Economy. More than two trillion more in programs today to support business and the bond market amid the covid19 out break. Fed chair powell saying the economy and the recovery can be robust this after another 6. 6 million americans file for jobless claims that brings the total over the past three weeks to nearly 17 million. Take a look at oil it was surging earlier today but pairing those gains now, its now negative on conflicting reports on whether or not opec has reached a deal thanks. We have all the big stories covered today. Crude being one of them. Its down 5 well have more in a moment. Bob on the markets and kayla tracking the moves in congress, which didnt happen today. Bob, we kick it off with you we are just off the highs the banks are lagging. Banks, retailers, just off the highs for the Dow Jones Industrial average bank, retailers and real estate doing well energy has been lagging a little bit. Were awaiting for details on opec and the deal or no deal we dont know yet. Ther
We are going to bring you todays market moving news from around the world. Joining us from hong kong is yvonne man, from london, emma chandra, from washington, Kevin Cirilli, and Michael Mckee joins us in new york. In hong kong, chief executive carrie lam will hold her first public dialogue in response. To the protests yvonne man is response to in the protests. Yvonne man is outside the venue. What can we expect . About several hundred ,eople are out here, chanting not one less, referring to the five demands protesters have. Could bring some pictures of what it is looking like right now, about 150 people chosen from 20,000 applicants in the public to take part in this dialogue, the first is the public and with the government, a town hall style with the governing in the middle alongside carrie lam. They will be randomly picking people from the audience. They have three minutes to ask a question. We will not hear typical q a. They will ask a couple of questions first, and they government
Lower on concerns about the health of the u. S. Economy and a number of new bearish notes from new wall street firms hurts the sentiment further. Lets check in on the biggest losers in the dow, which as morgan just said, is down sharply, near session lows, which were 462 points. Its currently down 410 points, as you can see, pfizer down 4 Goldman Sachs down 2. 7 cat down healthily 2. 56. The 30year just hit a yeartodate low of 2. 117 t the. Joining us for the full hour, victoria fernandez at cross mark global investment. Thanks for joining us. My pleasure when you see yields slip like they have done, like they did last week, does it make you want to press the sell button for broader u. S. Equities . We dont want to sell we have that longer term outlook. We think theres a lot of volatility going on and thats going to continue to play out. We are looking at these treasury buys, not just from Short Coverings but outright buying as well but i think you stay invested at this point there we
Those right now, but our lows are not that low to begin with. Lows right session now. So. Off about. 25 or u. S. Factory output from march fell to its lowest since february of 2015. Consumer sentiment falling to its weakest in seven months as well. I want to show you what the s p has been doing intraday. Bend,ook at this trading one of the smallest we have seen in a while. So, weuly of 2014 or just barely hit 26. Thats only about several points are so. News crossing that apple is going to extend its production cuts through the next quarter. Apple is obsession those that did hit in the 1 00 hour, but still down about 1. 5 there. The nikkei in japan suggesting people are not buying as many phones as apple expected. This having a knock on effect on apple suppliers. Whats been you happening with how this has been impacting the dow. Lets show you. Let me illustrate this. The biggest drag on the dow right now is goldman sachs, down about 16 points or so. The second biggest drag on the 11 is
Sluggishness rising unemployment and the risk of deflation in the euro zone. Mario draghi considered confidence in europe something not heard in a while and massive Bond Buying Program will begin in just a few days. Today, reaction was in the currency market as the euro fell below the level for the first time in 2003. Details on draghis plan from the European Central banks meeting in cypress. Finally, going to start the Quantitative Easing Program. It will be next monday. And we also know now that the ecb is also going to buy sovereign debt with negative yield. Apart from that mario draghi left the doors open to perhaps even extending the qe Program Beyond the current planned date of 200616. It will depend on Inflation Development in the euro zone. But can say that mario draghi is very upbeat about the economic developments here in europe. Now predicting that gdp growth on average will reach almost 2 by next year and deflation will be back close to its target by 2017. Ecb is declaring