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Extraordinary. The underlying reasons why is very clear. We are up to our eyeballs in oil, at that means the price goes down. We have some terrific perspective today on oil. Too much oil, not enough storage. We will have plenty more on oil and we will try to figure out whether this could happen to another part of the market, but first lets get to the first word news in new york city with viviana hurtado. Viviana we begin with speculation about the health of north koreas leader kim jongun. The u. S. Official got word that mr. Kim was in Critical Condition after cardiovascular surgery. The white house reportedly was told mr. Kim took a turn for the worse. Kim is 36. He recently missed holiday celebrations in pyongyang. Now to president donald trump, issuing an executive order temporarily suspending immigration. Late monday night, the president tweeting the move is needed to contain coronavirus. He also says it will protect ameri ....
Within the dow. Take them out of the picture, things wouldnt be as bad as they are now. Were well off the earlier lows, down 400 points, down about 165 points but also fueling this, offsetting this if you will is talk of progress on that stimulus front. You remember where they were looking for republicans, another 250 billion for the Paycheck Protection Program . Well they ran into a buzzsaw of criticism from democrats that argued it was too tilted to business so they wanted to make assurances for health care workers, hospitals, that sort of thing. I stress that they have reached a broad parameters of a deal. It is not a deal until they both mutually agree. Were seeing progress on the front. That mitigated losses in the dow and offset the oil impact. Edward lawrence joins us now from washington with how this is all progressing. Hey, edward. Reporter neil, close, very close. That is how it is being described. As you sa ....
Brent crude hits its lowest price this century as the demand crash hits the Global Benchmark. An impromptu opecplus call reaffirms commitment to cuts but no action. Repeat,see brent, brent. The u. S. Senate passes new Pandemic Relief Funds totaling 500 billion. Treasury secretary Steve Mnuchin says it is likely to be the last roche sees a bump as they work on developing tests for covid19. We will speak with the ceo of roche at 8 00 a. M. U. K. Time, 9 00 a. M. On the continent. Just one hour away from the start of cash equity trading throughout europe. Lets take a look at what futures are doing this morning after that drop in u. S. Stocks yesterday. Euro stocks futures, the benchmark European Index futures. 7 5 . Ts trading at ftse futures up just over. 5 rig ....
And p 500, however mark said asset prices havent seen the worst of it yet. In a slump in hong kong after scrapping dividends amid pmi data for asia showing contraction across the region. Welcome to bloomberg daybreak europe. A trifecta of investors saying the worst is yet to come. U. S. And european futures also declining after the worst quarter for Global Equity since the financial crisis. The 10year gilts slipping, seeing a little bit of dollar strength. We saw that lifeline from the fed to help ease some of the liquidity strains. Oil fluctuating a little bit with talks about this discussions with saudi arabia and russia. Manus can you imagine what a deal with them might looks might look like. This talk about donald trump, his call for a 2 trillion Infrastructure Spending bill, saying that low rates would make it easy to finance. It is unclear whether his proposal w ....
Tom we see that within our data. Yields lower, curve flattening. But i really note the commodities ace that the commodity space, the linkage to em, the faction yesterday, all of those tied together. One of the great barometers is west texas intermediate, trading , at a 20 price. Francine . Francine i have a similar data check. Taking a tumble after regulators pushed to access payouts. No payouts, no dividends. Stocks falling in europe. Investors are looking at the worsening america coronavirus figures, pretty horrific numbers that we heard from dr. Fauci and President Trump yesterday, and they are trying to assess the impact of the pandemic on corporate profits and dividends. The dollar climate with treasuries. I am looking at a couple of other things. Withe dollar climbing treasuries. I am looking at couple of other things. Economists are becoming less convinced about the potential for a strong snap back and growth. Saudi aramco ....