Best month on record in may, but brent and wti move lower in early trade. Amid talk, opec and allies will bring forward to the meeting this thursday. The uk government defending its decision to ease lockdown restrictions as more shops and primary schools reopen today, while the track and Trace Program is due to begin. A very warm welcome to street signs, everybody. Lets get into the top story of the morning. Protests around the u. S. Over the death of george floyd continue as increasingly volatile tensions between demonstrators and police leave many state capitals engulfed in violence. The issue has sparked a Global Movement as residents in london and berlin took to the streets in a show of solidarity. Well go live to minneapolis with our nbc news colleague jay gray to see the scenes on the ground later in this show. So, do stay tuned for that in the meantime, let me bring you fresh data coming out of europe this morning we have final may manufacturing pmis this is for the eurozone as
Hardpressed drillers . We will ask. Now we are quoting the next contract for june delivery. The price coming in at, where was it moments ago, what was it, 15, 16 a barrel. The president will fill the Strategic Petroleum reserve with up to 75 billion barrels. That helps storage capacity. But it makes no impression on collapsing demand which is at the heart of the oil price problem. A lot of people expect that that price, the one we see right now, what was it, 16, 15 a barrel, expect it to down from here. Well see. Stocks, theyre down in part because of the Oil Situation. Its another indicator of how badly the virus is affecting the economy. Investors not happy about the demise of Americas Energy industry. The dow will be down 500, s p, lets see, 54 points down and the nasdaq down about 82. A small loss in percentage terms compared to the dow and the s p. Well, the president s twitter account active last night, late last night. He called the virus the invisible enemy and said he would is
Markets pointing to lower opening. Major averages. Take a look. The nasdaq lower by 65, the s p lower lower by 34 after the markets rallied last week, the dow, nasdaq and s p 500 second straight week of gains with market up on the session as you can see about 2 higher on the dow industrials for week. Oil prices having a rough morning, take a look at this. Taking a steep dive as the coronavirus slams demand. Crude oil now at 13. 54 a barrel. Holding china responsible, questions are swirling this morning about the origins of the virus. Chinas lack of transparency. Congressman andy barr to investigate chinas handling of the pandemic. Mornings with maria begins now. Noble markets look like this. Germany taking a step with reopening the economy. Some stores. The white house is allowing some companies to delay payments of import tariffs if they can demonstrate significant financial hardship, tariffs on chinese goods are not included in the interruption of the white house tariff program. In a
Welcome back thanks very much for joining us this morning. I am maria bartiromo. It is friday, august 11, at 8 00 a. M. On the button on the east coast more questions surrounding thenvice president joe bidens controversial 2015 trip to ukraine. A newly surfaced is toh shows joe biden on air force two briefed by advisory who was apparently in connection with both hunter biden, and his burisma associates, this happening right before biden threatened to withhold one billion dollars in u. S. Money, if they did not fire the o prosecutor general Viktor Shokin investigating burisma. Even massachusetts senator Elizabeth Warren is asking questions expressing deterrence about hunter biden business transactions. I always worry about the influence peddlers in washington regardless of Party Affiliation we got to shut down the door he thickens rules that apply to everyone. She would not specifically address joe bidenp House Oversight Committee Chairmen james comer joined this program yesterday i ask
Better sales, higher profits from our Great American companies are why this market sometimes feels like you can buck anything. Dow gaining and nasdaq advancing 6. 9 to a new all time high even as the price of oil plummeted and the president s tax plan seems like it could be a real stretch to get through congress. First let me reiterate what i said all along about the markets doing really well. Not about trump or the tax cuts or the fed or the overall economy. Im not saying washington is a sideshow, not when its all over the front pages every day. Its certainly not the main event when it comes to stocks. After listening to all the president s men talking about their one page plan to reform the tax code yesterday i was a tiny bit hopeful something could get done even as im generally skeptical of congresss ability to accomplish anything. Then if you listen to the incredible squawkbox show at capitol hill my tiny bit of hope vanished. Listening to the democrats and republicans, thinking th