Will mean then. A lot of earnings out there. Without question the ecb meeting is front and center today. A change after what chairman powell said yesterday. Absolutely stunning the difference between the u. S. Central bank in the European Central banks. Its could be a radically different press conference from lagarde today than what we saw from powell. Francine many people say its a different economy and cycle. Im excited to be talking about that. First lets get straight to new york city. Trumpbegin with president blaming chinas Coronavirus Response on politics. He says beijing would do anything to see him lose the election. The president did not provide any evidence china would liberally mishandle the outbreak. He says he is considering various ways to punish the chinese government. Chinas response, it has no interest in interfering in u. S. Internal affairs. Chairmanderal reserve jerome powell, he worries about the longterm economic damage of the coronavirus. If the economy starts to
The cash trade is an hour away. Lets get your top headlines for you off of the bloomberg terminal. Operation work speed. President is organizing a Manhattan Project file effort to fasttrack a coronavirus machine. Big pharma will work with washington and the military to develop it by years end. Lasting damage. Jerome powell voices concerns about the longterm fallout from the outbreak. Attention turns today to Christine Lagarde as economists expect the eurozone economy to pump the most since the Second World War. Grenada cuts. Norway joins opec in slashing oil output. We will see shortly what the ceo , after exxon mobil throws its dividend for the first time in 13 years. Just under an hour away now from the start of cash equity trading across europe. Lets take a look at futures here. We have gains on the euro stock. In bluechip benchmark index europe of almost 1 . Dax futures are up more than 1 this morning as ftse futures rise about three quarters of 1 . Anna . 6 anna lets talk about br
Coronavirus cases continue to rise as the fallout cripples the Global Economy. China may be forced to abandon growth targets for the year. We are just getting some news crossing the bloomberg when it comes to expectations for summer earnings out of we are expecting a pretty down quarterly in terms of the impact for the asiapacific. We will be bringing those to you shortly but in the meantime, we have data out of south korea. Shery we are getting the current account numbers for south korea for the month of march. Current account surplus coming in at 6. 2 3,000,000,000 fine 6. 23 billion dollars. The current account surplus narrowing a little bit from the previous month of february. Also, the month of february being revised lower to 6. 4 billion. The goods trade balance coming in at 7 billion. The surplus was a little larger than the previous month. Given that we do have the coronavirus pandemic and april export numbers really taking a hit, the march current account numbers not looking t
In the u. K. , Prime Minister Boris Johnson defends his handling of the crisis. Phillips is set to produce 15,000 ventilators per week to ease shortages. This phillips number coming through. In terms of what we are looking at, 4. 2 billion euros. Estimate 4. 16. A little bit off a beat. Phillips said it wont provide 2020. Pecific guidance one of the questions, whether they would suspend that guidance for the rest of the year. They could not really quantify the impact or duration. Manus they had gone for a comparable target this year of 46 . They are aiming for cfg. Rise in 2020. In First Quarter comparable sales, what they are doing in terms of the respirator business, then there is the rest of the world to think about. Comparable sales are up nearly 23 . Billion,arly 44 significantly below the estimate of 289. At 6 30, he will join us for that conversation. Lets set the agenda. It is about oil, about the banner headline, crippled by 20 at the nearly open. If you want to understand dem
What exactly comes next for the coronavirus, how governments will deal with it and if there are any faults. Lets check on your markets. Today, we have a market that seems focused on the number of affected and deaths falling. That is the good news. Many deaths, but it has fallen from three or four days ago. Equity futures are down. European stocks are holding gains. They fluctuated quite a lot. It is a big week for corporate earnings. They are trying to a tentative signs that the infection rates are decelerating. Treasuries, pretty much unchanged. Plunging below 15 a barrel to the lowest level in 21 years. Lets get to the bloomberg first word news in new york city with viviana hurtado. Viviana we begin this new is a news morning in the u. S. , the nation temporarily postponing head of client Investment Strategy tariff payments to free up cash for businesses hit by the pandemic. It is limited in spoke scope so it will be on steel or aluminum or enforcement actions, including taken a big