Later, a Bed Bath Beyond stock handing in one of its best days ever one of our traders says it could be headed even higher from here. We start with a developing story out of washington. The next round of coronavirus aid apparently hanging in the balance. Lets get right to it with ylan mui. Reporter the house has begun debate on democrats 2. 2 trillion relief package with a vote expected later on this evening. Five Straight Days of negotiations between the treasury secretary and the speaker of the house nancy pelosi have failed so far to produce a compromise the white house has propose aes 1. 6 trillion bill but those numbers are still far below what democrats are willing to accept. Pelosi also pointed to business and child tax credits as another major Sticking Point in a statement her office said that the two sides discussed further clarifications but distance on key areas remains. Chuck schumer put it even more bluntly. He said, they are not in agreement yet and there are lots of area
A corona Virus Outbreak one of the front runners recovered 1000. 00 vaccine suspends trials after a bear to spend falls ill. And displaced and desperate for help hundreds of thousands of people are affected by flooding in sudan. Thank you very much for joining us afghanistans Vice President has survived what appears to have been an assassination attempt at least 10 people were killed when his convoy was bombed in kabul the former intelligence chief is one of the most targeted men in afghanistan and has escaped several attempts on his life a short time after the blast he posted this video and was a well you saw it after about that offer i want to assure you in a message that im fine in saif but some of my security guards are injured and they are in hospital i do not know about because you are to use about our people and once again im sorry about this i dont want to thank all of those who send their messages about my health i want to thank all the Security Forces were fighting against te
Indices were down 2 . Right now the dow is down. 9 . Before some tech earnings, the nasdaq up a quarter percent. A lot of movement in oil. We will be speaking to paul sankey about that. The 10year yield down to 55 basis points. Just to show you that it is Consumer Companies like procter and gamble that are helping the market recover a little bit today, that index up 1. 9 . People cannot do without their necessities, as long as they have the money to buy them. U. S. Economic data showing gdp shrinking at a record pace. 17plus million americans applying for ongoing benefits, which necessitates the need for more to be done. Lets bring in narayana kocherlakota, former president of the minneapolis fed. He joins us from rochester, new york. Talk about the dire Economic Data this morning and what it tells you about whether even the minimal reopening that we are doing is helping the markets more broadly. Narayana thank you for having me on. The numbers were certainly eyeopening. 10 fall transl
Spread widened out. Thursday in terms of the eu, and theres going to be clashes about whether or not we see joint debt issuance. Vonnie we will speak to maria tadeo about that in just a few minutes. In the u. S. , we are seeing equities dragged lower by oil, down almost 40 at one point, and back there again now. We are trading at 10. 85 for a barrel of wti. It is really insane levels of trading. The contract expires tomorrow. Vix trading at about 40. One stock to point out, united airlines. Obviously, the airlines having a terrible time of it. It is talking about topol revenue in the First Quarter about total revenue in the First Quarter down 17 . It will get 5 billion through the payroll protection programs, but it is just one of the airlines having a hard time. Right now, homebuilders are the worst performers in the s p 500. Guy lets get back to that board we were showing you at the top of the program, the price of debbie ti crude of wti crude trading 10 a barrel. That is the lowest
Exception of the bond market. We are down at session lows on the stoxx 600. Sector certainly taking it hard today, as we see this drop, a very sharp drop we are getting in the crude market at the moment. Theres a top line running on the bloomberg of the sharp drawdown we are seeing. In terms of the bond market, and some ways, this is where the real action is. The expectation is we will see significant supply, as a result of this we have a big move in bunds and btps. Btps pretty under pressure. It looks like the ecb via the bank of italy was in the market earlier on. When it comes to the markets, dollars strong. We are now trading at cable rates we havent seen since the mid80s. We went through 1. 20. Now we are trading with a 1. 18 handle on the cable rate. Alix i love that you brought up btps. At one point they were up by 58 basis points. The Trump Administration now promising a 1. 2 trillion dollar stimulus package, including direct payments of 1000 or more to americans. President tru