[no audio] mckeeel: inichael the bloomberg news room -- michael: i am michael mckee in the bloomberg ws room. we will get back to david westin in just a moment. we have been talking with richard besser about what is been happening with the medical side of things. we now want to check in on what is happening with the financial side of things. that is what is going on with the people in the markets are being affected by the federal reserve and the other lending programs we have brought forward. right now we will listen in on an interview we did earlier today with tom barrack of colony capital. tom: when we talk about collapse, we are talking about three separate things. we are talking about financial system that supports the real estate market, which is an institutional banking support ,ystem, a shadow banking system and individual investors all over the world buying bonds. that system is delicate. it is frayed, it relies on one thing -- cash flow. when cash flow stops, you have a problem. in north america has been if the cash flow stops and you are a debtor, there is a recourse system,

this is bloomberg. ♪ [new audio] [no audio]

don't see that as a story that is justified. >> michael bloomberg had turned over operations to winkler among others as he served as mayor of newk. he still owned his massive business. >> with certain restrictions like that, either accept the license and do it that way. >> michael bloomberg himself in 2014, doing business with a team and its patrons. another word for china's elite. >> there behind us everywhere and that is who they are. use the information that you have in such a way that enables us to report, but not kill ourselves in the process. >> in china he reportedly left "bloomberg news," however his wife allegedly company tried to bully her in a nondisclosure agreement. >> i was the wife, i was just an appendage of their own employee. i was not a human being. >> as you might remember, presidential candidate bloomberg took a lot of heat for his company's nondisclosure agreements and eventually released three accusers from their agreement. we asked him for their comment on this story related to china and so far have not heard back. >> shannon: keep us updated. thank you. job i did not trust another key endorsement and an

this is bloomberg. ♪ ♪ from london, i'm guy johnson, with vonnie quinn in new york. markets." vonnie: time for futures now. no better time to look at oil futures than now, with president trump's tweet a moment ago, followed by the report out of saudi arabia it is looking for an urgent opec+ meeting. joining me over the phone is bill baruch of blue line futures. brent is at $29.03. wti is above $25 a barrel. we are seeing a massive rally. the president is calling a hope on its petitions that there will be a 10 million barrel a day decrease. how much do you place in the president's word? will saudi arabia and russia agreed just because the u.s. president wants them to? bill: you know, i think there are going to be a lot of details to iron out here. ultimately, i was talking to our clients earlier today that we could see a move towards $30 on headlines, and i think that is going to be a fade the rally opportunity. if you don't act now, you may miss that opportunity. there's a lot of resistance at $28 that we are testing into right now. i want to see this play out. i am

breaking development amid allegations bloomberg news tried to silence its own journalists for reporting on corruption in china. his bacterial infection, ...ketoacidosis, or an allergic reaction and don't take it if you're on dialysis or have... ...severe kidney problems. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. lower a1c... ...and lower risk of a fatal heart attack? on it with jardiance. -ask your doctor about jardiance. >> shannon: in just hours the president is expected to roll out some guidelines, we could get some more social distancing >> we could get some new social guidelines as the cost of reopening their economy during the pandemic. austria making one of the first moves by opening up nonessential businesses. denmark starting allowing children to go back to school this week in spain lifting lockdown restriction on factory workers claiming to open its plants by next week. new allegations bloomberg news killed and investigative story into chinese corruption in order to maintain favor with the leaders of the ruling communist party. >> this all star

that is maria tadeo from bloomberg news. s check in on bloomberg first word news with ritika gupta. ritika: billionaire bill gates is criticizing president trump for cutting funding to the world health organization. gates call the president's move dangerous during oral health crisis. "pushedt trump the who china's misinformation about the coronavirus." the who says it will try to fill funding gaps with its current partners. the u.s. military is bracing for a long fight against the coronavirus. setdefense department has there are forces overseas and -- there are more than 2600 cases among service members. two people have died. 761 peoples another died from the coronavirus in the past 24 hours. -- the u.k. says another 706 21 people died from coronavirus in the past 24 hours. more than 12,000 have died. the government must decide whether to renew the three-week lockdown. on --many, extensions angela merkel debating how to relax some curves. the number of new coronavirus cases in germany has fallen. global news 24 hours a day, o

new york state. let's check in with bloomberg first word news.s ritika gupta ritika: president trump will sign the coronavirus aid package. it has money for the load andram for small businesses also supplies money for testing in hospitals. lawmakers are already at arms over the nest -- over the next round of rescue. the european central bank is likely to boost its response to help an economy that is in freefall. that is up to porting to a bloomberg survey -- that is according to a blue bag -- to a bloomberg survey of eponymous. a lot will depend on what european leaders are willing to spend. smallestorted the number of new rotavirus deaths in nearly five weeks. rose toer of fatalities more than 22,000. u.k., retail sales fell by the most since records began. sales fell 5.1% last month. the coronavirus forced all but essential stores to close. the one bright spot was food and drink sales, up more than 10%. alcohol sales soared 31%. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts

bloomberg party. you know how i know i'm not in new york? in the art, no one is excited to go to the bloomberg party. [laughter] in new york, a bloomberg party is five people smoking outside of arkham planning about bloomberg. [laughter] obligated toually attend the msnbc party tonight. everyone knows how the msnbc party works. president obama makes the kool-aid. and everyone there drinks it. [applause] home?ose to my there are unscheduled parties tonight and i'll have to give a rundown. fox news is having a party. security is tough. bring your drivers license and your longform drivers license. if you're blonde do not worry about it, just bring that dynamite smile. [applause] the new york times party used to be free but tonight is a cover. [laughter] else i willyone probably just go to the huffington post party. and the huffington post party is asking people to go to other parties first and just steal food and drinks and bring it from there. [laughter and applause] me wrong. i love arianna huffington, especially her voice. she sounds like a w

larry kudlow and bloomberg hourillance in the next with tom keene in new york. oomberg. ♪ these days you need faster internet that does all you expect and way more. that's xfinity xfi. get powerful wifi coverage that leaves no room behind with xfi pods. and now xfi advanced security is free with the xfi gateway, giving you an added layer of network protection, so every device that's connected is protected. that's a $72 a year value. no one else offers this. faster speed, coverage, and free advanced security at an unbeatable value with xfinity xfi. can your internet do that? francine: one million infected and 50,000 that has coronavirus cases rise around the world and governments scramble to handle the economic all out of the humans whole. 10 million people out of work in just two weeks. some say 10% of workers are filing for unemployment. meeting forency opec-plus holding virtual talks on monday after president trump calls for massive output cuts from russia and saudi arabia. evening,ng, and everyone. i'm francine lacqua in london. tom keene is in new york. a num

. and stephanie baker from bloomberg news.elcome to both of you. and here in the studio we have the bbc‘s chief international correspondent, lyse doucet. welcome to you. let us start with the who developments. stephanie, is that defunding from president trump a symbol of american withdrawal from global leadership, or is it something else? well, it's another example of american withdrawal from global leadership, but i fear it's a more cynical political move than that. i think he's trying to shift blame for his mishandling of the crisis onto an international body, and the irony here is that trump himself praised china's handling of the crisis back in late january and praised beijing's transparency, so it's ironic that he is attacking the who for having done nothing, but the real issue is that the who needs to be strengthened at this time of global pandemic. it's a tiny organisation relative to the scale of the crisis we are facing. the budget is something like $2 billion. it really ought to be beefed up rather than undercut. but

. and stephanie baker from bloomberg news.ternational correspondent, lyse doucet. welcome to you. let us start with the who developments. stephanie, is that defunding from president trump a symbol of american withdrawal from global leadership, or is it something else? well, it's another example of american withdrawal from global leadership, but i fear it's a more cynical political move than that. i think he's trying to shift blame for his mishandling of the crisis onto an international body, and the irony here is that trump

new york. we are counting you down to the european close right here on "bloomberg markets." clearly, the news over the last half-hour has been coming from the crude market. the president of the united states weeding that we could see 10 million barrels a day coming off of the market, and indication from the saudis that we are potentially looking at an opec+ meeting. the russians sounding a little cooler. equity markets are often earlier lows. 0.8%. now up by the energy sector doing all of the upside heavy lifting. we've got the energy sector here and gase, the oil sector up by 7.75%. brent crude off earlier highs. we did initially bounce north of $30. we are 24.3% to the good right now. another basis point added when it comes to the german ten-year. we continue to see the buck getting bid. $1.0865 when it comes to euro-dollar. vonnie: in the u.s., a nice rally after that tweet that saudi arabia is looking for an urgent opec+ meeting, and then, as if that rally wasn't enough, the president tweeted again taught thing it could be as much as 15 million barrels. he just casually a

york, thiso and new is bloomberg. ♪ bloomberg. ♪ . . scarlet: it is 2:00 in new york, 7:00 p.m. fu. romaine: i am romaine bostick and this is "bloomberg markets: the close." snappinga rally today the two-day losing streak in u.s. equities. the s&p 500 up 2% on the day. all 11 sectors in the green. energy are utility, your leading sectors. this is a broad-based rally. industrials the only laggard. the philadelphia semiconductor index one of the big outperformers on the day. we are going to get earnings from some names. we got texas instrument couple of days ago. a lot of optimism some of these companies may have seen a bottom. all of the attention continues to be on the oil

this is bloomberg. in new york, 1:00 6:00 in london, 1:00 a.m. in hong kong. i'm vonnie quinn. welcome to bloomberg markets. here are the top stories we are following from around the world. u.s. stocks are raising gains from what has been a recovery rally. the s&p 500 was up almost 2% but losing ground now on a ft report that gilead, maker of remdesivir, may not be as effective. jobless claims rising by 4.4 million last week but a number coming in slightly less than expected. total job losses now top 26 million in the wake of the coronavirus outbreak. in a few minutes, an exclusive conversation with the former national economic council director gary cohn. you don't want to miss that. let's get a quick check on the markets. .8%,&p 500 is up just giving back some ground. there was an immediate downturn after that ft report on gilead's drug being a failure came out. gilead is down 4.75%. so interesting, it was a who report published by mistake that the ft reported on. gilead's response was that there were not enough people enrolled, and the study was ended due to low enrollment and

this is bloomberg. ♪ ♪ new are watching bloomberg "surveillance cow -- surveillance."n saying first quarter inr volume falling 2% and the second quarter it expects at to be worse. the coronavirus pandemic has caused many countries to shut down bars and restaurants. the company that assembles iphones will be making ventilators in the u.s.. no word on where the ventilators will be built. foxconn has a factory in wisconsin. dividends.d to scrap to push fortogether an extraordinary meeting to reverse the decision. founder, who gave us an update. u.s. is high time for the to receive such notification tom the management of hsbc sell the dividends without any plans. viviana: that is your bloomberg business flash. tom: thank you so much. a look at the data, and it is odd, just a jumble. futures up four. a 46 handle on the vix. some dollar strength. waiting on news in the oil space and in the washington space. guy: absolutely. european equities climbing off their floor. about 1.1%, down by 1.2%. we are seeing oscillation in bund-btp spread. well andar lower as brent a little bi

new york. we are counting you down to the european close on "bloomberg markets." let's see how we are trending on the new day of the month and the new quarter. not the start we were hoping for when it comes to equities. we are seeing a down day. volumes all right, though. 311.90. banks,seeing european particularly u.k. banks, under pressure. brent crude down by 4.5%. the dollar is bid today, and hsbc, along with a number of other u.k. banks, being pressured by the pra to give up dividend payments, and as a result of which company market is banking those payments out of stocks. u.s., it ishe another day of pain for the markets as the president suggests it could be two weeks of pain for the country. the indices are lower by about 3% apiece. we are off our lows right now. some treasury buying on the 10 year. we had a massive build in crude oil inventories. we did see crude oil dip, but we are back at $20.51. inventory is the least of market worry at this point. the dollar index 99.64, just a little bit of lightening up in liquid if the issues and the difficulties in t

this is bloomberg. ♪ ♪ johnsonm london i'm guy , with vonnie quinn in new york. you down to the european close on "bloomberg markets." travel and leisure the lead gaming sector today, led by lufthansa. we will get numbers from the airline sector throughout this week. i would caveat this, though. we are seeing quite low volume in today's session. that may be tells you something about the markets' conviction. the other thing is what is happening with brent crude today. not down as much as wti, but off by about 8%. euro-dollar catching a bid. we've had the boj today. the fed and the ecb still to come. after italy dodged a downgrade from s&p friday, you've got a trading 1.77%. yields moving

bloomberg surveillance. tom and francine from london and new york.e are talking a lot about the u.s., some of the figures that we may see a little bit later on in terms of jobless claims. we will get back to paul donovan and ubs management. i wanted to ask about europe. there is so much fight between italy and some of the countries that corona has hit. can we talk about debt forgiveness or will we see italy in a bailout program once this is over? that it isn't think the only way. i think there are institutional mechanisms that with a bit of tweeting can possibly help provide common assistance. we have seen the commission talking about raising calls as well including the markets that are not quite corona bonds but led by the european commission with the government guarantee. i don't think we need to fixate on corona bonds. i think we need to focus on the financial assistance across the euro area in the way we have already seen europe come together with common medical assistance and common programs for purchasing medical equipment. of cooperation is th

this is bloomberg. ♪ ♪ london, i'm guy johnson, with vonnie quinn in new york. kets." time now for futures in focus. let's go to chicago. let's bring in phil streible of blue line futures. brent is done a lot today. the saudis are pumping north of 12 million barrels a day. does that spread continue to tighten up? where do you see the lows? phil: we do continue to see that spread tighten up. , crudelook at crude oil is most lightly going to hang right around the $20 a barrel range. right now, crude oil demand is at the lowest level since 2014. what we like to look at is quarterly data, and q1 oil ,emand, 94 million barrels right now about 89 million barrels. when you look at crude oil, 2/3 of that consumption is gasoline. with people being forced to shelter-in-place, stay indoors, gasoline demand is down significantly. the other thing we look at is distillate demand, the fuel used in shipping. that has also come down quite a bit as manufacturing has shut in. finally, that jet fuel demand has completely collapsed. we don't expect crude oil prices to continue to go

you,e: great to speak with paul gordon of bloomberg news from germany. s get to the first word news with ritika gupta. ritika: the price of oil is surging today. opec-plus scheduled an urgent meeting next week to try to end the market collapse. ready's oil industry is to agree to production cuts along with saudi arabia. there is a 10% output cut being discussed. they will hold a video conference on monday. in spain, the death rate from the coronavirus has declined for the first time in four days, fatalities.0 -- 942 death toll is approaching 11,000. it has been one week since boris johnson tested positive for the coronavirus. he still has a high temperature and remains in isolation. doorstep in ais mass round of applause for health care workers. passengers on a carnival cruise ship that was refused entry by multiple countries began disembarking in fort lauderdale, florida today, after 14 critically ill people were removed and taken to florida hospitals. people worth mild symptoms were told to quarantine on board for now. global news 24 hours a day, on air

news go to the bloomberg in new york city. >> we begin with u.s. federal reserve policymakers to keep the benchmark rate near zero. focus on thelikely next step it can take to rescue the economy once the lockdown ends. the decision at 2:00 p.m. new york time. area that might need support, mortgage servicers. a couple of grim milestones of the u.s.. the number of infections topping one million. that is a number -- and then number of deaths passing more americans killed during the may vietnam war. in the u.k. there is a sign current restrictions are likely to continue until the second half of may. systemernment seeing a don't take off once a lockdown is like -- lifted. global news 24 hours a day on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. let's look at equities, bonds, currencies. a vanilla data check. higher, dealsties come in. equities lifting up but the yields come in looking at the 30 year bond under a 1.02%. -- 1.20%. francine: i have a very similar data

. >> our first question comes from eric wasserman from bloomberg news. >> a quick question. you say it would be inappropriate to assess the esp. could you specifically address infrastructure? are you opposed to that idea some part later this year? >> i'm not opposed infrastructure but i'm opposed to is using a crisis to try and restructure government. watching dealing with when we were trying to put the deal together on sunday. 90% of that will turned out exactly as we had done on sunday. what we were able to add was the retention tax credit later. the speaker wanted to deal with election law, she wanted to deal .ith tensions for government all of these sanctuary cities that had nothing to do with coronavirus that had a bill up for a number of days not only to hospitals with those who were being laid off. but to have the speaker come back when we had not even implement it this yet and looking at what she wants, i know she was frustrated. money onpend some places that were not dealing with coronavirus in the last month. i am for infrastructure in the future, but one thing i w

this is bloomberg. ♪ i'm guy withdon, vonnie quinn in new york. an close on bloomberg markets. coming up next, "balance of power" with david westin on bloomberg television and bloomberg radio. he will be speaking to the former ibm chairman about tech earnings and how companies can navigate through this coronavirus outbreak. guy: let's get you -- vonnie: let's get you a market check. boeing raised about $10 billion in its offering. we have a weighty feel about these markets. the s&p 500 on the decline again, down 1.1%. the dow down 1.4%. the nasdaq down .5%. it is leading the indices. those -- bright spots include retailers. macy's reopening some of its stores on monday. some green shoots in those retail earnings. for the most part, down day this final trading day in april. this is bloomberg. ♪ david: from new york to our bloomberg television and radio audience worldwide, this is "balance of power" where the world of politics meets the world of business. we will start off with the markets, with a lot of equities dismal lot down on the numbers. abiga

new york. that is 3:00 p.m. in london. this is bloomberg. ♪ good morning, everyone. m keene in new york, francine lacqua in london. in the middle of the week, challenges in the market. we see that in lower yield and lower oil prices. opec-plus, a major giveback. us, isabelle -- isabelle mateos y lago with us. from blackrock. one of the great things i see right now is a complete mystery of the x axis. we are trying to figure out lockdowns through may, people are whispering june, and there is the faintest whisper of getting to the summer. the arch underpinning of all of that discussion is there is money in the piggy bank. there is a different nation,ion, different access reserve, is there enough money there to get off the x axis? isabelle: there is a lot to your question, tom. first of all, in terms of the speed of the case from lockdown, i don't think we should think of tch.s an on/off swi it is clear from countries that start to execute this, it will be gradual, industry before services, and all types of activities where you can practice social distancing before other

this is bloomberg. ♪ alix: breaking news.cconnell tweeting just now he will work with secretary mnuchin and later schumer to approve further funding for the paycheck protection program by unanimous consent during the next senate session on thursday. it is like the ink has just dried on the $2.2 trillion package. nancy pelosi talking about another $1 trillion needed. mitch mcconnell talking about more funding for the paycheck protection program. it is like government to the rescue in the u.s.. guy: absolutely. the central banks continue the stimulus story as well. we are getting news from the ecb in terms of it trying to make credit more available to the system and decided to accept greek government bonds as collateral. that is a huge step forward for greece in terms of its inclusion back into the financial system in europe. the ecb is also adopting a more generalized reduction of in terms ofaluation taking an broader amount of collateral. that is going to make the availability of credit even more straightforward. it is announ

new york. this is the european close on "bloomberg markets." let's turn our attention to what is happening in the u.k. and elsewhere. we are going to get a first word news update. here with that, ritika gupta. ritika: the white house and democrat leaders are close to agreeing on the next coronavirus aid bill. this measure would be for as much as $500 billion. it includes more money for the small business loan program. there's also funding for hospitals and testing. vice president mike pence will discuss testing shortages with governors today. president trump says some governors are relying strictly on state laboratories. he says they should turn to large commercial and academic labs as well. governors of both parties have called for more widespread testing. they say they can't start to reopen the u.s. economy without it. british prime minister boris johnson resisting pressure to ease the coronavirus lockdown. johnson fears a second wave of the pandemic could hit the u.k.. johnson hasn't returned to work after being struck by the virus. in german

well, "bloomberg surveillance" is next. tom keene joins me out of new york. oomberg. ♪ nowadays you do more from home than ever before. the xfinity my account app puts you in control with digital tools to give you the help you need when you need it. get fast and easy answers with personalized help 24 hours a day, 7 days a week. change your wifi password to a phrase that's easy to remember. even troubleshoot your services on your own. we're working to make things a little easier for everyone. download the xfinity my account app today. francine: president trump declares he has total authority to reopen states amid the pandemic, setting the stage for a clash with governors. more than 10,000 are dead from the virus in new york alone. global stocks rise even as goldman sachs warns of a 35% gdp -- a 45% gdp slump for advanced economies. jp morgan reports earnings this morning. and global coronavirus cases approach the 2 million mark. france and india extend lockdowns. the u.k. is expected to follow suit. well, good morning, good afternoon, good evening, everyone. th

this is bloomberg. ♪ guy: i am guy johnson with vonnie quinn in new york. ropean close on bloomberg markets. time for our stock of the hour. here is taylor riggs. taylor: our stock of the hour is conocophillips. they have said they have seen their america's number three producer and have decided to slash production by a quarter and cap, including suspending fracking in the lower 48 states. i want to take a look at alpo, the company said it would reduce 225,000 barrels a day, that is 100 million barrels a day in canada and 100 million in the u.s.. that is bringing production to the lowest we have seen in years. what that means for the long-term stock price reaction is not good. we are still down 55% for the year. billion,capex by $1.6 $4.3 billion, not enough to help boost the share price. it does represent a total reduction of $2.3 billion or 35% of that initial guidance they were giving. our you can see is where energy comes from in the u.s.. texas, offshore drilling, and then north dakota and new mexico. in international market, prices are not being helped

bloomberg. ♪ . . romaine: it is 2:00 in new york, 7:00 p.m. in london. i am romaine bostick. and i'm scarlet fu. this is "bloomberg markets: the close." another day of gains. the question is whether we will continue to rally into the close like yesterday. romaine: interesting rally. we have put together back-to-back days of gains. you out on to what we had last weekend -- you out on to what we on last weekend -- you add to what we had last weekend. the s&p up 21% from the march low. it has been a broad-based rally today and yesterday. a lot of the beaten-down names, mid-cap and slightly large-cap discretionary names, getting strong bids up double-digit percentages. on thear

from new york, this is bloomberg. ♪ scarlet: it is 2:00 in new york, 7:00 p.m. in london. rlet fu. romaine: i am romaine bostick and this is "bloomberg markets: the close." it looks like we are getting a rally heading into the end of the trading week. the dow jones industrial average, s&p 500, and nasdaq have spent most of the day in and out of the red. they appear to be pushing higher. tech and discretionary names are leading the charge, particularly in the s&p 500. out we are still seeing a big drag from names like boeing, alphabet, disney. for the week, the s&p 500 will end up down 2% unless we get a monster rally heading into the weekend. oil has been the big story of the week. it is going to finish the week in the red but still improvement from monday and tuesday.

let's catch up on the news you need to know about. here with the bloomberg first word news is ritika gupta. ritika: there is speculation about the health of north korea's kim jong-un. u.s. officials got word that kim was in critical condition after cardiovascular surgery. the white house was said to be told that kim took a turn for the worse. he missed holiday celebrations in pyongyang. president trump says he will temporarily suspend immigration to the u.s. that came in a late night tweet. he said the move would protect the jobs of american citizens. there was no word on how long the suspension would last or who would be affected. senate democratic leader chuck schumer says there is a deal on the latest emergency economic rescue package. the trump administration says the two sides are close. this bill could be worth up to $500 billion. the measure would add funds to the depleted small business aid program and provide money for overwhelmed hospitals and coronavirus testing. in italy, the government will present a plan this week to ease the rigid lockdown. pr

new book right now. we will be speaking to sarah next. this is bloomberg facebook bought instagram in 2012 for over $700 million. since then, mark zuckerberg and facebook have maintained a tight grip on what was then a burgeoning social networking service. joining me now is my colleague sarah frier, author of a notebook called -- new book called "no filter." i am so glad you gave me by events copy before it hit because i'm really enjoying it. you got a new excerpt out in bloomberg businessweek today detailing some of the, you know, early instances of perhaps disagreements between the instagram founders and mark zuckerberg. you talk about zuckerberg's jealousy. tell us a little bit about how that came into play into the buying and the running of this service. sarah: so, instagram was always a strategy for zuckerberg to avoid the potential competition with the company. and so, once he brought them into the fold at facebook, one of the first things he did was ensure that if instagram was a allowed to grow, it would not detract from facebook's photo booking. t

this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. this is "bloomberg markets." has turned to the world's largest retailer for its new ceo. he was most recently the cheap operating -- the chief of walmart's e-commerce business. career, he spent almost eight years at ebay. activist investors have been pressing ebay to focus on its main online marketplace. amazon keeps hiring. workersinging on 75,000 due to the coronavirus and make -- on 175,000 workers due to the coronavirus pandemic. forbank will pay the price some of those ill-fated technology bets. the japanese company is forecasting a $12.5 billion operating loss in the fiscal year that just ended, after writing down the value of investments in companies such as it were and wework -- such as uber and wework. still ahead, speaking of softbank, more on that $12.5 billion loss and the extensive damage that the coronavirus pandemic is causing. softbank, down 27%. let's take a look at the markets more broadly now. we have a down day once again this monday for the s&p 500, dow and nasdaq. the s&p down 1.8% even afte

francine: this is bloomberg surveillance. let's get to newcity with bloomberg first word news. in the u.s. were coronavirus cases now top one million. death rising above 58,000. more american lives lost in the vietnam war. president trump told meat processing plants to stay open. he signed the's enclosures threatened food supply chains. in bad loan provisions are overshadowing a blockbuster quarter, securities division reporting 77% jump in first-quarter trading revenues, more than double the average 30% gain. isclays also set aside it provisioned a decade. now to the test -- tech world. alphabet share surging after first-quarter results. the company's businesses cap going -- growing in the midst of the pandemic. sales over $303 billion fine that's up from a year ago. cloud topline soaring. and we end with volkswagen joining other automakers with the unprecedented follow from the coronavirus, it's expecting those to drop severely down to supply and demand around the world. effort to rein in spending will allow the company to remain profitable

new infections. we have details just ahead. this is bloomberg briefing in about 45 minutes noon hong kong time. they have approved the new hong kong civil service head. this is also -- the approval came through of a new hong kong mainland affairs chief as well. it was flagged in various news reports before, but we are getting some confirmation with regards to the changes in top political positions, or nonpolitical when it comes to the civil service head. government positions in hong kong. that is what we have. haslinda: on the virus front, singapore is extending its virus lockdown for a month after a surge in infections. while global cases top 2.5 million, our bloomberg markets coanchor has the latest. singapore has switched from being a hero containing the virus to now a cautionary tale. what happened? yvonne: in just a matter of days it went from a standardbearer in how to contain this virus to now the largest recorded outbreak in southeast asia. this goes to show the countries that experienced handling epidemics can be wrongfooted as well. tr

from new york, this is bloomberg. ♪ >> live from new york, it is 2:00 p.m. in new york, 6:00 p.m. this is "bloomberg markets: the close." i'm romaine bostick. scarlet: i'm scarlet fu. we want to bring you our exclusive interview with eric rosengren, the president of the boston fed. he spoke with our michael mckee earlier. >> with the rate cuts that we did at the emergency meetings earlier in march, we reduced the federal funds rate by 150 basis points. normally we would expect that to float through to other financial markets pretty seamlessly, and he would see borrowers, both individuals -- and you would see borrowers, both individuals and firms, seeing lower costs as they tried to borrow funds. unfortunately, the plumbing in

amanda: welcome to bloomberg i'm amanda lang in toronto. shery: i'm shery ahn in new york. re joined by our bloomberg and bnn bloomberg audiences. here are the top stories we are following from around the world. stocks plunging it as a fresh round risk aversion grips the markets. 500 extending monday's losses and sinking more than 3% at session lows. this as the meltdown in the oil markets accelerates a crash into vti crude futures extending beyond expiring contracts as opec ministers hold an impromptu call and president trump pledges aid for the oil industry. confirmed cases of the coronavirus topping 2.5 million worldwide. we discussed the response to the pandemic with united nations general assembly president tijjani muhammad-bande and former u.s. ambassador bill richardson. amanda: let's get a quick check on those major averages. they are moving lower today. pricing in part of the equation of what is happening with the price of oil, historic drop in futures. we are seeing that extend into the june contract. we are seeing markets pricing in weakness in the economy that is

this is bloomberg. ♪ ♪ i'm guym london, johnson, with vonnie quinn in new york. is the european close on "bloomberg markets." let's check in on the bloomberg first word news with viviana hurtado. viviana: we begin on capitol hill. part of the finger-pointing threatening new steps to aid the economy. u.s. house speaker tbilisi says donald trump's slow response is costing lives. senate jordi leader mitch mcconnell says democrats -- senate majority leader mitch mcconnell says democrats distracted the nation from a threat with the impeachment trial. president trump and vice president mike pence pointing to a day by day reduction in deaths in new york. still, the u.s. surgeon general warning americans to brace themselves for tragedy. he says this week be the hardest and saddest of most americans' lives. spain reporting the lowest number of new cases in more than two weeks. as signs that europe's largest outbreak is slowing. deaths marks the lowest fatalities since march 24. british prime minister boris johnson reportedly in good health. he spent the night in the hospi

this is bloomberg. ♪ haidi: we are getting breaking news.ravel booking website is in talks to sell a stake to silver like -- silver lake. and the angel risk for this company has risen given a number of readings downgrades have been cut to sell by a number of financial institutions per they have laid off 3000 staff already as of the middle of april and looks like with flight restrictions -- flight restrictions, people inside their homes, the pressure on companies like expedia will be coming down. they are looking to raise funds. toedia going to sell a stake silver lake and apollo. shery: taking a huge hit. let's look at the broader markets and see how markets are moving. sophie kamaruddin, what are you watching? after the worst day for asian stocks in nearly a month, whilekkei looking up .4% the u.s. s&p gaining ground. the bloomberg dollar index extending its advance. oil and currencies are sinking given the headwinds mounting for energy producing countries. treasury futures edging lower after we saw five-year yields falling to a record -- r

that is according to data compiled by johns hopkins university and bloomberg news.s higher than thursday's rate but below the average daily increase. more than 50,000 americans have died. president trump now says he was being sarcastic, his comments on injecting bleach to kill the coronavirus sparked concern among experts who called it a ridiculous concept that could damage the lungs. lysol issued a warning that its products should not be use as an internal treatment for the coronavirus. thursday, mr. trump noted that researchers were looking at the effects of disinfectant on the virus and wondered aloud if they could be injected into people. the president today signed a spending package that includes more money for small businesses devastated by the pandemic. during a signing ceremony, president trump called the bill a tremendous victory. the new law would revive a small business loan program that ran out of money after being overwhelmed by demand. it will deliver tens of billions of dollars in aid to health care providers and expand u.s. testing for the virus. glo

this is bloomberg. ♪ ♪ live from new york, i'm alix steel, joined by guy in london. is "bloomberg markets." we want to get more on markets. taylor riggs has more. taylor: one of the biggest point day advances yesterday. you are continuing to see a lot of that strength, hope and optimism continue to filter through again today. s&p 500 up about 1.6% after a monster rally across all of the major sectors yesterday. i also wanted to throw in crude for you. crude is catching a bid, up about 1.7% after there are some hopes that saudi and russia will be meeting on thursday to talk about reducing some of the supply glut we have seen, as demand has fallen off a cliff, so there are hopes that perhaps we can fix at least the supply side of things before we get to the demand-side. i want to flip up the board and take a look at exxon mobil over the last 11 days or so. they have come out and said that capex by aboutng $10 billion. that would be about 30% or so, to $23 billion. this would be coming in the permian basin in west texas and new mexico, really starting to look back on cu

bloomberg news said the carmakers introducing other safety measures including thermal scans for fevers protective equipment and some of the ford factories are currently manufacturing ventilators and respirators for hospitals >>> the stay-at-home orders are having an interesting effect in nature with fewer people around the beaches on the outer banks of north carolina have become filled with sea shells and tourists normally pick them up to collect especially in the spring and summer. the seashore remains closed to visitors and those who live by in that remote area are the only ones allowed onto the beaches. >>> pm is back and steve is back and i know you're talking friday whether, steve, are you concerned about signs and other drought is developing?>> no. we had such a good year last year dave that the reservoirs are okay and the snow when the sierra have pushed it to 63% from 53% so i am not worried, always optimistic but we are running out of time. unless it is an el niÑo year, usually by april 15 things start to wind down and that is how it looks, friday forecast with drizzle, some s

bloomberg surveillance." tom and francine from london and new york. i know we'll spend a lot of time figuring out what the senate bill means for smaller companies in the u.s. but we'll also spend a lot of time figuring out what happens to brent crude. we saw the devastation when it came to w.t.i. first that may contract and now the june contract and we really focus on exactly what it means for brent and i'm looking forward to speaking to the head of the i.a. later on. tom: it will be interesting to talk to fatih. we have the price actions and dynamics and future this is and futures that. what are they going to do about it? derth, a absolutely complete mystery out there right now over what the next step is. there was opec plus, there was all the meeting of the world leaders and that. and what i hear on a wednesday is just absolute thundering silence. francine: yeah, absolutely, tom. we were speaking to the former n.e. chief executive and they were saying they would need to cut something like 33 million barrels for make a difference. it seems difficult

this is bloomberg. ♪ . . is 2:00 in new york, 7:00 p.m. in london. loomberg markets: the close." i am scarlet fu reporting from home. romaine bostick will be with us shortly. we are getting him checked him with audio to make sure everything is working properly. equities are flying high. they popped at the open and have not looked back. we are seeing gains of at least 5.5% for all the major indexes. for the dow, a 6% advance. with the increase in equities, we are seeing a pullback in the vix, falling for the third day to a one-month low. now below 45 compared with a record 85 on march 18. we are looking at oil prices coming back a little bit. we are still waiting for indication on what is going to happen next with the opec-plus meeting between the opec producers and allies as well as other oil producers around the world. let's check in with our

this is bloomberg. ♪ guy: i am guy johnson with vonnie quinn in new york. "the european close" on bloomberg markets. let's turn our attention to the health care space. it is time for our stock of the hour. shares of drugmaker gilead showing the biggest intraday gain since 2012 after reports of coronavirus patients treated in chicago seeing rapid recovery in fever and symptoms as a result of the gilead drug being used. joining us on the phone is bloombergs drew armstrong. --sted a beer is the drug the drug in question is only a small sample of patients, 125 to which we can draw data from this data probably should not have been released. what will it take for this kind of excitement we are seeing to turn into reality for this drug show therapies that benefit and to be scalable? drew: the biggest thing we need is the actual results from a placebo-controlled critical trial. from the chicago site are part of two larger clinical trials gilead is running that have 4000 patients that they hope to enroll in those tests. disease andth this in particular this drug is i

this is bloomberg. ♪ >> breaking news.obil declaring a dividend of $.87 a share that is unchanged from the previous quarter. we know the company had been spending. it did that before his earnings report on friday morning. we want to shift gears here. if you look at what banks are doing, standard chartered is putting aside $966 million. with the spoke earlier bank cfo about the first quarter performance at the firm. here is what he said. our top line was up by 6% for the quarter. that was in a time when the --onavirus was impacted impacting in northern asia. a very strong start to the top line. there has been a need to top out the provisions, even in the current provider -- environment. young line profit was only down 10%. i'm actually ashley coming to this strong. we are now seeing that cross into europe. the hope we have is that the northern asian markets will be the first ones to recover from this. given they are the most profit of mark critz -- profitable markets. we should actually come out of this earlier than some an

bloomberg. guy: thank you very much, indeed. a bit of news out of germany. bloomberg is reporting the country is mulling a 300 billion euro guarantee program designed to help small companies. they actually have a fairly good system, but trying to help out small companies is a real issue in germany right now. reporting a 50 billion stimulus package to help out as well. viviana mentioned what is happening in the airline sector. we will talk about that a little later the program. we are also going to be speaking later on in this hour with tal cohen, joining us from the nasdaq to give us a sense of where we sit in terms of how the market is coping. air isvaradi from wizz going to be joining us later in the program, as well. this is bloomberg. ♪ ♪ i'm guye from london, johnson, with vonnie quinn in new york. this is "bloomberg markets." we need to find out what's going on. what a week it has been, taylor riggs. taylor: 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 betwee

let's get to new york city with bloomberg's first word news. viviana: we begin with china's economy in the first quarter. for the first time in decades it contracted as the outbreak shut down large parts of the country. gdp shrinking, 6.8% from a year ago. this is the worst performance since 1992. plunging moreo than 60% over that period. here is the united states president donald trump outlining plans to restart the u.s. economy. some state employers are being encouraged to abandon restrictions. the white house has been eager to help the country get back to work. 20 million people filing for unemployment aid. the u.s. has more than success at thousand coronavirus infections. coronas infections >> we are not opening all at once, but one careful step at a time. viviana: increased coronavirus infections as a europe ways easy lockdown measures. the virus climbing in spain, italy, france and germany. cases copping one -- topping 100,000. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and ana