You. Lauren you know what . There is a lot going on today, wall street, bottom line, connell is reacting to the reality march is prequel for april and the numbers will get worse. Lets start this morning, retail sales last month, they plummeted the most on record even though stores were actually open in the first half of the month. The National Retail federation expecting more than six million jobs lost. Look at some reaction. Jcpenney now exploring bankruptcy. Best buy furloughing 51,000 workers even as online sales and Curbside Pickup surge there. Amazon up 1 , hitting another record high. This is a sign of the times. Shoppers continue to get what they need from the comfort of their couches. Also wanted to show you guys oil prices. They hit an 18year low. People around the world stay home. Theyre not driving. Oil inventories rising by the most ever last week. Take a look at this. March Industrial Production fell the most since 1946. Measure of factory activity in the epicenter of coro
Provisions in a decade and a vote on the virus. South korea heads to the polls in an election seen as a referendum on president moons pandemic performance. Shery we are seeing qe stocks gaining ground again, now at the highest level in over a month. And this after the u. S. Really finished at a one month high for the s p 500 jumping. We had gains in tech giants. U. S. Futures at the moment under pressure, down 1 . Nikkei futures not doing much right now. We have the japanese yen Holding Steady but this after four sessions of gains. We had safe haven demand as we continue to see concerns of the coronavirus outbreak. Wti at the moment rebounding after plunging more than 10 in the u. S. Session to the lowest level in two weeks. This despite that historic opecplus agreement. Closedave south korea today for parliamentary elections. Happening right now, President Trump having his daily coronavirus presser. He said that he hoped u. S. Funding to the World Health Organization failed in its bas
Its 1st cautious steps out of lockdown with some businesses reopening class. Get past yourself and think about society new yorks governor accuses donald trump of spoiling for a fight as the u. S. Death toll passes 25000 and. Migrant workers desperate to return home stormer red with station in mumbai after india extends its knocked down. Below the huge cost of the coronavirus pandemic has been laid out in a dramatic prediction from the International Monetary fund it expects global output to shrink by 3 percent this year which may sound small but would be the worst year since the Great Depression of the 1930 s. This equates to a 9 trillion dollars cut in world production this year or next to last greater than the combined g. D. P. Of germany and japan italys economy is expected to be one of the worst hit shrinking by 9 point one percent they are methinks less developed economies will fare better latin america is being warned to expect a comparatively small 5. 2 percent drop and theres ho
[no audio] click select look at the white house rose garden where President Trump will be briefing reporters on the coronavirus response. We expect Vice President pence and members of the task force to also join the president. The briefing was supposed to start at 5 00 p. M. Eastern but as you can see, it is running late. Until we see the president , here is a portion of todays washington journal. Continues. From batonng us rouge is retired Lieutenant General russel honore, former commander of joint task force katrina, here with us to talk about the Current Crisis and the administrations response and his states response. General, pleasure to have you with us this morning. Thanks so much. Guest good morning, sir. Host tell us about on the ground in new orleans and louisiana, very hard hit by the coronavirus. How do you view things there . Guest well, it is kind of a study state the last couple of days, but we still have a lot of people who are losing their lives from the coronavirus. Of
Honor of introducing our event today where were going to discuss not only ganesh, his incredible book, but also the animus that really brings it to life. This is the latest in columbia series on markets where we discuss problems, political economy and how to solve them. I want to start by noting that his book is brilliant, and its brilliant because. It touches on problems that are so implicitly obvious to all of us. Im sure everyone in this room has felt frustration. An airline categorically. It feels like air travel has somehow even worse. Were offered less space and stuffed amidst more seats. Were given less food and charge, more fees. Were extended longer delays and offered less destinations. Everything that should have grown has shrunk and everything that should have shrunk has grown. Our planes have inverted and too often it feels like were flying upside down. And these problems with Civil Aviation emblematic of larger problems with our own country all over our infrastructure feel