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
Highlight the countrys shocking right. Tonight. Well we begin with the sound off on Global Stock Markets prompted by fears about the coronavirus and made worse by a row between saudi arabia and russia. Which sent oil prices down 20 in london the fifty one hundred almost 9 its biggest one day drop in twelve years. In new york trading was briefly suspended and when it resumes the major indices fell six points weston pony has more. Dozens oforried phone calls at this parisian trading room the french Capital Stock exchange plummeted more than 8 on monday. The latest dp in a two week decline. Okay around the world stock markets have also been in freefall trading rules of the new york Stock Exchange triggered a fifteen minute trading suspension after the dow jones and s. And p. Five hundred. Open down than seven percent. The reason behind this market crash it did this combinaon for the Global Economy. On the one hand and bill price war between russia and saudi arabia which sent the price of
And thats when the Trading Halted it slowed some of the panic selling, the machine selling and at the end of the day, still down more than that for the dow futures for the dow a decline of more than 2,000 points. Youre looking at a big bounceback but only half of the declines from yesterday. Up by 1100 . It found some support and then it was down 5 and then it closed about where it was indicated to open. Right. But we kept saying what if the garden variety correction is 12 we got a pandemic whats a decent where do we got an additional 18 or 19 yesterday. Well, in total. Down down 18 or 19. Yeah. If it goes from here up 1,000 today youll once again be the call of the bottom you will be ill take it. I hope im the call of the bottom. I hope you are too. But its just consensus. Just the feeling that everyone has at the same time that you express. Thats all it is thats many times that is the indicator. Do you think do you think we have more to go . Well, i understand the focus on the equity
They beat burnley 4 1 in the premier league last night to close the gap on leaders liverpool to eight points. And well try to solve the mystery of the secret santa delighting residents of a leicestershire village by leaving presents in random locations. And no surprises weather wise today, rain back at times, drier for england and wales, ill have the full details coming up. Its wednesday the fourth of december. Our top story the Prime Minister borisjohnson will urge the leaders of the 29 nato states to show a one for all and all for one unity as they begin a summit in hertfordshire today. The meeting marks natos 70th anniversary, but it comes amid tensions about the future of the alliance. Our Diplomatic Correspondent James Landale reports. Not every military alliance gets to celebrate its 70th birthday with the queen at Buckingham Palace, but nato leaders past and present have been keeping her realm safe since just before she ascended the throne. Behind last nights smiles, though, the
These are your markets with a little bit of uncertainty because of a drone attack in saudi arabia over the weekend. Trying to figure out the implications for the middle east and geopolitical tensions. This is what we are seeing in european stocks. Crude oil off the highs we saw the last couple of days where it surged from 17. Press conference from Boris Johnson yesterday, a little bit of weakness when it comes to pound. Watch out for the Supreme Court hearing. We are expecting it couple of days but it starts today on the thingsy of some of the parliament but also the government are trying to do with brexit. Economic nobelhe prize winner coming up at 11 a. M. London time. Lets get the first word news. Vivina in the u. K. Is where we begin. The Supreme Court starts hearing the case against Prime Minister Boris Johnsons suspension of parliament. At the center of the debate is if the decision is a matter for the court. The court may not rule until next week. President trump says the u. S.