Many citizens are demanding an end to stayathome orders right now. Well have the very latest on this revolt. One country, south korea seems to be doing right. All that and so much more on making money. Charles all right. Stocks under pressure all day long but it is crude oil the center of attention, folks. The may contract down 98 , a record low. On friday, Energy Companies ironically they were the biggest gainers in the entire market even though crude was down we had a great guest on, a oil executive. We wondered what he thought had to happen with the commodity price. He said that the oil industry had to do something it never did before. Take a listen. The choice is clear right now. We have twoways we can go about this we do nothing. That will lead to single dollar oil prices. It is going to decimate the domestic industry. Over a million jobs will be at risk and it is going to increase our dependency on foreign oil. Or we are part of a Global Solution to what is clearly a global probl
With a big bang and open up our country or certainly most of our country and i think were going to do that soon. You look at whats happening, i would say were ahead of schedule. Now, you hate to say it too loudly because all of a sudden things dont happen, but i think we will be sooner rather than later. Ashley sooner rather than later. The markets responding positively in the premarket today. The dow up 330 points. It is a holidayshortened week. No trading tomorrow. We have long weekend coming up. What will that do to the markets . We will get into that. As for oil, up as opec plus meets. We are likely to hear about a deal between the saudis and russians to cut production, although up until now, they havent seen eye to eye. In the next hour, we will hear from fed chair Jerome Powell and Senate Majority leader Mitch Mcconnell. Powell could move the market with his remarks on the economy. A half hour ago, the fed announced 2. 3 trillion in new loans available. That helped offset the neg
European stocks are down a little bit, a lot of focuses on trade. A lot of focus on what happens next. We heard from donald trump saying hes not ready to roll back tariffs, some and we heard from his advisors last week. The focus is on alibaba as a litmus test of the strength of the chinese economy for a single day and the numbers are staggering. China approving new loans coming it 661 billion yuan. Pound at 1. 2805. We will be speaking to u. K. Chancellor, that interview was later today. Lets getntime straight to bloomberg first word news here in london. Spain has left more ungovernable than ever. Their leader now has fewer lawmakers than before, he now faces torturous negotiations to form a government. Australia is bracing for another week of devastating bushfires, flames in the eastern seaboard and even areas of great sydney are facing catastrophic threat. More people have died and than 150 homes destroyed as fires rip through areas hit by a two year drought. Chinas consumer inflati
Yields are still high relatively. The bloomberg dollar index continues to come down from the high for the year days ago. 12. 71 the level. Nymex crude has entered correction territory. Down maybe 10 this week alone. Nymex crude trading at 82. 72. Jon we are watching the oil story in canada and the currency story as well. We have seen the Canadian Dollar stronger. A lot of people were thinking the bank of canada has got to continue to navigate the inflation challenge given resiliency in the canadian job market. Smaller economy, but still, the nearly 64,000 jobs created in september was triple what the economists who track these data points were expecting. The Unemployment Rate held steady, 5. 5 . But the wage growth story and we talk about these labor challenges across north america yearoveryear, you saw an increase of over 5 . The inflationary effects are things central bankers are watching closely. Matt yes. Really fascinating beats in canada and the u. S. I mentioned the september jo
Surveillance. What a week we had on the markets last week. This is the tension as we get onto monday. This is what im looking at in terms of stocks. They are gaining some 1. 6 . We are also seeing futures in the u. S. Pointing to a higher open. Things can reverse quite quickly and change quite quickly. Downan see the vix index some 10 and eurodollar, 1. 2276. If there is an infection beyond equities and the vix, it would be in credit markets. Also coming up, we talk markets and last weeks correction with Morgan Stanley. Later on, we talked to eric nielsen, chief economist at unicredit. Plus, we talk ecb and brexit. Lets get straight to the bloomberg first word news. Is readye u. S. Says it to engage in Nuclear Talks with north korea. Vice president mike pence dubbed the new strategy maximum pressure and engagement at the same time. The comments signal a shift in policy after they agreed to pursue a dialogue with pyongyang at the winter olympics. Budget director Mick Mulvaney has warned