting killed today.
Discussing the dramatic situation facing the industry due to the coronavirus outbreak this week has seen shop declines in oil prices with prices even dropping into negative territory for the 1st time ever. Canadian Prime Minister Justin Trudeau has vowed to ban the sale of military style assault weapons after a shooting spree in nova scotia reignited calls for stricter gun control measures the death toll from sundays rampage has risen to 23. Reporters without borders feels governments are using the coronavirus pandemic to crackdown on the media the group has just published its annual press Freedom Index which rags countries according to how freely their media operates. Theres news from berlin you can follow us on twitter at news of visit our website d w dot com. The coronavirus pandemic has turned much of our world upside down including the oil markets this week for the 1st time ever the price for a barrel of crude fell below 0 when just like the lockdowns the Oil Price Collapse it too
So. Than in the 1st. Step towards justice for thousands of victims. Welcome to the program. Again warned that the fight. Is far from over and that the country. For the long haul has been addressing the bundestag thats the German Parliament. Extra as the country begins to slow. Concerned about the extent of interest frictions have been eased in some states. With the crisis. But you also have these words of caution for everyone living in germany new month with the go nobody likes to hear it but the truth is not in the final phase of the pandemic instead were still at the beginning we will have to live with this virus for a long time and the question of how we can prevent our Health System from being overwhelmed and consequently costing the lives of countless people this question will remain a central issue for politics in germany and europe for a long time to come. August you pretty. Good average of Political Editor. Is in the German Parliament this morning for. Merkel has also criticise