Oil price crashed below 0 and then kept on going into negative territory our economics editor abby dallies in london he says the glut in oil supplies is a global problem that needs a coordinated multinational response. Theres more than 35000000. 00 barrels in circulation which out which which are not useful to anybody at this present time and so we need to figure out how to get rid of those 35000000. 00 bows that would mean russia United States and saudi arabia shutting down production but thats not practical because if you shut down press corps you can damage wells so it needs a collective help from from everyone around the world the other thing that the United States can do is rig is that off the Strategic Reserve to allow corporations to actually store away their oil in those corporate in those that are in the Strategic Reserves and thats something that were going to consider and the u. S. Is also considering haint Oil Companies to keep oil in in the oil wells so that they dont pump
Online more Central Bank Action from japan helping fuel the bulls and despite all of that, oil plunging again, down more than 20 as we see one Energy Company file for brankruptcy. Ahead on todays show, were taking a deep dive on the path forward for retailers. That sector deals with the fallout from the lock down well speak with about the issues facing the industry and be joined by former macys ceo as Department Stores deal with their own challenges and bankruptcy concerns swirl around the sector were up 5 on the s p with 59 minutes left citigroup is up 8 still down 42 year to date. Lets focus on the big stories were watching today mike is is tracking the market moves. Meg has the latest mike, lets kick it off with you and the broader markets. After about two weeks of going sideways, the s p 500 gets a little bit of a boost today to basically the levels it saw at the post crash highs of ten days ago. Take a look at how it fits into the broader picture here 2874 is a number that we firs
Demanded the director of the centers for Disease Control walk back his warning about a 2nd wave of coronavirus uncomfortably robert read thiel did not do so disputing the headline about the initial interview but confirming he had been accurately quoted i didnt say that this was going to be worse i said it was going to be more complicate our more difficult and potentially complicated because well have flu in coronavirus circulated same time. The president sought support from another of his medical experts dr Deborah Burkes and been very original this is years ago they will know. We dont know if its a small confined here or there we put it but 8 i think the great thing is will be able to find it earlier this time and i think thats what were talking about well find those cases earlier so what dr redfield said we would be able to stay in containment face president continue to push back against potential future threat and an answer to a reporters question argued the virus may not come back
It would be wrong and unjust for americans laid off by the virus to be replaced with new immigrant labor flown in from abroad we must 1st take care of the American Worker take care of the American Worker the u. N. Is warning that both a quarter of a 1000000000 people could be pushed to the brink of starvation by the pandemic the World Food Program says countries need to take immediate action or risk multiple famines. As some European Countries gradually down restrictions the picture is quite different in the u. K. But the death toll is still rising if our reports. An intensive care unit in scotland. Where the youngest to test positive has only just been born. The medics here are traumatised by what theyre dealing with. 2 or 4. The. Amount of research by the office of National Statistics suggesting the actual death toll in england and wales in early april was 40 percent higher than the number reported by downing street those daily government figures dont include deaths outside hospital
A pathway back to normal life. But in other parts of the u. S. The scenes a very different across the country a small but growing protest movement is calling for restrictions to be eased from utah to wisconsin in both republican and democratic led states people are taking to the streets urging a return to normal life we are still a free country at least for now and people have to make a decision and thats their personal decision if they dont want to be 6 feet apart or 7 peter peter parker i cant i cant dictate to that to them despite declaring that individual governors are in charge President Donald Trump seemed to encourage the protests in a series of tweets on friday all 3 states have democratic governor has his tacit support is seen as deeply political in a time of crisis i know is there a lot of protests out there and i just think that some of the governors have gotten carried away you know you have a lot of people that dont have to be told to do what theyre doing theyve been reall