Are doing here and why we are doing it, this is part of an ongoing series sponsored by the center that historical current issues. The center itself is strictly nonpartisan and the purpose of the program its not to advocate for any particular policies, but to provide Historical Context helping inform policymakers as they deal with difficult issues. I want to thank or acknowledge the Financial Support of the mellon foundation, which makes this briefing possible. I also want to thank regional weekly in the back of the room, which is the assistant director that helped organize this. I want to thank the office of gerry connolly, and also alert you to the fact that you all have index cards on your chairs. This is for questions. As the presenters are speaking, feel free to jot down questions. We will collect them. The second half will be devoted to q a. We will collect the questions and go from there. Thank you all for coming. David . Good morning. Thank you for coming. I have been Teaching I
The economy as early as next month. Almost 2 Million People have died worldwide. The imf and world bank prepare to meet amid the most down the worst downturn since the 1930s. The new reality of collapsed trade and mounting unemployment. Oily we are seeing reversing gains as much as a percent at one point in london. 25 , sames now down for wti. We had the reduction coming from opec and its allies are that would have been the sickest single largest in history. Goldman sachs but says it is insufficient. U. S. Futures gained at the open, reversing earlier prices. The nikkei futures also down 1 . We have markets closed on holidays including australia and new zealand. Global cases also affecting sentiment in the markets. Those cases rising towards 2 million with the United States the epicenter of you break after fatalities in the country surpassed italy. There are signs of optimism in the hotspots like new york. Lets bring in Sophie Kamaruddin with the latest. We have seen President Trump. A
Californias shelterinplace ord order. This will go to the obvious questions and queries that all of us are asking, when. Well, when is the big question. Abc7 news news anchor liz kreutz gives you some insight. Its the question were all asking, when will california reopen. There is a lot of anxiety and a lot of need to know. Under public pressure, some states are already beginning to ease their shelter in place orders. In south carolina, some department and Retail Stores opened today, with 20 capacity. Public beaches opened as well. In georgia, starting friday, gyms, barber shopping, bowling alleys, some restaurant and some theaters will open. Next week in colorado residents will be recommended to stay home but not required to. And in tennessee and ohio, a majority of businesses will be allowed to reopen may 1st, if not sooner. We need several things to unwind the current lockdown if you will and get people back into the public arena. As much as possible. One of those things that expert
To discuss this and more im joined by my guest Dmitri Bobbitt in moscow hes a political analyst and editor of you know smee media project and glenn beason in oslo hes a professor at the university of southeastern norway as well as author of russias geo Economic Strategy for a greater eurasia original macross up rules in effect that means you can jump any time you want and i was appreciating lets go to oslo 1st glenn we have this pandemic ongoing and we have been in crisis in the Energy Markets and its easy to conflate the 2 and one in the Energy Situation in the markets has gotten worse as a result of this pandemic but they are very separate things and i would say right off the bat that this is the result of disastrous policies particularly by the United States using a series of tax breaks sanctions and really just unprincipled market behaved. Or to try to support American Energy companies and its all blown up in their face and a pandemic is made even worse and i dont think theres any
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