Restrictions in new york city is boosting education about masks and social distancing. U. S. And china ramping up tensions. Washington rejects beijings claims to the South China Sea and top senators are facing mainland sanctions. Shery lets get you started with a quick check of how the markets are trading. U. S. Futures opening higher, gaining one quarter percent after stocks fell in the regular session. Sharply higher throughout most of the day and then we saw a bearish reversal in the afternoon. Marcus dealt a double whammy with data showing that virus cases surged in california, as they that makes up 15 of u. S. Gdp. Not to mention escalating tensions between the u. S. And china. The u. S. Denounced chinas claims to the South China Sea. The s p 500 at one point hit the highest level since march before falling in the afternoon. Led by tech and communication stocks. The nasdaq composite hit another record high. At the end of the session, the biggest fall in more than two weeks. Take a
Money away for loan loss reserves. Alison Williams Joins me now. What were some of your takeaways. [no audio] actually, we are still working on her audio, so lets go to Annmarie Hordern first. Part of what we heard was from fatih birol of the iea talking about how bad demand would be, despite any production deal. Annmarie some seriously drastic headlines out of the iea. The other part is what they are talking about what this means for storage. It is testing the logistic capacity to the limit. On the demand side, they see april serious demand destruction, down 29 Million Barrels a day. For the year, what that means is 9. 3 Million Barrels a day, the worst we have ever seen on record in terms of demand. What the opec cuts probably did was maybe pull us back a little bit from the brink, but not doing that much. You can see that with what is talking about in storage. They say that could be exhausted by the middle of the year. All of this putting downward pressure on the future prices. Wti
Annabelle we are cutting down to asia major market trading opened at the top stories this hour. The s p 500 closes in historic high as the Federal Reserve signals its on track to cut rates for the first time in two years. Haidi officials maintaining the outlook for three cuts this year suggesting that the reason of tech inflation is an uptick in inflation. Annabelle reddit is at 34 a piece, it sold more than 15,000 shares in the offering. Breaking news at the top of the hour, the hkma keeping its base rate at 5. 75 . No big surprises given the hkma is not an independent authority, it follows that that in its policy changes but certainly the organization has been under pressure given this is an environment that has been part of the bahai fed rate environment and the weakness in the chinese economy, something not easy for hong kong to be in, really. Haidi not at all, we monitor the singling out of the fat and in a lot of ways perhaps the fed meeting, the guidance, the tweaks to the dot p
Setting out their stall. Our political editor, chris mason has been tracking them all day. Applause placards and cheers and a baby is getting attention from politicians. Keir starmer is quite a fan of visiting Lower League Football grounds and places he hopes labour can win. He was in gillingham in kent this morning, his deputy with him too. ~ kent this morning, his deputy with him too. , ~ , ~. , kent this morning, his deputy with him too. , ~. ,. Him too. Thank you. Whatever service eole him too. Thank you. Whatever service eole t him too. Thank you. Whatever service peeple try and him too. Thank you. Whatever Service People try and access him too. Thank you. Whatever Service People try and access these him too. Thank you. Whatever Service People try and access these days, people try and access these days, they find its like wading through treacle. , they find its like wading through treacle. ,. , they find its like wading through treacle. ,. , treacle. Red cards arent usually welc
Surprises. Any single shots we dont see coming, of course, well be done. Thats my interpretation of the decision in september. Well have more coverage throughout the morning. The governor is sitting here with me. That conversation is coming up shortly. Shares in ldvh is going down. And knova manyshares. And Israeli Forces on the ground ready. The death toll tops 2,100. U. S. President biden condemns it, supporting israel. Its an act of sheer evil. We stand with israel. We will make sure it has what it needs to take care of its citizens, defend itself in responding to this attack. Welcome, again, everybody, and welcome to street signs live from mary cash. Theyre debating the health of the Global Economy at these meetings in marrakesh, this following tuesdays release of the funds World Economic report which slashed growth forecast for the area in china while the u. S. Economy continues to be a bright spot in the Global Economy. Really happy to discuss this and more with the first deputy