bloomberg has learned the u.s. to community concluded beijing under reported both total cases and deaths. china calling that "moral slander. the pentagon is asked to provide as many as 100,000 body bags for potential civilian use. bloomberg has used the military as has learned that the military has about -- has learned that the military has about half of that on hand. and more leverage will allow a absorption of lack of liquidity for treasuries, plus there has been a surge in customer deposits during the coronavirus pandemic. we end in the u.k., where boris johnson's government is learning the cost of its coronavirus lockdown, about one million people have claimed welfare benefits there the last two weeks, almost 10 times more than normal fears. -- then normal. tosidies may be too slow stop a big jump in unemployment. global news 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in i amthan 120 countries, viviana hurtado. this is bloomberg. francine? tom? . tom

bloomberg has learned those host: sides remained far apart -- bloomberg has lowered the two sides remained far apart after the federal relief program for the business is devastated by the coronavirus has already been drained. shinzo abe has announced a nationwide state of emergency. stopping cross-border movement of people and increased social distancing. abe says it will stay in effect until may 6. japan has more than 9000 virus cases and about 150 debt secured new york city is expecting the economy to crater because of the coronavirus. the city's budget office estimates 160,000 jobs will be lost in the year in tax revenue will plunge $9.7 billion. new york city's gdp for this year is now likely to decline 4.5%. the city has been expecting the economy to grow 1.8%. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg. : thanks so much. the u.k. talked about extending its lockdown. the same thing in new york as governor cuomo he announced he will extend until may 15

bloomberg has learned that is the conclusion of the u.s. intelligence community and a classified report to the white house. the report found china has been under reporting total cases and the number of deaths. the outbreak began in china's hubei province in late 2019 but the country has publicly reported only about 82,000 cases and 3300 deaths. that is according to data compiled by johns hopkins university. the un's general assembly is weighing have to respond to the coronavirus pandemic. twoers have been sent resolutions for consideration. the most widely back calls for international cooperation by sharing information. the other, sponsored by russia calls for implementing protectionist measures. because the global body is not holding meetings, the resolution is defeated even if one country objects. germany has extended its nationwide lockdown until april 19. the governor is asking germans to avoid contact with people outside their own households to contain the spread of the coronavirus. germany has about 73,000 virus cases, the third highes

bloomberg has reported that u.s. inaigence has said that has massively underreported their numbers. what is your assessment of the real situation in china? >> we are not getting into as much of the numbers or the politics. we are talking about the science. u?w do we manage someone in ic what are the things they learned about getting people off ventilators? if you think they are going downhill, get them on a ventilator sooner than later. there have been a lot of aretical things that clinicians have been putting into play right away. you can catch that full interview at bloomberg.com. coming up, we will talk to the ceo of verizon. how well will mobile networks stand up with all of this pressure on them? we will take you to the daily briefing at the white house. president trump will start speaking there any moment. we are hearing the treasury secretary will be there as well. we will be right back. ♪ emily: welcome back to bloomberg technology. with millions of people working from home around the world, the question remai

bloomberg.this is ♪ ♪ good morning, everyone, bloomberg "surveillance." it hasn an extraordinary day. our team is spread out across the united states and united kingdom, and to go from jeffrey currie to dennis gartman, now to savita subramanian is just what this is all about. subramaniy and is -- an is here to drive the equities conversation. i have never seen the concentration in a select group of stocks within the s&p 500 and i have never seen so many people saying same thing, buy quality, you know the drill, etc., etc. radaroes the subramanian say that we are focused on seven stocks? savita: it is an interesting point. there is a herd like mentality in the market that is pseudo-bullish but only on quality. i think that we are in the beginnings of what could be a recovery process for the essence the 500, but it is a little bit early to call -- for the s&p 500, but it is a little bit early to call it soft valuations -- soft. on a pe basis are back to february highs, which is disconcerting given we are about to enter the worst postrecession war ever. u.s. large-

next,l cover that bloomberg. ♪ this is "bloomberg daybreak: europe." investor who hasstently topped peers says the asset class has never looked so promising. his emerging markets equity fund has trounced 96% of competitors. of 1200 developing nations stocks. our guest is still with us. given the fact that when we look at stimulus, all stimulus is not equal. it seems like developed markets are ahead at the moment in terms of pandemic stimulus. holdis really the time to high conviction on emerging entities? are three reasons we like emerging markets. been -- investors staying away. there are opportunities. that, emerging markets are dominated by asian markets. in the next stage, fighting this crisis. providing liquidity. supporting economists. giving people and companies back.to come reopening the economy, consumer part. they are trying to restore it, getting workers back to work. in the developed market, it is still too early. sense, emerging markets are ahead of developed markets. one of the dominant sectors is -- >> we will have to leave it there. 90% of the portfolio

a bit of a different "bloomberg surveillance." it haseen 10 days that we have -- foroadcasting from all of our technical operators around the world. arefocus is on what we seeing in terms of data. is the euro area. it will give us an indication of exactly what the economy is facing. euro area preliminary -- actually, it's not preliminary. anything below 50 indicates a contraction. let's get onto your markets quickly. thee is a lot of focus on banks after regulators have pushed a lot of u.k. banks. european stocks are down. i'm also looking at treasuries. let's get straight to bloomberg news in new york city. >> died from coronavirus. fatalities top 1000 confirmed cases in new york state. they have surpassed those in china's hubei province sticking with president trump, he said to announce the deferral of some payments. bloomberg has learned he has announced a proposal to the late some levees for six months. this would not apply to tariffs the white house has imposed as a result of action on chinese goods. topto the u.k., where officials

he also revealed former new york mayor michael bloomberg has committed $10 million to the program. new york state has seen more than 250,000 coronavirus cases. about a third of the total figure in the united states. on tuesday more ththan 5,500 ne cases were confirmed in the state with 474 deaths. >>> turning to the financial markets. oil prices and wall street stocks have clawed back some ground after recent turmoil but volatility is expected to continue as the pandemic decimates demand for crude. benchmark u.s. oil prices rose as far as $16 a b barrel at o o point on wednesday after plummeting to historic lows in previous days. the c climb came amid speculati major producers could cut more output. meanwhile, stocks closed higher on wall street after two days after losses, the recovery in oil. the dow jones industrial average climbed nearly 2% while the nasdaq deposit gained 2.8%. the s&p 500 rose about 2.3% to 2,799 points. >>> new york transit authorities have struggled over the years just to keep their trains running. they left their lines open during the crisis to get health ca

as governor, i worked with mayor bloomberg. he has developed an organization. he works with mayors all across the world, literally, providing guidance. insightremendous governmentally and from a private business sector. remember his company, bloomberg, they went through the china close down, open up, the european close down, open up. so, he has had quite a bit of experience in this area. it is a very big undertaking, and we thank him very much for taking it on, because it is going to require a lot of attention, a lot of insight, a lot of experience, and a lot of resources. we are also going to be partnering with johns hopkins vital strategies in putting operation.e tracing it will be coordinated tri-state and downstate. why downstate? because downstate operates is one area. 25%-30% of the workforce in new york city comes from outside new york city. i have a house in westchester. i work in new york city. who is supposed to trace me, westchester or new york city? if i turn up positive, my residence is in westchester county, but i work in new york city, and i would

the governor has recognized that, and since bloomberg philanthropies has deep experience and expertisepublic health, we're glad to support the state in developing and implementing a contact tracing program. as andrew said, the contact tracing is a way to identify people who may have been exposed to the virus but don't know it. and doing that requires a lot of well-trained people who are coordinated and managed effectively. it is a very big undertaking just because of the scale, so we've enlisted the best public health school in the world at johns hopkins university. no offense, but it's named the bloomberg school of public health, which our foundation works very closely with on public health and other issues. and we've also teamed up with the non-profit organizations vit vital strategies and saving lives. we are d pl deploying a small army of new york workers is really the big challenge. to recruit contact tracers, we brought in a staffing organization, and we're also teamed up with cuny and suny, both which will help identify job applicants, and i want to thank them for joining us. jo

the good news is, mayor michael bloomberg has volunteered to help us develop and implement the tracinggram. >> reporter: police in westport, connecticut, are taking to the skies to test the use of drones fitted with cameras to provide data, including social distancing, heart rate, and fever detection. beginning this week, new e.m.t. guidelines across the state of new york. paramedics are not to make life- saving attempts to unresponsive patients, essentially, do not revive, in order to protect first responders from coronavirus exposure. still, e.m.t.s in new york city say they have yet to adopt the guidelines. the city's 911 calls peaked at nearly 7,300, almost double what used to be a normal day. in recent days, they've returned to pre-coronavirus levels, around 4,000 a day. still, mostly covid calls. >> i've been with the fire department for 19 years, and i've never in my life told so many people in one day that their family is no longer going to be with them. >> reporter: every day, e.m.t. andrew brock sees the coronavirus' swift crueuelty. >> with some of them it happened so fast.

bloomberg has learned some companies could open by mid april.mark and austria were the first to european countries to loosen restrictions as governments seek to slowly reviving economies crippled by containment measures without risking a second wave of infection. global news 24 hours a day, on-air, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. shery: this is bloomberg markets. we have breaking news. france is reporting fewer virus cases but the deaths have risen sharply. 3777 new coronavirus cases have been confirmed. this is less than the previous day but when it comes to deaths, a sharp rise, as we have seen a similar trend in new york. lag new infections, so deaths have risen sharply in new york, new jersey. the biggest number of deaths as well in the u.k. a new infections seem to be slowing down. this of course leading to crisis economics to be put into full swing. we are being served an alphabet soup of jargon from the world policymakers. confus

the governor has recognized that. since bloombergopies has deep experience and expertise in public health, we're glad to support the state in developing and intomenting a contact tracing program. as andrew said, the contact tracing is a way to identify people who may have been exposed to the virus but don't know it. and doing that requires a lot of well-trained people who are coordinated and managed effectively. it is a very big undertaking just because of the scale. so we've enlisted the best public health school in the world at johns hopkins university. no offense, but it's name the bloomberg school of public health which our organization worked closely with on public health and other issues. we've also teamed up with the non-profit organizations vital strategies and resolve to save lives. to get the contact tracing program up and running has to hire first. hiring, training, deploying and managing a small army of new yorkers, as the governor said, is really the great challenge. to help the state recruit contact tracers, we brought

bloomberg has been a philanthropist to the engineering school and all of johns hopkins, and is the founder radio and tv operations. stocks up again, the vix well under 40. stay with us, a most interesting day ahead. this is bloomberg. good morning. ♪ you doing okay? yeah. this moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds. in the arms. -okay... transfer your service online in a few easy steps. now that's simple, easy, awesome. transfer your service in minutes, making moving with xfinity a breeze. visit xfinity.com/moving today. >> growth crashing in the first quarter, and markets taking this all in stride and the reopening roadmap, unveiling the guidelines for states to potentially open up, and a possible treatment from gilead gives investors a reason to buy risk. saudi arabia and russia try their version of what it takes to prop up oil prices. it falls flat. ryan lance on his

bloomberg. francine: thank you so much. we will have plenty more throughout the day on markets, and a conversation about the senate bill that has and what that means for small business enterprise in the u.s. a conversation with democratic house speaker nancy pelosi. this is bloomberg. ♪ ♪ good morning, everyone, bloomberg "surveillance." historic moments for commodity markets, particularly oil, sugar, and corn down, on the ethanol angle, and all of this will be addressed by washington. kevin cirilli joins us now. we could talk to him for about an hour. . want to talk oil fors was a lot closer vote the president than anybody thought, 53% for the president and 43% for secretary clinton. it is even more closer now. he has to respond to this crisis in oil. how do you expect the president will respond domestically to this collapse? the nextmestically, round is economic stimulus and will have to include assistance for the energy sector. yesterday i interviewed the senator from north dakota and he said as much. the next round of stimulus as likely to happen in the first round of may. the second part of this is more international and i

bloomberg has developed a unique partner and partnership on the covid-19.day we bring you an expert. we are thrilled to be joined by michelle patch, school of nursing assistant professor. we are focusing on the emotions of this all. how much more difficult all this be if we do not see -- will this be if we do not see a significant slowdown in cases, difficult for the nurses, the front liners, and everyone at home? michelle: that is a great question. nurses,entioned, our physicians, all of our health care workers are working around-the-clock right now to try and fight against this virus. what we have seen after other disasters like for instance theicanes or tornadoes, or tragedies we all experienced there are fairly predictable phases we go through collectively. it starts with the impact of the disaster when it first hits, we experience fear and confusion. difficulty believing it is even happening, and we make extraordinary efforts to protect ourselves and our families. then we move into what we see as this hero it phase where we have a great -- heroic phase

francine: bloomberg has a unique partnership with johns hopkins, one of the leading universities tryingid-19, the consequences, but measuring the data and the impact. we have a daily impact from johns hopkins university and joining us is neysa ernst, nurse manager. thank you very much. when you look at some of the concerns people have on the ground, i guess it is testing. are there enough tests in the u.s. and are they being administered correctly? neysa: that is a really good question. myting is not necessarily area of expertise because there are so many different tests. there has been a tremendous response throughout our health system as well as many other health systems to get out and aggressively test the community, and follow some of the ideas we have learned from other areas of the world that have been tackling coronavirus. francine: there have been a number of reports about ventilators, the use of ventilators, whether they are good or not. what has come up in europe is because there is a shortage of frontline medical workers, you are retraining others to do difficult procedures a

bloomberg has learned their exemptions for exports to canada and mexico. the u.s. medical system is grappling with shortages of masks and downs for health care professionals. the european union chief brexit negotiator is back at work. michel barnier had tested positive for coronavirus in march. barnier said he would hold a videoconference when u.k. brexit counterpart david's tomorrow. foss has also been isolating after showing symptoms of coronavirus. japan is planning to begin cash handouts for those hurt by the pandemic as soon as next month. the country is planning an extra budget of $156 million to try to offset the effects of the virus. the number of cases in japan has climbed to more than 7600. the country was put under a state of emergency last week, but many of people are still seeing crowded shopping areas in parts of tokyo. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg. david: thanks so much. coming up next, france extends it

bloomberg has learned apple will start selling mac computers with its own processors.signs that help popularize the iphone and ipad. the max currently have chips else by intel. the top u.s. aluminum producer cutting costs and output at one of his plans. alcoa will suspend production and is also cutting capex. aluminum has been among the worst performing commodities during the crisis. i am viviana hurtado and that is your bloomberg business flash jordan alix: thanks some -- i am -- your bloomberg business flash. alix: thanks so much. today the focus of on the pandemic and all of the companies and how they will restructure across industries. joining me as a man who can break it down, simon freakley, alix partners seo. it is a global consulting firm. , who isad strokes calling you right now, what are their questions, what are you telling them? simon: thanks a much for having me on your program. i am speaking to the ceos of our clients every day. six weeks ago, the first concern was did they have the balance sheets, did they have the cash resources to deal with this extrao

as governor, i worked with mayor bloomberg. he has then developed an organization.works with mayors all across the world, literally, in providing them guidance. he has tremendous insight, both governmentally and from a private-sector business perspective in this. remember, his company, bloomberg, they went through the china closedown, open up, and went through the european closedown, open up. so, he's had quite a bit of experience in this area. it's a very big undertaking and we thank you very much for taking it on, because it is going to require a lot of attention, a hot of insight, a lot of experience and a lot of resources. we're also going to be partnering with johns hopkins and vital strategies in putting together that tracing operation. it will be coordinated tri-state and downstate. why downstate? because again, downstate operates as one area. about 25%, 30% of the workforce that goes into new york city comes from outside of new york city. i have a house in westchester. i work in new york city. who's supposed to trace me? westchester or new york city? if i tu

bloomberg markets." we need to find out what's going on. what a week it has been, taylor riggs.lor: some of the major markets trying to hold onto those gains despite that put a bad jobs number we got earlier this morning. we are fluctuating between gains and losses. mostly unchanged for the s&p 500. as you can see, the dow a little bit lower. the energy sector is up about 1%. the energy sector within the s&p was down about 66% for the first quarter. the last two days, up about 10% or so. you are really starting to see a little bit of a turnaround here, at least within the energy sector. if you flip up the board, you will know why. it is all about crude. we got the tweet from the president saying saudi and russia were discussing cutting 10 million barrels a day. , opec+ isorning joining other producers to try to stem what has been a historic price crash. russia has said they might be ready to move as well. , mostly up the board green on the screen. exxon mobil here is one that catches my attention. late last night, they did lose their aaa rating by moody's. they do still have a n

as governor i worked with mayor bloomberg. he hasn developed an organization, he works with mayors all across the world literally in providing them guidance. he has tremendous insight both governmentally and from a private sector business perspective in this. remember, his company bloomberg, they went through the china close down, open up. the european close down, open up. so he's had quite a bit of experience in this area. it's a very big undertaking and we thank him very much for taking it on because it is going to require a lot of attention, a lot of insight, a lot of experience and a lot of resources. we're also going to be partnering with johns hopkins and vital strategies in putting together that tracing operation. it will be coordinated tri-state and downstraight. why downstate? downstate operates in one area. about 45% of the workers in new york city come from outside of new york city. i have a house in westchester. i work in new york city. who is supposed to trace me, westchester or new york city? if i turn up positive, yeah

bloomberg daybreak." i'm alix steel. markets holding onto the gains we saw. about half of the s&p is now in a bull market, up 20% from its lows. the dollar has see what we will get out of the euro area finance ministers meeting. we get a bunch of supply coming online. the dollar extending its drop. the bloomberg dollar index looking at a daily drop of 1% and crude trying to find support. exxon mobil cutting by 30%. this raises the question of has the fed done enough, what more can they do? we have been asking this question all morning. they have taken steps to stem the pandemic -- to protect the public from the pandemic. earlier i spoke to steve schwarzman on the action the fed may have to take. steve: the fed will have to go from aaa's to full investing great is a big stretch. are out of their normal range. i think they will look at that with some skepticism. alix: joining me now is daniel tarullo, former fed governor. board ofmember of the governors responsible rate regulating financial institutions. will havenk the fed to expand its balance sheet more and by things like junk bonds? fed is i think the surely going to have to expand their b

joining us with more on earnings is bloomberg's sonali basak. everyone haseen obsessing about about the loan loss provisions. is that with the street is really taking account of today? sonali: these provisions are certainly significant. they are much more than what wall street was expecting. what's worse is they may get worse in the coming quarters. this morning, the market shrugged off some of these issues because other areas of the bank were really able to shine, like trading, but you don't know how long this is going to last and how it will continue to impact not only loan loss provisions, but the low interest rates might impact their ability to collect interest income on top of that. guy: we don't have much to go on at this point in time. how useful are these numbers? we had a month in which we've had an impact coming through of the virus. jamie dimon and the rest of the team don't have much visibility on what is going forward. how rough are the estimates of the forward-looking components, particularly when it comes to the credit side? sonali: it is bett

bloomberg has learned the company next year will start selling mac computers with its own name processorscurrently have built by intel. expedia naming eight new chief executive. at the same time, the company is raising about $3.2 billion to shore up finances. the new ceo is vice-chairman peter kearns. he has been running expedia with chairman since december. the 9-to-5 workday has gone by the wayside for those working at home. homebound employees are now logging three more hours per day on the job than before the lockdown according to data from nor vpn. u.k.,nce, spain, and the the workday is stretched by an additional two hours. this is bloomberg. ♪ romaine: we want to get a recap of some of the earnings that have crossed the wire over the past couple of hours. capital one did beat on quite a few metrics but what most people are focused on is the reserves. loans from a year ago. setting aside $5.42 billion in provisions in the first three months of the year. the company has mobilized and they say they are well-positioned to mobilize for this crisis. they did not provide any kind of a fou

those hospitalized had preexisting conditions like hypertension, obesity or diabetes >> mayor bloomberg has volunteered to trace the people infected in new york state tracking the virus has been credited for limiting the spread in south korea and could play a role >> two house cats become the first pets in the country to test positive. both in areas of new york state. both expected to make full recovery there is little risk of humans getting covid-19 from their pets >> african selling the pride and new york city parade, the mayor says the macy's july 4th parade will happen. finding ways to honor america. watching from your with indwind and balconies. it will be tough to watch from home when that day comes, we'll have a celebration of our own thank you very much. >>> world champion skier lindsay vaughn will start an interactive fitness class today on the health coach site. just about having something to do when we are all stuck at home during the coronavirus pandemic. >> during this time, it is so important to stay active and healthy. we are all kcooped up in our homes. we can still work out

bloomberg has learned of a proposal from the u.s.t would effectively make a part of the u.s. emergency stockpile up to 360 5 million barrels of oil reserves. the plan is aimed at easing the glut that has pushed drillers into bankruptcy. that is your bloomberg business flash. alix: thanks so much. joining me now was more on oil, bloomberg's annmarie hordern. we are waiting on the opec oil report. at the same time, we are seeing single-digit pricing in the spot price market. annmarie: if you look at some of these swaps, especially the a very tightat is market. sprites will continue to be very weak. especially when you look at things like jet fuel in the market, these are industries under serious pressure, so you are seeing demand destruction even more so in these parts of the market because they are hit by the global shutdown, similar to what we see in gasoline. just look at the physical market, what is impacting the gasoline market. we haven't seen how low gasoline has been since landing on the moon in the 1960's. it is very tight --

bloomberg has learned this involves testing far more americans for the coronavirus then has been possibleow. the effort would start in places that haven't bitten -- that haven't been hit so hard by the virus. other cities would remain shuttered. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm viviana hurtado. this is bloomberg. alix: thanks so much. for more on the economic fallout from the virus, we want to look at the labor market. postings on job sites have slumped from a year ago. jobseekers in the u.s. and canada really the hardest hit right now. meanwhile, the diseases have -- the disease is having a deep impact on unemployment. more than one billion workers are at high risk of losing their jobs or taking a pay cut. sectors,st risk , akinhotel, and retail to what mark mccormick was just talking about. coming up, global asset sales deteriorate. we are going to speak to mark , next.pp ceo this is bloomberg. ♪ viviana: this is "bloomberg daybreak." koch, up next hour, katie goldman sach

they are approaching 3 million according to data collected by johns hopkins and bloomberg. hashe state saying it death rates have continued to fall and now at the fewest in a month. this as governor cuomo sketched out a phased in reopening plan. ros krasny is joining us. we continue to see more and more states starting the work of states starting the work of reopening their economies. ros: that is right. if you look across the states, you get 50 different ideas of what is going on. there is some states like oklahoma, georgia that are pressing ahead quickly. others, even hard-hit ones like new york, taking baby steps. andrew cuomo likes what he has seen. steps.aking small in california there are interesting images of people on the beach is this weekend. step-by-step even states quite reluctant to commit to anything like maryland are taking a lunch , at least baby steps. -- taking the plunge, at least baby steps. haidi: there is lots of questions about how this massive stimulus is going to be funded. we heard from stephen mnuchin about the issue of how the deficit will be address

bloomberg has learned some companies can open by mid april.enmark and austria were the first european countries to loosen restrictions as the government seeks to gradually revive economies crippled by the containment measures without risking a second wave of an actions. the acting u.s. navy secretary has apologized his harsh criticism of an aircraft carrier captain. he was relieved of command on the uss theodore roosevelt after raising the alarm over the spread of coronavirus among his crew. thats motley told the crew the closure was too naive or too stupid to be the ships commander. he apologized last night. askingtic senators are deutsche bank for details of its contact with president trump's family business. the trump has asked the german lender for obedience the on some of its loans. the senators want to know the extent to which deutsche bank holds financial leverage over the president. global news 24 hours a day on air and @tictoc on twitter. powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg.

bloomberg has learned this involves testing far more americans for the coronavirus than have been possible up to now. the effort would start in places that have not been hit hard by the virus. cities such as new york, detroit, and new orleans would remain shuttered. we end with the world's largest oil producers, inching closer to an unprecedented global deal to cut output. saudi arabia and russia debating terms before the opec meeting. u.s. production falling almost 10%. global news 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in ire than 120 countries, viviana hurtado. this is bloomberg. guy? tom? thank you so much. a little different data check today. offee equities churning friday, huge up. tuesday, huge up. then we give it off back -- we get it all -- then we give it all back. weekly jobless claims, a real snapshot of the american labor economy. you don't need a snapshot on oil right now. a yields jumble. oil is absolutely strong mary. i spoke with javier blas, and it is real simple. the financial market oil, which we were jus

bloomberg has reported the new phones in september could be pushed out a few weeks.dication from cook on that. he did say that they have rapidly built the muscle to run the company this way. not indicating any supreme -- any extreme supply chain disruptions and indicating they are doing a fairly good job running the company with all of their employees working from home essentially. impacted very was early on by covid-19 because of reliance of what is going on in china. did apple give any color when it comes to china sales and what is happening over there? emily: they actually broke this quarter down into three quarters. the first third, things were disrupted in china. the second third, where the pandemic was starting to spread around the world. the third third where of course it really took hold in the united states and europe. china, allstores in of them have reopened. the question is, when will stores continue to reopen around the world? he told me, as far as stores opening in the united states, by the first half of may, somewhere in that ballpark, some stores in t

. ♪ this is bloomberg. ♪ mike pence has told bloomberg 100,000 americans are being testedoronavirus. the government tries to ramp up its liking response to the outbreak. -- lagging response to the outbreak. >> what i can tell you, because of the public-private partnership we forged with these vast martial labs that your listeners -- commercial labs that your listeners know well, we are testing over 100,000 americans a day. but a very significant breakthrough happened this weekend. moving with record speed the fda approved avid laboratories point of care test. it is a 15 minute test people can have administered at their local doctor's office. we are in the process of identifying the thousands of habit laboratory machines that are around the country. we aremaking sure distributing those not just to areas that are seeing an impact today but we want to distribute those as abbott laboratories is making about 15,000 tests a day. we want to distribute those two areas you implied is the kind of surveillance testing that would allow states that currently don't have a significant ou

bloomberg has learned that more than a dozen publicly traded companies with revenues of more than $1illion received loans. guy: maybe a few holes in the was suggesting to larry kudlow earlier. volume today is really quite light. as you the story conceive are the main markets. and the 100, the dax, cac 40 all in positive territory. oil stocks, while down, are not the lead losing sector in europe today. we will run through the details of what is in just a moment. in terms of what we are seeing, a light volume session. i expect everybody is waiting to see what is going to happen for the rest of the week. at has been quite a run. the u.s. putting back to back games together -- back to back games together. some posit -- back-to-back gains together. european close is next. we will go over the details then. this is bloomberg. ♪ ♪ guy: 30 seconds until the end of regular trading in europe. let's take a look at where the action has been. we have come back this afternoon. a more positive session. we are finishing at session highs or near session highs. we are up around .5%. s midmorning into t

the executive order could come as soon early this week after bloomberg has learned trump approved a proposal of the levees for three months. it would not apply to tariffs at -- that the white house imposed as enforcement action, such as on chinese goods or on steel or aluminum from around the world. the president has denied any tariff delay. we are joined by rufus yerxa, the national foreign trade council president. what is your take on delaying or not some of these tariff payments? good idea or not? havingyes, thank you for me. i think it is obviously much needed in this situation. we all know that coronavirus has completely changed all of the priorities of government in all kinds of areas, and trade is no exception. before this pandemic, you know, the big focus was on the trump administration trying to reduce trade deficits and deal with unfair trade. but now there is really one single priority. which is keep essential trade moving in areas that we really need to have an integrated global supply chain, and that is in areas like medical equipment, drugs, food. it is going to be very importa

bloomberg has seen an eu that on thursday, the bloc will ask members to support a $2 trillion recoveryest measuree is nearly 500 lien dollars to replenish the small business aid fund and offer funding for hospitals and testing. from theinformation san francisco bay california medical examiner's office, there ine two deaths recorded february that they believe could have happened two weeks earlier, suggesting the pathogen was circulating in the u.s. weeks earlier than health officials believed. vonnie: thank you for that. iea's fatih the birol says this month could go down in history as the black april for oil. that's next. this is bloomberg. ♪ ♪ ideathink it may be a good that those countries who make announcements that they are going to cut production may well reduce production as soon as possible, without waiting for may 1, and may even consider further cuts to what they have announced. director fatty biroll -- director fatih urging countries to consider further cuts. here?s the agenda it strikes me that it is too late if you want current prices to go higher, and at this point, any am

bloomberg has learned more than a dozen publicly traded companies with revenue topping $100 million receivedns. not to speculation come the three biggest u.s. airlines make up more than 100,000 jobs under the terms of a government bailout, american, united, and delta cannot/jobs before september 30 but they have been warning employees cuts are almost inevitable. face2020 one, the airlines a bleak future of depressed traffic and volatile revenue. we end with casino operator wynn resorts calling for parts of the nevada economy to start reopening in may. the ceo saying the las vegas strip should be open in the middle or the end of the month. wynn has released a 23 page proposal on how it will keep its casinos, tell rooms, and guess say. guests safe.s, and tom: thank you. in a quieter time and place, professor shar stein of the bloomberg school of public health at johns hopkins university would write essays like "influenza vaccination immigration at the u.s. southern border." right now he is focused on the pandemic in hospitals in baltimore. we are grateful for dr. sharfstein to join us this mor

bloomberg has learned he wants bigger airlines to repay 30% of the aid through low interest loans plusarriers would have to give the government stock warrants equal to 10% of the loans. airlines want easier terms. we had with a warning from goldman sachs. this quarter from the previous three months, advanced economies will shrink about 35%. that is four times as much as the record set in the 2008 financial crisis. goldman economist saying an open question is, how fast those countries will rebound because no one knows how quickly people can get back to work. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. tom: thank you so much. greatly appreciate it this morning. what we try to do through this crisis is speed to professionals. right now we speak to michelle patch. dr. patch is out of johns hopkins university, an expert in the patient safety within nursing and within care particularly in emergency words. right now her world is turned upside down because it is about patient saf

irs is the number of mainland flights has stalled since then. a new bloomberg leading for casino operators in macau. they are expected to shoulder a 95% slump in growth earnings. all six operators are to report in the coming weeks. declines would underscore the deep damage being inflicted by the virus and subsequent restrictions on travel and entertainment. eu leaders open a virtual summit this week with no clear instructions on how to finance the finance -- the virus recovery fund. the videoconference will discuss the roadmap for tackling the pandemic, but it contains no timeframe and no vision of the investment needed to stem the fallout. no concrete decisions are expected on friday. global news 24 hours a day on air and on quicktake on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm karina mitchell. this is bloomberg. let's take a look at the markets. it is pretty much a risk on day. asian stocks are trading on the back of the oil rout. wti june contract raising early gains, now back in the moneyit seems -- in the

has led on policy decisions as well. stay with us on this jobs day, this is bloomberg. ♪ ♪ this is bloomberg "surveillance." trump 3m over unspecified problems with its production of protective masks, tweeting the company will "have a big price to pay," but did not say why. peter navarro said the administration has concerns about worldwide production being delivered to the u.s. donald trump's family business asked deutsche bank about delaying loan payments. as of 2016, the trump administration owed about $340 million to the lender. that is your bloomberg business flash. francine: we are seeing a bit of news on oil, oil surging as producers eyeing a 10 million barrel a day output cut. 10.3% to $33 ame barrel. stocks are still under pressure. u.s. futures, the latest corporate news is trying to figure out what kind of economic turmoil we will see from a pandemic that has affected more than a million people worldwide. eight -- we get to carl riccadonna joins us next hour and everyone re-calibrates off the jobs report, including the markets where we have seen a jumble in the yield and a flattening of the yield c

releases as news, as he had ended yesterday, and kill stories critical of the chinese government as bloomberg hasore than once. they censor movies and silence their own employees to keep china happy. hollywood specializes in that, they fill their universities with the offspring of chinese oligarchs, displacing our own c. they have outsourced our prosperity across the pacific ocean they have gotten rich while doing it. so of course they are repeating china's lies about this pandemic. they have been training for this for years. will they be punished? we don't know. but remember their names. you should also remember the people who told the truth about all of this when it was unfashionable to do so. steven mosher is one of them. he was on the story months ago. >> i think it escape from the lab because we have the chinese government basically telling us that it did. wuhan is the only level 4 laboratory and all of china, so that's where you would put a dangerous pathogen, whether you were genetically engineering it to be a weapon or not, that's where you'd be experimenting on it, so it makes sense that

the good news is that mayor michaelee bloomberg has volunteered to help us develop and implement a tracing company. >> laura: fantastic! bloomberg is iner charge? the guy who does not think china's president xi is a dictator? i'm going to be shocked, and i hope i am surprised, but i'll be shocked if new york truly opens up. like the old new york before the election. you don't think so? that's the way i see things going. hope i'm wrong. i hope i am wrong. although 26 million americans are now out of work, the president's top medicalle advisor's sole focus, you can't even really blame them, their focus is the virus. today, the top guy to shade on the testing issue. the media pick this up and then they threw it at trump's face. >> dr. fauci said that the u.s. is not in a situation where he can say that where we want to bg in regards to testing capacity, said we need much more testing capacity as well as tests.ha >> dr. fauci says we just aren't there -- >> i don't'ti agree. if he said that, i don't agree. >> laura: good! i love that.r because if we wait for dr. fauci's seal of approval to reo

governor andrew cuomo announcing former new york city mayor and presidential candidate michael bloomberg has volunteered, along with johns hopkins, to create and pay for contact tracing across the state of new york. he also said he had a productive meeting with president trump at the white house yesterday and the plan going forward on testing. >>> nbc's ali vitali now joins us from columbia, south carolina, where the government announced schools will remain closed the rest of the school year. what's going on there? we know the mayors of south carolina, many are objecting over the decision of the state governor. >> andrea, you just hit the nail on the head here. there's a lot of mixed messaging when we take in tandem what we hear from the state government, local officials. just to break it down, federal officials put out from the white house the opening guidelines, they said states considering reopening should be seeing a downward trend of new cases over the course of 14 consecutive days. translate that here in south carolina, that's not the case. nevertheless, the republican governor here is

this is according to a document bloomberg has seen. it is broken up into two stages. the first stage will be emergency measures to keep businesses going. the second measure is to support a v-shaped recovery. look at what is happening in japan. they will increase subsidies for businesses hit by the virus with more aid going to firms who do not fire workers. cash handouts for small and medium-sized firms. payments to lower income households. aid to households -- households with children. one year tax referral. cuts, money handouts for businesses and households it seems like officials in tokyo are stepping up to try to support the economy as they look to implement an emergency lockdown as early as tomorrow. that is likely when it will be announced. it will be starting on april 8. we will continue to digest the details from that package. they did see a thousand cases in japan and we are waiting for more announcements from shinzo abe, planning to declare a state of emergency. we are still seeing equities heading higher. u.s. futures falling. the press briefing from preside

bloombergs sonali basak has been listening in. what have you learned? ceo brian moynihan and the cfo. in the first is it weeks of april, down 40 to 60%. we have some insight into how the consumer is behaving. $60e they were spending billion weekly, that has dropped to $50 billion and that has normalized from the trough we have seen in mid-march. they are trying to provide bright spots to the consumer. what we do not have is the net income interest expectation through the end of this year, which we believe will be under pressure. alix: especially on a risk off day. equity futures still treading around the lows of the session, now off 81. btp yields jumping. canary in the coal mine? that is possible. coming up on "the open" with jonathan ferro, he will be joined by peter to jeannie -- this is bloomberg. ♪ ♪ from new york city for our audience worldwide, good morning, good morning. "the countdown to the open" starts right now. your price action this wednesday morning shaping up as follows. equity futures down hard. session lows. off to .9%. a classic risk

our bloomberg markets coanchor, tom mackenzie, in beijing, with a preview or briefing ahead of the chinese gdp numbers. the virus pandemic hasaken a heavy toll on economies around the world. u.s.s fed president sees gdp shrinking by 4% to 5% this year. robert kaplan spoke exclusively to bloomberg about his projections for the second quarter. view is basically the same as it was two weeks ago. i think we will have a substantial contraction in the second quarter. annualizedd publicly 20% to 30%, so annualized it by -- multiply it by four. we will continue to grow into the fourth quarter. i probably would say today that peak unemployment may be closer to the mid to high teens, so maybe higher than i said before. we still believe that we will end the year with an unemployment rate something like 8%, 9%, or 10%, but in that range, a challenge going into 2021 will be the work -- to work at unemployment rate rate down. -- on a planet rate down. -- unemployment rate down. >> if you take mr. bullard saying it will be a sharp v and mary daly saying this could drag into next year, the recession, where do you put yourself on that spectr

the good news is, mayor michael bloomberg has volunteered to help us develop and implement the tracing program. be one fantastic. bloomberg is in charge? okay, the guy who doesn't think china's president xi is a dictator? i'm going to be shocked -- and i hope i am surprised -- but i'll be shocked if new york truly opens up, i mean like the old new york before the election. you don't think so? well, that's just the way i see things going. might be wrong, i hope i am wrong. although 26.5 million americans are now out of work, the president's top medical advisors sole focus -- you can't even really blame them, that is their only focus, it's this virus, and today the top guy through shade on the testing issue. the media picked this up and then they threw it in trump's face. >> dr. fauci said that the u.s. is not in a situation where we can say we are where we want to be with regard to testing capacity. they said we need much more testing capacity as well as tests. >> to dr. fauci that were just not there yet. >> i don't agree with that. i think where doing a great job on testing. if he sai