The department of Justice Reportedly now taking a closer look at potential fraud. Boeing saying, no thank you to the government bailout taking matters into its own hands it is friday, may 1, 2020, here on cnbc. Good morning, good afternoon, good evening and welcome im Brian Sullivan thank you for joining us on this friday and applicants 427 days are now over it is may 1 but stocks are looking weak to start the month. Futures are off sharply 450 on the dow as President Trump threatened new tariffs on china partly because of the retaliation on the coronavirus pandemic and what he views as misinformation all of this as the s p and the dow closed out their best month in 33 years. The nasdaq, their best in 20 shares of apple are under pressure this friday seeing weak iphone sales around the pandemic but services did surge as everybody is sitting on the cloud. Ceo tim cook pulling apples guidance saying, quote, he has great confidence in the longterm business for apple in the short term, it
Today. We are seeing crude fall 13 when it comes to w. T. E and the phillipines, that is one of the weaker side. But when it comes to the june ontracts, down 4 to 19 bucks. Look at what it comes to w. G. E . We are hovering around the 11 mark when it comes to new york crude, down 13. 6 . We mentioned about the United States oil fund, the largest oil fund in the world selling off e and ingsings in w. G. Unexpected move. Lets get more analysis with jp morgan asia yeah strategist. Is this starting to hurt the equity market . I think the moves that we are seeing in the oil complex is very, very specific. And looking across massive impacts doesnt i think the easiest thing to see the forward looking long data futures on Oil Prices Remains rather stable and it is not assuring. And the weakness we are seeing the new york futures is specific to the supply and storage they are seeing. I wouldnt put too much into that will market at this point. Interesting you say that, there is a divergence and
Good morning and welcome to the show im dominic chu. We begin this morning with breaking news and a possible turn around tuesday after stocks pulled back following the historic rally futures pointing to some gains the dow would open up higher by 286. Nasdaq higher by 106 points if these futures would hold at opening bell watching the dow futures, you can see it has been relatively steady but weve lost a little momentum we currently sit at the lows still the dow higher by some 42 odd appointments checking the bond market, we are seeing a Little Movement 2year yields down lets now go worldwide matt is in singapore and Julianna Tatelbaum in london a couple of other markets in asia back on line as well, today including australia and new zealand. It was a particularly positive session on the backs of stronger than expected data out of china a look at both of shanghai and hong kong markets after much trade data eclipsed expectations exports falling by 6. 6 much smaller than expected. Imports
Above 24,000 keeping an eye on whats happening with this. The dow has been up. The First Time Since february. If the dow is up again for the fifth session, the first time that has happened since the middle of january. Crude oil has been a big concern. That is down 11. 5 to 11. 85 you are looking at energy being the best performing for april even despite these big swings we have other energy news back with bp out the energy giant reported a 67 slide. Ceo Bernard Looney that the company had a good quarter tough environment here to date it has just been historic and went negative for a while. Back to 12. Crazy. Which is relative how many acres do you have there. You could store oil. Could you put a tank in the ground or just fill the pool we could probably do both we could do a whole oil field here no one Takes Delivery you would think given the challenges that uber is having, they would be doing oil delivery the other thing i told you to buy with all that land is live cattle instead, we
Will allow us to master this challenge while delivering First Quarter profit slumps at hsbc and the bank warns that the coronavirus will have an impact the cfo says the outlook is improving for one key market caller we are beginning to see signs of recovery in china in particular, lesser extent in hong kong. We do think Economic Activity in q1, we do expect to see a recovery going into the Second Quarter. Novartis beats expectations as the swiss pharma giant be benefits but says potential treatment needs more time. Bp says environment is brutal and unprecedented we are very, very focused on driving that base even down and getting it to less than 35 a barrel next year and beyond if possible President Trump says china could have stopped the coronavirus from spreading adding his administration is probing what happened and warning beijing of consequences. There are a lot of ways you can hold them accountable. We are doing very serious investigations, as you know. We are not happy with chin