We are waiting for that bricker hughes baker hughes breakdown. We had six straight weeks of declines. On a decline coming into this week. Total rig count is 408 according to baker hughes. We are still waiting for some of the oil rigs specifically to come in. When we get that data, we will come back to that. You can see crude prices are up 3 . Overall in the last five days, the Energy Sector has been a pretty poor performer. Performer today but still on track for six week of gains. It is the best week going back to april 10. The largest of streak you have had since may 18. You are getting some of that rig count data falling to 408 rigs. I want to look at the canadian dollar. Getting some weakness relative to dollar strength. Bank of canada named a new governor, going back to a veteran who led in the 2008 crisis. Finally, it is all about the individual stocks we are watching. Reported operating income next quarter could be negative. American getting a price target cut. One dollar a share from 10 at evercore. The cusp ofon getting a 730 million award, even after he tweeted that shares were overpriced, and then stocks plunged. Clorox is beating on cleaning supplies, looking at organic sales growth rising anywhere from 6 to 8 . Before the pandemic, looking and 4 . To all of that news coming in the last few minutes. Lisa thank you so much. You talk about specific stock movers, people focus not just on amazon but apple is also lower by more than a percent after not providing a forecast for the first time in more than a decade. This has sparked some investor concern despite the fact they increased their dividend and buyback. Tim cook spoke with emily chang earlier. Take a listen to what he had to say. Apple reported revenue that beat estimates, driven by growth and services and wearables. Iphone sales were down 6. 7 , but not as bad as some feared. I spoke about all of this in an interview with tim cook. He says he is already starting to see sales research. He said the last part of margin the first part of april were very depressed, and then a pickup relative to that same time. We are not projecting when we will do this quarter because of a lack of certainty and a lack of visibility. Apple is not releasing a forecast for the quarter or the year. Some analysts disappointed about that. I did get a chance to act about his pipeline of future products, whether the pandemic will impact their products later this year. He said supply chain remains resilient and durable. He also told me we cannot be more proud of our current lineup and we are excited as ever about the pipeline. Stores have reopened in china, south korea, austria, australia. The first halft of may to open up in the united states, but that will happen slowly, just a few initially. They are also talking about how they bring employees back to headquarters in cupertino, california. There will be temperature checks, health screening, and possibly covid19 testing. Lisa that was emily chang. For more now on apples earnings and the path forward, we are joined by evercore isi managing director amit daryanani. Going to 330 a share. What are you seeing in the earnings that people in the market currently are not . Amit thank you. A couple of things stood out more positive. One of the things is just a trend that apple is seeing come the last few weeks of april have been bullish and positive, someone reflecting everyone getting accustomed to the new reality of staying home, and benefits from the stimulus check. Through are sustained the corner, you could see modest growth in the june quarter. The other thing i would stress on, the supply chain seems to be as back to as normal as it can be, and then unleashes the potential for the iphone to be relatively on time. Then you can start to look at fiscal 21 being the year of this ,aterial refresh upgrade cycle where apple will massively outperform. That is what keeps us bullish on the name. 2021 amit you spoke to the outperformance. How much does that depend on the iphone versus what we saw in the latest earnings, actually a diversification of the which analysts have called for, with services and wearables providing more income for them . I think the diversity of apple and you certainly solve the Services Growth last quarter was one of the hallmarks for them. It is absolutely important. Comef the profits still from the iphone, the flaccid product. Black ship product. Phone, that could add. You could have a twopronged benefit with a successful product cycle. Lisa you talk about the supply chain, discussion that perhaps companies are going to move more domestic when they talk about supply chain, not just because of political pressure from President Trump and also way, but to divert against issues that came up during the pandemic. Is apple giving any kind is that they are accelerating a shift away from china, shifting their supply chain in any way . It is a great question, something we specifically discussed with apple, asking them on the call. Their perspective is two tings. Hings. China is only where the final assembly happens. They would argue the supply chain is much more diversified. Dohink you are seeing apple things like moving production to india, for example, and other places like the anon. They are starting to diversify a little bit. I suspect the counter argument to this is, for apple to ramp up their supply chain in a matter of six weeks back to normal levels, unlikely that would happen in places outside of china. My gut is it will always be china heavy with some degree of diversity, but it is hard to see how much in the long run. Lisa amit daryanani, thank you so much for being with us. Stay safe out there. Shares of apple are lower by more than 1 , given the fact that they even managed to eke out a profit. Lets get to Mark Crumpton with first word news. Mark india will extend its nation was locked down for at least two more weeks but will ease in some areas. The number of new infections reported in the country has not fallen despite the 40day lockdown. India reported just over 600 infections and 10 deaths on march 25 when the strict curbs came into effect. Over numbers now stands at 35,000 infections and more than 1000 deaths, according to data from Johns Hopkins. The u. S. House committee launched an inquiry into s handling of the coronavirus outbreaks. The committee requested the cruise line to begin delivering a wide range of internal documents by may 15. The carnival ceo previously said the company made every effort to protect passengers. President trumps Reelection Campaign is sent to release a flood of advertisements touting his response to the pandemic. Candidates saturated the airwaves with more than 9000 hours of political ads this winter, but its the country went into lockdown, neither the president nor joe biden have broadcast any. Mr. Trumps commercials will begin airing on sunday and are meant to be inspirational, signaling the start of an economic recovery. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Against thece coronavirus treatment is ongoing with everyone trying to come up with a vaccine or some way to stifle the virus. Johns Hopkins Bloomberg school of Public Health professor spoke with us about the latest findings. Remdesivir has had a couple of important reports out this showingnth from the nih significant promise of that treatment, and it given early enough in the course of infection, it improves the time that people get better and can leave the hospital. A report out of china suggested it was less successful, but it looks like those patients were being treated much later in the disease process, at a time when it is not just the virus causing damage but also your immune response to the infection causing damage. I would say there is cautious optimism right now on remdesivir. But it certainly seems like a treatment that would be more effective the sooner one gets it, rather than later in the infection process. We talk about having apps. I know there are concerns about personal information, but that could let you get in contact with people that have been in close contact with someone who is covid19 positive. There is also antibody testing. What will be the game changer of saving lives but also getting people to get out of the lockdown . The better we are at treating individuals, getting them out of the hospital to free up resources, that will be one important thing. That will free up more medical resources, testing resources, and that will allow us to switch to this late phase of dealing with the pandemic. We have a lot of hope for antibody tests. Over the next couple of weeks, we should get some idea about what kind of antibodies are mediating protection from reinfection. Once we know that, we can really go after people in the population, identify people that should have a higher resistance to infection. That will really allow us to work with a much more detailed plan for how to open up our economy and loosen some of the Public Health interventions that most of the world is currently under. Are we going to be much wiser about this virus in two months, or will it take longer . We will know incredibly more about the virus, particularly how we treat it, and how we respond to it. Lisa that was a professor of johns Hopkins Bloomberg school of Public Health. The johns Hopkins Bloomberg school of Public Health is supported by michael bloomberg. We will have more on new york city real estate. This is bloomberg. Lisa welcome back to bloomberg markets. Im Lisa Abramowicz. Right now, lets turn to real estate in the new york region. The main person we want to speak to as the portfolio of new york office space. That is marc holliday, Sl Green Realty chairman and ceo. This is an economic crisis, a crisis in commercial real estate. Before we get there, it is also a human crisis on every level, from people dying to risking their life, to losing their jobs. I want to speak to the losing their jobs aspect of this. Your property hosts about 30 different restaurants, and also a lot of people that are hungry. What are you doing on that front to remedy the situation for those populations . Marc thank you for having me. Our response has been centered around two primary initiatives. First and obviously, we have a food crisis. Covid. Xisted pre it has only intensified turned the situation, and there are many people out there struggling for access to good, healthy food, whether unemployed or First Responders working in a medical fashion. So we wanted to help solve that problem. The other problem we have is there are hundreds of thousands of food workers here in new york city that are unemployed suddenly and they are at home, they have been home for weeks, and they dont know whether these restaurants will reopen. We started an initiative called food1st, a Nonprofit Foundation that we have seated and others have donated to, to create the wherewithal to bring these workers back into the kitchens of new york city, reactivate these kitchens, start preparing meals for those in need, and now they are bringing in paychecks again when a week ago they were probably at home watching your show. Lisa i know that you are working with daniel boloud. It is a very worthy initiative. Thank you for being involved with that. I want to shift gears to commercial real estate. There is a lot of angst about new york city. I wonder how many tenants ended up paying on time in april, and when your expectation is for this month . Marc we are fortunate. We have excellent properties, we are manhattans largest owner of commercial office. The tenants by and large are nantscredit quality, te that are able to work from home in many respects. Our collections in april were about 93 . Off of anytips normal month. Many of these businesses are built to last in downturns for whatever reason, more than a month or two. The retailers within our portfolio, that is a different story. Those retailers, our collections were between 50 and 65 . We closed the month at 63 . We are expecting similar numbers for may. There are those retailers that have the wherewithal and capacity to wait out this pandemic and hopefully get back to business at the end of may, beginning of june. There are those that we have to work with, many that i mentioned in the food industry, but others where we are working on getting through two or three months of deferrals, abatements, and it has really been a joint effort between our team and these tenants to get people through this time, looking forward to when the doors reopen and people are back in the city again. Im ai have to say, lifelong new yorker, i grew up in this city. That imential angst feeling from a lot of people is possibly beyond what i felt in 2001. What will the city look like after this . We have stories about big banks wondering about whether they will have skyscrapers because they will be worried about getting people in elevators. Do you think new york city will ever return to where it was before the coronavirus to cold took hold . Marc i have been doing this kind of business specifically in new york city for over 30 years. Different,tion is and this situation is different as well. It always feels very severe when you are in the eye of the storm, but when tenants return and limitations are lifted, everyone will find that the response, at least from the office community, will make tenants and employees feel very safe about returning to their work environment. It will begin at the points of entry with medical screenings ing, toh elevator queu create less crowded experiences, sanitations throughout the day. Some companies will be enforcing tenants faces, and then the pendulum will swing in the other direction. Abouthing has been cramming more bodies into less space in the past 10 years. You will see that swing back the other way, where people will maintain their social distance, and in some ways their privacy, which can create some better productivity. I think youll see that go in the other direction. Officespeople will feel will be amongst the safest places within their daily lives. More hygienic probably than their own homes. Lisa im wondering, are you willing to lend, make new loans now to real estate, Office Buildings based on that hope and expectation . In this market, we lend in this market. , and iket has changed think that you will see for the next 12, 18 months, this market will go through a period of recovery. But i do think the work from work fromiment, while e was serviceable at best everyone that i have spoken with, tenants, colleagues agree there is no substitute for working in purpose built environments, like office space, free of the home distractions come in a collaborative setting that nurtures collaboration. Things that nobody can really say they are experiencing over these various videoconferencing platforms. It just doesnt happen. I am a believer that people who have cap and fever cabin fever, they will see the lack of optimal productivity. Can you get through the day . Sure. As long as people are confident that their environments are safe and well policed, people will come back, and we will invest in this market, lending and equity. Marc holliday, thank you so much. Sl green realty chairman and ceo. This is bloomberg. Mark im Mark Crumpton with bloomberg first word news. With more than 80,000 confirmed cases and 5500 deaths, brazil is fast rising through the ranks of countries most affected are the coronavirus. But the countrys president says just a little flu is no reason to event brazilians from resuming their daily lives, even as experts say insufficient testing is masking infection rates. Restrictions on shopping malls, james, and churches. Protesters staged a demonstration outside of a soweto hospital today about a lack of personal protective equipment and staff treating patients. According to Johns Hopkins university, south africa has more than 5600 confirmed cases and at least 103 reported deaths. The number of infections may be far higher because many people have not been tested. Malaysia is taking steps to return to normal beginning on monday. The country will allow newly all Economic Activities to resume. The government says it will still enforce guidelines to make sure there are no large gatherings. Schools remain closed. Malaysia has had 6000 cases of coronavirus and about 100 deaths. New york state schools and colleges will remain closed for the rest of the academic year. Governor andrew cuomo announce the decision during his daily press briefing. Distance learning will continue. The decision on some School Programs will be made by the end of may. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Amanda live from toronto, im amanda lang. Welcome to bloomberg markets. Lets take a look at markets. We are seeing stocks declined to some of their session lows led by the tech giants after earnings came in disappointing, at least when it comes to guidance and spending on the part of amazon and apple which withdrew guidance for the first time in years. Meanwhile, we are seeing that haven bid into the dollar. 10 year treasury yields lower as the expectation is for a brutal job report next friday for the month of april. Amanda we got some news in ,anada, our Central Bank Head his replacement will be the Senior Deputy governor under mark carney, seen as a successor to carney. Is being named the governor of the bank of canada. The departmentts of finance, as a liaison between g20 and g8 ministers. In 2008, 2009, knows the International Community and can manage his way through a crisis. Considering what has happened to the price of oil lately, the loonie is reacting. Course is how it is being interpreted by many analysts. One of the things that we have been watching is junk bond issuance, 37 billion of new issue hitting the market in april. Michael collins is a Portfolio Manager at pgim. He is with us now. I want to start with what you are seeing in terms of the quality here. One of the concerns we had before covid was there was a bit of a deterioration in quality. Are we seeing any impro