this is a boom bust the one business show you can't afford to miss. in washington coming up oil futures dropped to record lows dipping below 0 putting new unknowns in the market and to take on amazon and microsoft as the competition for the cloud then boeing look to get back to work at a washington state factory but it is far from the usual. today so let's go and die right.

krone virus has infected more than 2400000 people globally it's taken more than 160000 lives while some countries are seeing a flattening curve others are still seeing a surge in new cases coppa 19 has infected more than 766000 americans while deaths in the u.s. have top 40000 new york state which is finally seeing a drop in new cases announced that it's going to begin aggressive statewide antibody testing this week protests continue across the u.s. over shelter in place orders amid pressure on governors to reopen local economies at sunday's briefing president said that he'll use the defense production act to increase manufacturing of testing swabs while working with governors to reopen their economies over the governor's doing a better job than others. the robust capacity that we've brought online will

empower governors to deploy sophisticated strategies so they can safely reopen their states. some people believe in test play and other people believe in it less strongly but still it's a very good thing to have that you must remember that the governors wanted to have total control over the opening of their states but now they want to have us the federal government do the testing and again testing is is local you can't have it both ways where us governors are in conflict with president trump and say that testing is still an adequate and not adequate enough to lift restrictions or president trump raise the question whether china was knowingly responsible for the global spread of the coronavirus on monday china's ministry of foreign affairs spokesperson gang schwab responded by calling for international unity. would die young like other countries china has been attacked by the virus and is also a victim of the virus we are not the corporate nor the accomplice of the virus in

the face of a major public health crisis and threats of infectious diseases the international community should stay united rather than blaming each other for rushing to hold someone accountable or demanding compensation i don't remember where there was such an international practice before so people united states must understand that their enemy is the buyer is not china. well some countries in europe are seeing signs that the coven $1000.00 infections are slowing germany is reopening shops and easing restrictions as a country toll fell by more than 60 percent in just 2 days and the u.k. reached its lowest daily death toll in nearly 2 weeks but education secretary said there are no plans to open schools by summer time on sunday france reported 395 deaths its lowest number in nearly 3 weeks while italy reported $433.00 deaths its lowest in 7 days meanwhile some businesses in iran reopened as the country's daily

death toll fell to $73.00 though this is the lowest in more than a month but other countries are seeing an increase in its numbers singapore for example reported more than 1400 new cases in just one day raising the total to more than 8000 from the 6500 reported on sunday well peru reported 15000 new confirmed cases but for context here the country reported its 1st case on march 6th and it took 25 days for infections so then to reach 1000 was so far peru has more than 15000 cases and 400 deaths brazil is the only other country in latin america with more cases than peru but for more numbers and information on the coronavirus be sure to check out our portable the t.v. up and look for the section trucking coronavirus. now we reported 2 weeks ago that this historic oil deal was nothing more than political the actrix making a whole lot of much ado about nothing well we said that it was not enough to

counter the record inventory buildup and that prices will crush even more as the steel doesn't even make a dent well for a breakdown of how markets are starting this week let's turn to boone both co-host chris while the chips are down today as oil plunges below 0 kristie we're seeing negative values here for the 1st time in u.s. history what's happening with oil. well is there this is on record the biggest plunge ever that we're standing by we're down over 300 percent today from a to b t i contract now this price dynamic happens when producers actually have to pay to have someone take the cruise as the cause is less then shutting down all of production so kind of you know that the this is the environment that we're living in this world where we live and have negative carry on crude and also negative interest rates those kind of a very interesting time in modern economics and now today we have the front and one just morning and we've been saying for weeks came true that supply has far outpaced the man which has fallen and $36000000.00 barrels per day and now are coming close

out of storage so global oil stored on land and the is rapidly filling up and is currently estimated to have exceeded 70 percent brant however is very a little bit better as it is a waterborne crude and tanker storage is still accessible however in contrast the b.t.i. is completely landlocked in the us in canada and russia and about 500 miles from water brant is still under considerable pressure today down 6 percent but is likely to find some sort of support at $20.00 per barrel given its strategic location so the main contract will expire tomorrow on tuesday but right now the entire front end of the futures curves look just as ugly the spread between front months is now at the widest ever in history of speculators and paper traders roll their contract out well kristie the u.s. equities market also continues to remain extremely volatile as it tries to find some direction what's happening there. well we looked last a bit today as the market attempted to stage a rally midday as we got some indications that the pandemic is getting under

control in the u.s. and that seems to be the near term issue on everybody's mind but then as we look a little bit further earnings and the aftermath then come into focus and that's when you start seeing the market get sold off again on the back of oil so right now the instability and oil markets bled over into equities and we thought into the close with the industrial heavy dow taking the biggest hit down over 2 percent. the tech focus cues however seemed to fare a little bit better down about one percent short sellers are now also coming back as the latest earnings and data brought to light the devastating toll of coban 19 as had on the economy this recent rally was in large part due to a short squeeze as a huge stimulus package was passed in the 11th hour but now that's been shown to merely delayed the downturn the shorts are back stacking up bets against the s. and p. short interest rose to $16000000000.00 last week which is now the highest level in data going back to 2016 with the most heavily short companies now all within travel and retail well chrissy you mentioned the relief package that the trumpet

restoration has said will be reached that deal by monday there seems to be more relief coming to this small businesses and assistance to local state and governments what do we know about that. so now after much pleading for additional assistance the administration is closing in on another aid bill to further help small businesses and hospitals around the country so it is now expected to include another 310000000000 dollars for the p.p.p. program and out last wednesday in order to help small businesses survive the outbreak is also expected provide another $75000000000.00 for hospitals and $25000000000.00 in testing now these measures are meant to be a bridge between phase 3 and face for their billing measures merely extending the lifeline a little bit more to get the funds to those who urgently need the aid now or is what will include a big spending package and analysts estimate could cost about $1.00 trillion dollars as it will provide assistance to states and municipalities as well we're looking for more stimulus help on this but for more analysis we are joined by tio

and chief strategist for cool intelligence and former federal reserve insider danielle de martino danielle thank you for joining us today more stimulus actually is it going to help at this point are these packages even being deployed correctly or is all this just a little bit too late and extending the rope for a little bit more and just trying to delay the eventual crash that many people are expecting. well you know what's interesting is that if you look at the p.p.p. loans that were distributed from the original 349000000070 percent of them were for less for $350000.00 dollars 1 or less so it's apparent that the bulk of the day the demand was coming from very small companies even though we've seen some splashy headlines about much larger companies that have been able to get much larger loans so i think that i i'm hoping the government has learned its lesson that it needed a separate program for really larger companies maybe that is what the federal reserve's main street lending program will do but because the funds initially were

exhausted you have to think that there's a backlog of applications sitting at u.s. banks right now that are ready to go the minute congress approves and we get we get the extra stimulus signed into law well yes especially as you said because it definitely looks like the small businesses really were not solely taken out you have companies like chris who just returned their money and you know a lot of these mid-sized retailers are really just getting screwed here now they don't qualify for a lot of these programs as it is they're too big to qualify for the s b a's and they are too distressed to qualify them for the the primary market corporate credit facility that's aimed at these larger companies there are companies like macy's and even markets that are being forced to then go into bankruptcy what's going to happen to this industry if they don't receive the 8 now these retail accounts for the largest private sector employer. you're right it is

the largest employer in the nation and that's what makes this that much more of a tragedy unfortunately i would say the coronavirus has acted as kind of an accelerant that you would but i want to fire neiman marcus it was well known last year was desperately struggling with an overhang of debt it had been you know its balance sheet was in a tatters so we knew that neiman marcus would be the 1st one to declare bankruptcy . if there was any kind of a red swan or even worse a black swan event of this magnitude and other major retailers such as macy's for years have been kind of doing this slow drip methodology of closing down stores 100 here and 100 there as opposed to really right sizing the company to what demand was for their traditional kinds of department stores again it's tragic and it's awful and i hate to see these people lose their jobs and i do hope that the extra amount of unemployment insurance that is available via stimulus is of assistance to

them but again these some of these retail deaths have been a long time coming a lot of people now also turning to online shopping in the last couple years but even more so now because they are still still selling rather than they're saying the department stores will no longer not necessarily not exist but they are dying down but kristie earnings week continues as we have the group of major airlines that are reporting this week we all know that it's not going to be good give us a preview of really what's to come. well i don't think you the bat. and i guess just to put things in perspective in january there was about an average of over 100000 flights every single day flying worldwide now last week there were only 28000 flights so in the u.s. domestic life average only just 10 passengers her flight and every single carrier has now been scrambling to cut the cost and now entire sleeping around it was booking revenues down over 100 percent year over year so we know things are bad and

not looking to recover any time soon the airline industry on average takes about 4 years to recover from any sort of shock i've seen from 911 so we want expect to hear anything good come from them now but the biggest focus will be the aftermath what will the company be doing to rightsize the operation and the fleet once the coronavirus over what efficiency measures will be in place and certainly a social distancing becomes more of the norm now these days downsizing to cram more capacity won't be an option anymore for airlines where lines are definitely struggling we have about a minute left but christine let me get this question and despite oil cratering what's really holding the companies are the markets for now they traded pretty flat today. while they try pretty flat but you saw the fang stocks actually gain a lot decliners lead advancers $3.00 to $1.00 and even so a lot of the tech stocks still managed to stay afloat so you have amazon and netflix both the clear winners however coming into arnie's facebook might be a completely different story as they generate most of their earnings on at and as companies are struggling to stay afloat spending more money on as an ad read in

commercial is the last thing on everybody's minds we must co-host christiane and former fed and fire daniel de martino both thank you so much i mean only time will tell like we've been saying for the last couple weeks but markets seem to be. holding pretty well except for unfortunately or oil all time lows hopefully we can come back from this and not in the slow recovery that we were expecting but time now for a quick break but hang here because when we return as more people and companies go online to work competition is growing for cloud compute. and maybe looking to make a run at amazon and even microsoft as we go to break here the numbers out that.

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a very important question that we need to look into. is your media a reflection of reality. in a world transformed. what will make you feel safe. isolation full community. are you going the right way or are you being led. direct. what is truth what is faith. in a world corrupted you need to descend. to join us in the depths. or in maine in the shallows.

there's no question that the coronavirus is indeed changing the way that businesses operate and it's also placing new focus on digital economies as well one example of that is the new focus that online marketplace is now placing on building out its cloud computing division the global leaders in that space are amazon and microsoft

is now going to make a major run at them joining us to discuss is an investigative journalist ben swan ben what kind of financial commitment are we talking about here by. well actually it's a pretty massive commitment we're talking about the equivalent of about $28000000000.00 of alibaba is going to roll into cloud computing essentially saying that this is the next frontier this is where the company needs to be and they're making this kind of double down investment as you just said based on the fact that they say with the coronavirus right now that there is more of an opportunity in this digital space all bob as we know is kind of a amazon right sort of platform e-commerce online marketplace it's somewhat remarkable how ali baba sees its future is now back in $20000.00 daniel is the c.e.o. of alibaba towards the end we see quote i think cloud will be the main business of ali baba in the future and quote this was back in 20 but why are companies like amazon so focused on these cloud services. well because it's

a massive new space and there's so much room and so you still consider the fact as you said that alibaba and amazon are essentially the same company in terms of being these online retailers where you go in there and your you buy stuff online have a sense your home what's interesting about these companies is they have very similar trajectories in these other spaces they want to involve themselves in the difference between amazon amazon an hourly bob is that alibaba is primarily has its strength in obviously asian markets and specifically in china the number one market place in china and was on globally is larger in this space and certainly globally larger in terms of cloud computing but that's where alibaba sees an opportunity so they're saying this is a $100000000000.00 opportunity just in china itself to take over all that cloud computing because what they're seeing is the move from so many companies to move over to these kinds of businesses that competition where things are comparing it to amazon but how important has cloud services like amazon a to the u.s.

then become now to that company well yeah and that's and that's kind of the whole point here amazon obviously is a massive company doing a lot of different things 8 of us amazon web services it's cloud service and cloud company and essentially amazon seasoning just a minute amount of profit coming from this i want you some numbers here so get this amazon web services right is the cloud division it brought in net sells of 8380000000 dollars just in the june quarter of last year of $21000.00 that's $8380000000.00 but at the same time 8 of us accounts for 60 percent of the total operating profit for all of amazon so 60 percent of that company's and higher profit is coming from just it's cloud computing not from the stuff that you're ordering online and you would think that the opposite actually here so that alibaba really is giving amazon and microsoft as well a run for their money we'll see how well they do but they seem to be looking like

they're. be prepared for this boom bust cohost and so on thank you very much sir things. playmaker giant boeing is in the headlines once again will now battling its $737.00 max order cut that's right china just cancelled an order of $29.00 undelivered $737.00 s. boeing shares fell more than 3 percent on monday but boeing has lost more than half of its value this year and for more we bring in our t. correspondent. thanks for being here why the sudden move from china well sarah basically the short answer is because of those 2 fatal 737 max crashes but then you also have the coronavirus you know these check this chinese company actually just released a statement saying in quote in light of evolving aviation market dynamics we've been working together with boeing over many months to recalibrate our max order book to be in line with our long term view of the market and related opportunities now the company order $29737.00 max planes as you mentioned sara and those are

priced at about $2900000000.00 apiece last year authorities ground at the max after those 2 major fatal accidents were 300 people were killed or more than 300 people and boeing was hoping to return to service this summer but the pandemic is actually virtually shut down air travel and adding more to that sara china isn't the only one to cancel their orders were talking canceling $150.00 jets alone in march but they did have an order to make $31.00 jets but those are for military aircraft and one is actually a freighter for fed ex but then just in the past day you had a big order come in from germany with the country's defense minister confirming their decision of ordering 30 f. 18 super hornets and 15 growlers now boeing did report to the hong kong stock exchange that it also has 70 orders for the max planes but they will be changed to these smaller max versions and 20 of those planes will actually be delayed until 202-420-2520 extension 26 want to go and we know that 737 max has been

a ground for quite a while they. trying to get that back in the air since the possible but fair in washington state specifically the seattle region was one of the hardest hit by the coronavirus at least at the beginning boeing's 1st person said that there will be safety precautions in place they're going to reopen their boeing facilities there but employees will be tested for the virus right you're in you're talking $100.00 or 161000 employees but 27000 are actually going to be going back but it's not going to be business as usual for those workers boeing is the very 1st business actually on a large scale to get back to work since this all broke out but it's not going to be business as usual now during the weeks long shutdown boeing actually went through and did a deep cleaning at their facility near seattle but in light of the outbreak now going to have employees come in on staggered shift times there's going to be marks on the floor for that 6 foot social distancing workers going to have to wear face masks and there's also going to be wellness checks every single shift where you will see those a bolland teary temperature screenings now washington state is still under

a stay at home order but boeing's assembly operations are considered essential business which also makes them exempt now monday workers for the 737-747-6777 extension 7 those workers for those planes are going to be back at work with most of those 27000 employees returning to work by wednesday a lot of employees are hopefully we don't see a spike again in these cases in the area now part of the coronavirus stimulus bill includes $25000000000.00 right in stimulus aid boeing and how many are angered from both sides the political aisle was a 25000000000 going very well it's funny too because you know a lot of people were arguing not to give that money because they said that they were failing before this whole pandemic even started but there is going to be conditions with that 25000000000 namely that that money can only be used to continue paying their nearly 161000 employees all the way through to september which means they have can't have any job cuts or layoffs now when the bill was signed president donald trump he actually recognized boeing's failures but said that it was important to keep them afloat listen here. we have

a. great plan for the early going to keep the early to go you know it's never been a good business but it's a very vital business for the country we can't let anything happen to boeing. you know so much potential you talk about potential can everything have more potential than that. now sara boeing c.e.o. says that as far as reopening now and there are new safety measures that are in place the company is in uncharted territory and could forever change the business and the industry because of this pandemic but boeing is taking it day by day and they're hoping to come out strong and competitive throughout all and when you look at these plane makers you really have not much competition i mean there's boeing and then there's the airbus right so so boeing somehow needs to exist right in this type of of the center somebody who comes in that's going to start making planes isn't going to be a competition to boeing has been around for exactly right now you have air bus that's halted too so it's kind of like everybody's at a standstill and maybe the only possible way they can get ahead of this is by

ramping up business again and going back to work but here's the problem there ok they're good they're going back to work and yes they're taking service certain safety precautions but will that be enough and planes are grounded well that's one of the things that they were talking about is actually these assembly plants they are built to be you know very you know pristine where it's supposed to be you know that your son was supposed to be easy and they said that by adding in all these different precautions it might actually slow production a little bit because you're going to have all these other elements in there that are going to kind of get in the way of what they're used to doing well and then if they don't they end up killing or taking more money it's going to cost them a lot more and how much stimulus is the government actually going to give boeing and are we going to see them like many other industries eventually ever declare bankruptcy something that they're going to be down the stock is going to go down to $60.00 a share right now it was about $147.00 or so but we'll see we'll have to follow and continue to see because i doubt the government's going to let them sink that for

the time but you can catch boom bust on demand. on the brand new a portable t.v. smartphone through google play on the apple app store by searching. by your t.v. by downloading the portable t.v. on apple t.v. and online t.v. as always check it out on youtube dot com. see you next time. hey. coby 19 pandemic not only sees much of the world in lockdown but it is also devastation economies and demi has been painful recovery from it maybe even more painful isn't all.

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hello there i'm watching in question and broadcasting live from our team america national headquarters in washington d.c. i want to welcome our viewers from across the nation and all around the world here it's a night the top stories 1st over to new york a state with someone 13000000 people will begin aggressive antibody testing to figure out how many people were infected with kobe and 19 we'll get you a full report on that coming up plus the 1st sailor from the virus stricken u.s. that theodore roosevelt has died from cold at 19 in blong where hundreds of sailors are still being tested and quarantined in hotels having some of the locals began to worry we'll talk with someone who was on the ground to explain then boeing is reopening some of it.