Migrant workers desperate to return home protest as im on my Railway Station after india extends its knock down and. Get past yourself and think about society. New yorks governor accuses donald trump of spoiling for a fight as the u. S. Death toll passes 25 pounds and. The huge cost of the coronavirus pandemic to the World Economy has been laid out in a dramatic prediction from the International Monetary fund it says 9. 00 trillion dollars is set to be wiped off the value of global output this year and next as the global lock down stops work and could create the biggest recession in almost a century in india hundreds of Migrant Workers who lost their jobs with charge that by police as they demanded to be allowed home after the lockdown there was extended new yorks governor has dismissed President Trumps claim that he has total thoresby over governors to reopen state economies another White House Briefing is expected soon but in europe the past day has seen a little more normality retur
Than 2 , that would be breaking the streak again today. We are seeing Dollar Strength continued to climb and crude is up 3. 5 on news we expect saudi arabia and russia to try to get together to figure out how to cut back some of that supply. Flipping up the board, i wanted to take a look at the residential market, in particular rates we have been looking at. Ellington Residential Mortgage rate is one i am looking at. It is up 50 verso. It is having its biggest intraday gain ever. It did provide updates on its portfolio and business operations, which is giving investors a relief. They did come out and say they have met all of their margin calls. They lowered they lowered their leverage position to a strong liquidity position. There is a lot of focus on the commercial mortgage and the residential market, how this would fare. Today people are less concerned about the health of the mortgage market. David . News. I like good to what extent is some of the lift we are seeing inequities Short
Sectorsre your main leading the rally today. We should mention this is unlimited volume as well. It is up 11 . In the case of the dow and s p lower than it was a day ago. Passover begins tonight. We might see limited trading. Friday is a public holiday. Monday there might be people off. Jay powell is speaking, and that might provide some catalyst for market pricing. Romaine joining us is christina from invesco. ,hen you look at these rallies it is an encouraging sign, but the market seems to be very focused on the virus data we are getting, the number of deaths and what is a decline in the number of new cases in certain regions. The market will start to focus on little less on the virus count, and focus more on the economic numbers, corporate profitability, the more traditional metrics, and is it going to matter knowing that we know it is going to be bad . Kristina that is the point you are making is right. It is going to be bad. The market is likely not to focus on it which is the rig
Well china for instance reporting an increase of cases and u. S. Officials warning this week will be the toughest yet as hospitals struggle to maintain and eck up and down their capacity. Coming up on todays show, blackstone is donating millions of dollars to support Health Care Workers and First Responders in new york well speak to the ceo about that and his thoughts on this volatile market. Plus, well be joined by the ed of the transports union. 59 minutes left of trade. Lets focus on the big stories we are watching nowful meg with the latest on treatments for the virus. Peter from canter fitzgerald is here with us to talk b about the volatility in the oil market in particular, but first, mike, want to get your take on todays rally and where this puts us a pretty crisp rally, cant argue with that. Where it takes us is one of the most interesting things. A oneyear chart, 26. 30ish on the s p 500. Its exactly where we closed on march 30th so you remember that was that big three day ral
New york City Real Estate will join us to tell us how he sees landlords managing renters who have shut down their businesses. The chairman and ceo is scott recker, he will be joining us. And judge will be here as well taken us through unique coronavirus cases going through courts. In the meantime breaking news, Drugmaker Mylan is voluntarily waving the u. S. Distribution rights for a generic version of an hiv antiviral drug so its available to patients with coronavirus. The stock is down, it allows other generic drug makers to apply for u. S. Approval as well, we will keep you uptodate with those headlines, i just wanted to bring you the breaking news. Checking in on the retail sector, walmart one of the biggest loggers on the dow, investors are pivoting away from stocks seen as recession proof and target lower despite a strong report on sales trends withdrawing earning drawings and nike, sports versus China Business has come back, it is about 50 of the revenue from china, ross stores,