london. >> morgan: the virus is >> morgan: the virus is also affecting campaign 2020. tonight joe biden and bernie you sanders will meet to debate without an audience. and georgia has pushed back its primary with arizona and florida and illinois and ohio still planning to vote this tuesday. >> straight ahead on the cbs evening news, how the coronavirus is threatening the nation's blood supply. humuans have been plagued, a look at past pandemics and how we survived. and later the coffee shop where hope is the first thing on the menu. can plunge you into deep, depressive lows. (crying) take you to uncontrollable highs. (muffled arguing) or, make you feel both at once. overwhelmed by bipolar i symptoms? ask about vraylar. some medications only treat the lows or the highs. vraylar effectively treats depression, acute manic and mixed episodes of bipolar i. full-spectrum relief of all symptoms. with just one pill, once a day. elderly patients with dementia-related psychosis have an increased risk of death or stroke. call your doctor about unusual changes in behavior or suici

morgan, what is your take about that?hen it sparks a conversation. i think instead of giving facts and facts and facts, if something that can spark a conversation at home with people, and some of it has different opinions. and i have to ask you has young reporter whetted your appetite for a career in journalism? young reporter whetted your appetite for a career in journalism ?|j young reporter whetted your appetite for a career in journalism? i think i would rather go down the physiotherapy route! 0h! i would rather go down the physiotherapy route! oh! i think thatis physiotherapy route! oh! i think that is more for me at the moment. morgan and josie verghese, thank you both so much. thank you! thank you for all of your comments this week. if you want to share your opinions on bbc news and current affairs or even appear on the programme, do e—mail newswatch at: or you can find us on twitter at: you can call us. and to have a look at our website. —— and do have a look at our website. that is all from us. samaria will be ba

morgan, what's your take on that?conversation. i think instead of giving facts and facts and facts, give something that can spark a conversation at home with people, something that has different opinions. and i have to ask you has young reporter whetted your appetite for a career in journalism? i think i'd rather go down the physiotherapy route! 0h! i think that is more for me at the moment. 0k, well, look, morgan and josie verghese, thank you both so much. thank you! thanks. thanks for all of your comments this week. if you want to share your opinions on bbc news and current affairs or even appear on the programme, do e—mail newswatch. or you can find us on twitter. you can call us. until the next time, from me and the rest of the team, bye—bye. the changeable weather is going to continue through the weekend. monday we have some great sunny and crisp weather on the way but a bit of rain in the weather in the short term. this is the satellite picture across the atlantic and you can see the weather systems and the swel

demarco. >> morgan: danya, thank you. the coronavirus has now docked the billion-dollar cruise industry. this morning in miami, tens of thousands of passengers disembarked from seven ships. all cruises in this country have been canceled for least the next 30 days. and today, the white house expanded its travel ban from european nations, adding britain and ireland to a list that now includes 28 nations. americans are being allowed to return from europe, and worldwide, more than 153,000 cases of the coronavirus are reported. at least 57,00 deaths with europe, now the epicenter of the pandemic. ian lee in london has the latest. >> reporter: peter myles in better times. today, the 67-year-old is quarantined with the coronavirus. his daughter, actress sofia myles, has documented his decline. >> my father is now locked in a ward, no visitors. >> reporter: what have the doctors told you about his condition? >> we keep getting calls saying he's imminently away from death. so, you know, i went the other day, fully prepared to watc

david kelly with jb morgan -- jp morgan.bloomberg radio and on television, tv , if you have a terminal it is a convenient way to see what we do, including manus cranny's conversation with sergio ermotti. please stay with us from london and new york, "surveillance" as usual. this is bloomberg. ♪ ♪ watchingyou are bloomberg "surveillance." the big japanese automakers are taking hits and their credit ratings, moody's downgrading after s&p cut ford to junk. the lockdown of countries across the world causing an unprecedented collapse in oil demand. goldman says any agreement will be too little, too late. that is your bloomberg business flash. tom: thank you so much, greatly appreciated. equities, bonds, currencies, commodities. commodities soggy today, but i want to frame it into this jobs number. equities are weaker and even with the gyrations of credit, the two year yield is lower. 60 and the above bloomberg financial conditions index is six standard deviations out. francine? francine: european. government bonds and -- euro

morgan lawrence. morgan was drawn right away to skyler. >> did she kind of light up a room? >> oh, yeah. she had the giggle and the laugh. >> the girls' families became good friends, too. morgan's parents dave and sheryl say morgan and skyler were like sisters. >> what are your memories of skyler when -- when she was this high? >> she giggled all the time. it just filled our house. >> she had the biggest eyes. you just wanted to hug her. >> they were good girls. got good grades. morgan dreamed of becoming a meteorologist. skyler, a criminal lawyer. they also had a pact. that they would always be there for one another. >> and you would both be in each other o other's wedding parties? >> everyone has a sister to put in their wedding and we had each other. >> as freshman at morgantown's high school, the two girls drifted apart a little. with a new school came new friends. the bubbly skyler fit in right away. >> friends came first with her. she was always about hanging out with friends if she didn't have work or school. >> soon, skyler had two new bffs. sheila eddie, who the nie

i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley. every time it takes care of something for us, we celebrate. how often does that... got it. servicenow - the smarter way to workflow. >> welcome back. dow futures with another drop at the open the biggest ledgers. boeing, caterpillar and goldman sach welcome back check out shares of fedex as well another name in the red. initially popped after the company reported third quarter earnings in line with revenues the company is lower this morning as fedex has pulled its 2020 guidance with impact due to the coronavirus and will look to cut costs. fedex has asked the government for liquidity support. let's go to our guest now on the news line. lowering his price target on the stock this morning ken, thanks for being with us. >> caller: good morning. >> the first time this company has pulled its guidance. how notable is that? this is a company that has lowered its guidance even before we saw the coronavirus >> it is significant it pulled estimates and this economic outlook and the capital plan

morgan joins us now. morgan, welcome. how are you now? i'm great, thanks very much, i'm super.ed my life. and your hearing has come back? basically transformed my life. and your hearing has come back7m basically transformed my life. and your hearing has come back? it has come back. it's quite a story, you really hit your lowest point and this terrible accident derailed your career. just tell us how you found your way back. it was difficult at the time. i suppose, hearing loss was probably the least of my problems. at the time, i had a lot of internal injuries, broken bones and it really didn't occur to me that i had suffered much of a head trauma, if any. yes, that i had suffered much of a head trauma, ifany. yes, i had broken that i had suffered much of a head trauma, if any. yes, i had broken my helmet and there was some scar tissue and i spent a month in hospital in china. gosh. it was in the ensuing couple of months that i started to notice hearing loss and then i suppose i went from having a mild hearing loss and going through to an audiologist and getting it checked out t

matt, morgan brennan here. digging further into this infrastructure discussion, more specifically, i mean micron and sam sung have flagged strong demand in the data center market in the midst of this outbreak. is that what you're seeing at marvel where are you seeing the strengths and weaknesses amid coronavirus? >> right we're, you know, we're seeing the same types of things we're not just exposed to the wireless network actually we have a very strong position in the cloud and think of it in all of the key parts of the network in between and so that part of our business, which is now the bulk of the company candidly, we still see demand as being very strong. i think the same trends that you mentioned are going to drive demand for network equipment the challenge right now is, there's a number of supply issues in the industry as we came out of 2019, the whole chip industry was on a very strong upswing and so supply was already tight before the impact of covid-19 and now you have the interesting dynamic supply co

i'm morgan brennan live.th stocks looking to extend yesterday's gains right now, futures are pointing to a higher open opening up 751 points right now. s&p 82 and nasdaq set to open 352 points higher. it could be two back-to-back days of gains. after the s&p 500 of its first move in 14 days of trading sessions the first weekly performance since the financial crisis when it fell more than 18% in a single week. s&p and nasdaq trading at the worst since february and taking a look at the bond market investors buying there again today, with the 10-year note yield moving lower. still above 1% 1.045% is your level there checking the dollar as well. we've seen some weakening in the dollar index against other major currencies still, it is on track since the '08 crisis crude has been a big mover it is coming off its single best session ever from a percentage point standpoint wti crude is up almost 8%. 27.21. that april contract is set to expire later this week we are on pace for crude the worst month in history >> sena

then mandel of jp morgan s -- been mandel of jp morgan asset management, thank you as well.his is bloomberg. ♪ alix: let's take a check on markets. it looks like the open is going to be really ugly. the spy, the etf that tracks the s&p, is down around 10%. some of the key sectors within that down 13%. energy, a smaller portion, still down nonetheless. coming up, the fed cutting by a full percentage point to shield the u.s. economy from the virus impact. michael feroli will be joining us. ♪ when you move homes, you move more than just yourself. that's why xfinity has made taking your internet and tv with you a breeze. really? yup. you can transfer your service online in about a minute. you can do that? yeah. and with two-hour service appointment windows, it's all on your schedule. awesome. so while moving may still come with its share of headaches... no kidding. we're doing all we can to make moving simple, easy, awesome. go to xfinity.com/moving to get started. alix: this is "bloomberg daybreak." it's going to be a brutal monday. let's get you caught up. in europe, european

andrew sheets, morgan stanley chief cross asset strategist.his is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn, along with guy johnson in london. this is the european close on "bloomberg markets." easyjet is grounding its entire fleet of planes. the airline says it is looking for ways to cut costs to cope with the impact of the coronavirus epidemic. when will the flayer was implying? they say it depends on government restrictions and demand. the coronavirus pandemic is adding insult to injury when it comes to u.s. household balance sheets. not only are millions of people losing their jobs, but the link would see rates had already been on the way up before the outbreak began. that is especially true when it --es to let's get a quick look at where we are now in u.s. markets. we are higher on the s&p 500, but those gains are actually increasing as we get through the session. it is up 2.25% now, the dow up 2%, and the nasdaq flying away with things, up more than 2.6%. in the s&p 500 now, we have the drug distributors and viacom cbs up

morgan. the force of selling is over. weeks, volatility has risen and you have systematic investors volatility.d to it looks like the volatility picture is stable. what is going to take its place is 158 billion dollars of rebalancing flows. this is common sense. if you have all of these investors with market mandates and you need to have different allocations for certain assets, they will need to rebalance. if you are a real money investor, you have a 60-40 or folio, you will need to rebalance and move back into stocks. real money is underweight risk and overweight bonds. u.s. pensions. they would have to buy about $400 billion worth of stocks to get back to their normal allocation. j.p. morgan says timing is unsure. nejra: bloombergs dani burger. andreas, it seems markets are struggling to price in how long the recession is going to continue. everyone says a recession is a certainty but when you look at the 10 year treasury yield, 50 basis points above a record low and global equities at a 2016 low. these are not markets

>> good morning, morgan. first, i appreciate mr. gordon's comments and release because those are thoughtful and one of the things that many of your guests this morning have been talking about, all our hearts going out to those affected but i want to thank in l.a. county all our public health workers and first responders as it relates it to our portfolio, we are sticking to our investment release, our ideals we continue to rebalance it's something that we have to instill in ourselves and had a board meeting this week where we spoke about it certainly is very challenging, but having strong principles are certainly -- these are the moments where we need to stick to them as opposed to allowing emotions to dominate our actions. >> what does rebalancing look like right now >> rebalancing, effectively, we do on a daily basis look at we have a target allocation where we divide assets into four categories of growth, real assets, credit and risk mitigating strategies and we compare where our balance is compared to what our target allocation i

charlie: yeah, that's morgan stanley.he initial reports from what i'm gathering from brokers who work there, the initial reports were kind of downplaying the severity of this. this was a massive outage. it affected all 15,000 brokers in different ways. morgan stanley initially tried to spin it as if it just affected the online brokerage system which it did. took that out. but every single broker was affected by this. essentially, if you called your broker at morgan stanley yesterday, and said trade out of this, it was essentially impossible to trade out. they couldn't tell you if there was -- if they called the trading desk and said you know, sell x, whether the trade was commenced, whether it cleared, they couldn't see the brokerage accounts of the various clients. so they were essentially flying blind yesterday. now, still, a lot of morgan stanley brokers did call in trades, it was a wild day, from what i understand. and morgan stanley to their credit made good on every trade today. apparently what they did was they wen

morgan is higher -- hiriung across the firm.bank has job listings that do not need to be filled immediately. reaction to uncertainty about the global economy and the logistical challenges of personal interviews. softbank plans to sell $14 billion of shares to alibaba. it wants to shore up its business due to the coronavirus pandemic. they are considering raising the remainder of the money by selling a stake in softbank telecom. boeing is shutting down its seattle area manufacturing hub for two weeks after a worker died from coronavirus complications. it adds to a wave of plant closures sweeping across the globe. the aviation industry is navigating's biggest disruption in decades. that is your bloomberg business flash. back to the macro picture and the data, we are waiting for pmi data out of france, numbers out of europe. we will get march figures from germany and the u.k. the data will get some insight into the impact of the coronavirus. mike bell, exec. director / global market strategist, jp morgan asset management is still w

she sparked morgan's interest in it, too. >> she said cosmotology was hers. that i was not allowed to have it and i did it anyway. and that's kind of, you know, what sisters do. >> oh, my gosh. tell me about it. >> after graduation from high school in 2011, heather began working at a local pub, the tilted kilt. she became a hostess. bree worked with her there. >> she'd walk them back to the table. she'd already have them laughing, having a conversation, same thing when they were leaving. >> bree shared almost everything, including her apartment. when heather confided she didn't always see eye-to-eye with her parents, that was hardly unusual for a young woman determined to make her own way. >> they love each other dearly, it's just i think they knocked heads, because heather wanted to explore. >> as for boyfriends, bree watched heather go through ups and downs. just recently, she emerged from a relationship with an older man. >> i know for a fact she still had feelings for him. you don't fall out of love as much as that as sometimes we wish we could. >> on dec

morgan stanley adds its call to the list of all three calls on second quarter gdp. claims. jobless james bullard of the fed talking about 30% unemployment in the u.s.. he along with neel kashkari of the fed they the fed can do a lot more. but what is hitting markets overnight and in today's session is the lack of progress on the $2 trillion stimulus package in the u.s. u.s. futures hit limit down after the worst week for the cash trade since the financial crisis last week. we broke through that no one the s&p 500. we saw green on the screen on friday in europe but european futures taking a big hit with european leaders struggling to get ahead of the virus. read on the screen in asia. the 10 year yield had its biggest drop on friday since 2009. it continues its slide today. dollar strength takes a little bit of a pause. in g10, began outperforming the kiwi on the back foot with kiwi out of new zealand and oil at a 2003 with questions over the prospect of that opec texas deal. getting back to the u.s. and the fiscal package, senate democrats blocked mitch mcconnell's attempt

romaine: jp morgan testing u.s. coronavirus plans.as learned they are asking thousands of employees to work from home. bloomberg finance reporter michelle davis is here now to give us a little bit more information. not necessarily unusual. what is unusual about what is happening here is that coronavirus has been around for global companies for the past two weeks. jp morgan, their consumer bank has not been affected this. that is where they have the most employees. are consumere facing. off theseas dusted plans and they are saying, we need 10% of staff across the bank to test out working from home so that if it comes to the point where if there are massive outbreaks and we have to shut down offices, we will still be able to function at normal. joe: this is something that, in theory, banks would have to be -- be prepared for? >> banks by law have to have these contingency plans to make sure they can continue as usual with some sort of natural disaster. normally, banks have not caused -- have not thought of pandemics as things that could

>>> morgan is back for the highs and lows of the week.some singing later in the show. >> i'm ready for that. >> that is a preview for the sunday mail. the first hi to a happy milestone for a man who is one of the most beloved figures in our culture even though he makes us feel bad about not knowing the capital of portina faso. one year since alex treb a.m. announced stage four pancreatic cancer. this week the 79-year-old icon shared an honest update as he reached that milestone. >> now i'd be lying if i said the journey has been an easy one. there were some good days, but a lot of not so g you know my oncologist tried to cheer me up the other day. he said, alex even though the two-year survival rate is only 7% he was sure the two of us would be sitting in his office celebrating my second year of survival. if we take it just one day at a time with a positive attitude, anything is possible. >> amen. trebek has been open about his diagnosis and pros regular becoming an optimistic face of the terrible disease. the world, ourselves included, c

jp morgan's equity derivatives theers are making a hole in pricing.erated $1.5 billion in revenue this year, almost all from equity markets in last year's first quarter. it is a snapshot of the way the coronavirus crisis is shifting fortunes on wall street. that is your latest bloomberg business flash. check and markets, it is a broad-based rally. every major sector in the s&p 500 is higher and for the most part, by several percentage points. the best performer is carnival. occidental right after it. jonesof course, the dow industrial average is up 4.9%, the best performer today. followed by nike after that outlook and earnings from nike. home depot is up 8% as well. nasdaq is up less than the others, 2.6%. the vix is at a quieter 59 right now. guy: talk about carnival, it is one of the best-performing stocks year in europe. the dax,se 100, and all up. the dax is lagging a little bit, but it is the travel stocks really surging. the most beaten up stocks are really bouncing back the most strongly. we are closing down the european markets here, but it l

julian: well, morgan is with me now. ashley's still with me.film and getting the message out there. i think it is getting awareness about it, there is a lot of people that don't know and people who have messaged me after seeing that and then saying that they have experienced it and did not know what to do. it is quite a decision to go on film, say "it has happened to me", and then try and get some serious message across. yeah, it is to help people and this is very much outside of my comfort zone. but it is definitely worth it to do it. when you say it is outside your comfort zone does that mean you're not aspiring to be a television reporter? no. i don't have the confidence to do it, i don't think. something that i never thought about doing. how many of those that you have been watching have her mindset, do you think? it's interesting because quite a few of the finalists i have met don't have this overwhelming desire to be a journalist or a reporter. they just want to share their story, reflect their community and actually that is essential to

morgan stanley economists seeing 12.8 percent unemployment average. and chancellor angela merkel has quarantined herself at home today. the public face of germany's fight against the coronavirus behind closed doors after she came into contact with a doctor who later tested positive with the disease. prime minister shinzo abe of japan is indicating that postponing the summer olympics may be inevitable. the international olympic committee says it will reach a decision in a four weeks. but canada says it will not send athletes to the games -- it wants the games delayed until the pandemic is controlled. 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. tom: thanks so much pay let's get to the data. we are seeing the market open with a little bit weaker and yields lower, from their two-year space out to the 30 year bond, with curve flattening. those worries about massive economic slowdown. i want to point out the bloomberg d

then, jp morgan's trading system fails again.stitutional stock trading platform broke down as orders flooded during last week's historic market rout. and you've got 30 u.s. energy companies looking for ways to raise new financing as virus concerns grow. joining me is bloomberg's sonali basak. let's start with ray dalio. horrible month so far, but this could be an interesting bet. sonali: remember back in -- that he told cash is trash. be a bunchappened to of coronavirus will en route countries -- coronavirus riddled countries where they are talking about nationalizing these complete. he may be hedging some positions, but we've seen him do this before, back in 2018, where he took big bets against individual german companies. alix: europe was already struggling to grow anyway, so that is a double whammy for them. let's get to the second story -- i forgot -- jp morgan. [laughter] systemp morgan trading was the third, second? sonali: the second. the first time around was involving both clients. this time, institutional clients. very

morgan. >> mr. aguilar. >> i will come back to that building off of what he just said in just a minute. during a press conference in november you shared that in september 2019 there were 42,000 individuals that had sent back to mexico. you gave a larger number in your testimony. what was that number? 59,000. i appreciate your willingness. get us all the numbers". in response to the chairwoman's comments. how many of these individuals are children? >> i do not have that data in front of me. >> do we have a tracking system that says what happens to individuals when they are returned back to mexico? >> that is a complicated process i would be happy to get more detail on that. multiple things can happen. right now we have a 50% no-show rate. we have individuals that just voluntarily returned to their country of origin. we have those that just drop out and remain in mexico. we do not have the ability to collect that data. >> do you acknowledge that individuals are approaching cbp officers and saying they

jp morgan's ceo has undergone emergency heart surgery.was caught early and the surgery was successful -- that is what jp morgan said in a statement about chief executive officer jp morgan -- jamie dimon's emergency heart surgery. he felt chest pains before work and checked himself into a hospital. that might have saved his life. as the most prominent executive and global banking, investors were very much concerned, especially as the surgery comes at a turbulent time and financial markets due to the impact of coronavirus. shares fell about 1% and post market trading. placedan said it copresidents in charge. an analyst at the bank is in capable hands and added that jp morgan has perhaps the deepest bench in north american banking. matt: thanks very much, out of new york on this jp morgan story. we will continue to cover that for you throughout the day. , a promise from bank of england's mark carney. ammunition to combat the virus. we will be hearing what is on offer. this is bloomberg. ♪ tv just keeps getting better. how you watch it does t

i'm morgan brennan live at cnbc headquarters kicking off with historic moves on wall street as the dow moves towards 20,000 the first time since february 2017 the dow has now erased all of its gains since president trump's inauguration back in 2017 this morning's futures it has been volatile, we started higher, turned lower we've gone flat. right now, the dow is indicated to up 194 points, the nasdaq to open up 143 points it has been a wild ride. futures spikes on the news of the stimulus from the ecb. we've been bouncing around ahead of that 9:30 open. taking a look at the bond market we've seen a lot of volatility there. treasuries yesterday sold off with significant spike climbing as high as 1.25%. now coming off as investors move back to treasuries with a 10-year at 1.177%. just off three-year highs. i want to get a check on crude bouncing back in a big way after sinking to its lowest level in 18 years 20.37 a barrel ice brent 26.91, an 8% bounce. we are still at these multi-year lows i want to get a check and look at the major moves and major volatilities a lot of talk now about t

here's the first one for you, morgan, comes from elizabeth on instagram. of us are. which tv show do you recommend bipging? >> i was bingeing jack ryan on amazon. that's a good one. >> if you go fixer-upper marathon, chip and joanna, that's always good. we're doing movies. i showed my son "running man" with arnold schwarzenegger and we watched "knives out" which is excellent. >> covered the spectrum. >>> our next question is from taylor on instagram. good books for social distancing. >> i would say either "the kitchen house" or "the stationary shop". >> i'm reading a preview of colin jost's new book. but i'm going jon meacham's "soul of america." it makes you feel good about things right now. >>> finally manuela from new york asks what's one positive thing you can take from this week, morgan? >> seeing the way everyone has come together to deliver food for the kids who need it. >> and the people singing from the balconies in italy. >> love that. >> there you go. they're on lockdown but it's not going to stop the italians from singing. we've got more of you

morgan stanley, citigroup, jp morgan chase, you name it, down today. karen we understand that lower rates hurt the net margin. was this an overreaction because the idea of lower rates is that they spur lending which would be good for business sno. >> i think there is few things will be good if we refie that will be eyed good. activity on the trading desk that's good. but the assets management business that's not as good. one interesting thing happened otto a lot of times we talked about the 2-year 10-year spread you would think it would flatten out. if you look at the 2-year and 10-year spread since the beginning of the year it's actually near the highs. normally still low overall -- you know in the scheme of history. normally you would think that this would be a flattening curve. it's not there is this backwardation in rates. >> what does that mean for the -- we got a lot of new viewers not daily viewers what is a steepening offing of the yield curve. >> steepening is good with that means people think the economy picks up in the future and rates will

john morgan of jp morgan. ralph, thrilled you could be with us today.ll on interest rates off the emergency cut yesterday? ralph: they have revised. they were looking for march. they nailed that element. two more to follow. 25 basis points each at the next meeting. on the back of that, we have to revisit the official forecast. we have not done so yet. tom: at davos, the idea of business cycle returning ancient and quaint because of the dampening dow. now, back down to the zero bound, what would be the ramifications to the greater financial system, cyclic ebb and flow? ralf: we are seeing that in the action today. yesterday, another day of meeting. and he of the u.s. curve, now it is starting to fall flat -- another day of the steepening of the u.s. curve, now it is starting to fall flat. clearly, we are moving into the more of revisiting forceful liquidity, forward guidance and potentially asset purchases. to sum it up in one word, financial repression is coming back, if not directly, then certainly indirectly through the impact young curves have on inv

jody me now is acting customs and border commissioner is mark morgan. so much for being with this. i am not require about this, but are the northern and southern orders close? >> so, judge, that is a great question. i ratio asking that. there's a misnomer out there. the answer is no. the entire northern and southern borders are not close and shut down purred but we are doing is applying common sense, yet aggressive containment and mitigation strategies to try to stem the covid virus. we are implementing significant restrictions as appropriate. i will give unit example, trade, to merkel and track commercial traffic is going to continue in the northern and southern border. we do over $3 billion a day between the northern and southern border for trade. they're bringing across medical supplies, food, and other stuff comes that's not going to stop that will continue. to be five but what about the rest of it? we talk about trade and medical supplies, food, does that mean people who just went to visit the united states can do that from canada? or mexico? >> so

morgan is joining us now with more and morgan, we just ended up run is already seen evidence of this.ing evidence of this for people pretending to be sending messages from work. morgan: underwood came out of the canadian system it says delivering banking malware. trojans and what they're doing their praying on fears. the psychology, appearance and certain enter certainty and doubt. this is absolute time when you look at all of the previous disasters we've had in infections we've had. they warn you that this is the way the ticket should be anxiously you click to go to more information. this will actually get worse before it gets better. >> i know through my own company, they planned everybody to work from home very quickly. ninja sort of feel on what is going on throughout the country and that world. any advice for employers from employees were not. morgan: this goes back, there's a difference between continuity planning and disasters. this should be a part of every companies continuity plans. there already highly virtualized prices go to they already have a lot of workers from home. b

morgan plans to borrow funds through the fed's emergency lending facility and an exercise designed to break the stigma attached to that program or he folks were just doing this to break the stigma we don't want to have people who feel bad about having to go to the feds emergency borrowing window we're just doing this for the good of everybody right there was virtually no cost for years of jamie diamond to take money from the central bank from the but they did put it through some layers of denial so they could say well went through the primary dealers 1st or there was some machination involved was part of an economic policy that we're pursuing it wasn't just a freebie it wasn't socialism for jamie diamond it wasn't a gift to jamie diamond but they have destroyed all the money that's been given to j.p. morgan they're technically insolvent right they have probably 5060 times more debt than they have any book value or equity so but now jamie dimon is so desperate that he's just saying just drop the pretense were frick and starving to death from liquidity if you don't give us more money ri

anyway, we just checked in with tracy morgan.nderful moments with tracy both on camera and off. i can't show you the off. but this happened back in 2015 on our annual trip to new york. tracy had just come into a large sum of money and made a very ♪ we're going to the zoo, zoo, zoo ♪ ♪ how about you, you, you ♪ you can come too, too, too ♪ we're going to the zoo, zoo, zoo ♪ >> that's how it happens. if you want to slow climb down in america, you need to get that free cheese program up and running. >> jimmy: well, hello there. >> hey, jimbo! guillermo. what's up, baby? >> jimmy: how are you doing? >> you finally made it. i just bought the zoo. >> jimmy: you bought the zoo? >> the whole thing. with all the animals, everything.with it. i bought everything except for that one rock right there. but we're going to get that done. hey, craig! what you're saying to me is unnecessary. >> jimmy: which one is craig? >> right there. the big one. stretching his neck out there. i just came back. all they had is big mac meals. >> guillermo: what

that is what jp morgan said in a statement about dimon. he checked himself into a hospital, and that may have saved his life. as the most prominent executive in global banking, investors were concerned. shares of jp morgan fell about 1% in post market trading. the company placed copresidents daniel pinto and gordon smith in dimone aas recovers. back to you in london. well.we wish jamie dimon bloomberg's annmarie hordern with us there from new york. theng up, we are live from opec plus meeting in vienna as the organization engages in a high-stakes diplomatic gamble. ♪ anna: this is "bloomberg surveillance." a high-stakes diplomatic poker game is happening in vienna between russia and opec. they risk of price crash if it backfires. manus cranny is standing by with a guest. anna on a good day for you. -- anna, good day for you. today that itsk falls apart between opec and opec+? >> i think there is a risk. the russians seem to have no interest in extending this cut to the end of the year or deepening it. we have seen in the last 24 hours that

economist and head of european economics at morgan stanley.us get some perspective on how deep this recession is expected to be. give us some numbers. scaling thiswe are off of what we have seen in china. 25% down in investment, in retail sales, 50% industrial production with an untouched january. we think 5% quarterly decline in thea, 4% in the u.s. second. 5% annualized fall in europe, the epicenter of the epidemic. perspective,ome this is a little bit less bad but substantially worse than what we saw in 2001. it's sharper and we fall further, but we should bounce back quicker. just don't make up the area under the curve that we lost. heard that from the new bank of england governor, saying it should be temporary. what is temporary? what to be know about how china is recovering that tells us how temporary this can be? they are more or less back to work, aside from hubei. lockdown was a little bit later across the rest of the country. when you don't have a cluster spreading you are just picking up on cases, you can get on top of this thing in

good morning, commissioner morgan. we welcome you to the sub committee today sir to discuss the fiscal year 2021 budget request, for customs and border protection. yesterday, sir, we had a productive hearing, with acting secretary wolf. you won't be surprised to hear that a lot of the hearing focused on many of your areas of responsibility and expertise, sir. and everyone was respectful, and i think we had some very productive conversations. we aren't going to agree on everything but our nation's security comes first, and we should all be very mindful of that mission. commissioner, your people are literally on the front lines of protecting our borders. and it seems as if every year, it gets harder. i want to thank you, and the men and women who serve with you, for your dedication to this mission. last year, nearly 900,000 people were apprehended at the southwest border for attempting to enter the country illegally. you had a record number of groups comprised of single adults, families, families that didn't fit the lega

morgan executives say bank is big enough to weather any. dorm so again they're doubling down they're letting you know they're just like the vice minister of health in iran say that telling the people he was literally saying there is no worry about coronavirus it's not really here it's not spreading in iran as he's like having an episode of coronavirus episode live on stage and it's the same situation here right so it's like no problem again it's a real care a recurring theme everything can be solved money printing jamie dimon believes that we're not yet at a crisis point where his ability to for cinco worse the federal authorities the central bank treasury etc to print print print we haven't gotten to that point yet he said entrenched. and he has the ability to paper over every single mistake and he doesn't feel like we've got him although i will point out that over the past couple of weeks we've had an enormous purging of c.e.o.'s if you look at these s. and p. 500 companies there are an enormous amount of c.e.o.'s who have retired like bo

well, as you saw, morgan is with me and ashley is still with me. making a film and getting the awareness out there? it is the awareness about it, there are a lot of people who don't know when there area of people who don't know when there are a lot of people who have messaged me after seeing that and then saying that they have experienced it and didn't know what to do. because it is quite a decision, to go on film, say it has happened to me, and then try and get some serious message across? yeah. it is to help people, and this is very much outside of my comfort zone, a lot, but it is definitely worth it to do it. when you say it is outside your comfort zone, does that mean that you are not, as a result of this, aspiring to be a television reporter? no. really, not at all? no, i don't have the confidence to do it, i don't think. it is something i have never thought about doing. it is interesting. how many of those that you have been watching, how many are of more than's mind, do you think? well, it is interesting, it is quite a few, quite a few of t

morgan jpm. >> good ideas there. difficult day with the dow down nearly 1,500, we'll se >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it mad money starts now >> hey i'm cramer. welcome to mad money, welcome to cramerica. other people want to make friends and i'm just trying to save you some money. my job is not just to entertain but to educate and teach you put this one in context. maybe it takes a darn recession to beat this disease maybe it even needs a bear market which is where we are today and the dow plunged and s&p and nasdaq nose dived 4.7% coron as coronavirus is a public health crisis wreaking havoc all over the country and it hasn't effected that many people yet but we know it will. and we thought we could keep it out and then thought it could be contained and then as it kept spreading we were told there was no big deal. there's so few cases and so few why all the fuss and we discover

you were unable to hear morgan. >> morgan was asking about your year-end target and the idea that you't moved that. how do you get there given everything going on? >> it's a great question and sorry i didn't hear. if you take a look at how we over the last 30 years have projected the stock market, we run three models, a regress -- macro regress model which has been wrong 15 years because it's too negative, a p/e regress model, historical p/es and earnings and the discount model which has been accurate. how we look at that is, we have a -- we have a risk premium and a risk free rate clearly the risk-free rate is tied to where bonds are and have cratered that means you can enjoy a higher risk premium. what does this mean? it means that from a valuation perspective and earnings perspective we can afford a higher valuation at depressed earnings but from an interest rate perspective we are going to be in this lower for longer environment. do not think for one second that markets cannot and will not rebound. this has been an unbelievable pullback on the downside we will have a pullback on t

i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley. can you help keep these iguys protected online?? easy, connect to the xfi gateway. what about internet speeds that keep up with my gaming? let's hook you up with the fastest internet from xfinity. what about wireless data options for the family? of course, you can customize and save. can you save me from this conversation? that we can't do, but come in and see what we can do. we're here to make life simple. easy. awesome. ask. shop. discover. at your local xfinity store today. >>> welcome back to "street signs. oil prices continue to fall. russia has so far remained reluctant to back plans for 1.5 million barrels a day in rate cuts. how confident are these members sounding about russia getting on board then >> we have been canvassing that is russia also agrees to cut by 5,000 barrels when looking at the pricing action we have seen sounding confident as he made his way to the meeting listen in. >> as soon as we reach the aggregate. >> what is at stake if you don't reach a deal today >>

morgan thinks will happen. now that volatility looks like it may have reached a peak, a lot of these sellers when velti picks up, that is when they are prompting to sell. king their place is about a hundred $50 billion worth of cash on the sidelines that a lot of different investors are going to need to pile into stocks to help restore some of their allocations. this is something like a manager that is light on equities and we need to buy equities at this point. alix: also what we have seen is a lot of companies in the last 24 hours, twitter, southwest, jp downgrading or hiring staff. dani: i think the breadth of the different sectors we've heard is really stark. citigroup possible global revisions earnings index is now the lowest on record, which means we have seen the biggest amount of downward revisions on record. when you look across industries, definitely any of the service related industries are some of the hardest hit. bev, for example, who completely scrapped their forecast, or panova card -- or .inault

here we go morgan stanley, upgraded to a buy at citi bank citi upgrading morgan stanley. calls it a quality franchise on sales, guy. >> quality franchise on sales. i like this upgrade only because you had the massive double top we talked about. the stock cratered tested levels we saw within the last six months seemingly held. if you want to play stock market it makes sense i don't love the banks but morgan stanley gives you something to trade against. >> next up wells fargo upholding to overweight, the analyst bullish on the restaurant drive to expansion saying this could be steve grasso, the dominos of the decade. >> i agree with that chipotle found a way to do a lot right. but i believe coronvirus has affected it when you see the stock sell off below all moving averages opinion the 200 at $800 keep an eye on 70,800 you're in no man's land. >> wouldn't drive through restaurants. >> you got people hacking over your head they are making it. >> they are not making over it they are hard working people. >> the chipotle is just a comment. >> general comment. >> moving on to ta

mark morgan is here with that good news. senator tom cotton has a grave warning about our dependency on china. he and i have talked about this for decades. hate to say see, i told you see but we told you so. also, imagine if celebrities thought of anyone else but themselves during this outbreak? that can't be. we have to be joking. raymond arroyo is here from new orleans with the trouble in friday's follies. first, a dose of reality. that's the focus of tonight's angle. all right. today my favorite subject came up again. the covid-19 briefing. you know, are there treatments out there that are already in use with minimal side effects that could bring relief to our people in our economy? our own john roberts pressed dr. anthony fauci about the drug that we introduced to the wider public monday. >> dr. fauci, it was explained yesterday there has been some promise with hydroxychloroquine, this potential therapy for people infected with coronavirus is. there any evidence to suggest as with malaria it could be used against coronav