Seriously when you have such weakened trading volumes. In oil, a choppy session overnight after a big gap down sunday. The direction now depends on when the Global Economy will be able to open up, and that will be the indicator for all of the economic data, as well as risk appetite. Time for todays market moving news from our new york team. We begin with a historic price deal. Plus coming to an agreement to to cut minutes output. ,inutes after the deal was done the Saudi Oil Minister saying that opec is up and alive. With more is in reordering. What do we with more is annmarie hordern. What do we know now . Annmarie they were able to finally clinch this deal, 9. 7 Million Barrels a day. I would say that the main takeaway, goldman put it as historic, but insufficient, given how bad the demand loss is and how bad the supply glut is. These cuts of 9. 7 Million Barrels a day. We should also say that goldman puts it at 4. 3 Million Barrels a day, when you take from First Quarter levels, ass
Now youre here we want more of elk grove is the First School District in california to suspend instructions as it. Just goes south. Southern california and arizona coronavirus outbreak storm two will get a lot of rain but not members of congress are in self so much year, maybe san jose quarantined after interacting and Santa Cruz Mountains south, with a man who tested positive 40s and 50s on the temps and that is the system if it lifted for the coronavirus, senator ted cruz of texas and arizona northward i would say get ready congressman paul gossard said but as it is it is just not they are taking precautionary going to be close enough. Measures despite not showing we get outs further south but symptoms and they did both have contacts with a man at the conservative Political Action conference in maryland two if you are around monterey in san jose and down towards weeks ago who later tested positive for the virus but both resident have an Vice President gilroy in fresno so that is the
Eventually it is scheduled to dock at port of oakland around noontime today. 3500 people on board, some people have tested positive for the corona virus. There was some debate, ali, whether or not the port of oakland was the spot for the ship to dock. It was determine that had where itll come is indeed the port of oakland, not San Francisco. Thats because of the size of the ship and the size of the port of oakland, what it can handle. Oakland mayor raised her hand and said, yes, we rise to the duty. It also has a good proximity to Oakland International airport, which is where some of the passengers on board will depart oakland and Travis Air Force base here in the east bay and its important as we hear the oakland mayor and governor trying to assure oaklanders no one on the ship will come into daily contact with people on the ship. The port of oakland was selected because of the area that the ship can dock there and remain isolated from a lot of people. A good setup area and medical wor
And of austerity. The u. K. Prepares its biggest dose of stimulus in decades. It really is said to plan doublings doubling stimulus to combat the outbreak. President trump appears to a coronavirus conference. He was expected to announce a major stimulus package that he hyped himself the day before. And, taking a hit. Couldsays the coronavirus knock First Quarter quarter china revenue by one billion euros. We will speak to the ceo in just over a half an hour. Youve got some breaking news down there on the green from the bank of england. Anna absolutely, breaking news. Itsbank of england reduces bank rate. The bank of bank rates by 50 basis points. 20. 25 . A surprise rate cut from the bank of england. Just as we saw a surprise rate cut from the fed. Here we are seeing me seeing a great deal of cooperation theeen the fiscal side of monetary side in the u. K. Investments are waiting for an update, waiting for the government to respond to the coronavirus. We are also hearing about a Moneta
Event up there. Ive been talking to folks live on the internet, and texting and such, and it is going off up there. Heavy snow, chains on 50 and 80. Lizardlike conditions right now in lake tahoe. For us, we are just seeing a few scattered showers lingering. As that front goes through, this is what they are supposed to look like. The last three weeks have not been what we are supposed to be seeing this time of year. The system that went through today is a classic winter system. San leandro, that cell is producing some significant heavy rainfall as a crosses over by the colosseum and airport. I can sure you Oakland Airport is changing some things probably right now. It will be out of there shortly. Some areas drying out, scattered showers out near concorde. When we come back, well look at the models, and a chance for more showers. We are live in walnut creek after driving up mount diablo. Reporter heather and frank, we decided to drive back down from mount diablo while the light was stil