Worn surging numbers may undermine a Global Recovery. Plus, we discussed prospects for the u. S. And the wider picture with the atlanta fed president , who joins us this hour. Haidi lets look at the sydney staggered open, the friday session muted compared to the street we have had in asian stocks, asiapacific stocks seeing 13 consecutive days of gains broken by the thursday session, the longest winning streak since 1988 coming to an end. A flat stock a flat start in sydney, kiwi stocks up, muted start in japan spite heavy inflows of foreign buying. We are seeing a further downside when it comes to trading in the futures session. Getting secretary mnuchin speaking at the moment. He is speaking in an interview with Bloomberg News, saying financial conditions are quite strong, that companies that are need grants,covid not that. We heard secretary mnuchin earlier asking the fed to return unused coronavirus money. We will get you more as we get those comments. This is coming at a time when
The u. S. President says he wont be that advice. But the i. M. F. Raising concerns of the developing countries medical needs help workers in pakistan and desperate for more protective gear. And in sport further talks are taking place to discuss English Premier League footballers taking a cut the deal is being negotiated that will see players salaries produced by 30 percent. And new numbers have just been released from spain more than 800 people have died there in the past 24 hours from corona virus but that is about 120 few if they tell us hes compared to the day before more than 11700 people have now died in spain since the outbreak began the number of new infections in spain contin. Used to rise with nearly 125000 confirmed cases meanwhile the us cent is for Disease Control is urging people to wear face masks to reduce the chance of infection a reversal of previous official advice the u. S. Government is also promising to pay for tests and treatment for tens of millions of americans
the world s 2nd largest cell phone maker says the u.s. company is stealing from we have a live report and this is layla is back in the headlines as the u.s. once again is talking about overthrowing the close missouri but there is an untold story about what s happening inside venezuela as the nation s economy is quickly improving we ll break it down in a report you won t see anywhere else a lot to get to on this very busy day so let s get started. and we begin with news that china will cut in half additional tariffs levied against over $700.00 u.s. goods last year now on one hand this announcement reciprocates the u.s. commitment under phase one of the deal but here s the thing analysts also see it as a move by beijing to boost confidence in the midst of the corona virus outbreak interestingly the chinese finance ministry stated that the number of goods being affected they told us how many 717 but did not state the value of those again that s strange we do know that the produc
cut tariffs on soybeans from 30 percent to 27.5 percent also tariffs on crude oil will fall from 5 percent to 2.5 percent. well meanwhile in light of the corona virus outbreak beijing could invoke a disaster related clause inside the trade agreement that clause would allow china to avoid replications even if it cannot meet the target it purchases of u.s. goods and services for 2020. and oil futures had an up and down day on thursday as . plus technical panel has called for a provisional cut in oil output of 600000 barrels per day in an effort to stabilize prices delegates from oprah plus held emergency meetings this week to discuss possible actions to deal with falling oil but demand in china due to the coronavirus now according to a report from the wall street journal russia has rejected the plea for cuts which has caused oil prices to fall once again now sources close to the situation say russia may be looking for more time to consider the proposed cuts on the news brant cr
decided to print the people s bank of china decided to print $250000000000.00 on monday and tuesday of this week to try to push up the stock market i mean it s absolutely crazy look the way i look at things as this is the most over valued stock market in history if you look at the metric of total market cap to g.d.p. we are a full 2 and a half times more overvalued today that we were in october of 1987 before the nasdaq began to fall about 80 percent ok so this is the most overvalued stock market in history and 6 that sits in the context of the fact that there has been virtually no earnings growth throughout 200-1000 so wall street is hoping for this massive rebound in earnings a big boost in judy g.d.p. and what we can be absolutely sure of is that the coronavirus will prevent any significant rebound in both earnings and g.d.p. i ll tell you what the market is going to have to look forward to is the fact that the federal reserve from is under jay powell to start to attenuate