Too soon could have dire health and economic consequences. There is a real risk you may trigger an outbreak you may not be able to control which will set you back load on the high seas warns container volumes may fall as much as 25 in the Second Quarter. How the virus will hit global trade. Protectionism is a key risk and getting bigger as part of this pandemic as countries saw trying to protect their businesses it is no doubt in my mind it is the wrong strategy the french group pulls out of the take of the bermuda based partner turning shares sharply lower. The uk economy contracted a record 5. 8 in march Economic Activity in the First Quarter slank 2 output in the services and output fell sharply but not as low as expected. Retail sales plunged 19. 1 as the lockdown weighed heavily on the sector it is the biggest monthly fall since the brc began the index in 1995 weve been looking at that data but we know there is worse to come in the Second Quarter when we warn the contraction could
Nice to be back. Checking in with Steve Paulson it is already hot. Steve. It is not your kind of day, pamela. No its not. By tomorrow things cool down. Frank, always a pleasure. Whats good to it. Clear skies and today is the hottest day no doubt about it in the heat advisory kicks in at 10 00 a. M. And goes until 9 00 p. M. And the days are very long. A couple will be pretty toasty in temperatures continue to be well above average today and even most of tomorrow. It is 67 in san jose and oakland in livermore 64 degrees. San jose southeast at three and 67 warm degrees and look for highpressure to kick in and went out today is a system will work its way in but not towards tomorrow. This will be the hottest day by far. Temperatures pumping up for most locations and highs today in the 90s to 100 with this being the hottest day of the week. Read it and weep or enjoy. However you want to look at it. I dont think this man likes that hot of weather. We say good morning anyway. Good morning, st
To disneys streaming kit abilities. Disney is down 1. 7 now. Guy here in europe, it is unsurprising we are seeing a reversal. Marketse peripheral really taking it on the chin after the rally we saw yesterday. The stoxx 600 down 0. 8 . Byrids overbite is down over 3 . You are continuing to see a bid on btps, which is fascinating. Massive move yesterday on the plan announced out of paris and berlin come up in chile to allow burden sharing in europe. A huge rise about in jobless and the u. K. That makes you wonder what happens when some of the Government Schemes start to roll over, and potentially millions market added to the unemployment roster. It is a very disturbing number to have to deal with. We do have some news on paris, potentially providing some clarity for the post frexit u. K. Thein the postbrexit regime here in the u. K. Vonnie fed chair Jerome Powell and the treasury secretary testifying before congress. We will bring that to you when it happens. We got numbers from kohls an
Levisohn, carlton english and al root. So, ben, the market started off the week fairly happy about some comments by Jerome Powell, about this possibly great news from no no moderna on a vaccine to, and it managed to stay resilient through the week. Yeah, it really was. The news on some fronts wasnt great. Economic data was bad, new tension with china. But then you look at this other stuff, you have the vaccine from moderna, the data was from a very small subset, but it does look like vaccine is working. At least in this small group of people. Its going to take a long time, but it sends the message that the science out there to at some point get a vaccine, get more treatment, get the coronavirus under control. Were also seeing reopenings of economies across the country. New york is supposed to open in june now, connecticut is going to do some reopening this weekend with restaurants, and its a big thing. And even where there have been some hiccups along the way, were not seeing economies
Root. So, ben, the market started off the week fairly happy about some comments by Jerome Powell, about this possibly great news from no no moderna on a vaccine to, and it managed to stay resilient through the week. Yeah, it really was. The news on some fronts wasnt great. Economic data was bad, new tension with china. But then you look at this other stuff, you have the vaccine from moderna, the data was from a very small subset, but it does look like vaccine is working. At least in this small group of people. Its going to take a long time, but it sends the message that the science out there to at some point get a vaccine, get more treatment, get the coronavirus under control. Were also seeing reopenings of economies across the country. New york is supposed to open in june now, connecticut is going to do some reopening this weekend with restaurants, and its a big thing. And even where there have been some hiccups along the way, were not seeing economies have to close up. Cities and sta