Virgin australia tracks interest from indias largest by just budget carrier. Shery lets get you started with a quick check of how the markets are trading. We are seeing u. S. Futures under pressure, this after the regular session ended mixed. Markets pretty optimistic about reopening some parts of the u. S. Economy, but also a bit more cautious given that we have seen flareups around the world. The s p 500 finished unchanged. Health care led the gains, but financials weighed on the index. The nasdaq composite getting for the sixth consecutive session, outperforming again. The longest winning streak this year. Take a look at what oil is doing. Wti gaining ground, above 24 a barrel. This after it fell and erased earlier gains in the new york session. Tohave saudi arabias plan output, providing a boost but that was not sustained. We have opec given its Monthly Oil Market report on wednesday. Haidi in the u. S. , President Trump has responded to reports china is considering scrapping the p
Pandemic could do lasting harm to u. S. Productivity. And bnp paribas warns earnings will see a big hit from the outbreak as it takes more than one billion dollars in charges as a writedown. Economyr view, the getting back to normalization will be happening at the best at the end of the year and a return to gdp to normal will not be before 2022. Voice of guidance for those numbers. Warning that profitability could drop as much as 20 this year. Between 15 20 is the warning. In the dropping by 14 quarter but it is the announcer 9rovision covid1 provision. When you think about what has come so far, santander, 1. 6 billion. Deutsche bank was 500 million. What you see here is para bof taking a smack at the equity side of the business. Fixed income commodities rising by 35 . Those are the top line numbers. Let us get to lars maca henil. Were three projections impacting. The cost of risk. 500 million. Literally affect is leading to the accounting. Our portfolios are growing linked to what the
Futures indicating gain at start of trading. Take a look. Dow industrials up 38 points on top of rally yesterday fueled by a rise in oil prices. All the major indices higher this morning. Oil prices adding to yesterdays gains as well. Take a look at yesterdays close. Dow industrials up 456 points. Other averages also strong, oil prices this morning 1. 95 at 1573 creeping back higher on oil. Reopening the american economy, lockdown easing in some areas of the country bringing cheers to some and concerns to other including the white house. Most if not all of the economy will open later this summer. Secretary of state mike pompeo meanwhile blasting china and the World Health Organization saying they need to be held accountable for lack of transparency as the focus remains on the lab in wuhan as the origin of virus, something ive been putting a spotlight for months. Meanwhile missouri is filing a lawsuit against the Chinese Government. Attorney general eric schmitt, 7 30 a. M. Eastern on G
You see it in the markets where for the first time in ages, we have sort of got spaces across equities, bonds, currencies, commodities. The focus is on europe. It really pulled back toward the tendency of disinflation and deflation. The urgency of stimulus in europe is really front and center today. It certainly is and we will see if leaders agree on something. Lets get straight to the bloomberg first word news in new york city with Viviana Hurtado. Viviana President Donald Trump signed an executive order to curve immigration. Green cards are currently on hold. They allow foreigners to become permanent residents the president says that will limit competition for jobs. An exception is being made for medical professionals and researchers. The u. S. House is expected to approve today the 484 billion rescue plan. The bill adds more money to aid Small Businesses plus money for hospitals and coronavirus testing. U. S. House Speaker Nancy Pelosi says her next priority, a major aid package for
Notably russia, and surely it puts a crimp on the future of electric cars. Look at it this way. Why buy electric when a gallon of gas on average now costs 1. 81 and likely to fall much lower. In wisconsin, the average is all the way down to 1. 22. There are some places where its below 1. We will bring them to you. Its a big negative for the stock market. The dow industrials are going to open down 500 points. Thats roughly 2 . The s p down 1 . The nasdaq down 1. 93 . The oil crash really hurts stocks as well. Every energy stock is down. The airlines and the Car Companies, they cant cash in on cheap jet fuel and gas because people arent flying and theyre not driving. Where is the additional help for Small Business now that the first rescue package has run out of money . As of right now, it has not come through. Treasury secretary mnuchin negotiating with democrats over the weekend. Its supposed to be a better than 300 billion plan but its not here yet. Perhaps thats another reason for th