Skype today. You have a big day for the dow admittedly, were talking a lot about numbers in the last 15 minutes or so listening to Governor Cuomo go through troubling numbers in new york sta state. 37,000 total cases deaths up 100 in the past 24 hours. Lets keep everything into perspective as were talking about all this and thinking about the folk who is are hurting as a result of this virus. Tell me what youre thinking about today. Youre in the midst of a big day. Could be the best week for stocks since the 1930s yeah, my plan to take trades where i can get them super size core positions. On the show yesterday probably light exposure as the day went on when the market popped 5 yesterday, i found it troubling on top of the big move we had the day before i did take some exposure off late yesterday afternoon still, extremely well invested at this point where it was a week ago in terms of cash. Today were having another 5 day and im a little perplexed the vix is telling us, if its an accu
How these cuts will be disk it and how willing will russia be . Certainly some optimism today. Jakarta is coming online. A pretty steep fall off of stocks yesterday. We are rising. Ingapore is up the csi 300 is up. 3 . The dollar is looking pretty mixed across asia. The reaction from that meeting has been seen in the korean won. We are seeing that strength. Nine out of 17 economists respected the hole. Some were expecting for a cut. We are looking ahead to governor lees press conference. We will hear more clues about the trajectory of where rates go and whether they will embark on this qe theme that we have seen in many Central Banks. The dollar yen, we are seeing a little come off of the yen. Were advancing on the back of the oil prices in the euro, premuch flat. Lets stick to oil. Prices are rising again ahead of that opecplus. The worlds Top Producers may be moving closer to a deal on curbing output. Volatility remains a key theme. Wti has seen another 24 hours of wild springs with
Points. Brent really rolling over by about 5 , much worse than wti. It is now a pure demand issue. You see equities taking it on the chin, as well as commodities. Time for todays top market moving news from new york and our london team. We want to begin in the u. S. Come over Senate Democrats blocked Mitch Mcconnells attempt to advance the coronavirus economic rescue package. Minneapolis fed president neel bloomberg the fed can do more to support the economy. We are being more aggressive. Is there more we can do . Yes. Is there more we may end up doing . Yes, but i feel we are being very aggressive. Alix joining me for more is Michael Mckee. Walk us through what he said, what more they can do, and what is going on in d. C. Michael jim bullard is the one who really scared the markets by saying a 30 Unemployment Rate and perhaps a 50 annualized decline in gdp during the Second Quarter. Morgan stanleys is the closest to that 30 , so he thinks things can be much worse. They still say the f
You are in the world. Welcome to bloomberg surveillance. We changed hours in europe to get an extra hour. Ill be joined by tom keene in one hour. Weve had a couple incredible weeks on the markets, a lot of volatility, a lot of people working from home. Good morning to you, as well. European and asian stocks declining this monday. U. S. Equity features are pretty fluctuating, investors trying to figure out negative coronavirus news means against the stimulus measures that trigger the balance in risk assets last week, dollar getting, oil falling desk gaining, or will dollar gaining, oil falling. Lets get to blooming first word news. Is viviana hurtado. At his President Trump goal of a normal life by easter. He wants the public to practice social distancing until the end of april. Earlier, Top White House advisor dr. Fauci telling cnn as many as 200,000 americans could die if efforts to mitigate the spread of the virus on to successful. Arent successful. Secretary mnuchin wants to have op
That seems to have worked because the dow which had been limit down has now bounced back and at the opening bell, we may be up 400 points. The dow will be up significantly at the opening bell. Same story with the s p and also with the nasdaq. Now, treasury secretary mnuchin, he says the Federal Reserve will have 4 trillion for loans to businesses. He says theres more where that came from and if congress doesnt get something going real fast, then they will go back to congress for more and he says the fed will provide any amount that is needed. Thats what the fed is doing right now. Thats the market. Thats the fed. Thats whats going on in congress. Now look at the price of oil. That has been a problem for American Energy producers and right now, weve got oil all the way down in the low 20s. Thats a continuing problem for texas, north dakota and for the Energy Producers and these energy stocks. How about the price of gas . That is absolutely tumbling. The National Average all the way down