♪ shery: good evening from bloomberg world headquarters. i'm shery ahn in new york. haidi: and i'm haidi stroud-watts in sydney. welcome to daybreak us earlier. stocks rise as president trump sees america headed back to work in the next month. futures are a lifted by news that boeing is ready to resume aircraft production. china insists its fundamentals are sound ahead of data which is

expected to be leak at best. we are joined by the imf mission chief later this summer. shinzo abe widens the state of emergency to cover the country after critics said his initial plan offered too little, too late. shery: let's get you started with a quick check of the markets closing in the u.s. markets finishing in the green after fluctuating all day. president trump mapping out a phased country reopening amid economic numbers. u.s. futures higher by 2.8%. president trump saying some states may be able to open before may 1. the dow jones up .1% in the regular session. we had some big banks like morgan stanley showing the best performance in more than a decade. we saw a selloff in airlines stocks, united airlines saying travel demand was essentially

zero. we did get more than 5 million americans filing for unemployment benefits. the nasdaq managed to end higher by 1.7%. take a look at what oil is doing -- gaining ground at the moment after finishing under the $20 per barrel level also up still trading around an 18 year low as we see projections demand will fall to a 30 year low. while we are waiting for out with trump to come comments from the white house, he said some u.s. states could abandon coronavirus restrictions in the next month amid some signs the pandemic may be reaching a peak. the number of confirmed cases in the u.s. rose 4.7%, which is lower than the average daily increase over the past week. our washington reporter, greg sullivan, has the latest on this. the president releasing federal guidelines, opening up america again.

what is the plan? greg: that's right. president trump issued new guidelines for how he sees the country could open up. he is set to talk more about them tonight in his daily briefing which should be coming up quickly. in a call with governors, he explained the guidance and said he was sending the states copies of that guidance. what is interesting here is under these guidelines president trump is issuing, some states may be able to open most social distancing practicing within four weeks. we have heard from trump before that is what he is aiming for. he wants to see some states open before may 1 and told governors that it's a far cry from his earlier easter deadline, but we see trump pushing for it and it aligns with what president, he has been pushing for americans to return to work and has been weighing on his mind.

alf of them pushback, saying proper testing capacity should be in place. at what point -- how does this align with the amount of testing we are seeing, not just in testing for infections, but testing for immunity and antibodies, these testing that experts say will be key to opening any economy around the world? greg: the testing capacity has been a point that has been critical of the trump administration, that there has not been this robust testing capacity. the white house has pushed back, saying they are testing more people per capita, but the antibody tests have not come out yet and there is not this widespread testing in place most state and business leaders see. under these guidelines, there would be a three-phase process before opening up some of these states and municipalities. guidelines recommend states documented a downward trajectory

in coronavirus cases before starting the process. and that is pretty hard to come up with without testing in place. shery: despite everything the president has said about having total authority, it seems much of the guidelines but the onus of the recovery on governors. we have seen several coalitions forming among governors. is that the way we are going at the end of the day? that would it will be up to each state to do what is needed for them? good point.s a very we did hear president trump claiming he has total authority, but under these guidelines, the decisions for reopening and listing mitigation criteria is completely on the states. guidelines do say certain things can happen in phases. for instance, schools, bars and daycare's staying open until phase two. but they say the decision for actually lifting these

mitigation standards is up to the governors and governors could delegate it even farther down to counties. a lot of the burden has been placed on the states for decision-making in proceeding with these guidelines. forget we are to in an election year. how much has this played into what we potentially see happening in november? how has been the perception to the president's response in handling of this as the death and infections continue to mount? greg: there is no doubt this is going to be a very big issue in the 2020 elections coming up. you see the democratic presidential candidate, joe biden, trying to put forth his own plans and protect -- and project competence. democrats have been critical of the trump administration. we saw senate democrats calling for a better testing regime, urging the administration to come up with a plan and saying

that -- a second.t wait president trump has taken the podium. let's listen in. pres. trump: our nation is engaged in a historic battle against the invisible enemy. to win this fight, we have undertaken the rate is national mobilization since world war ii. that is exactly what it has been. we have marshaled every instrument of american power and we have unleashed our most potent weapon of all, the courage of the american people. times.ave been trying a cruel virus from a distant land has unfairly claimed thousands of precious american lives. to every citizen who has lost a pain isd love one, your our pain. we mourn as one national family. our country has come together.

we draw solace from the faith god has received and the departed he has taken, the departed into his internal and loving embrace. they will never be forgotten. and months,t weeks millions of americans have joined together in a shared national sacrifice to halt the spread of this horrible disease. the army built field hospitals in sports arenas and convention centers. the army corps of engineers is great. time.0,000 beds in record the navy sale hospital ships to our biggest cities. lifesaving supplies and experimental medicines were rushed to the front lines as we launched a rapid search for ground breaking treatments and vaccines.

we built the most advanced and robust testing anywhere in the world and we have done more testing than any country. suspended dangerous foreign travel, we leveraged our industrial base to produced vast quantities of critical medical gear. and enacted a historic $2 trillion relief package. through it all, we have seen the heroism of our doctors and nurses like never before. warriors, our truck drivers, such bravery, and food suppliers, such incredible avery. and the determination and drive of our citizens. through this unified national endeavor, we have made great progress. say incredibley

progress. our experts and scientists report that our strategy to slow the spread has saved hundreds of thousands of lives. between 1.5cted million and 2.2 million u.s. deaths. if there was no mitigation, it could have even been higher than that. and between 100000 and 240,000 deaths with negation. it is looking like we will come far under even these lowest numbers. to our all out military operation and the extraordinary devotion of our people, we believe we will experience far than even the optimistic projection, but there is no such thing as an optimistic projection on death. one person is too many.

our experts say the curve has flattened and the peak in new cases is behind us. nationwide, more than 850 counties, or nearly 30% of our country have reported no new cases in the last seven days. because of our early and aggressive action, we have avoided the tragedy of health care rationing and deadly shortfalls that have befallen many other nations, nations we areherever possible, helping. in america, no person who has needed a ventilator has been denied a ventilator. we are making hundreds of thousands of ventilators. we have delivered thousands and thousands of ventilators to the states. been anually, it has incredible operation. we started with very little and

we ended with a lot. the united states has achieved a significant lower mortality rate than almost all other countries. based on the latest data, our team of experts now agrees we can begin the next front in our war, which we are calling opening up america again, and that is what we are doing. we are opening up our country. and we have to do that. america wants to be open and americans want to be open. as i have said for some time now, a national shut down is not a sustainable, long-term solution. to preserve the health of our citizens, we must also preserve the health and functioning of our economy over the long haul. you cannot do one without the other. it cannot be done. to keep vital supply chains running, these chains have to be

taken care of so delicately. they are delicate. the balances delicate. we want to deliver food and medical supply. we must have a working economy and we want to get it back very, very quickly. that is what is going to happen. boom.eve it will a prolonged lockdown combined with a forced economic depression would inflict an immense and wide-ranging toll on public health. this includes a sharp rise in drug abuse, alcohol abuse, manyde, heart disease, and other dimensions of physical and mental well-being. put over, patients have needed medical care on hold, creating entirely new hazards for public health.

our country has suffered. the world has suffered. 184 other countries have suffered. therefore, my administration is issuing new federal guidelines that will allow governors to take a phased and deliberate approach to reopening their individual states. i've dealt with them now a long time and we have had a great relationship -- emma kratt, republican, the relationship has been good. this strategy is based on hard, verifiable data. i want to thank dr. birx for her incredible leadership in crafting these guidelines in consultation with scientists, experts, and medical professionals across government. dr. birx will explain the guidelines and more details in a s.w moment dr. fauci has been absolutely terrific. we have worked together and we

have worked together well. they are interested in the health of our country and we are all interested in the viability and making us truly great again. intook the greatest economy the history of the world and we closed it in order to win this war and we are in the process of winning it now. our approach outlines three phrases -- three phases in restoring our economic life we are not opening all at once, but one careful step at a time. some states will be able to open sooner than others. some states are not in the kind of trouble others are in. now that we have passed the peak startingses, we are our life again. we are starting rejuvenation of our economy again in a safe and

structured and very responsible fashion. our strategy will continue to protect senior citizens and other vulnerable populations while allowing military and other groups of incredibly talented people to go about their real business and the business that is supposed to be hard at work and nobody does it better. our military is the greatest anywhere in the world and we are so thankful for what they have done. now be americans will able to return to work as conditions on the ground allow. instead of a blanket shut down, we will pursue a focus on sheltering the highest risk individuals -- so important. we are establishing clear, scientific metric and benchmarks on testing, new case growth and hospital capacity that must be

met before advancing to each phase, and that is each phase specifically, in reopening our country. this is a gradual process, as the caseload in the state continue to go down, restrictions can be eased and come off. throughout the process, citizens will be continued to call upon to use all of their weapons in hygiene,-- vigorous teleworking one possible, staying at home if you feel sick , maintaining social distance, sanitizing commonly used surfaces, and being highly conscience -- highly conscious of their surroundings. those are our weapons and they are very powerful indeed. governors will be empowered to tailor an approach that meets the diverse circumstances of their own states. every state is very different.

they are all beautiful. we love them all, but they are very, very different. if they need to remain closed, we will allow them to do that. if they believe it is time to reopen, we will provide them the freedom and guidance to accomplish that task and very, very quickly, depending on what they want to do. we are also encouraging states to work together to harmonize their regional efforts. we will have numerous cases where states have worked and will be working very closely together. as we reopen, we know there will be continued hardships and challenges ahead. our goal will be to quickly identify and address any outbreaks and put them out rapidly. falle virus returns in the , as some scientists think it may, possibly, these guidelines will ensure our country is up

and running so we can likewise put it out quickly. of our strategy is the vital role of medical research, especially for therapies that will significantly improve outcomes andhigh-risk patients reduce the need for urgent care. this will be tremendously valuable in allowing life to eventually return to normal. at least 35 clinical trials are already underway, including antiviral therapies, noon therapies, and blood therapies in the form of convalescent plasma. you have all heard about some of these events and some of these therapies. they have come a long way. what has been done in the last four weeks is incredible. we will also continue to expand our testing capacity. --have now competed

completed more than three point 5 million tests, by far the most anywhere in the world. areas of our country that have been hotspots have done much more testing on a per capita basis then south korea. we have done more than south korea and south korea has done a good job, but we have done more. we will continue to work with governors to advise them on how to conduct both surveillance and diagnostic testing. overve now distributed 600,000 i avid -- avid id care diagnostic tests. these are tests that are done on oversite and within five minut, you know the answer, positive or negative. in recent days, we have seen a dramatic increase in the number of tests performed by hospitals and academic institutions with more than 120,000 tests recently farrted in a single day,

more than any country in the world has ever been able to. and our numbers are actually going up. as these new and better testing solutions come online, we are seeing this additional capacity reflected in the numbers. for this reason, the number of tests processed in commercial laboratories has dropped from approximately 100,000 to roughly 75,000 tests over the last week. the reason it dropped is because we have so many other tests and we don't even have to go through the laboratories, but the laboratories have tremendous additional capacity and states feel free to use that capacity. some in the media falsely thinged this as a bad when, in fact, it is a great thing. because it indicates the states are moving to faster, more local testing solutions, including on

the spot tests. so, this drop in the utilization of commercial laboratories is an affirmation that testing, which is at an all-time high is growing at a historic rate. in other words, the laboratories are great, but now we have forms of testing that are much quicker, much better, and we don't have to use the laboratories, but they are there and they have a great capacity to do the work. as dr. birx has been advising our governors for weeks, we continue to have an excess testing capacity of one million , our capabilities are growing every single day, especially with the new tests that are coming onto the market rapidly. begin a science-based reopening, we must be extra vigilant in blocking the flooring -- the foreign interests -- the foreign entry

of the virus. it is more important than ever to keep the virus and allow people to get back to work. the sacrifices our citizens have made in this time of crisis will be remembered, studied, honored, and praised for generations to come. we are really all working together. democrat, republicans, conservative, liberal, we are all working together. this is not about parties. this is about our country. now, the american people are ready to rise to the occasion once again. they are ready to show the world once more that americans can defeat any challenger. together, we will rebuild this land we love. we will reclaim the magnificent destiny we share and we will carry our nation forward to new

heights of great distant glory. i would like to ask vice president mike pence and dr. birx to further explain the new guidelines. birx.d like to thank dr. i would like to thank dr. fauci, and i would like to thank especially, a man who has devoted 24 hours a day to his task force and done such an done such anb, our incredible job, our great vice president, mike pence. please, mike. vice president pence: think you, mr. president. members of the coronavirus task force today joined with the president to meet with a bipartisan group of members of the house and of the senate to get their counsel on the development of what the president unveiled to america's governors this afternoon. the new guidelines for opening up america again are a product of the best science and the best

common sense the president has marshaled on his team and from a broad range of advisors from across the nation. the presidentt established the coronavirus task force early on, he made it clear we have no higher priority than the health and safety of the american people. while we stand here on this day with more than 640,000 americans having contracted the coronavirus and our hearts go out to the families of the more hearts go out to the families of the more than 31,000 americans who lost their lives and those who continue to struggle with serious consequences of the truth is thathe because of the decisive action our president took early on, suspending travel from china and thereafter portions of europe and south korea, screening

passengers. because of the strong actions in partnership with every governor across america, because of the ofraordinary efforts america's health care workers, on the front lines, and because of the cooperation of the american people and god's grace, we are slowing the spread. we are flattening the curve. we have preserved the capacity of our health care system and we have protected the most vulnerable. and a word, because of the actions of this president, this administration, governors at every level, our health care workers and our fellow americans, we have saved lives. and every american should be comforted by that. we can see it in the numbers. i will present today, these three maps track

influenza-like illness, which in this instance is mostly coronavirus across america. the first map reflects the total number of cases on the week ending march 28. the next map reflects our data about the total number of cases on the week ending april 4. with thehere today final map reflecting the final number of cases across america as of april the 11th. with these trends underway, president trump task the coronavirus task force to develop new guidelines for opening up america again. those guidelines were presented today first to our nation's governors. it is our intention at the presidents direction to provide these guidelines to assist governors and state health officials in evaluating the most -- vice president pence there talking about federal guidelines on reopening the economy.

president trump saying the u.s. has already passed the peak in new virus cases, but he still says foreign travel and entry limits are more important than ever. he says the economy will come back in three phases. wanting more to come. this is bloomberg. ♪

shery: we are just getting some output numbers from rio tinto, the world's second-largest iron ore producer -- reporting shipments of 72 point 9 million tons, just above the estimate of 71.9 million tons. when it comes to copper production, that was slightly under expectations and more portly, we are watching out for messaging when it comes to demand for minerals and products rio mines. rio tinto say when it comes to as chinay see weakness

continues to cover -- to recover. -- rioat copper has been tinto saying the rest of the outlook there is still more uncertainty. wait for that, we are bracing ourselves for china's fourth-quarter gdp numbers today. in the u.s., stocks climbing on thursday as president trump napped out his plan for a phase reopening of the country amid dismal economic numbers. our next guest says with an accurate and robust stimulus package, we could emerge from this with a v shaped recovery. good to have you with us. we are now seeing u.s. futures gaining ground at the moment. how positive will it be for the market if we do see some states coming back online, reopening their economies before may 1? >> i think it will be very

stimulative. one, from a psychological standpoint, we will have an example of and areas that have come through this and are beginning to reopen and i think that will be positive and uplifting for the markets, for society, and people in the country. also, getting the engine running on the stimulus, but on the pent demand that exist that has been cooped up all this time. as any states go back, we begin theee incident of -- incentive growing for other states to move back and it moves forward to increased demand and activity throughout the nation. it will be a variable speed recovery, but it will be a rapid one. you have called for a laser-focused stimulus package in helping this recovery. we have already seen signs of tension when it comes to the dispersement of these funds stop

already the funds for small business has run out. we've seen this tension between the airlines and the treasury department. how important is this? to get thele stimulus back into the system very quickly is of paramount importance. we have never done this before, so there's a lot of work that has to be done. but i think they are going to have to immediately push the second series of stimulus into this package. i know individuals have been getting their checks. that money is showing up. but keeping the businesses theents -- keeping businesses solvent is of paramount importance and being able to get to expectations of these businesses and companies that they are going to be able to survive this and keep their labor force intact is quite important. we still cannot let up. we are still in a crisis mode of

getting the distribution of the capital out to where it is most needed. haidi: we have been asking these questions in the last few days. in this environment where there is so much uncertainty, you see a number of global markets despite the dreary forecasts on the global economy and expectations the u.s. will fall into a recession in the axt 12 months, what is consensus view of the markets in that case? people are surprised the markets have recovered as well as they have, but the market is a forward-anticipating mechanism. when it looked like we were going to be looking at many more deaths and much greater negative impact to the economy, before the market dripped -- before the market dipped dramatically, but

we are begin to see this is a matter of days. day 42 of the lockdown. by the time china hit day 80 of their response, they were opening their economy backup. so people with some level of confidence and predict ability can look and see how this virus effect economies, all at different times. the globe is not going to open all at once. but nations and states are going to open in a protectable pattern. once you hit peak virus, about 14 days later, you had a crossover point. you can see more people getting well than those getting sick and we can have reasonable expectations going forward. i think that is what the markets are reacting to and what business is pairing for. the amount of stimulus putting into the economy is going to last longer than the effects of the virus, but is going to be at different stages in different states and countries. i know one of your picks

is amazon and hopefully you can see this chart. for the benefit of our viewers, clearly we had big tech being the slowest to fall when he selloff was going on and the quickest rebound again. now we see the index solidly above 200 dma. when you look at overbought territory at these valuations, would you find appeal in adding to these positions in stock like amazon? >> the short answer is yes and here's why. behavior is changing. forced becausen of the circumstance to adopt online activities, online grocery, online retail. the adoption rate has increased in the united states. china does about 25% of its commerce online, but the u.s.

u.s. was about 11%. this event and this artificial stoppage of the economy, the shutdown has forced people to migrate and adopt online retailing much faster than they were doing it before. so we are going to come out on the other site of this with people having established new shopping habits. people who have never shopped online before are doing so that and they are going to realize it is a positive experience, so we are very constructive on that sector and amazon is the key leader there. retailn also, non-store was actually up 2% most recently and overall retail was down 9%. continuee are going to to see a rapid absorption of the use of technology in retail behavior and that is a positive aspect coming out of this. thank you very much for joining us. the news -- the

european central reiterated the phrase we will do everything necessary to cope with the coronavirus, which it says is the worst crisis facing the market in decades. the banks had more international cooperation is needed. christine lagarde said policymakers are committed to helping the euro area and are ready to increase the asset purchase program as much and for as long as required. the european union says it will reshape its next trillion euro budget to focus on the virus and funnel much of its spending in the immediate future. the commission president says the new seven year plan due in january will be "the mothership of recovery and must be different to what had originally been imagined." she said the budget must be frontloaded to power investment in the recent years. the philippines cut its rate as the virus upends the economy. the governor lowered the rate 50 ahead of the banks

next meeting. the key rate is now at its lowest since they adopted and interest-rate corridor system in 2016. shery: argentina is asking foreign bondholders to accept a sharp haircut as the government tries to move its finances to a sustainable path. investors are urged to take a three-year moratorium on payment and a 62% cut on the interest they are owed. restructure overseas debt is part of efforts to support the economy amid coronavirus disruptions. coming up, we will eek to the imf china mission chief ahead of what is expected to be an unprecedented contraction and growth. we will get a preview of the gdp numbers. this is bloomberg. ♪

haidi: the scale of the task facing china's policy makers will be laid bare when the gdp is set to show a historic slump. experts expect a 6% decline. when it comes to the numbers, some estimates are as bad as a contraction of 16%. let's head across to washington

where the imf mission chief for china is standing by with us. great to have you with us. the data sets we are getting in, it is backward looking. how bad is it likely to be and more importantly, how quick and robust do you expect the rebound to be? good to be with you. it is a complicated story, but in many ways, what is coming is a function of what has already happened. the first order for china was a stunning quarter. the economy basically came to a standstill. now we are getting back to work, the so the second quarter will look at her. time, we have weaker export growth since the pandemic makes its way across the planet, there are strong politics report that is a little helpful but overall, we think growth is , so positivet 1.2%

growth but way down from the 6% we expected prior to the outbreak and clearly the worst china has seen since the .id-1970's haidi: there has been lots of conversation about what the shape of the global rick -- global economy or chinese economy would look like. we started talking about a v-shaped recovery, then a u-shaped, and all sorts of acronyms are coming up. i'm wondering what the risk is of a double-dip situation in china? there is something to this idea that there will be balance. if you put an economy on standstill and then open again and people go back to work, which is where we are in china, you will see this mechanical rebound.

under our current finance to see that rebound in the course of the year and into 2021, you will have much higher goals. just mechanically going back to normal. but there are significant risks, as you say. ,irst is clearly the virus which needs monitoring. we cannot go to work without keeping an eye on this. we need testing and we need to be flexible and adjust to this as needed. another risk is demand. we can see the shortfall in domestic demand as investors don't get confidently back into the marketplace. you can also see the global slowdown may be more than what we are assuming. in this case, policymakers will have to be ready to step in. what will consumption look like after the outbreak in china given so many people are

social distancing voluntarily? experimenta great that will be conducted in china and i think will be informative for many other countries looking at this as well. terms of theigh in path of the virus. i think consumption will have an element of catch up growth if you think about cars and other large investments people have not been making. on the other hand, there is uncertainty about the future of income, so people may be holding back a little bit. we are hoping consumption will be strengthening. services especially that are in person services, think about restaurants or movies and concerts. that will take a while before the economy goes back to the levels of activity we are used to.

focusay require much more dealing with the virus itself. i'm sure that is the kind of things policymakers have on their minds. a part of avoiding the biggest shock to the economy would be supporting the most vulnerable sectors of society. how much have we seen in china in terms of supporting these vulnerable households and really getting fund to smaller firms? i think they made a strong effort there at not only containing the virus and , but also resources mitigating the shock. a lot of the activity we have policy, waving regulators and credit the banking system,

discounting to vulnerable firms, smaller firms, mostly, i think we are quite powerful and certainly have helped to mitigate the impact of the crisis. that is what we are thinking about as we hope for a recovery starting now, that the resources are still in place and as we have reached those smaller firms, they are ready to pick up where they left when the outbreak started. haidi: does this situation creates challenges for the structural reforms within china? clearly for some policy reforms like the deleveraging campaign, that is no longer going to be the priority, with the priority being getting back to growth. >> that is a great question.

the challenge for china returning to growth at this moment is clearly that we have slightly less strong global demand at a moment where the economy is ready to go back to work. so the full question of domestically anchored growth comes into play and china has made some progress to implementing strong reforms in this area in the past, sort of less reliant on investment, less reliant on credit, more reliance on consumption services. this whole idea of more sustainable growth is important here. we think this is something to keep in mind, especially should growth fall short of our current baseline in china. policymakers should keep an eye on this and look for ways to support growth that is a little more careful and more targeted than in the past. there are much fewer

opportunities out there to go for blunt, large-scale infrastructure and the opportunities of the right kind to think about investing in health care capacity, infrastructure, reinvestment, we should think about strengthening the social safety nets. this kind of activity is what should be on policymakers minds as they face uncertainties about growth going forward. thank you very much. joining us from washington. coming up, we will have more perspective on china's gdp later with morgan stanley's achieve -- all ofomist and them at joining us on bloomberg a little later. this is bloomberg. ♪

shery: let's get a quick check on the markets. we are seeing an upside in u.s. futures as president trump just announced he is opening up america again -- federal guidelines to reopen the economy. we are seeing u.s. futures seeing an upside of 3.1%, accelerating gains, session highs in early trading at the moment. qe stocks gaining ground for a fourth consecutive session, the highest level since march 11. we are seeing upside for nikkei futures as we continue to hear

about plans to reopen the american economy. president trump saying the u.s. has passed the peak in new virus cases, but come of course, we do know this is not necessarily the case around the world. surgingseen more cases in singapore, not to mention that japan has now extended and expanded its state of emergency. let's go to japan because prime minister shinzo abe is preparing to rush through more stringent measures to counter the coronavirus and its economic fallout, including expanding the state of emergency nationwide. stephen engle joins us on the line. some have said japan acted too late. it is prime minister abe now playing catch-up? >> his voter support numbers have definitely fallen over the last three months over this could -- with this epidemic. with his step seen as inadequate or slow. with that because he wanted to

save the olympic games which are now postponed by a year or because they honestly felt they had it contained to various customers? polls have indicated that people feel the national emergency he is going to expand nationwide should have been made earlier. the latest poll from earlier this week indicates support for his cabinet has fallen to 42%. cases, more than 8600 170 eight deaths. that is fewest among the g7 nations, but the worry is we could see an explosion of cases. japan has under-tested and they have not been locking down cities harder. that has been the criticism. the more stringent measures you just mentioned, they are going to take that existing state of emergency of seven prefectures and going to expand it nationwide to may 6. the concern is they have the golden week holiday coming up in early may and they want to

prevent the spread of infections. also, they are going to change the extra budget to allow bigger cash handouts to individuals, not just households. in the u.k., we are hearing sharp language from the foreign secretary, dominic raab, who is standing in for the prime minister while he continues to recover from the coronavirus. he is saying the u.k. may have to rethink its relationships with china because of the virus. what is the narrative here? >> pretty sharp words. he said it could no longer be business as usual with china once the pandemic is over. he says there has been good cooperation with china in terms of repatriation of writs in china during the epidemic and the procurement of medical supplies. but he says there are hard questions that need to be answered about how the outbreak

started. that's a similar narrative among conservatives in the united states as well. he says there needs to be a deep dive after this event and including the outbreak of the virus. other tories in the u.k. have expressed similar concern because they feel china doesn't play by their rules. that was according to a former tory leader and foreign secretary. he has been very critical of china. even the foreign affairs committee's warning of a disinformation campaign coming from beijing. but china all along has said there is no evidence the outbreak started there. the u.k. has one of the highest death rates among confirmed deaths, 13,000 plus 104,444 cases. shery: thank you very much for that. let's get you to that press conference from president trump at the white house.

president trump saying he will let the governors announce their reopening plans as he just laid out he is opening up america again, federal guidelines on how to reopen the economy. he is also saying some states are able to start reopening literally tomorrow, saying large sections of the u.s. can think about opening. he's also saying he hopes for action on small business relief loans. aidourse, we have seen funds for small businesses already run out this week. continue to hear from the president, optimism u.s. has passed the peak in new virus cases. coming up in the next we will get the outlook when it comes to this uncertain earnings season. more to come in "daybreak asia" as we continue to count you down

to the start of closing and u.s. futures continuing to the upside on optimism of a reopening. this is bloomberg. ♪

shery: welcome to "daybreak asia ." i am shery ahn in new york. haidi: i am haidi stroud-watts in sydney. we are counting down to asia's major market opens. these are your top stories this hour. stocks are rising as president trump sees america headed back to work in the next month. futures are also lifted by news that boeing is ready to resume production. we all may end a volatile week -- oil may end a volatile week.