Is the Oil Price War between saudi arabia and russia about to end crude prices enjoyed that biggest ever 1. 00 day rally after the u. S. President raised hopes of the troops will Donald Trumps intervention be enough and whats the impact of the rift between the oil superpowers this is inside story. Hello and welcome to the program im Bernard Smith over the past month 2 of the Worlds Biggest Oil producers have been in dispute about how to respond to the coronavirus pandemic demand collapse stuff to add lines grounded the planes factories shut their doors on countries impose travel bans crude prices fell further when saudi arabia and russia couldnt agree on cutting supplies to try and force Prices Higher now u. S. President donald trump is suggesting the feud may soon end saudi arabia has called for an emergency meeting of Oil Producing nations some era challenge reports. Signs that an Oil Price War between 2 of the worlds biggest producers made and sold the biggest one day leap on record
A problem there is so low they dont have the problem they dont have thousands of people that are positive with thousands of people that even think they might have it for hundreds of people in some cases so you have to know that you have to look at that you have to give a little bit of flexibility even if the state. In the midwest or in for alaska as an example. Doesnt have a problem so awfully tough to say close it down and the u. S. President was also asked about travel restrictions in the u. S. As a way of mitigating the spread. I am looking at hot spots and looking where flights are going into hot spots some of those some of those flights i didnt like from the beginning but closing every single flight in every single very very very rough decision that we are thinking about hotspots we go from spot to spot from. And well let you know fairly soon. And the u. S. Now has more than 200000 cases of quote a virus but more than 5000 dead. Now its time to take a look at another global look a
And Boris Johnson clapping for british streets filled with applause for the National Health service workers. The economic devastation caused by the coronavirus is becoming clearer, the u. S. Announcing a major rise in the unemployment rate. A record 6. 6 million americans applied for unemployment and if its for the first time in the past week. That is 3 million more than the week before. 10 Million People in total in the u. S. Sought benefits in march. It was a similar story in spain. The lucked out there has caused more than 800,000 redundancies the lockdown there has caused more than 800,000 redundancies, many Seasonal Workers as the coronavirus hits the tourism industry. Many spaniards dont have a job at all. The number of people applying for government benefits is 10 times higher than normal. Britt claimed universal credits in the last two weeks despite to chromium despite a stimulus package aimed at preventing layoffs. Lets get more of the situation in the u. S. Our correspondent
Hello there just gone 6 oclock in the evening here in moscow you with our table lets start this hour with some of the latest figures then we have on the 19 pandemic because the number of confirmed infections worldwide has passed 1600000 the death toll stands at more than 97366000 people have recovered. Well the virus is taking its greatest toll on the elderly with the picture of devastation emerging across care homes throughout europe deaths in such facilities have surged but exact numbers arent yet due to a lack of testing and also delays in reporting in italy the Health Director there were one nursing home does say there are no resources to cope with the crisis. I would describe what happened as a tsunami losing so many people at the same time is terrible but i have not even had time to process whats happened and mourn for those who have died well in many European Countries care home residents have been bypassed by overstretched Health Care Services in france almost a 3rd of all coro
Covid19 virus it is monday, april 6, 2020. You are watching cnbc. Good morning welcome to the show. Im dominic chu live at cnbc headquarters dow futures pointing toward a surge at the opening bell. If all things hold true, we could see an 838point gain for the Dow Jones Industrial average, 101point gain for the s p 500 and 320point gain for the nasdaq a big surge after down moves last week. Also keeping an eye on the bond market as well we are seeing some movement there in terms of yields on benchmark u. S. Treasury bonds and notes. Twoyear, 26 basis points or 0. 26 . A tick higher there. Tenyear benchmark treasury yields a hair over 65 basis points, or 0. 65 you can see sell off of government bonds, those yields rising crude also moving at least to the downside right now wti, 26. 60 after logging its best week in history well have much more on that trade in a moment. We have Team Coverage from around the world to kick off your monday morning. Julianna tatelbaum is standing by in our l