Economically but really to the health crisis. Is norancine, there question about the extension of the virus. The cases of the virus are rolling over, but i will tell you, if you look at it graphically, it is ever so slight. The dawning awareness here in the pandemic in the last when he four hours is a primal scream for testing. In the last 24 hours is a primal scream for testing. There is a new awareness that Going Forward we need testing, and that is not so much to get people back to work but to stop the job losses. Remember, we have jobless claims this morning at 8 30. Francine what you are talking about is two different tests, right . Both i hear more and more people calling for action, testing on whether you have covid and testing on whether you had it and have developed antibodies. Thats get to first word news in new york city. Lets get to first word news in new york city with evian hurtado. Viviana President Trump will a lack will talk today about whether to relax guidelines. He
Contraction than anyone realized , and the statistics on this pandemic are not all that good, are they . Francine now, they are not great. We have that horrific figure of 2 Million People infected worldwide, however we are seeing the u. S. , germany, and others thinking about relaxing the rules. It is different in japan where they are talking about a state of emergency. Today, overall the initial claim tally is said to push the fourweek total to 22 Million People without a job. We will spend time talking about that, and we have a headline from apple. I just got the air pods. Apple plans over a year headphones to bolster business working from home. Tom we have seen apple with product announcements including the smaller i found in the last lasturs, iphone in the 48 hours and they are separated from the collapse in smallcap. Right now, here is viviana hurtado. Viviana donald trump will unveil today plans to relax stayathome guidelines and suggests the coronavirus is flatlining in parts of
Call it. Netflix yesterday closing at an alltime record high. Oil a little higher as well, but still around an 18 year low. Still brutal for the market. Just checking in one more time they comec had before out. Time now for bloomberg first take. Here to discuss from our inhouse team of wall street veterans and insiders, michael mckee, and Damian Sassower. Mike, we know that jobless claims are going to be bad. We dont know how bad. I think the question is, how do markets actually respond to this, when sometimes they want to respond to bad data, sometimes they dont . Michael im not even going to go there. Yesterday we had dismal numbers on industrial and retail sales. We thought they were priced in, but apparently they werent. Youve got to wonder if weve priced in jobless claims because weve talked about it so much over the past three weeks, but we are expecting 5,500,000 as a consensus. If you get that number or even a little bit below it, we will have wiped out in one month all of the
Boris johnson and his house secretary. Spains deputy Prime Minister yesterday. Huge number of cases in the u. S. 22 states now under stayathome orders as 50 of the u. S. Population is meant to be abiding those orders. Down to 73 basis points on the 10 year yield. Crude back down again. 21 point 49. Canadian dollar weaker by about 7 10 of 1 after the bank of canada reduced its Interest Rate to 25 basis points. The Prime Minister selfisolating over here, the Health Secretary selfisolating. We are all selfisolating. The brown story in the market is done and dusted. We go into a weekend where traders do not want to take risk. Terrible numbers overnight out of spain. U. K. Numbers continue to climb. Numbers around the world of those infected and the fatalities continue to rise. That story is now taking over from that meal a we focused on so much over the last couple of days. European stocks at session lows, approaching that 300 mark with a bid back in the bond market. 50 in the german tenye
But the leadership of mount sinai, new york presbyterian, new york confronts 599 deaths yesterday. Us thatis just telling spain actually showing increasing deaths moments ago. I think you are going to see a little bit of dispersion in the data daytoday. The u. K. Has had a couple of days when the death toll has come down, but i think there will be some degree of variance, particularly as it shifts its epicenter in terms of the regions it is affecting. In the u. K. , the epicenter is moving to birmingham. They are looking to get another hospital up. Which, we are may be going to see spikes and troughs when it comes to the data. The story of the data is dominating dominated by what is happening over the river where the Prime Minister is still conscious but receiving oxygen. Dominic raab, first secretary of state, and the foreign secretary taking over the role of Boris Johnson. He will have to maintain consensus in cabinet, a difficult time for the u. K. There is in creating increasing ch