in the u.s.. the other thing is racism makes the people moved to environments that are more hospitable and diverse. so, everywhere you see people of color in communities in u.s. you see jews of color. every where you see jews in the u.s. you see jews of color. where both ever represented a on the coasts, but also in some ways really robust populations in those same communities that provide hospitality and safety for people of color when they have been in committees all of the u.s. historically. >> in the community itself we have an ongoing conversation about who is a jew and how does so many say they are jewish, whether they have converted to judaism, born jewish, or in a jewish family. from the jews of color perspective , does it encompass what we might think of as a mainstream jewish understanding of, like, your image of in a jewish family if you are intermarried how does that work for the jews of color prospectively? >> i think it works the same way as in the general jewish community. have fami

economy and i think the u.s. economy will rule recover quickly from when we get back to work robert it looked to me like you may have been nodding to some of what greg was saying to you want to jump in. well i actually think that the numbers in the 2nd quarter ending and june are going to be quite her horrific what the predictions are that the real. bottom of the g.d.p. will decline at a rate of anywhere between 35 and 40 percent again this is uncharted territory i would also add that i'm concerned that the united states because of the holes in our unemployment system compares compared to europe it's going to be much more difficult to recover we're going to lose potentially millions of small and medium sized businesses they're just going to disappear and so i don't think it's going to be so easy to just pop back from this intentionally induced downturn jeff it also looked to me like you may want to jump in did you want to add to what was just being said. yeah i think that european response generally obviously var

alex do you think the u.s. this is nothing can be done here without some sort of u.s. cooperation in whatever opec opec plus might come up with. well i think i think the u.s. participation is key here and i think we see it playing out in to 2 different ways number one some form of production restraint from the u.s. and you know you mentioned that the u.s. can't really restrain production but you know the texas railroad commission they do have the ability to limit production out of texas they have done this a stork lee it hasn't been tested for a number of decades but we do know that you know these one of the texas railroad commissioners is in favor of some sort of production restraints you need to have 2 thirds of the commissioners to be on board with it's actually happen and then we don't know actually how it works and and how it actually function in 2020 but there's a store precedent for that so that that can happen. and you know it's not a federal government it's not like trump can order this it's more a state by state decision that we made especially in texas so th

u.s. leaders have long nurtured strong bonds with saudi leaders even since the rise of shale oil helped the u.s. overtake saudi arabia is the world's largest oil producer $3000000000.00 the fact that saudi leaders are now willing to risk the anger of their american allies suggests they believe the world's oil glut won't end anytime soon with much of the world on lockdown few drivers on the road and fewer planes and ships are using fuel oil prices are so low they briefly hit negative territory this week at the chicago board of trade that left some sellers actually paying virus to take it off their hands now many producers are simply storing it and waiting for prices to rise the u.s. can hardly turn the ships away the saudi government owns them ot the oil refinery in port arthur texas america's biggest issues with crude. oil refinery you know. market oil muscle just by your rule even as american politicians lament the saudi incursion the ships sail ever closer john hendren al-jazeera chicago

u.s. president donald trump downplays the possibility of a severe coronavirus resurgence in fall winter. hello again i'm mr and this is al jazeera live from also coming up the pressure to reopen businesses amid the pandemic intensifies in the u.s. despise advice from medical experts who say it's way too soon. already struggling with overwhelming debt in argentina now the pandemic is making the economic situation even once. and a milestone for iran but a cause for concern from the u.s. as the country launches its 1st military satellites into orbit. now u.s. president donald trump has dismissed the possibility of a severe 2nd wave of corona virus infections in the year that during his daily briefing he asked the director of the u.s. centers for disease control and prevention to clarify his earlier remarks that another bout of infections during the flu season could be even worse than what's being witnessed now around $840000.00 people have been infected in the u.s. and nearly $50000.00 have d

we had u.s. stocks falling from the six week i on account of what we have seen in oil trading prices. that historic plummet into negative pricing for the wti may contract. the only story and markets. we are seeing negative trading when it comes to the future session in japan. in australia, looking like we will see weakness as well across the energy and mining sector. coming up, stage c is missed -- capital sees some risks. this is bloomberg. ♪ haidi: breaking at the moment, goldman sachs coming out, warning of a potential further ontress for may wti futures tuesday. of course, we have pared back some of those losses on the may futures. barrel.e are at -$5 per goldman sachs saying the oil pledge is symptomatic of unprecedented oil surplus, saying the june contract to face downward pressure. we are at around $26 per barrel. let's turn to sophie for another check of the market. sophie: the jury is out as to whether or not we will see a repeat of the extreme moves we saw in u.s. oil markets. we can

but when the u.s. has a major crisis situation where we are in right now where our health care workers cannot get access to that, what are you skyrocketingu think the president had to use the defense production act on 3m? >> well, it's been a focus of the defense production act, i would say that we've been telling the administration for days and days, and it's important to understand that, we're happy to shift our overseas production to the u.s. we're already a net importer. but there are consequences, as you highlighted. we are often the sole provider for health care workers in many cubs, and that was the -- in many countries, and that was the way we built out this capability, to be able to support them. there will be consequences. they will not have access to products, and they're in the middle of the fight too. we're happy to do that. we'll comply with the dpa. it was important that we had that to help us aggressively go after that because of the consequences on a humanitarian level. and then the u.

but when the u.s. has a major crisis situation where we are in right now where our health care workers cannot get access to that, what are you skyrocketingu think the president had to use the defense production act on 3m? >> well, it's been a focus of the defense production act, i would say that we've been telling the administration for days and days, and it's important to understand that, we're happy to shift our overseas production to the u.s. we're already a net importer. but there are consequences, as you highlighted. we are often the sole provider for health care workers in many cubs, and that was the -- in many countries, and that was the way we built out this capability, to be able to support them. there will be consequences. they will not have access to products, and they're in the middle of the fight too. we're happy to do that. we'll comply with the dpa. it was important that we had that to help us aggressively go after that because of the consequences on a humanitarian level. and then the u.

the u.s. has really shifted a lot and cycled back and forth between different approaches toward iran. to simplify things a little bit, i would say that u.s. policy toward iran has sort of cycled through three main postures toward iran in the 40 years since the revolution. first, a posture of engagement in which the u.s. uses primarily diplomacy toward iran and toward third parties to try to reach a comprehensive settlement of outstanding differences with iran rather than just specific narrow issues. and also engagement usually is aimed at bringing about some kind of domestic change in iran, although certainly peacefully, mainly encouraging moderates. the model for engagement or at least a very good model for engagement is, say, u.s./china in the 1970s when the u.s. and china went from being extremely hostile toward each other toward a much more cooperative relationship. so engagement is one posture that the u.s. has taken from time to time. secondly coercion where the u.s. also is trying to br

the 10 year u.s. breakeven rate, the proxy for average annual inflation in the next decade, reading further below 1%. for more on the impact of this historic price drop in crude is --k colas, data track datatrek research cofounder. going toct is this have, both in the economic trajectory and in terms of the way that relates to asset prices? yes, it is, first of all, very historic. i've been in markets 30 years and have never seen anything like this. to me, one of the more important long-term takeaways is just how hard it will be to gauge the u.s. economy with all of these dislocations going on. simple example, gasoline is 3.3% of the u.s. cpi. how do you think about inflation in the context of that? then you factor in all the flow-through effects that the economy is seeing right now in terms of disruption, all of them have a direct impact on how i measure inflation, how i measure unemployment, so we are really in a black hole of information right now because of all these dip look -- because of all of

u.s. president donald trump says the executive order to hold immigration for 60 days may come as soon as wednesday trump says it's aimed at protecting american workers who lost their jobs through the coronavirus pandemic. the u.n. is warning that more than a quarter of a 1000000000 people could be pushed to the brink of starvation other coronaviruses had never world food program says countries need to take immediate action or risk multiple famines. a mexican has entered what it calls face 3 the most serious stage of the pandemic the number of reported infections has a past 9000 with nearly 900 deaths the government has passed a law granting amnesty to those who haven't committed serious crimes it is designed to keep its prison population and therefore lower the risk of an outbreak and reports. of mexico's 19 contagion could be only days away mexico's deputy health minister warns the national health system could soon be under the greatest pressure from the virus. today we want to start phas

u.s.s trade lower after banks make mammoth provisions for bad loans. and bank ofs, citi, america all reporting today after j.p. morgan and wells fargo yesterday. the pboc cuts medium-term borrowing costs again amid expectations of further easing, after the imf warns this year's downturn could match that of the great depression. we are just under an hour away from the start of cash equity trading across europe. let's take a look at how futures are trading. we had gains in the cash trade yesterday in europe, with the exception of the ftse, and big gains in the u.s. to close the session last night. mixed trade in asia as the earnings season began to kind of way on some investors sentiment. as a result, we see european futures down this morning. nasdaq, u.s. futures down as well, about two thirds of 1%. let's get you the bloomberg first word news from the terminal. president trump says he is suspending u.s. funding for the world health organization while his administration reviews its response

court on the basis of u.s. law this is a regime of law that governs all states so ok in the arguments you make then tell us what exactly are you claiming against china. well the argument draws on as you mentioned the historic trail smelter arbitration case that case involved pollution drifting into the united states in the late twenty's and early thirty's from a large smelter facility in canada and after private lawsuits like the ones we just mentioned in missouri or or mississippi or class action suits failed to produce compensation for the farmers in the state of washington who were harmed by the smelter after those cases failed the united states took up the cause of those farmers in international law and remarkably canada greed to be brought before an arbitrary panel in that case and that panel established some fundamental rules in public international law the 1st is that no state should be allowed to use its territory or allow its territory to be used to create harm in another state's territory and the 2nd

u.s. naval war college and dr. nathan citino of rice university. he has written many articles and books on the middle east. his latest book won the book prize from the society of historians. it is a great honor. i will turn this over. >> no need to go over my background. i am an associate professor at the u.s. naval war college. i need to add a disclaimer. while i am here on an official capacity, none of the opinions i express should be construed as expressing the official opinion of the united states government or its agencies. this is a talk i give to my students, regarding the oil industry. i will try to keep it to 10 minutes. the aim of this talk is to give you an overview of how the industry operates as informed by the study of history and the second point, to explain how oil influence u. s. policy and strategy since 1945. the first point, oil is different from other commodities. for most commodities -- i will give you a brief discussion of macro economics. not even an economic histor

significant u.s. funding. i really actually don't think it's going to come to this in the end that the u.s. will fully withdraw all funding of the w.h.o. because nobody enjoys critical functions not just for the u.s. but for the rest of the world and as soon as you say w.h.o. pandemics epidemics and what the w.s.j. do does in its mission another word for the us critical comes to mind that's national security anything the w.h.o. dust and doesn't do has an impact on national security faults and and estimates here in the united states for the united states chef and siemens in washington d.c. thank you. well time to take a look now at other news around the world former u.s. president barack obama has endorsed a democratic contender joe biden in the race for the white house mr obama announced his support for his former vice president in a video message describing biden as the right leader to guide the u.s. report. firefighters in ukraine have extinguished a fire that was threatening the church noble nuclear power p

u.s. economy has gone into defensive mode. the virus maintains pressure on oil prices, falling to their lowest in two decades as the demand for fuel continues to collapse. u.s. futures dropping below $20 a barrel. bridgewater associates says the pandemic is more damaging than the financial crisis i decade ago. we hear from the cochairman, ray dalio, this hour. shery: here is how markets are trading at the moment. we are seeing stocks continue to gain ground for the third session. we continue to see downside pressure for u.s. futures, which are down 0.7%. really accelerating those losses this evening. this after the s&p 500 already sank from a one-month high. we have seen earnings, economic data highlighting the impact of the coronavirus pandemic. nikkei futures down 0.4%. as we continue to see an appreciation in the japanese yen, which is now at a two week strength against the u.s. dollar. when it comes to crude, prices rebounding a little bit after plunging to the lowest level in two deca

u.s. jobs also. we don't have the full effect of what we are seeing with coronavirus. but singapore is back and locked down with the closure of all sports and recreation facilities and the closure of all nonessential business. tom: i would really suggest oil is important, but complete we secondary to the implosion that we saw yesterday and american jobs data. and the french data not much better. right now, for global wall street, it is about calibrating the slow down and the non-recovery out in the third quarter. and also, it's the follow on from the rents that weren't paid. there were massive upsets this morning. francine: i don't disagree. but oil can make things worse. let's get straight to uber first word news in new york city with viviana hurtado. viviana: we do begin with oil. opec putting together a virtual meeting of its members as president donald trump calls for a court need cut to end the historic crash in crude prices. two delegates telling bloomberg the meeting will be held on

but the personal hope is that the u.s. a is at the tail end of the wave. so the u.s. is the last place where we see the curve begin to flatten. but if it is following a sequential pattern where first it's china, then it's korea, then in the critical hot spots of europe such as italy, we begin to see the flattening of the curve in a sequential way, then the hope is that even the united states we start to see that, and some sort of easing of the lockdowns begins in may. that is what is in the forecast. gerry: sorry, go ahead. >> the problem is this, the great depression is -- [inaudible] that is a great headline, and on i sort of use it, this could with the greatest economic decline between this and the great depression, but there's such a huge gap between then. because there you had the massive decline in global economic output and a 25% -- [inaudible] but there's one big critical difference that we have now is -- and also the amount of capital being up leashed in central banks around the world. the stimulus is already twice the size of what was put into effect during

u.s. stocks higher amid optimism about the reopening of the economy. stephen mnuchin sees a restart by the end of august. oil recovers from a 21 year low up to two days of frantic selling but the glut looms over the market. the politics of the pandemic. the u.s. and china continue to trade barbs over their handling of the crisis. washington says the world has been let down. breaking news out of south korea. we are getting first quarter gdp numbers quarter on quarter, seeing the biggest drop since 2008. young talking about a contraction of 1.4%. it is still a little bit better than expected. the expectation was a contraction of 1.5% but it will still be the first quarter on quarter retraction since 2009. the year on year number rising 1.3%, is also bigger increase and was expected. it was expected it would only gain 1%. it is also growing -- this rise of 1.3% year on year coming after growing more than 2% in the past two quarters, so it is still a slowdown from the previous quarter. we are

when the u.s. president's back to take the podium as part of the krona virus task force briefing but there's no question reporters are going to be asking about the instability in the oil markets in these falling prices and we'll be taking that briefing live here on al-jazeera kimberly you and i will have a chat about it after it happens for the moment can really help get thank you. for some of the injured 5 meanwhile is in doha for us looking at the impact that all of this is going to have in the go for region how big is it going to be. but it is going to be huge because there is going to be a knock on effect this is for the 1st time in the w.t. i have history since 1946 that you've seen when prices go below 0 dollars a barrel it at a point reached over minus $40.00 and so it is an unprecedented time and it is not going to be contained to just the u.s. markets because the u.s. share in production is a wide chunk of global oil production and just to. decode this for our viewers who are watching this

u.s. house could vote on the pandemic measure as early as tomorrow. the senate passing a $484 billion release -- relief package, including money for the tapped out program to aid small businesses and aid for hospitals. immigration and president donald trump, he announced he would halt two months green cards for permanent residency, stopping short on a ban for foreign workers. that will complicate planning for companies looking to rebound from coronavirus. in the u.k., the finance minister says there are encouraging signs the outbreak is slowing. yesterday's death toll was the slowest in two weeks and parliament is planning to use group denies -- planning to scrutinize how the johnson administration is handling the pandemic. , it fell inoil london to the lowest level in 21 years before rising, plunging to around $16 a barrel. the coronavirus outbreak has crushed demand and there are steueril will overwhelm -- storage capacity. global news 24 hours a day, on air and @quicktake on twitter, po

small parts of the u.s. are reopening beaches in florida businesses in texas but for some things aren't moving quickly enough seattle saw one of the biggest protests demonstrators angry at the governor's stay at home order trying to limit the transmission of covert 19 i really feel that our governor is overstepping his. is a 40 on this shutdown proclamation that is really hurting our economy this is the tour now this is a tool to keep us have home and i house arrest we're not on house arrest we don't have to suffer distaff we can barely ask what we can still distance from people i'm not on house arrest terry here in denver colorado some nurses protested the protesters blocking their cars people to go home but the demonstrators have even won the approval of the president even though their actions go against the guidelines in shooting by his own administration where you're allowed to protest i mean they they feel they watch a protest and they were all 6 feet apart and it was a very orderly group of people but

it is the u.s. that has to do it. the u.s. has done it in the past and you can see in the absence of u.s. leadership how the international response effort is stumbling. >> sadly, we are running to the end of our time here and i just wanted to give you, secretary kerry, an opportunity for any reflections and reactions to any of that and maybe then we will hand it back to jim levinsohn to close up. >> thanks very much. of teachingivilege at the jackson institute, soon to be school of global affairs. over the course of that, we talked a lot about what is diplomacy and the tools of diplomacy. the tools of diplomacy have changed dramatically in a world globalization,, but a nation has to define its interests and values simultaneously. is a constant balance of choosing whether the values are more preeminent than the interests or whatever. right now, i've never seen higher need for interests being served or values by the u.s. getting back into the job of being the leader of the free world. everyone and i've said many times as secreta

u.s. oil prices dropping to their lowest level in 20 years as concerns over coronavirus eclipse the deal to cut output we're talking about a thing called may futures is the benchmark it's full into around $11.00 per barrel global demand has plummeted as travel restrictions reduce the need for oil the crisis was compounded in march by a price war between saudi arabia and known opec member russia that ended this month when they and other countries did agree to an unprecedented cut in output of almost $10000000.00 barrels per day to boost the markets that have been hit by the virus but despite that the world is still oversupplied and that stoking fia's the prices could fall and fall further john hendren as the latest. across american oil country the pumps are shutting down since the coronavirus locked much of the western world in their homes the floor has dropped out of the oil market is a gas station selling gasoline for 99 cents a gallon now you would think wow that's great and your body wi

the u.s. senate unanimously approved another coronavirus aid package as president clarifies his suspension of immigration. disorder 'd will only apply to individuals seeking a permanent residence in other words those receiving green cards. santa maria this is the world news from al-jazeera iran's revolutionary guard says it's successfully launched the country's 1st military reconnaissance satellites and will also look at a u.k. report bringing into focus the severe impact the coronavirus pandemic is having on many young and vulnerable minds. almost $500000000000.00 in extra financial aid has been approved by the u.s. senate to help businesses and hospitals struggling under the coronavirus pandemic the house of representatives will vote on this on thursday it would be the 4th such package adding up to about 3 trillion dollars in all will start with the support from my counter in washington d.c. with many senators working from home the boat with take them by voice all in favor say aye. pose no y

u.s. futures, gaining more than 3%. this of course as president from just announced his plans on reopening the u.s. economy, saying 29 states are in the ballgame for opening relatively soon. we are seeing also positive sentiment across nikkei futures which are gaining 2.5%. this of course after two sessions of weakness the japanese yen against the u.s. dollar. he restocks gaining ground for a fourth consecutive session, highest level in over a month and even a little bit of a rebound for oil prices. of course, oil closed under $20 a barrel for a second session. still, it's around the 18 year low, haidi. course are we of continuing to digest what we are hearing from president trump and his really expansive news conference at the moment, saying the u.s. has passed the peak when it comes to new virus cases. he has unveiled guidelines to allow the economy to reopen. he says he expects fewer deaths in the nation then even the most optimistic projections. greg sullivan is our reporter in washing

the u.s. senate has passed another multibillion dollar relief bill to help small businesses suffering from the coronavirus impact it's the nation's 4th stimulus package this one is worth almost $500000000000.00 it comes as the number of reported infections worldwide stands at over 2 and a half 1000000 with more than 177000 deaths mike hanna reports now from washington d.c. . with many senators working from home the vote was taken by voice all in favor say aye aye aye aye those no yeah it's fair to have it the follows intense negotiation between the white house and congress in recent days at the core of our remit is $320000000000.00 more for the paycheck protection program which is already saving millions of small business jobs and helping americans get paychecks instead of pensioners democrats successfully 4 to include $75000000000.00 for hospitals and $25000000000.00 protesting which had been excluded in the initial republican proposal we don't have enough chests that cry rings from one end o

the u.s. markets because stocks are now more costly than they were when the bull market ended two months ago. that is the earnings outlook, if it is any guide. the ratio hit 19 in february. 19.7 on friday. this despite profit estimates that we are 18% lower. joining us to discuss is a portfolio manager, michael. always great having you with us. it is the equity market here in the u.s. overvalued? michael: good morning. thank you for having me. it depends on your perspective. i think when you look at the uncertainties out there, you can definitely say it is overvalued or at least richly price given expected earnings. the only caveat i would say is there is no way you can predict earnings right now. if you are trying to value stocks based on discounted cash flows going out, it is hard to do, virtually impossible, until we have more visibility with respect to how the world comes out of the coronavirus on the other site so you are really buying stocks on the others for the future on the expectatio

as the u.s. continues to soar in corona virus cases will its health care system be able to handle the strain coming up we bring in our resident expert on this subject for the full picture with a packed show today so let's dive right in. and we lead the program here in the united states as president donald trump addressed the social distancing measures taken within the country to limit the spread of the crowed a virus during his daily briefing wednesday the us president pushed back against the idea of a nationwide lockdown leading up to states to make the decision. there are some states that are different so there are some states that don't have much of a problem there is so low they don't have the problem they don't have thousands of people that are positive with thousands of people that even think they might have it for hundreds of people in some cases so you have to know that you have to look at that you have to give a little bit of flexibility even if the state. in the midwest or in for alaska

known the u.s. state of massachusetts nearly 70 people have died from corona virus at a facility that cares for elderly veterans another 160 residents and staff of the hollyoaks soldiers home contracted the virus as well one they're blaming staff shortages investigators looking of filing criminal charges. let's wrap up some of the top stories for you from around the world al jazeera has learned that the u.n. and international committee of the red cross have both advanced plans for a mass prisoner exchange in yemen which could happen within days as part of a ceasefire proposed by the un special envoy martin griffiths diplomatic editor james bays has this exclusive report. a mass prisoner exchange was 1st proposed in the stockholm agreement in december 28th all sides agreed to the idea but it never actually happened now it's being revived as part of a peace plan proposed by the un special envoy martin griffiths he said he believed that plan was close to fruition when he spoke to the un security counci

u.s. history and like concerning news when it comes to economic growth in the united states markets surged on wednesday meanwhile the u.s. federal reserve the federal open market committee wrapped up crucial meetings where they decided to keep interest rates near 0 fed chairman the virtual press conference following the meetings and had this to say. last month we quickly lowered our policy interest rate to near 0 we stated then and again today that we expect to maintain interest rates at this level until we're confident that the economy has weathered recent events and is on track to achieve our maximum employment and price stability goals so let's get some expert analysis on the state of markets and the economy with former fed insider and c.e.o. of quill intelligence. co-host christine thank you both for joining us today now i want to start with you on this fed decision the fed is actually now plays additional actions and lending programs as the economic conditions have worsened what are t

as u.s. equity stake a small bounce today before fading on the back of energy and stabilizing oil prices traders are cautiously looking ahead to the new initial jobless claims number after posting an unprecedented 3300000 surge this week is expected to be even worse with goldman sachs estimating a jump of up to 6600000 this is a 2 week sum of 10000000 new americans claiming unemployment benefit with california pennsylvania and. new york leading the charts the group being hit the hardest are those between the ages of 25 to 54 years old primarily coming from the restaurant industry retail mission hospitality clerical and the gate economy now with more than 80 percent of americans under some for a lockdown this is far from over as unemployment rises the chances of a quick recovery fades as the economy will quickly decelerate and come to a grinding halt the contraction in consumption resulting from unemployment will further reduce revenues and earnings for businesses which will increase the debt

in the u.s., wti crude is based on delivery in oklahoma. they are physically running out of places to put the oil. if you go down there and get paid $25 to take the oil, put it in the swimming pool and sell it in june and make a $45 spread. there are some rumors about big bankruptcies among large energy traders, especially out of asia. there were some positions being liquidated. if you put those things together, that is why you saw this unprecedented move. if you look at the real economy, the decline of the price of oil in one contract for may, that does not tell you about demand. i don't think this is really a demand story. if you look at the curve, it will rebuild as the economy reopens. that is why you see the markets with this really dramatic selloff in oil prices. given that energy is still a chunk of the s&p 500, not to mention the u.s. economy, that the u.s. is now the largest oil producer, there's a lot of jobs depending on the sector, high-paying jobs. can there really be market stabiliz

president trump claims the u.s. has more casesinecause it is more testing in new york, 3 people died yesterday, a big drop from two weeks ago. all this comes as more states move toward reopening their economies. jane o'brien has the vy latest. jane: a salute to the covid warriors, theng blues of the thunderbirds paying tribute to those on the front lines in the battle against coronavirus. theys flew in formation acr the northeast, an uplifting spectacle for residents in lockdown. new york continues to be the worst-hit, but today a glimmer of hope. >> what we have seen is clearly promising, getting us closer to the day when we can start to open some things up. but i have said it before and i will keep saying,wi w be conscious, we will be careful, and it will be gcterned by the jane: more than one million people in the u.s. are now known to have been infected, and the emphasis is on more testing. in manhattan, people lined up at the latest facility. other states are moving faster even with recommended levels of testin

can you see here, u.s.-based benchmark up by 3.5% you can see $27.06 the world's biggest producers will agree to the output cut according to this report, saudi arabia and russia will agree to that move after flooding the crude market with supply in recent weeks uncertainty sent oil down in yesterday's trade. questions remain with weather the u.s. will take part in an effort to affect prices. an agreement on output cuts will only be finalized if the u.s. actually agreed to take part more on that story as it develops >>> to washington, d.c. now as a fourth stimulus package develops as one high-ranking u.s. official sounded the alarm of the potential coronavirus months before it manifested itself. eam eamon javers with us >> good morning. the big one is this reporting of the new york times overnight officials have been saying that nobody could have predicted the scale of the disaster here it turns out one high-ranking official was predicting pretty much exactly what we have seen as early as january and februar

u.s. trading friday although we are seeing u.s. futures trending lower in the morning asia session. saudi arabia has already started curving output ahead of the may 1 starting date for the opec-plus output and production curve agreement. four days of gains when it comes to oil prices. shery: global confirmed cases having an impact on the markets, approaching 3 million according to data elected by bloomberg and johns hopkins university. there are signs new cases in the u.s. and europe are slowing. salamat.ng in rishaad europe seems to be easing, but the u.s. still seeing a rise. what is the latest? rishaad: what we have is the italian prime minister is saying his country will start using lockdown restrictions and could be doing so as soon as this fourth of may. that could be a key test to europe's efforts to restart. economies which happened -- have been dropped to a halt. with caution already underway in countries like germany, austria, of the, at the same time scandinavian nations, we hav

, the u.s. is lifting restrictions say there studying plans today. germany, austria, and the netherlands relaxing containment rules. policymakers are wary of spurring a second wave of infections. the coronavirus is here to stay and likely to be seasonal. that is the conclusion of china's top scientist at a briefing in beijing. they say it will likely come ,ack in waves and in the summer will necessarily lead to fewer cases but the new virus is different than sars. high number of a symptom cases makes it hard to fully contain. the germany, the government has asked sap and deutsche telekom to develop a contact tracing app. the idea is to collect anonymous data about nearby phones using bluetooth. once an infection is confirmed, people using the app can learn if they've been in proximity with the confirmed infection without learning the person's identity. around 3200llowing at its u.k. wing in brighton. agreed withit has the union to take advantage of the government's payroll supports. the move wil

u.s. through a third-party and we will be sharing how we do that internationally as well. how much of the focus is on reaching the right communities? >> i'm sorry, i'm not hearing you very well. francine: will try again. i don't know how you are going to reach people. can you hear me? >> go again. youcine: i was going to ask about how you reach communities. our people using facebook to try and find information about how they can get paid? >> i think when you are asking is how we are using our reach to get information out to people. is that correct? francine: yes. >> we are doing a number of things. people abreast of how we can play our part that is very important to us. one thing we have done is create a coronavirus information center at the top of people's newsfeeds and that is giving people updates about what local health authorities are saying at the advice they are giving. since the buyer started in the crisis emerged, we have directed over a billion people to these resources. that's n

u.s. holds the key to this. shery: we are seeing president trump threatened tariffs as needed to say the u.s. oil industry. if there is no consensus, how far down could oil go? jim: we are at a stalemate at the moment. trump is digging his heels in at the moment with a tariff threat. disappointment this week, we will probably be back on the defensive in terms of prices. about $20 a barrel, which has so far held the line. there has always been some buying interest below. that level will come under scrutiny if there is no deal here given that demand is taking a big hit from coronavirus and continues to do so. acrossns remain in place europe and north america. there is not demand in the market to take the extra supply being pumped out by the russians and the saudi's. it is a bleak outlook if a deal cannot be done. shery: thank you very much for that. up next, a counting scandal is spreading far beyond a starbucks challenger. this is bloomberg. ♪ shery: what could be a curtain raiser for even further weakness ahea

when its planes aren't flying and its roads are all but empty the u.s. can at least lay claim to one thing we certainly are plenty of oil in fact far too much of it the president tried to calm nerves after the value of u.s. crude went negative for the 1st time ever on monday at one point reaching minus $40.00 a barrel in a month or so go a little bit it's a 25 and 20 $8.00 or so it's largely a financial squeeze and they did get squeezed with a traders who found themselves on monday under heavy pressure to sell off their crude futures the rising cost of holding the oil in the u.s. is when dealing storage facilities means keeping it is becoming too expensive. there's so little space for it left the u.s. government is planning to fill up its own reserves. i think we have 75000000000 gallons right now capacity that's a lot it's we've been building it up over period but that's a 75000000000 barrels. so we're going to get either ask for permission to buy it or we'll store it one way or the other it will be for the what is most needed is a return in demand brou

u.s. vice president mike pence says that no american will have to worry about paying for coronavirus testing or treatments mike pence has announced that medicaid medicare and private insurance companies have expanded their coverage. the u.k. has reported nearly 700 new deaths taking is told to more than 3 and a half 1000 and the hospital has opened in the capital just over a week after work and it began join to help reports from london it's the u.k.'s biggest hospital with eventual capacity for 4000 covered 19 patients built inside a london conference center it took just 9 days to construct with the help of the engineers dramatically expanding the critical care bed count and other similar sites on the way prince charles cup the virtual ribbon from his scottish residence having recovered from a buyout of corona virus. a krrish to this hospital is. the result of an extraordinary collaboration and partnership between n.h.s. manages the military and all those involved to create a sense on a sc

enjoys in the u.s. see things in nature is about is about one half of one percent more than 3 decades the earth is about one and a half percent so if google just reverted to me. that would suggest demand for precious metals and precious related assets would in fact for all the world does well during times when people are concerned about the producing power of sovereign currencies and in particular the u.s. 10 year treasury and my suspicion is that quantitative easing or it should be known counterfeiting the basis of currency the 2nd thing is that the united states is running. ever margin debt and deficits so that means that what we need to be concerned about the very critical ali of the issue are finally being interest rate your pain in the u.s. to your treasury which is to say the way the preserve your purchasing power and your reward for taking risks is at least in real terms in a negative level my friend jim grant goes so far as to call he what you treasury quoth richard 3 risk so gold challenge is t

u.s. president donald trump says medical supplies will soon be on the way to desperate states as coronavirus puts millions more out of work. mothers and this is all just here on live from doha also coming up china's fears of a 2nd wave or a new lockdown ordered on 600000 people in a province near over the pandemic began. and we visit the soup kitchens in argentina's slums that are helping put a meal on the table for those living under a lockdown. and why the virus is spreading in israel's ultra-orthodox communities. a decades old defense law is now being used by u.s. president donald trump to fight the coronavirus off to criticism over the white house response the u.s. recorded 1200 more deaths on why than state's highest daily toll it has a quarter of the world's 1000000 cases new york city's mayor is urging everyone to may wear a mask or face covers in public the number of cases in the state of new york is now 92000 with nearly 2400 deaths state governor andrew cuomo has warned its suppl

u.s. energy tells cnbc he thinks the worst has passed >> i think with the rest of this conversation with opec was sim simply to do that. >> a bailout of the air sector fails to lift. >>> banks also underperform after jp morgan and wells fargo see their bottom lines hit >>> the imf warns the global economy is facing the worst down turn saying at least the financial system is in better health than it was in the 1930s. >> on the economic front, it makes a big difference there are lenders of last resort they are able to come in and show sufficient liquidity and play a major role in supporting funds and households >>> we have an important oil report just crossing let me walk you through the latest it has said global oil demand will fall by a record breaking amount because of the lockdowns due to covid-19. it has brought mobility almost to a halt. crude will drop an average of 9.3 million barrels a day in 2020 that is a record demapped in april will fall by 29 million barrels a day to a level no