Still hovering at just 16 a barrel in the futures market the ceo of the oil and gas Drilling Company pattersonuti energy will be here. That as another 4. 4 million of americans file for jobless claims in just one more week bringing the total to more than 26 million in the past five weeks. Its a stunning number well dig into it. Kelly, over to you tyler, thanks its been a volatile day in the market after the gilead report hit the requires about an hour ago. Lets get to bob for more. Kelly, i want to show you the s p 500. There may be conflicting reports about what it said the market viewed it as disappointing. T there was a very sharp drop in the s p 500. We lost about 35 points. Were now below 3,000. Thats a significant drop. Reports that the remdesivir trials were not good look at this exxon and chevron just keep chugging along although pretty low levels for them. I want to remind everybody how Many Companies withdrawing guidance theres many, many every day now. Today, we saw pulte, U
A long political stalemate in israel the Prime Minister signs a deal to form a unity government with the former opponent. We stand with you and we grieve if you. Canadas Prime Minister pays tribute to those who died in the countrys worst mass shooting as the death toll rises to 18. The World Health Organization is warning countries against loosening coronavirus long down restrictions that as governments in europe begin easing social isolation measures germany has reopened some shops and schools Nursery Schools in norway are also reopening to the Czech Republic denmark poland also lifting the shutters on some businesses but European Union Health Experts are warning the battle is fast. Over with infections nearing 1000000. 00 well india has partially lifted its lockdown allowing agriculture manufacturing and construction to resume that says the country reported its highest single day increase in new infections well Health Organization is caution countries the easing of what downs worldwi
Meeting to tackle the threat today. Nejra an emergency and shock move from the fed. Not just rate cuts but also 700 billion of asset purchases. The markets say its not enough. Take a look at the 10 year yields. We dropped as much as 30 basis points, down 27 right now on a 67 handle. Yields dropping across the curve and we are seeing flattening. The markets not responding well from what we have seen from powell. Dollar weakness. Morgan stanley saying markets are bottoming out so it is time to sell. You want to short the greenback versus the euro, the aussie, and the loonie. We are in the final part of a severe bear market. The bear market inequities that has been continuing in the asian session, a lot of red on the screen including japan. It is a lack of faith in centralbank ammunition. Have seen a lot of action throughout the night. The boj stopping short of a rate cut by talking about more stimulus in terms of etf purchases and a rate cut from the rbnz. Attention turns to the g7 call
Final day of campaigning ahead of tomorrows election basic resources outperform stocks amid information the u. S. Could push back tariffs on chinese goods. Credit suisse citing joongoi pressure and trade tensions. Good morning and welcome to street signs. We have a very busy show for you. The top story, the Worlds Largest ipo has made its debut saudi aramco shares have made its way 10 higher on the exchange after listing for 32 per share giving the company a market value of around 1. 88 trillion, we can round up to 1. 9 trillion, not quite 2 trillion lets go to hadley it has finally happened. The ipo has occurred the stock is trading and yet still shy of that 2 trillion number 1. 8 not that bad especially given the negative press weve heard. Rounds and rounds of pretty negative press it is pretty fantastic for me to see this not just having covered the kingdom for 10 years you about from the initial announcement in 2016 when the saudi prince made this part of the situation for saudi vi
Of expedia said there were strategic differences with the current leadership and the ceo and the fo are now gone cfo oregon. Down 3. 1 percent, the worst performer in s p 500. Higher,opean stocks are the pound trading north of 131 against the u. S. Dollar. We have a stronger rate against brent crudel, moving higher, up by nearly 4 in todays session. Opec is just around the corner. We will talk about that later on in the program. Lets talk more about the trade story, affecting markets over the last 24 hours. Economist is a senior , we have been jostled by the trade story. Todays story is maybe we are inching closer. The president talking about the idea that it can wait until after the u. S. Election. If we dont get a deal by the 15th of december, if we dont get additional tariffs what does that do to the Economic Data . I think the Economic Data improves beginning next year into spring if we can contain the current trade tensions. If we get a phase one deal before or after christmas tha