Demand. Ng server taking a look at the csx 300, up three tens of 1 . China unicom out with numbers. It shrank in the First Quarter. Page, take ap the look at where oil is. From the uglylly selloff to below zero. Futures in new york rising. Climbing after falling to a 21 year yield. The old story is about Global Demand shock. About two unveil a supplement fiscal package after the economy suffered its worst contraction since the financial crisis in the First Quarter. Fiscal stimulus our next guest says for skill stimulus plans are ineffective. Turning us now is jim walker. Joining us now is jim walker. Good morning. You say it is about businesses. Jim exactly. Type ofa very different crisis from the ones we have seen under the past where recessions and even the asian crisis you could take as being a downturn in demand. This is really a government mandated cessation of business. While governments are forcing businesses to lucked out and people to stay at home, basically, it is incumbent o
Should we wait a while or do a partial reopening . Time tohink it is reopen your state economy and youre ready to go back out in public, we want to hear from you at 202 7488000. Toyou think it is too soon reopen your state economies, we want to hear from you as well. Your number is going to be 202 7488001. Keep in mind, you can always text us your opinion at 202 7488003, and we are always reading on social media, on twitter at cspanwj and facebook at facebook. Com cspan. Again, all eyes are on georgia right now as georgia has reopened from its coronavirus restrictions. At what the atlanta constitution journal is talking about after that first reopening. Climbsstates death toll to almost 900 on friday, georgians lined up for haircuts, manicures, at tattoos, and other services deemed nonessential. It was day one of georges attempt to restore economic normalcy in the wake of the coronavirus pandemic. But governor brian kemps ision to use restrictions in ease restrictions on many businesse
Better. Im tom kean in new york and joining me is taylor rigs this morning. I love the chart you put out on high yield this morning. What else do you see in the markets . Taylor what does it mean when the fed comes in and buys junk bonds, tom . Weve never seen it before, supporting the fallen angels. Massive rally in the high yield market not to mention a bit of the equity markets, coming off the best week since 1974. Some of that seems to be reversing this morning. Tom im really thrilled with the conversation were going to have with the vice chairman and we look for that at 6 30 this morning. Im particularly thrilled Michael Mckee will join me and there will be some interesting questions. Im taking a broader perspective and michael wants to drill down as he does at the press conferences to the minutia, the details, the mystery of all the alphabet soup that the fed has done as well. We continue our huge news flow this morning with our first word news in new york city with viffauno hurt
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
Good evening everyone. Im Francine Lacqua in london. Thoseof the focus on deaths and infection. It seems europe may be stabilizing, i spoke to a number ,f experts think its too soon if you look at the curve of the seems its getting worse and we are also hearing did may get worse before it gets better. This is what your markets are telling you. I know weve been talking about the dollar almost day in and day out. A lot of the focus is on whats going on. Lets have a at what equities are doing, gaining 2 . Gaining, u. S. Futures, dollar strengthening a touch. A debate over whether theres ground for a rally given the continued spread of the coronavirus but today they are focusing on betterthanexpected in the u. S. Treasuries also advancing. Lets get straight to the bloomberg first word news in new york city. We begin in italy. Be approaching a peak according to the World Health Organization. Numbersees the smallest of new cases in almost two weeks. The nation setting to extend its current c