Order is crumbling under corona shock can you explain. Yes you know i mean its 2 Different Things on the one side i think people the general public have come to understand that this austerity model has left populations otherly unprepared to deal with. Endemic and there will be more up and its a little bit more inward in the cities and if theyre not prepared for this one its certainly not going to be for the next one unless you change things whether that link to this is you know the language of essential workers and the idea that medical workers nurses doctors or janet do ambulance drivers accept a censure is actually news to this sector because theres been at least 2 decades of the Union Busting against nurses against ambulance drivers and so on so i think theres a general understanding in the lack of resources lack of respect basic respect of these workers and when things are no longer an emergency will be remembered that i think thats a very important i believe that the memory of bei
Road, maybe that is actually not the case. Rolling overs as well. Maybe that is oil. It could just be a sentiment feeling, as well as any sort of Political Risk because of kim jonguns health uncertainty. Lets get to todays market moving news from our team in new york, as well as washington. We want to begin with this meltdown in the oil market. Wti futures plunging below zero for the first time in history yesterday as many storage tanks reached capacity. Brent for delivery in june pushing to the lowest levels since 2002. Annmarie hordern has more. Annmarie what we are really watching today is the number of contracts for wti and brent. Yesterday, the big question was is this just a big technical anomaly. I think what you are seeing today is that this is more widespread. What is showing is what traders have been saying for quite some time. Thething i want to bring up point is the june contract, trading at 16. 69. That is a contract that is not expiring. In 18dropping the most years. You
Are in the markets for the second day in a row, weve had a nice rally in the open thats faded as we go into the close. This is part of that fading on the optimism of the reopening story here so banks have been weaker, retailers generally have been weaker, but still up fractionally, because the big five, the mega cap tech stocks are on the upside. We were talking about guidance, and once again, a number of the companies today pulled their guidance papa johns, mattel, office depot, genuine parts company, equity residential, Waste Management they join 170 other companies, that is one third of the ap 500 that has declined to give guidance and this is one of the reasons were seeing so much stock volatility how do you figure out what the right prices and multiples are when you dont have any idea what the earnings situation is going to be like we also have problems with dividends. Many companies are cutting their dividends as well, or even eliminating them altogether. Morgan stanley put toget
Dow futures are down by 40 s p futures down by 5. 5. If you want to take a look at the treasury market, the tenyear right now at this point, of course wti, i should point out, is down by 2 still trading above 24. The tenyear yielding 0. 7 0. 697 andrew well get an update on the pandemic the number of cases worldwide, crossing 4 million with 1. 3 million, thats in the United States the biggest hot spots in america are new york, new jersey, massachusetts and illinois all with more than 75,000 cases. Now, new yorks Governor Cuomo saying yesterday the number of new cases was back to the level from two months ago. Lots of good news there, when he first issued the shutdown order. Overnight, india, reported 4,200 new cases in the last 24 hours the largest single day increase in the country they are entering the final week of a nationwide lockdown a few cluster formed around nightclubs in south korea. They eased restrictions last week but on saturday, shut down all clubs, bars and discos in se
Work their way in here, from the system later today, overall we will have temperatures, jumping up. 40s and 50s. Again, the northwind is not as strong as it was yesterday. I dont think it will matter too much. 40s and 50s. There is one around kensington. If you get the easterly breeze, it will make for a warm day, temperatures after today are taking a huge tumble as we head into the weekend. Highs today will be well above average, on monday they will be below average, but not today. 70s, 80s and 90s. Okay, lets see if things are okay on this friday morning. They are okay, steve, traffic is moving along around the bay area. In fact, we will see that the commute is light everywhere you look. We have not had many problems. This is a live look at highway 24 on the way to the tunnel. If you are going to the bay bridge, that is also light. Lets go back to dave. Today, the start of phase 2 of governor newsoms plan to reopen california. The risk businesses will be open, but in certain counties