France and germany and others remove travel receptions spur tourismu. To and britains nonessential shops opened today as well. Stocks fall on fears of a wave of rhinovirus infection. Over 20 u. S. States see a pickup. Tokyo sees the most cases in over five weeks. Beijing reports another outbreak. Plus, bloomberg learns of an internal plot at nissan to take months beforeown his arrest in japan. The information comes to light and is due to face a trial in tokyo. Just under one hour away from the start of cash equity trading. Lets take a look at how far down futures have fallen, right now looking at 2. 5 drop on the stoxx 50. The benchmark index. Futures down a little bit more than that. Teachersok at u. S. As well. S p 500 emini contracts approaching 3 losses. Nasdaq futures off. What does the gmm look like . Anna ill get to the gmm in just a moment. Pricel giant revising its assumptions and expecting to take a charge in the second quarter. They see a noncash impairment and the write off
Space. Oil getting a bit of a reprieve. The concern is you have even more oil flow if the opec deal comes to an end. We want to get you todays market moving news from new york as well as washington. We want to start with the latest pmi data. Factories around the world suffering one of their grimmest months on record in march. Fbloombergs Michael Mckee joins me for more. Theres a lot to dig into. Give me some of your takeaways here. Michael mr. Rogers word of the day is contraction. Across the developed world, they are pretty bleak at this point. Some of them not as bad as thought because of a quirk in the data, but lets go through the data right now. Anybodye hardest hit of i the virus, and now the hardest hit in terms of the pmi number. Eurozoneance, germany, u. K. Are also in the 40s, which marks contraction. New orders of production crashed, but there is a quirk in the data where supplier delivery times are linked. However, in this case, there are no supplies to deliver, so it makes
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
Catalysts for investors on the horizon. With fed meetings this week and new tariffs set to go into effect this weekend. Joining us, ian winemore weve been paying close attention to these big trade headlines. How much is this influencing what were seeing on wall street these days i think its overstated as to how much its actually influencing wall street. I think theres two things at this point the first is that theres so much liquidity being pumped into the marketplace by central banks. They Just Announced another round of qe, even though theyre not calling it that. And youve got positioning, which is a very big deal a lot of hedge funds and active managers are lagging again some for the last ten years, and because of that, they cant afford to miss a rally you see this synthetic short base, where people are long cash, and thats why selloffs like today, youre not seeing a whole lot of followthrough, because need to hold until the end of the year. Ian is with us for the next hour we have
Im also looking at the treasury yields. You can see that 10year at 2. 77. Things are stabilizing somewhat. Gold had a big move it yesterday as a hedge against all the volatility. Old is still up. We will hit the latest market moves. Oil. Also talk crude on, weittle bit later will be joined by blackrock. I want his take on investing in the markets. Lets get straight to the first reviews. The u. S. House of representatives had passed a stopgap spending bill to fund the government until march 23. A senate vote would send it back to the house before thursdays deadline. President trump said he would welcome a shutdown if democrats refuse his demand for a immigration overhaul. President trump if we dont get rid of these loopholes, people continue to come into our country and kill. That are many gang members we do not mention. If we dont change it, we will do a shutdown. It is it it is worth it for our country. I would love to see a shutdown if we dont get this taken care of. Nejra donald tru