is there. buyer's remorse. this is the one business show you can't afford to miss. in washington coming up oil continues to dominate headlines on wall street earnings reports may be giving even more bad news the businesses are eager to reopen but will explain what that means for mass testing workers thank you not only for both swag and says it's ready to pay up for. we have a packed show for you today so let's go and dive right in. the

world health organization warns the worst of the krona virus pandemic is still ahead global infections down at more than 2500000 with the death toll more than 175000 w h o h o spokeswoman for delicate said all available evidence suggests the virus has an animal origin and is not a manipulated or constructed virus in the lab or somewhere else this comes after president trump's recent comments on determining whether the virus originated from a lab in one china well meanwhile singapore announced its plan to extend the walk down by another 4 weeks the move comes after a sharp surge in corona virus cases in just the latest days. we will implement these type of measures on to the floor for me. but we will not be able to

completely lift the restrictions after that and go back to business as usual. we will therefore extend this circuit breaker for 4 more weeks beyond that for me in other words until the 1st of june. then provided we have brought the community numbers down we can make further just and consider easing some measures well meanwhile iraqi officials scaled back the 24 hour curfew imposed to contain the spread of the chrono virus the new measures have a curfew from 7 pm until 6 am local time and they will remain in place until may 11th this comes days before the start of ramadan the holiest month in the islamic calendar traditionally involves a large gatherings will these large gatherings are still restricted but some shops will be allowed to reopen while some european countries are easing restrictions germany has warned of a possible 2nd wave of countries disease control center emphasized the seriousness

of the situation. the less we prevent the virus from jumping from person to person through our behavior the more the virus will fall to its actual reproduction rate the basic reproduction rate the rate that occurs when no measures are taken and that is somewhere between 2 and 3 in other words if we all now pretend that the problem has been overcome we will have another outbreak that is quite certain well brazil has the largest number of infections in south america they have more than 40000 the death toll more than 2500 brazilian president. continues to clash with state governors who have imposed these walked onto a wall. has come under criticism for joining these protesters and want social isolation policies to end this week the u.s. . it is still the country with the largest number of confirmed cases globally with more than 810000 factions on the death toll now more than 43000 governors of

georgia south carolina and tennessee all said they will scale back restrictions and they plan to reopen businesses by this week this comes as governors and president trump continue to quarrel on how and when to reopen state economies on tuesday new york governor andrew cuomo is scheduled to meet with president trump to discuss more testing the tri-state that's full top $20000.00 states are still struggling to get their hands on these tests meanwhile president trump announced his plans to temporarily suspend immigration into the united states as a country paddles the pandemic but for more numbers and information on the coronavirus be sure to check our portable dock t.v.'s and take a look at the section tracking coronavirus. the dow is plunging once again this tuesday as oil prices continue their unprecedented fall may contract went negative yesterday for the 1st time in u.s.

history but they managed to claw it their way back to positive will boom bust co-host christi i actually just plain kristie what's happening in the oil markets this tuesday. well what's of concern to investors now on tuesday is that there's even more selling now occurring in the back months to june contract is the most active trading down over 40 percent today meanwhile brant crude also traded down about 23 percent below its support level of $20.00 per barrel so as storage continues to fill up prices could try at extremely depressed levels for the foreseeable future the main u.s. storage hub in cushing oklahoma where the beach i expect to be full within weeks so even as opec oil production cuts kick in and may those 10 percent cut will barely make a dent as global demand has dropped more than 30 percent meanwhile u.s. shell produces a fast approaching the point where they'll be forced to shut down operations now president from called on the government to make fun of bail. well 2 u.s. oil and gas industry after promising in a tweet that he quote would never let the great us oil and gas industry down so

currently is unclear exactly what will happen but it's actually he is allowing the donkey firms to live longer and produce more oil basically adding to the worsening situation so as the old saying goes the old the only cure for low oil prices are even lower oil prices so in that environment the us with its high costs producers is just not competitive well kristie oil prices went negative what does that mean for this for this going forward. so basically as futures contracts expire they tend to converge with the realities of the physical market and as he says or space is running out the physical market is so overwhelmed at this point so as many of the paper traders are unable to actually accept physical delivery traders ended up paying someone to take oil off their hands so while the may contract was an anomaly who's to say that the june contract won't be equally catastrophic it is currently down over 40 percent today and there's still the issue of the others on market surplus and then there's the issue of the negative impact

of investors rolling over their june to july contract and we saw all of that curve yesterday and we also just all the u.s.o. who filed to restructure today that they're holding 40 percent of its portfolio in june contract 55 percent in july contract and 5 percent in august so that's any can indication at all it shows that the downward pressure and the june contract will continue to accelerate well even then that we're going to see a big change in the coming months that we we have a few big earnings reports that were out today some of the big ones i.b.m. and coca-cola how did they do. so i.b.m. record earnings and things like tech is not immune to the slowdown i had started to basically every single corner of the economy so while top q one earnings issued a warning for the rest of 20 twentieth's clients and they had pause revenue to create 3.4 percent year over year a software sales slowed and then as a result the entire tech software e.t.f. the ticker i g v. they traded down more than 4 percent was her x. sales force more to networking and more software leading the decline coca-cola as

a consumer staple also wasn't safe they also announced a a while of course did earnings beats it with drew as a note for past citing of the closure of movie theaters restaurants is severely hurting business with bowling to have plunged over 25 percent so while it got a short term from consumers hoarding stable then beverages from grocery stores the impact of these closures is going to be material and 2nd quarter earnings the company also reiterated that it's also cutting costs where are a possible aka slashing marketing dollars and as coca-cola being one of the biggest ad buyers in the world that not spending on marketing will have been your implication for all of those downstream shares are now turning down over 2 percent today despite the well for more on this we want to bring this up of a trading todd horowitz thank you for being with us today i want to start with this almost breaking news a $450000000000.00 stimulus bill that congress has just reached a deal it looks like it's about to go to the senate now if passed even if passed if

economies remain closed the still may not be enough when you see another possible stimulus bill coming in and how much. well you have to do and things drive me back it was i hope they stop with the stimulus bills and start to open the economy the only cure for what's going on is actually people going back to work is stimulating the velocity of money if money is just going to be given out and people are going to put it in their pocket or buy groceries or that we're not going to see any growth we're not going to see any improvement in this vicious cycle that we're in that has been created by a lot of this ridiculous stimulus is going to continue we need to get the economy back open we need to get people going back out again again i understand the social distancing and all the other things but you cannot cure a pandemic by destroying the economy and killing the wealth of everybody so they really they need to get the economy open another growth well that's what a lot of states are. are starting to do a lot of states in the south including georgia but thought oil is really what's

driving the market right now right i mean this morning the u.s. so e.t.f. now they suspended the creation of these new baskets there's a lack of demand it's a serious issue this is one of the biggest retail oil e.t.s. and they're basically transforming the u.s. so into a closed end fund so why did they do that what's happening there and are they even are they in danger of blowing up. well you know a cell will blow up. the the measure of the e.t.f. itself is not designed for physical delivery is not designed to handle what's called the backwardation tangle patterns that appear and if you look at oil you can see that general right now they close about 1350 whereas july oil is about 18 and if you go farther out we get into the twenty's thirty's and even the forty's and some months now again you're saying is the we're sure the hope that we're going to see some growth but you and mentioned earlier that could you see june go negative as well listen if we don't get some growth start to take

a member there you could very well in 30 days from now see june go negative when we get close to delivery because again this is what happens when people have to get out yesterday's disaster was more of a forced liquidation through a lot of places and i assure you we'll hear in the next couple of days of a couple of firms that are going bankrupt because of this force of what they said they were very justly which drove the price to minus $40.00 a barrel minus $40.00 that's a new record a record low for the u.s. president trump says he want to allow it to happen again basically he wants to salvage this kristie let me turn to you a ton of traders that got burned in this oil trade do we know who those those those people are those those the copper and. well as todd just point out the u.s. willy wasn't meant for physical delivery and so they're for the u.s. so it's primarily dominated by retail investors it's basically an e.t.f. which is a really popular what about me tell investors can kind of gain exposure to oil so we'll auto traders they typically never key positions into expiry and that's when liquidity really drives up the telestrator is on the other hand how are all the

side of the u.s. in recent weeks given the very depressed prices all going to make a quick pop and a quick scout and you know that surge and that represent about 30 percent of the deputy i contract outstanding and they were the ones stuck holding the hot potato what all the music stopped playing at today the retail players were still along the contract into this week as todd. they were forced into liquidation because they don't systematically roll their products they don't roll over to the next month and therefore they were basically forced to sell into clothes and still basically only that it's up for a huge loss they actually went negative because they held a contract that they did not understand not realizing that it could go negative definitely not realizing it could go negative but it certainly did but kristie i want to get one last question in in the midst of chill bank has now launched its pilot program for digital r. and b. across 4 cities it's been working on this for years china has been against the coin as well though banning it several years ago what's the latest here so they're

currently conducting a pilot program and for city center. trying to and shell and now this isn't really a real crypto currency like what we've been talking about it's basically a central bank back digital currency is the b.b.c. and while the application is quite impressive it does allow for faster processing rates and all that it does go fundamentally against everything that the currently stands for so with all transactions will be monitored and stored and if you go slow essential you have instant access to people's wallets even in the rural areas so china hasn't officially announced a timeline for launching its digital r. and b. but secular action is building are ready as you can see acidic bank analysts noted that the total size of trying to digital currency could reach $140000000000.00 over the coming years and that's going to be going to about. market definitely interesting how this will play out we have about 45 2nd answer talk i want to get your take are we expecting to see and retest the lows that we saw in march and the

market as we keep getting hit with the negative numbers. i think of the remain negative and i believe that you will do well take out the lows and we should at the end of day go much lower before we start to really go higher another chance to make new highs well it's definitely been a roller coaster hopefully it will become somewhat study in the coming weeks if not months co-host christi i thought horwitz of the trading thank you so much for your time. and. time now for a quick break but hang here because when we return companies are looking to get back to business but it may take a lot of testing and workers that wehling it to actually take them before it can actually happen well as we go to break here the numbers are.

just got 20 or 30000000 people unemployed now the question is why they will say why don't they have a savings that's a very important question that we need to look at. seems wrong. to me you get to shape out these days you can get educated and engaged with equals betrayal.

when so many find themselves worlds apart. just to look for common ground. so i mean this is to plan the chain on the stone. but you. know. it's all. your bullet show will still be what. you preach not.

to call it. as a number of states are beginning to release their stay at home orders more and more employees that will be allowed to head back to work while obviously the coronavirus will remain a serious concern for employers so what should be done to detect it will can employers mandate virus testing for employees or should they well according to tech crunch the notion of testing employees does not or poise who don't exhibit symptoms has been a less pressing question however due in no small part to a limited availability of testing kits but as the w.h.o. c.d.c. and other organizations have made abundantly clear it's entirely possible to cure the virus while remaining asymptomatic fact that's made the novel coronavirus all

the more scary well joining us now to discuss is gone bust. and so on but obviously employers must abide by e.e.o.c. rules as well as hipaa laws but the most basic question here is can an employer require employees to be tested for the coronavirus. well that's that's kind of the question right now is whether or not you can or cannot the 88 the american with disabilities act. centrally lays out some of the things you can and cannot do and so there are some rules about how employers can conduct themselves for instance in the case of the coronavirus an employer could ask an employee if they have been exhibiting symptoms of the coronavirus something like fever chills body aches those kinds of things you could ask those questions is nothing wrong with that in theory you could also test employees though there's a big question about whether or not you could mandate testing but here's what's important is that according to 88 guidelines right now you cannot legally fire someone who has the corona virus so if someone does come down with the virus they

cannot be terminated for it so the question would become if you you know someone refuses the test can you then fire them for refusing the test if you can't fire them for having the virus that's where it gets a little bit tricky we know amazon jeff bezos told shareholders last year they that the company was starting to gather the equipment that it needs to build a coven 1000 test thing labs for its employees and the company has deployed a redeployed a team of scientists procurement specialists and some software engineers to work on a lab for testing these out front line workers could we see other employees follow through and really create their own testing facilities i don't think it's very likely that most employers will do this 1st of all the cost of this would be enormous of course amazon just you know has so much money doesn't know what to do with it so they can pretty much do whatever they want and jeff bezos is just a strange man who likes to do these kinds of things right he loves the idea i'm going to test every employee and we're going to monitor our for your standing from someone else what's more likely to happen in the short term is that there might be

in office buildings you know kind of a temporary testing site set up was you know this one article that essentially said in the future we could have employees required to come in to work earlier than usual so they can go through a testing facility be tested in like the lobby of their office building and then within a few minutes know whether they can go upstairs and go to work. there is so much for t associated with that though after a short amount of time i mean how how long can you carry that on it might happen for a short time but in the long run i don't see employees or employers either paying for or wanting to go through this for months or even years on it it's a lot of time we already see some business you know the office is doing at temperature checks but that's that's a little bit different that's obviously they have the monitor to be able to do so something like doing the actual code in 1000 testing well and where to have a shortage of tests right now so how how can this event happen that's right and one of the things on that you know remember that a lot of people can be asymptomatic with coronavirus so you can't just check for fevers you would have to do a if you're going to do this and make it fair you have to test every one of the

cost of that for companies i mean every company and every business in america get a pay for test test everyone every day it's not even practice like you said it amazon has the money to do it that that that's the reason they're doing it let me get one more question and cheetah is expected to issue the world's 1st immunity passports this is to people who have recovered from the krona virus are going to make them exempt from quarantines and some other restrictions are we going to see other countries follow suit. does 2 they say that they're going to issue these passports essentially saying you have contracted coronavirus you're better now remember that 'd dr anthony felt she who from the end i choose essential a kind of running point on this the drug administration eluded to immunity cards that people could be carrying in the future which again is kind of a crazy idea because number one it requires that if you get corona virus that you can get it again we don't even know that that's the case and number 2 what i think they're actually alluding to is people who have been vaccinated but again just because you get a vaccine doesn't mean you can't and it can track something because of the thing

our it's absolutely there's already talk that corona virus is mutating so i think the whole concept is nutty to begin with you certainly don't want to see that here in the u.s. and with other coronaviruses typically what you do is you you develop these antibodies and they last anywhere from 2 to 6 months like you said does that mean that you can't get it again we don't know co-host ben swan thank you for that sort of things. chairman auto maker of folks wagon is settling hundreds of thousands of lawsuits brought by car owner for rigging diesel emission tests the company must now pay millions more over the cheating scandal which broke 5 years ago and continues to impact other carmakers around the world here now with more is legal journalist molly bear with america's lawyer who has been following the story molly thank you for being with us today how many claims were brought in this class action lawsuit. has there will in this particular settlement it's about 2 160000 claims in the settlement covers 200000 of them about 3 quarters other cases are

still under review those owners could get payouts of somewhere around between $1500.00 a car or almost $7000.00 a car depending on the age and model of the vehicle the company has paid almost $700000000.00 sarat to settle this particular lawsuit incenses scandal broke it's cost the company 30000000000 to address it also with fines and refitting the software there are another 8000000 vehicles involved in europe. erminie is signing up in the 10s of thousands of clients as well on a no win no fee claim basis so this isn't going away anytime soon and laws are a little bit different in germany than they are here in the united states but it is a difficult time because of the coronavirus where people are wanting to just take the settlement because they need the money but how did this cheating scandal work. oh basically carmakers worked with a software company to manipulate the data in the vehicle so that it would look like the diesel missions were at or below acceptable level when in fact were they not

only over they were way over like 40 times over in some cases what they should have been and that rig software was discovered during routine investigations and exposed even the company that helped create the software was fined like a 100000000 dollars i believe in that particular scandal so it's an ongoing issue and like you said lots of folks need the cash they may be willing to settle quicker than they might have otherwise exactly even though apparently google and facebook are now placing ads in germany for this no win no fee for an order for them to to help claimants for now but are there any other carmakers now facing any similar situations. yes the more i dug into this and spoke with one of the american attorneys that's handling this investigation there's off firms all over the. now part of of a coalition they formed called the diesel emissions justice foundation in the netherlands and looking into it talking today this is pretty big it impacts a lot of manufacturers they're representing car owners who had the v.w.

they're also representing car owners who used other vehicles as well like big manufacturers or sadie's b.m.w. fia chrysler they're all involved in this a lot of them use the same exact rig cheating software and they're seeking compensation on behalf of those car owners there are other companies that are being investigated but not named as well and a lot of these companies are in different stages of settling in different countries v.w. have settled in the u.s. it's ongoing for mercedes and b.m.w. we talked about germany they are settling there on an ad hoc basis and they're working out a settlement now in australia so there's a lot going on with this case well auto sector is already hurting due to the coronavirus so this even having a greater impact on them molly barrows contributor with america's lawyer thank you for your time today. many types of life celebrations have been canceled due to the krona virus this includes weddings well of you're one of the couples whose wedding was canceled and you happen to live in the new york state well there's good news

over the weekend new york governor andrew cuomo signed an executive order allowing new yorkers to obtain a marriage license remotely almost new york marriage bureaus have been closed for weeks and are not able to issue licenses during a briefing governor cuomo said video marriages ceremonies there's now no excuse when the question comes up for marriage no excuse you can do it by a zoom yes or no while brides and grooms have chosen to keep their wedding day new yorkers are able to process the necessary paperwork be a video. county ohio on the state of colorado have also taken similar measures so remember there's no excuse when it comes to saying i do well that's it for this time you can catch boom bust on demand on the brand new portable t.v. available on smartphones through google play on the apple app store by searching portable t.v. stream us to your t.v. by downloading the portable t.v.'s on apple t.v. and online a portable t.v. and as always check this out on youtube dot com slash boom bust r.t.c. a next time.

has changed. the pharmaceutical companies have a miraculous solution. based drugs talk to people who are chronic pain patients and believe that their opioid prescription is working for them on the remedy. to. price at the. lesser dependence and addiction. to long term use that really isn't scientifically just right now a study actually suggested. the long term effects might not. just be absence of benefit but actually the body by because we want to. posture a lackluster primary democrats and their media friends have decided on joe biden as

their party nominee is he'll left a bowl will the progressive's fall in line what is joe offering voters in will the d.n.c. experience buyer's remorse come november. this

is a story about what happens auster a stray bullet kills a young girl in the street. what happens to her family and daughters in florida. the mother daughter is buried in a cemetery is healing messes with your head what happens to the community the public was screaming for a scapegoat the police needed a scapegoat so why not choose a 19 year old black kid with a criminal record who better to pin this on than him and what happens in court be be. shot after shot as far off as i feel. we don't know who killed genesis for. the end of this unfortunately you. will still not know who killed just for.

the. coronavirus climate change and concerns about reopening the united states too soon will cover all the angles on this or picture taking. what the politicking on larry king. and baby jr will join us to talk about his environmental activism in the time of colbert 19 but 1st the virus has our shit in economic anxieties unemployment woes and need for federal government action to help people who are struggling chris lou joins us for the lead in congress ation on this edition of politics a veteran of the obama administration he served as deputy secretary of labor in.