Its not difficult to be crabby when you are basically living hand to mouth with government stimulus. I thought that encompassed the markets perfectly for a day like today. A lot of earnings coming out. Delta looking at a 50 cut in daily cash burn by the end of june. In terms of their First Quarter loss, they had about a . 51 loss , and revenue was down 18 year on year. As we expected, pretty brutal when it comes to delta. Baker hughes, oil services company, saying the outlook for oil and gas is certain. No kidding. The revenue down by about 4 year on year. 0. 11, acoming in at little bit light. Lets get you some of the headlines here. All of todays market moving news from new york, as will is washington. Brent crude getting sucked into the lowest level since 1999. Bloombergs part two thought to be role bloomberg spoke to thought he be role spoke to fatih birol. Some of the countries are cutting their production earlier than announced. Others joined them. If others do not follow the ste
Fractional moves overnight in asia. And now the latest on the coronavirus this morning. 1 Million People have now become infected. The United States is representing nearly a quarter of the world cases and the cdc is expected to advice all of americans now to wear cloth masks in public to stop the spread of the virus. Vice president mike pence saying that the new guidelines are coming in the next few days, this on top of social distancing rules. The Coronavirus Task force keeping close eye on louisiana, michigan, indiana, georgia and illinois as next potential coronavirus hot spot. In louisiana 26 of all tests are coming back positive. Connecticut being watched closely this morning. Covid19 fears growing abroad stranded crew ship. Princess cruise ship headed to florida today with several infected passengers, comes as a crew member dies on the celebrity infinity ship sitting off the coast of st. Petersburg this morning. Cruises finally dock at port everglades. Passengers will remain on b
Two hours, make it 3. 5 hours from now, without question the most anticipated jobs number in the history of the nation. This is the weekly jobless claims. It is expected to surge out. I put a chart out on twitter and linked and linkedin. It is just ordinary what we could see. David folkertslandau coming up. In a moment. Let me go to the tape right now, equities, bonds, currencies, commodities. Not all that much going on. A bit of a pullback, the dow two days in a row elevated off where we were in the grimness of friday, of monday as well. Also oil with a little bit of a lift off about it, francine. European stocks retreating with equities, government bonds advancing. I am looking overall at european sovereign debt. We are seeing a little bit of a move after the ecb scraps limits , a landmarkhases decision that gives an almost unlimited firepower to fight the economic fallout from the pandemic. You can see euro strengthening, tom. Tom it is an extraordinary time. Francine and i are tryi
Maria and we kick it off with Global Markets lets taken a look at european indices a selloff there as well. S p 200 down 250 points right now and paris down 165 and dax index in germany lower by 362. The European Union announcing the closing of its borders for 30 days to slow spread of coronavirus. In asia is overnight markets started with early rally on heels of wall street rally but then reverse course to finish in the red. Take a look at these numbers you have all of the major down better than 4 as you can see, the nikkei and japan and shanghai and composite 1. 8 and then theres oil. Oil prices tumbling touches levels not seen since 2003. As price of oil between russia and saudi arabia wages on demand is dropping oil prices right now at 25. 40 a barrel havent seen those numbs in quite some time. Check treasuries and yields right now on tenure treasury rising this morning once again, it is back above 1 . Tenure now sitting at 1. 8 that is up ten and a half basis points. The coronavir
We are answering your questions about the crisis from Small Business owners to individual investors, tweet me at cb payne, all that and more on making money. Charles stocks are down as effort to combat coronavirus taking a serious toll on our economy. I mean, losing 701,000 jobs in march, thats the worst monthly lost since 2007. The market held up better in recent weeks, but few folks believe that the worse is over. Get this, there have been 20 s p bear market rallies of 15 or more. How do we know if a bottom has been reached if any of the moves are higher temporarily and do we go back down. I will bring rob luna alicia levin. Alicia, let me start with you. This week i will figure out what the market did monday through friday for the last 3 weeks, i would argue they are probably up but the friday sessions have been reminders of just how dangerous this territory is and how much of the unknown is out there. How are you assessing it all . Alicia right, i think we can call coronavirus frid