On united. Lower after reported earnings. United losing 1. 8 billion in the third quarter. Thats not a surprise. Everyone knows what has been happening. The numbers were a wider loss than estimated revenue fell 78 , coming in shy of expectations at 2. 48 billion. The metric everybody is focused on is the daily cash burn. They were losing 50 million a day at the end of march. They brought it down to 40 million for a daily cash loss. Bring it down to 25 million in q three. Their core cash burn comes down to we heard delta say we think we will break even in the spring united is not addressing that. We know that will come up tomorrow i suspect that united will give guidance liquidity. The company is stressing it believes it has the cash on hand to get through the pandemic. No one knows how long this will last, how long the airlines will be down, a year and a half or two years. But united feels it is positioned welcoming out of the third quarter. We have an exclusive tomorrow morning on squ
About President Trump and congressional republicans. I guess you are getting that body language from Mitch Mcconnell. But why is the bond market moving . We are at 0. 83 on the 10 year yield, the steepest back to march of 2018. We are pricing in stimulus at some point. Jonathan through 80 basis points. Wonder if, off the back of a move in treasuries, people start to talk about reflation all over again. Lisa i dont know that the underlying data is really supporting that. We will get a read at that with iea crude oil inventories. A report yesterday showed a surprising building u. S. Inventories. Many people are not consuming as as the covid crisis continues to spread. Meanwhile, today, i know you guys care a lot. We get a lot of fed speak. Weve got loretta mester, neel kashkari, tom barkan, randy quarles, and jim bullard all today. Every day it seems like they speak more and communicate that much less. We are going to hold rates low. The question is just the threshold to further stimulat
Down to test new lows. One in 3 8 percent. It is much lower than this. You could still get another 25 basis points. Adding to 1. 25 . 1 on tenyear treasury is not impossible. Potentially all the way down to zero. That downside economic scenario if the economy is weak and the leading indicators do point to that scenario. We and the rest of the world are going to own long government bonds. Bond bears are dead. Joining me are kevin of Raymond James and Scott Kimball of the mo. Lets start with you, do you agree that there is no lower bound, let the basement be the ceiling . I think seriously the data and in terms of creation we are going in that direction. There is going to be a limit in terms of how crowded it will get. I think we are getting to that stage in the next 25 basis points or so. Limit and howa terms of how low they can go. The conversation around negative nominal yields in the u. S. Up on would have to give the fact that the u. S. Economy has not found its way to a recession y
Affects sanctuary cities. I am trish regan. Welcome, everyone, to the intelligence report. President trump says his immigration order is about keeping america safe and keeping Illegal Immigrants out of the country. We are a country after all; right . And a country actually has to be able to enforce its borders. But you know what . The left, they have corrupted all of this for political purposes. I have to assume its only political purposes. With all of these liberal mayors out there reducing to cooperate with immigration officials, reducing to uphold our law, even if it means theyre going to lose their federal funding. I mean, its crazy to think about. And then you get this. A Democratic State lawmaker from massachusetts tipping off Illegal Immigrants in her district about a possible ice raid and how to avoid getting call the. Weve got all the details on that for you. But first, lets go to fox Business Correspondent doug on the latest of what happened at todays big meeting with mayors
Right now. At todays low, we were down 1600 points for the year for the Dow Jones Industrials. The biggest declines in 4 1 2 months, on both the dow and the s p. So what happened overnight . Chinas slowing economy tripped up stock market, the shanghai index tanked another 3. 6 , that in turn led investors to believe that the second largest economy will not be consuming as much oil as it has in the past. Theres already a massive oversupply, a glut of black gold but china stumble coincides of the sanctions on iran. The rogue nation will be free starting monday to start spilling its excess oil supply into the Global Market. Its the recipe for a Global Market selloff. Thats whats playing out right now. No surprise, oil is taking most of the punishment settling below 30 per barrel. Were there at 29. 42. As we trade in the aftermarket session, were going to keep it on the lower band so you can watch it every step of the way. The market suffering, moving in lock step with oil, that trade has