Basis points. Lets get to our guest now. We have a very fascinating guest right now. Ed hyman, Institutional Investor economist of the year for decades. The surveys he carries out are unparalleled in the industry. We are going to talk about Central Banks, the ecb, and the fed meeting this week, and the bank of japan coming out with some decisions today. Chairman of evercore isi, is with us now. Small and mediumsized enterprises, and companies that do business is with china. Obviously, the data is falling off a cliff right now, but in your estimation, what will the severity of this recession be in comparison to, say, 2008 . Ed much worse. But this is a very interesting time for me. Ive probably been the most bearish person on the street with our gdp numbers down 50 , and like you say, things have been kind of freefall, Company Surveys included. I just wanted to share with you that for the past two weeks, our surveys have increased a little retailers and restaurants. The checks that were
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
The economy, pretty much at a dead stop until may, maybe longer. The market is looking to the other side of the virus problem and surely welcomes more financial help. However, stocks are ending the worst month since 2008 and the dow will open lower this morning, off maybe 140 points. Similar story for the s p and for the nasdaq. A down opening bell today. The price of oil, well, that remains at depression levels. This morning we are in the low 20 per barrel and the average price of gasoline, you got to look at this, the National Average gas price has dropped below 2 a gallon. 1. 99, thats your number this morning. The price is dropping about two cents a day but so what . Demand has cratered, the roads are empty, and few people are taking advantage of dirtcheap gas. Now, this caused a stir yesterday. The u. S. Navy hospital ship arrived in new york and was greeted by crowds of onlookers. They were breaking social distancing rules. Those people who were holed up in their apartments and h
I will use another strong word. Panic. That is justified. Late yesterday, panicked investors drove the dow down 1191 points. Thats the biggest oneday point loss ever. Okay, thats the backdrop. Now todays reality. The dow at one stage early this morning, futures were down over 600 points. Right now we are down over 400 points. The s p down 50. The nasdaq composite, way down, another 2 lower, off 166 points. Today on this show, we will ask when do we get a rebound . Where are the bargains that longterm investors might go for . Now look at this. This, what you are seeing, is a worldwide rush to put money into ultrasafe u. S. Treasuries. The yield now, 1. 19 . At one stage earlier it was 1. 16 , an historic low. That is a classic flight to safety. Heres what happens when the Global Demand for oil falls out of bed. Sharply lower prices. At this moment, we have got, what, about i think its 45 per barr barrel. That is on the price of oil. Thats the latest on the market action. Now the latest
Life on 9 11. Rick earned the silver star and the purple heart for his service in vietnam. He later became the Vice President for security at Morgan Stanley in the World Trade Center. On the day of the attack, rick died while leading countless others to safety. His selfless actions saved approximately 2700 lives. Today i am honored to announce that we will soon be awarding rick the president ial Service Medal for his extreme area sacrifice. Though for his extraordinary sacrifice. Though rick has left this earth, we will ensure the memory of his deeds will never, ever be forgotten. His memory will forever indoor. Will forever endure. Thank you. Thank you, rick. [applause] pres. Trump thank you, rick. Here on the western side of the pentagon, we saw brave men and women rush into the fire and race into the scorching flames to rescue their colleagues. When people seeks to do us harm when people seeks to do us when evil seeks to do us harm, the incredible men of the the incredible men and w