Tom i would really suggest oil is important, but complete we secondary to the implosion that we saw yesterday and american jobs data. And the french data not much better. Right now, for global wall street, it is about calibrating the slow down and the nonrecovery out in the third quarter. And also, its the follow on from the rents that werent paid. There were massive upsets this morning. Francine i dont disagree. But oil can make things worse. Lets get straight to uber first word news in new york city with viviana hurtado. Viviana we do begin with oil. Opec putting together a Virtual Meeting of its members as President Donald Trump calls for a court need cut to end the historic crash in crude prices. Two delegates telling bloomberg the meeting will be held on monday. Saudi arabia insists it will only cut if others do. This includes the u. S. Of thetoric streak economy adding jobs for one under 13 months is probably ending as tom was mentioning. The march jobs report coming out at 8 30
Coffee 1000. 00 storm is now coming to all the sea theres of course. The u. N. Renews its call for a global ceasefire to help combat the virus. New york is in crisis helping new york. Another appeal from the governor of americas worst hit state is new york records more than 100000 coronavirus cases and nearly 3000 deaths. And almost right for picking but australian farmers fear their fruit will rot if they cant get enough workers. So then the financial damage caused by the coronavirus pandemic is now quote way worse than the 2008 Global Financial crisis the stark warning has come from the head of the International Monetary fund Christina Georgieva says the trillion dollar war chest will now be used to fight what shes calling a worldwide recession this is a crisis like no other. Never in the history of the i. M. F. We have witnessed the World Economy coming to a stand still we are now in recession it is way worse then the Global Financial crisis we have one trillion dollars war chest an
We had reached that 2000 level at 20,000 level. Coming back up against that. Tohink volatility is here stay. That might be the least most can say. Some peoplehear saying raise the possibility markets. He something suggested sec close the earnings this quarter. She said, most companies now are even being able to report quarterly guidance. They are just pulling their forecast. They even dont know the forecast. And try tocome out find a forecast for the s p 500 onearnings per shared growth year over year basis. Think of all the concerns. We will not get those answers or so untilmonth the 1st quarter ends. We start to get reporting for sole of those companies. Are some good winners today. There are few that i should mention that does remain in the healthcare space. This is interesting. Theyre working with pfizer on a potential vaccine. Trials looking for human early this summer. Early vaccine they are working on. Theainly some good news in markets. Appreciate that report. Now to chicago, w
And not so from the Pakistani Foreign minister mahmoud talks to al jazeera. Combine thats right. But if they are on but. They are going to want to take suitcases more than 100 countries within the police to your new york. Hello im Richard Burton youre at the listening post among the media stories that were covering this week china tries to flip the script on covert 19 it has issues with the way the International Media are covering the story right down to where the virus was born the Film Industry in apartheid era south africa. And the subsidy that was supposed to help black South Africans get into the movie business justice delayed can be justice denied but not in slovakia where the murder of a journalist has led to a crackdown on corruption and. Dont be too fact in the poem turn to music video turned online anthem for the me to move the coronavirus story took a turn last week when a government spokesman in beijing told journalists to stop reporting that the covert 19 virus or. In chin
And the president needs to be heard from on this issue. Vice president s appearance yesterday only caused the market to worry whether the president was even worried enough. Its important that hes doing what hes doing, and get out there in front of america. Tonight the president will put all those concerns that investors have and america has at bays as he pitches a new stimulus package. The easiest way to do this, the payroll tax cuts, it maybe one of the plans we hear from the president tonight. The other would be industry tax cuts. You know how much it bothers me that things are getting some politicized. I dont think these measures will be appreciated by democrats. We are already seeing pushback by the left and the Mainstream Media. These payroll tax cut is not if fully baked plan. But what do you think of the concept of that in general . I dont think its the right concept. I have not found a single House Democrat interested in a payroll tax cut. The payroll tax holiday only goes to p