Will accept junk, recent fallen angels as collateral. Time now for todays market moving news from brussels in new york. We want to begin in europe, where the pandemic drove the economy to a record slump in april. Pmi Area Services completely decimated, falling to 11. 7. Manufacturing also dropped to 33. 6. Bloombergs maria tadeo joins me from brussels. Maria what you are seeing is that the Coronavirus Crisis is going to do a lot of damage to the european economy. [indiscernible] brussels tell us they do anticipate a contraction for the entire euro area. This is potentially huge. Youre seeing again the European Central bank stepping in to try to shield some of those markets, in particular in countries like. Taly ,he other side of the equation what exactly are european leaders going to do to help the ecb, to put more money on the table and also protect their own economies . There has been a lot of backandforth. Perhaps a 2 trillion euro package. But all of this is still very much in the
Notably russia, and surely it puts a crimp on the future of electric cars. Look at it this way. Why buy electric when a gallon of gas on average now costs 1. 81 and likely to fall much lower. In wisconsin, the average is all the way down to 1. 22. There are some places where its below 1. We will bring them to you. Its a big negative for the stock market. The dow industrials are going to open down 500 points. Thats roughly 2 . The s p down 1 . The nasdaq down 1. 93 . The oil crash really hurts stocks as well. Every energy stock is down. The airlines and the Car Companies, they cant cash in on cheap jet fuel and gas because people arent flying and theyre not driving. Where is the additional help for Small Business now that the first rescue package has run out of money . As of right now, it has not come through. Treasury secretary mnuchin negotiating with democrats over the weekend. Its supposed to be a better than 300 billion plan but its not here yet. Perhaps thats another reason for th
Is like on furlough. A stay at home reminder from spurs to its staff after manager Jose Mourinho and some of its players were spotted its wednesday the 8th of april. Apparently Holding Training stable and in good spirits sessions in a public park. Thats the latest on the Prime Minister who has spent a second thank you mummy for being a dock. Night in intensive care in hospital. Borisjohnson is receiving oxygen, but does not need a ventilator thank you mummy for being a dock. At the moment, as he faces thank you, daddy, for being a the effects of coronavirus. He had been due policeman. Being a doctor or. To oversee a review of the lockdown next week 21days after it came into force. Our Unsung Heroes, from the people but the foreign secretary, who know them best. Dominic raab who is in the latest of our hero half hours standing in for him we say thank you to the key workers suggested it was too soon for this to take place. Keeping the country running. 0ur Political Correspondent we will
In argentina saying they fear for their health while locked up during the pandemic. And the bond between patient and care families fit not enough is being done to keep people alive in us nurses. So that the original heart of the battle against coronaviruses marcie a significant breakthrough more than 3 months ago china reported its 1st death from the illness now it says its gone 10 days in a row without any fatalities the government in beijing says its detecting mostly imported cases and nearly no local transmission of the virus out of 12 new cases reported on saturday 11 were brought in from overseas and despite a ban on foreign nationals imposed late last month theres been a trickle of cases among chinese nationals returning lets go straightaway to sarah clarke who joins us live from hong kong is monitoring the situation so sara tell us what the latest is. Well certainly its a milestone as far as to the chinese governments concern with regards to no new deaths for the 10th day in a r
Any mutualization. Vonnie we are seeing a nice bounce for equities today. The dow in the s p both up 1. 5 to 1. 7 . The nasdaq up 2. 1 . All Industry Groups in the s p 500 higher, even though we are off our highs for the day. The one teetering on the edge is the home wherein transportation index, but they are basically flat to down 0. 1 or so. Some good earnings overnight. Many companies, including kimberlyclark, just getting rid of guidance altogether for the year because it is just impossible to know how the rest of the year is going to pan out. The likes of twoputt lake the likes of chipotle up, and Companies Like halliburton up. Diamondback up 8 , bouncing after getting absolutely hammered the last couple of days. Lets carry on the conversation about what is happening in the crude market, a big focus right now. Following that report on inventories. Weve also got the president s comments on what could happen the gulf when it comes to iranian boats. That is having an effect. Brent bo