A congressional hearing in which case that will. Well break down the shake up at one of americas largest banks a lot to get here on a very busy day so lets get started. On oil lost as much as a 3rd of its value monday in its biggest drop since 1901 gold war fell to 30. 00 to 30. 00 per barrel as saudi arabia launched a price war with russia after the 2 failed to come to an agreement at its vienna meeting russia declined to agree to production cuts that have artificially kept Oil Prices Steady officially russia said it wants to wait and see what the Coronavirus Impact on demand is before agrees to cuts on officially russia is angry about u. S. Sanctions of Russian Energy Company Rosneft and attempts to stop the north stream to pipeline to germany by flooding the market and sinking prices russia sees an opportunity to crush the us shale industry which is dangerously levered to the hilt russia is also fed up with cutting production outputs timeout that time while u. S. Shell producers eac
Demand a Global Movement to divest from fossil fuel and crushing debt loads the industry has about 86000000000. 00 of rated debt due the next 4 years and as analysts have warned before below 50. 00 per barrel Many Companies will be unable to service their debt obligations this in turn has the Banking Sector as these Companies Start defaulting big banks including j. P. Morgan city Group Wells Fargo and goldman are down between 9 to 13 percent today as the selling pressure intensified across all sectors u. S. Markets triggered a 15 minute halt at the am the dow fell over a 1000 points as investors continued to seek safer assets the yield on the 10 year dropped below 0. 5 percent for the 1st time ever in the history crude prices have become a bigger problem for the markets than the coronavirus now as itll be virtually impossible for the s. N. P. To bounce when the Energy Sector is down 15 percent. Interestingly enough gold the defacto safety asset is not spiking instead it is trading flat
Warned before below 50. 00 per barrel Many Companies will be unable to service their debt obligations this in turn has the Banking Sector as these Companies Start defaulting big banks including j. P. Morgan city Group Wells Fargo and goldman are down between 9 to 13 percent today as the selling pressure intensified across all sectors u. S. Markets triggered a 15 minute halt at the am the dow fell over a 1000 points as investors continued to seek safer assets the yield on the 10 year dropped below 0. 5 percent for the 1st time ever in the history crude prices have become a bigger problem for the markets than the coronavirus now as it will be virtually impossible for the s. N. P. To bounce when the Energy Sector is down 15 percent interesting way enough gold that defacto safety asset is not spiking instead it is trading flat someone down indicating that people are selling with. Well prejudice this type of broad based sell off is indicative of a cash crunch and that leverage funds are rec
Home builder market, as crazy lows spark a mammoth rush to refi but could rates drop even lower . Mortgage guru barry habib of mbs highway here exclusively on whether you should pounce now or whether you should wait. Opec plus russia, fretting about the deadly contagion as the price of oil plummets. Its no longer if, but by how much the cartel will slash production. Dan yergen is one of the worlds foremost experts on black gold. How low will that go . Dan has an idea. He will reveal it right here. Its a fox business exclusive. And as companies from bmw to twitter order their employees to work from home, theres a softwear Company Helping you get the job done without leaving your couch. The ceo is here on how well its working. With less than an hour to the closing bell and gold and bitcoin surging, lets start the claman countdown. Liz breaking news. Senator rand paul of kentucky, the only senator to vote no as moments ago, the Senate Passed the 8. 3 billion emergency funding bill. This b
I like real businesses real , clients, real revenues, real profits, they have got all of it. The imf predicts growth will rebound in 2020, but the director issues caution. It is shrinking. Ecbs bill blaine as has his insight on challenges ahead. The sector has faced a lot of challenges, but overall domestic demand is significant and continues to be. It is all straight ahead on bloomberg best. Abigail hello and welcome. Im abigail doolittle. This is bloomberg best, your weekly review of analysis and interviews from Bloomberg Television around the world. Lets start with a day by day look at the top headlines. The human cost of the coronavirus continued mounting as the week began, with reported cases nearing 75,000. And as expected more and more , companies are cutting revenue forecasts in light of the outbreak. On monday the warning came from apple. Apple is the latest company to issue a virusrelated guidance miss as the outbreak hits factory output and demand. The company says it has re