A deep dive on the president s forecast and what lies in store for the Global Economy plus as the week draws to a close we take a swing around the globe to break down the performance of International Markets and later a few sectors have been a few sectors have been spared and the Auto Industry is no exception we bring in expert analysis to break down how the industry has landed on the brakes with a packed show today so lets go and dive right in. And we leave the program with u. S. President donald trump laying out a roadmap to reopening the economy. Our approach outlines 3 phases in restoring Economic Life we are not opening all at once but one careful step at a time and some states will be able to open up sooner than others some states. Are not in the kind of trouble that others are in healthy americans will now be able to return to work as conditions on the ground. Instead of a blanket shutdown we will pursue a focus on sheltering the highest risk individuals so important where stabl
And oil is up to the tune of 25 . The jobless claims rocked the street. We were expecting them to be bad. We were not expecting them to be 6. 6 million bad. Jackie deangelis, jackie. Reporter good afternoon to you, neil. Lets go ahead to start with the tweet from the president that had the dow jones up more than 300 points now. The president said, i spoke to my friend, mbs, crown prince of saudi arabia who spoke with president putin of russia and i expect and hope they will be cutting back approximately 10 Million Barrels and maybe substantially more, which if it happens will be great for the oil and gas industry. The markets are rallying on this, because low oil prices are good for consumers and businesses that use oil. Statement, you dont want the price to be so low that the shale producers go out of business. That the Oil Producers have a hard time, staying, conducting, keeping things going. So prices spiking today, more than 20 is a positive sign that it is all moving in the right
Biggest gain ever when it comes to wti in terms of percentage. We are losing steam there. We are not seeing a whole lot of movement here today. The offshore is slightly weaker. It does not seem like theres a whole lot of patterns you can actually string together here now that we are excluding japan. Ending the week back to where we started. Tom weve had another downgrade, another cut to forecast growth. Malaysia cutting its 2020 gdp growth estimates to 2 . A contraction of 2 . They are cutting their estimate to 2 on the coronavirus pandemic. Morgan stanley have upgraded malaysian equities. We will speak to Jonathan Gardner later in the show. We can has kim about the applications of that. Another grant outlook for malaysia. Worldwide cases of the coronavirus have reached more than one million infections and counting. Our chief north asia correspondent joins us on the line from hong kong. This is indeed a bleak milestone. Stephen thats right. Total673 is the latest were getting from the
Watching for wild swings right here 10 year yields 0. 7 and thats pretty stable compared to where we were two days ago i checked that, whats the problem with the markets but theres a lot going on breaking overnight, this should have been somewhat helpful you would think. Bank of england announced emergency cut. Lowering the bank rate by 50 basis points to. 25 englands central bank also announced a new funding plan to support small and Medium Sized Companies as well as new steps to help commercial banks lend more well get a live report from london in just a couple of moments. Now an update onthe coronavirus. In the u. S. , confirmed cases have now topped 1,000. Want to get to meg now who joins us with the latest meg. Good morning, andrew, case counts drived to 119,000 overnight with almost 4,300 deaths among the hardest hit countries, italy, iran, and south korea and they tell dramatically different stories. Italy reported highest daily jump in deaths yesterday to more than 600 of more
Manus a warm welcome to bloomberg daybreak europe. The world is trying to reprice risk. The sentiment over the past three days has been clearly about either we are fools to reprice to the downside in the oil market or it is an opportunity, a resplendent opportunity, to reprice risk. Amri is chasing the Saudi Oil Minister as we speak. Spoke to a representative from the iea and their comments were interesting in terms of the downward pressure on the oil market. President trump said the world is watching. We are watching that geopolitics but as we wake up this monday morning, there is a little bit of risk coming back on the table. Thes more from one of Energy Delegates from the u. S. Later on. We are busting a few moves. The yuan strengthening. We can debate that with our guest. We busted through the 6. 9 levels. Goldman says you have gone through the trough in growth. You will see a stronger performance met year. We lean into yuan strength. This is about recalibrating risk. Oil had a cra