Holidays, keeping schools and restaurants closed. Stayathome orders will remain in effect with government outside only allowed with government permission. They have had 3000 deaths, most in the past month. Political president alliance is a sweeping victory. The races were boycotted by opposition politicians and criticized his be fraudulent. Has beennal assembly led by the man trying to oust the president for years. He is backed by washington and others who consider the presidency illegitimate. Global news 24 hours a day on air and on quicktake by bloomberg. Powered by more then 2700 journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. It is 1 00 in p. M. And 2 00 a. M. In hong kong. I am vonnie quinn. U. S. Hospitals facing breaking points. The realities of running out of room to treat patients may be approaching. We talked to Northwell Health ceo michael dowling. Frexit on the brink. Talks over a tree deal with the European Union in breach. Negotiatio
Indices were down 2 . Right now the dow is down. 9 . Before some tech earnings, the nasdaq up a quarter percent. A lot of movement in oil. We will be speaking to paul sankey about that. The 10year yield down to 55 basis points. Just to show you that it is Consumer Companies like procter and gamble that are helping the market recover a little bit today, that index up 1. 9 . People cannot do without their necessities, as long as they have the money to buy them. U. S. Economic data showing gdp shrinking at a record pace. 17plus million americans applying for ongoing benefits, which necessitates the need for more to be done. Lets bring in narayana kocherlakota, former president of the minneapolis fed. He joins us from rochester, new york. Talk about the dire Economic Data this morning and what it tells you about whether even the minimal reopening that we are doing is helping the markets more broadly. Narayana thank you for having me on. The numbers were certainly eyeopening. 10 fall transl
Earnings from continuing operations was just 0. 10. Terrible numbers from certain sectors. Iously, retail search obviously, retail front and center. Market, kind of a mixed bag. Terrible data, yet equities tried to stage a rally earlier. Now futures flipping into more negative territory. Definitely the eurodollar and dollaryen are two to watch today. The yen was significantly higher thats butt all dies all eyes really on retail data later. Lets get some more market moving news from our new york and brussels teams. We want to start in the u. S. , where we are expecting more of that dire economic data. Many nonessential stores are closed. We also get Industrial Production. Michael mckee, International Policy and economics correspondent, joins us now. Michael i will give you guidance for the year, dismal. It is only a question of how bad they are going to be. Retail shrank by 8. 7 in march, when things were just getting started. In april, americans spent all of the time at home, not going
Global virus infections tops 2. 5 million with more than 175,000 deaths. U. S. Cases climbed 5 . Their biggest increase since april 10. Its get you started when it comes to the state of trading in asia. We are setting up for this wednesdays session. Sophie kamaruddin in hong kong for us. Sophie we are seeing mckay futures edge slightly higher with s p eminis expecting more eruptions in the region after asia was led lower by india on tuesday. Earnings adding to that drag. The yen just Holding Steady in the face of a stronger dollar, which is trading at a twoweek high and gold just resuming gains with spot prices up 11 this year and bank of america is bullish on bullion, raising its cold 18 month target to 3000 an ounce. Moving onto oil now, wti for june back above 13 a barrel after slipping below 10 in the new york session, which was pricing weakness in the front month contract. They are allowing for negative options to be lifted from april 22. We are seeing the Oil Forward Curve shifti
Delivery of 7 . Look how we are in terms of the major indexes. Asian markets, most in losses tracking to 3 drop on wall street overnight. Opened slightly earlier love earlier. Slightly lower earlier. We are watching petrochina down at this point in time. The hang seng, down about 1 . Kong announced an expansion of its restrictions aimed at curbing the spread of covid19. That would weigh on the economy even more. The sti, down more than 3 . This is a market that returned to bull territory recently and citi said investors are pricing in post recovery. Singapore reports higher cases, more than 1000 for the second day running. I want to dial back to the oil story because we see oil moving to the upside after two days of unprecedented action and a spectacular selloff. Opecplus ministers holding an unscheduled conference to discuss what has been going on. The closing statement signals there are no new measures planned at the moment. Lets bring in mliv asia editor. Oil is on the up. We had tw