Fed set 2022 and what the chairman will say and what i assume will be a Virtual Press conference today. Ofncine we will have plenty market action. We will look at the markets every 15 minutes, including what is happening in treasuries. We had the oecd coming out with their economic outlook. That was released about an hour ago, and the oecd, it is a smarter way of doing it, tom. Forecasting the pandemic would cause a Global Economic slump of 6 here, but if there is a second wave, that becomes a seven point 6 slump. It is a good way of visualizing percent comes a 7. 6 slump. By thewas taken aback differentials between the bar charts of europe and the United States. I did not have in my head how much worse the guesstimate is for gdp decline in the europe verses in the u. S. It is a very good report. Francine it is also because of where europe was in the economic cycle. Lets get straight to first word news in new york city with ritika gupta. Ritika good morning. A warning from jeffrey gund
Own hopes and dreams. Because you know about driving. It was a favorite among the fans and a star of a german comedy movie thats what made it a cult car was good as well as the box of jokes thats got to go in one ear and out the other. Its heyday is long. Prince charles proud to be in the above all. Else is a measuring legend of a rather special comes. A movie called man to man made it famous into anime every character in this was a case a. Even the souped up. This one is a replica of the mansion in the 991 motion picture. And to be a saab it was chasing a dream when he did take me to the original the movie gave the man to reputation it would never shake nor would its drive its eyes it they were made out to be news this was new movie brainstem taste so bill has no problem with. The mungo and i always liked the montage and old girls in general and bettys car from mt to mt it was the ultra monta also made fulfillment of a tuning up your montanas through. The moment i saw it i knew i need
Gilead sciences, as you heard from maria, positive news from a government trial of their remdesivir and also from two of their own trials. Positive news on a treatment. That sent futures straight up earlier this morning and look at the stock, also straight up, 6. 8 . Thats the effect of this effective trial of remdesivir. Up go futures, up goes gilead stock. More on this in a moment. A second reason for the dows gains, investors expect a strong recovery for the economy starting in the summer. The market always looks to future conditions. Theres a third reason. The Federal Reserve is likely to say today they will do whatever it takes to stabilize your money. Wall streets expecting more stimulus. The dow will be up close to 550 points at the opening bell, close to 2 . The s p up 2 . The nasdaq solid indeed, up over 2 . We had boeings numbers out this morning. Continuing problems, but its cutting 10 of its work force and investors like that. The stock is up nearly 6 . Okay. More on all th
Next for oil stocks kiging off in the red theres more than 750 cases 5 750,000, i beg your par doon well talk about that and more as we kick off this hour we kick it off with the markets in terms of Stocks Holding steady as energy is in a free fall. Its the story of the day. It will be the story of this hour lets get to bob with the set up for these markets. Bob. The important thing is we are well off of the lows. Industrials weak Consumer Staples are weak. Were not getting any bounce at all from those defensive plays that done so well for us in the last several weeks like proctor, cocacola. Not much energy there today. One good piece of news, the banks after a rather rough week, the etf bouncing about 6 from its high to low. The key regional banks are trading up most of them were trading to the down side. Finally, just on oil, had a lot of inquiries about uso and all these oil efts want to remind every one they own oil futures. Either the front month in the case of uso they tend to ro
A full lockdown and warns time is running out to contain the virus. Almost right for plucking a straight in farmers fear their fruits will rot they cant get enough workers. Into the sport as the premier league clubs announce they will not consult with their players about taking a 20 percent 30 percent a bigger part in pay cuts to help in the fight against the Global Health crisis. So that the United Nations says 70 countries thats more than a 3rd of the world have endorsed its call for a global cease fire as corona virus spreads at an alarming rates around the globe warring parties in libya in syria in yemen and 8 other conflict zones say theyre willing to lay down their arms the u. N. Chief warns a lot more needs to be done. There is a huge distance between declarations and deeds between translating words into peace on the ground and in the lives of people there are enormous difficulties to implementation a scornfully to fester for years distrust these deep with many spoilers and many