música] ♪ nace la copla y la danza, el oriente y la llanura ♪ ♪ el mar y la serranía de guayana y occidentefuerzo y voluntad ♪ ♪ en este país, mi país, tu país ♪ [música] [música] ♪ mi país no es un decir, es la conciencia de todos ♪ ♪ es el quehacer del presente para forjar un futuro ♪ ♪ y así cultivar la siembra de nuestros libertadores ♪ ♪ en este país, mi país, tu país ♪ [música] [música] [música] ♪ mi país eres tú mismo, con tu esfuerzo y voluntad ♪ ♪ en este país, mi país, tu país ♪ ♪ en este país, mi país, tu país ♪ ♪ en este país sí señor. [aplausos] [música] y llegó jalisco. [música] ♪ yo soy el gavilancillo que ando por aquí volando ♪ ♪ yo soy el gavilancillo que ando por aquí volando ♪ ♪ no se asusten pichoncitos, palomas ando buscando ♪ ♪ no se asusten pichoncitos, palomas ando buscando ♪ ♪ lilalala, ay, lalala, liralalala, ay, lalala ♪ ♪ yo soy el gavilancillo que ando por aquí volando ♪ ♪ no se asusten pichoncitos, palomas ando buscando ♪ [música] puro vargas, sí señor, pura alegría. [música] ♪ yo soy el gavilancillo que ando por la nopalera ♪ ♪ yo soy el gavilancillo que ando

occidental shares down 9.8% at $13.43. berkshire hathaway stock down 2%. >>> apple is releasing a cheaper iphone and it will be the, phone se. this in a move to appeal to now suddenly budget-conscious consumers. this as the coronavirus takes aim at the global economy and people are trying to preserve their own cash, forget occidental. apple will start taking orders friday with delivery expected april 24th. the price of this new discounted phone, $3,999. which us covered by the dow -- it should be $3,999, i believe. no? yes? it's $399. okay. $399. which is it, brad? not a $3,000 phone. all right. >>> a dismal day for retail. not only did the fed's beige book of economic conditions say that the retail industry has been hit the very hardest of all sectors during the coronavirus crisis, but take a look at jc penney's stock. it is falling 22%, it is now exploring bankruptcy as the plunge in consumer demand may force the troubled company to close more than 800 stores. a share of jc penney is now worth, at this very moment, just

i mention occidental petroleum. company is having to pay warren buffett in stock for the financing deal you opposed. that must make you boiling mad. and i'm not it going to belabor it anymore. the board has changed. i can't really freely speak about it. but i respectfully disagree a little bit with what you are saying. occidental has a lot of great assets. being that said, i can't argue with you that it was one of the most ridiculous deals that i've ever seen. but those days are over. we are working together. think, there are things where i think the shareholders will eventually be rewarded, i think. the risk reward is in your favor, i believe. romaine: we were just listening to carl icahn speaking earlier on bloomberg television. let's turn now to what has been going on in washington. almost $3 trillion in fiscal aid. willany trillions more come out of washington? emily wilkins is bloomberg government reporter, joining us to help walk us through this. let's start with the bill president trump signed. this is the bi

i mentioned occidental petroleum.any is so cash-strapped that it is having to pay warren buffett in stock essentially for the financing deal that you opposed. that must make you boiling mad. i am not going to belabor it anymore. the board has changed. i cannot really freely speak about it. i respectfully disagree a little bit with what you are saying, cash-strapped. i think occidental has a lot of great assets. can't argueaid, i with you. one of the most ridiculous deals i have ever seen. i have said that publicly. those days are over. we are now on board, we are working together. hopefully, i think, there are thegs we are -- i think shareholders will eventually be rewarded there, i think. the risk reward is in your favor, i believe. activist investor and chairman of icahn enterprises, carl icahn. to quote the man, you will never see that again in history. never say never. we are down 12%. that is quite an attack on wti this morning. goldman sachs says stores will be locked up in 3-4 weeks. we are at an inflection poi

i mentioned occidental petroleum. cash-strapped, it is paying warren buffett in stock effectively for the financing deal you opposed. that must make you mad. >> i have said it and i won't belabor it anymore. the board has changed. we have three people on the board. i can't speak about it really. i disagree a little bit with what you are saying, cash-strapped. i think occidental has a lot of great assets. being that said, i can't argue with you it was one of the most ridiculous deals i have ever seen. i said that publicly, but those days are over. we are now at ford. we are working together. hopefully, i think, there are things where i think the shareholders will eventually be rewarded their i think. there is rewards that you favor there. investor carl icahn in that exclusive interview. wetlands in the seafood supply chain. the founder and started -- of the start of australian two hands is talking about how he is avoiding the wet markets. this is bloomberg. ♪ haidi: we have controversy over the role went markets may ha

and i have -- as you mentioned earlier served as a college president at occidental at ucla. had the privilege of serving as the under secretary of education under the obama administration. in between that, i've been working with the venture philanthropy firm that was engaged on developing online higher aterials for education. having flashbacks of that as we speak. host: the $2.3 trillion bill that the president signed into law that will include money. the numbers include $12.6 billion for institutions and about $350 million for those institutions hit hard. what will this money be used for? >> yeah, and we're very grateful to congress and the president for the cares act. and it is a good down payment on emergency funds we'll need to help higher education sustain itself in the next, in the next 12 months. in the immediate instance -- these funds we regard them as emergency funds. so the $12 billion that you talk about is roughly divided half and half between students and institutions. the student money goes to students. and students will use that to pay for emergency expenditu

that went sour and occidental is trying to preserve its cash as a result.is your latest bloomberg business flash. this is bloomberg. ♪ 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? guy: i am guy johnson with vonnie quinn in new york. this is european close on bloomberg markets. over to taylor riggs. taylor: our stock of the hour is pbh leading the retail decline. the march sales data showed the worst tech line ever as the coronavirus cap shoppers inside. take a look at a one-year chart of the stock. it has been one of the worst 73% toers, plunging bottoming out march 23. lenin jumped from the rally off an bottom and toda

oil executives from exxonmobil to chevron to occidental petroleum to a whole bunch of other names.hey are among those invited to the discussion in the cabinet room. what we're going to do is bring you the video of that meeting and headlines from it as soon as we get them. in the meantime, we flip it over to the marks. -- markets. they may be sliding but tesla is rallying. the electric vehicle giant said it produced nearly 103,000 vehicles and delivered more than 88,000 during the first quarter. tesla whose stock is up 5% right now also said that model y production started in january and deliveries actually began during the month of march, and that is ahead of schedule. so tesla stock stands at $478.64. flip it over to autonation. it is stalling out after announcing it will be laying off some 7,000 employees after seeing year over year declines in sales of approximately 50% over just the last two weeks here, folks. that stock is down 3%. and the last two weeks, yeah, so bad that the employees will be placed on unpaid leave and there will be pay reductions for associates and higher-u

secretario de movilidad de medellÍn, e0 de marzoe coirtiÓ enn casoÁs d ronaviru en esta ciudad al occidenteeraciÓn en el departament de... valtina lleÓ aolombie espaÑa e pasado 13 demarzo, dicue entrÓlaÍs donde eran precarios s controle sanitarios en el aeropuerto nadie le recomendÓ aÚn tip de medida, ahora esÁ recuperÁnde, po aiada. >> l primeros dÍas fue fiebre, dolor huesos,decaimnto, straciÓn en ma, los siguientes dÍ, f tos y me empezan los lestes. 31 peonas en totaen colombia sean recupedo, el ministerio de salud reporta que la mayorÍa de los casos son portados pero ya seresentan casos transmitidos de psonas a personas. la lucha ctra el coronavirus cada vez es mÁintensa, en los prÓximos dÍas, estarÁn llegando las pruebas rÁpidas quea a permitirgilir la detecciÓn de cas, mientras el Ís se prepara para la posibilad de extendera cuarentena, es todo lo que tenemos desde bogota colombia, ustes continÚ can mÁs. >> gracias mrici vamos a her una bve pausa, al regresar vamos a tener la informaciÓn mÁs reciee del mundoel depoe, con miguel gurwitz per ademÁs un lal de coda de los Áeles decide ayu

medidas econÓmicasque se estÁn tomando como ponente, los paÍses ricos como estados unidos o europa occidentale los escenarios, 54 millones de personas vivirÍan en condiciÓn de extrema pobreza y su derechos humanos podrÍan ser violentados. entre las recomendaciones para evitar estecolapso econÓmico, el informe sugiere proporcionar ayudas en efectivo las personas, rescatar a pequeÑas empresas que no pueden hacer frente a la crisis, suspender la deuda de paÍses en desarrollo, entre otras medidas. segÚn el new york times, casi toda la fabricaciÓn de producto y equipo mÉdicos para combatir la pandemia se destina a estados unidos y europa porque tiene mÁs presupuesto. paÍses africanos y de amÉrica latina se ponen a la fila y eso empeora la calidad de vida de estas sociedades. seguimos contigo. felix: la ciudad de nueva york tiene casi 7000 muertos y segÚn el alcalde bill de blasio, el 24% son de origen hispano seguido de los afroamericanos. debido a las grandes pÉrdidas humanas, el consejo de la gran manzana busca crear un fondo de emergencia para ayudar a las personas de escasos recursos a enterra

occidental petroleum. thank you for all your doing for us. >> dave hager. gas companyoil and out of oklahoma city. thank you for your leadership you are providing during this challenging time. you are the right man at the right time, and we are going to be back. pres. trump: we will get it done. >> greg garland, 66. thank you for your leadership through this process. all the work you have done on the stimulus package, the american economy -- improving lives. pres. trump: we think it will come back quickly. we have got the right packages. -- we areking at a looking seriously at an infrastructure package which is important for our country. we have 7 trillion plus in the middle east, for what reason? we don't put money into our own country. we are going to do a big package on infrastructure fairly soon. that is very important. it is great are you and everybody. mobile corporation. thank you for your leadership and i think all of our companies here align with your objectives to get the economy moving and make people lives around the world better. >> chairman of

occidental petroleum is down 8%. that was a $63 stock within the last 52 weeks. right now, it trades at just $12.54. marathon down 4%, just a $4.18 stock. if you look at the baskets of crude, the exchange traded funds, they have been caught in the tornado as well. no surprise there. u.s. oil fund, i believe that's the largest, down 7.6% to $3.89. the energy select spdr fund down 3.33%. oil and gas exploration, probably because you have natural gas in there modified just a bit, is trading up about .5%. which brings me to cabbot oil. if you are asking why would they be up, 3.5%, nice move there, well, it got a couple price target hikes today, possibly also the fact that it does have some exposure to natural gas versus just all crude oil. >>> we've got this breaking news. white house and congressional negotiators are reportedly inching closer and closer to a deal to replenish funding for the treasury's paycheck protection program, the loans that enable small businesses to pay their workers during the corona crisis. as you know, the treasury department's first instal

that was at the occidental arts and ecology center in sonoma county. proctor vitti heard explosions. there was a fire at 9:00 last night that burn for an hour. firefighters had to bring in water trucks from the outside to help fight this. this is on holman valley road. investigators will arrive there to try to figure out how it started. >>> we are learning, two appointment only covid-19 testing sites in san francisco remain largely empty. they are called san francisco city test sf come along pierce 30 and 32, and another south of market on seventh street. both have expanded criteria for testing but relatively few tests are being carried out. it's a concern as city leaders have said numerous times large- scale testing is the key to reopening that economy. >>> the facilities have the capability of testing 1500 people a day but according to city records, only 2000 people have been tested in total since opening. in a video, the board of supervisors said the whole san francisco city has the capacity to test 5800 people per day, including at hospitals and ot

we had exxon mobil continental resources chevron southern company alabama power conoco phillips occidental petroleum kind of morgan has corp group and a few others big ones great ones financial services where blacks stephen schwarzman paulson and company john paulson citadel ken griffin elliott management paul singer vista equity partners robert smith fidelity investments abigail johnson master card visa. sequoia stephens warren stephens great charles schwab chuck schwab. will be here i phone food and beverage national restaurant association mcdonald's darden restaurants coca-cola pepsi cola chick fil a subway lumen brands yum brands papa john's wendy's waffle house starbucks wolfgang puck thomas keller. my friend john george and danielle you know them from the transportation world fed ex fred smith the legend united airlines are skipper you know us u.p.s. david abney j.b. hunt why are sea world wide crowley maritime credible big powerful shippers and transportation companies in telecommunications we have the legendary john malone of liberty media verisign t. mobile charter communications

solo 4 estados harÍan en condiciones de abrir el 4 de mayo, hawÁi, montana, vermont y virginia occidentalicios de julio dos meses mÁs, entre ellos utah gobernado por un republicano, pero cuyo plan para mantener cerrado se extiende hasta septiembre >> algunos utilizan esto como un arma polÍtica a nosotros nos guÍan los datos dijo. >> en nueva york el tema aÚn no se discute, es el estado mÁs afectado por la pandemia. (informaciÓn en pantalla) (hablan inglÉs) es que alguno expertos de la universidad de harvard, antes de volver a la normalidad deberÍa al menos triplicarse el nÚmero de pruebas que se aplican. en washington, javier vega noticias telemundo >> y se puede vivir por diez semanas con 1200 dÓlares? bueno eso piensa el secretario del tesoro de estados unidos, eso fue lo que dijo en una entrevista reciente cuando le preguntaron si los cheques que estÁ enviando el gobierno sobre suficientes para enfrentar esta crisis por mÁs de dos meses. (informaciÓn en pantalla) (hablan inglÉs) ♪ >> bueno los cheques forman parte del plan de estÍmulo econÓmico y se espera que beneficien a 165 millones

occidental is awful. i couldn't believe it bounced. so great only chevron it's chevron, diamondback, eog, parsley which is on today on "mad money" and pioneer. those are the only ones i trust here everyone else is in a scrum. i mentioned the ones who have good balance sheets and growth all the rest are just -- be my guest. including schlumberger, which i used to love can't like that group. remember esg >> yeah. >> these guys were failing that kept me out of them esg. what does that come up to? >> even more uninvestable. >> this is the most uninvestable group i've come across they found too much oil. there's no place to put the oil. apache was the worst performer in the first quarter it bounced big it's time to sell apache i think it's time to sell occi it's time to sell any oil and gas pipeline they are all dangerous these things do trade together on etfs. sell, sell, sell sorry. sorry. sorry. >> despite the yield on some of those names, jim, speaking of yield, once again we have a very large name in this case it's procter. upping the

occidental has a huge midwest exposure as well. is that a good thing? no.hen: it is bad.eady on the natural gas site you are looking at permian which does not have a single natural gas rig employed, hasn't had one consistently for three years. of the geology, the amount of crude oil being pulled up in the permian, you're bringing natural gas with it. that is just the geology. did not have the take away capacity. that gas was literally being burned at the tip. and just sent off into the atmosphere. it had no economic value. gas,is called associated one of the reasons that have been keeping natural gas outside of the industrial pullback in a recession. permian -- not a single matin gas rig -- because of all the crude being pumped out, the permian was the second largest area in the united states. that is not good for your bottom line. now that you have got oil $10 below what you needed just to keep your existing wells, you need to $23-20 six dollars to keep oil-producing. the fact we are below $15 is going to hurt oil and gas. thank you much. stephen schork. coming up, a con

cuts, chevron, occidental, and there will be more as we go through the earnings season reports and ie will get guidance there. looking at the results -- the number of idling and in active rigs in the u.s. come i think it is inevitable to see a sharp decline in production especially if you bring back that storage capacity limit into the picture. i think that production will have to decline before we even hit that limit of storage. nejra: harry tchilinguirian, a pleasure to have you with us. and thank you for your patience. stay with us. this is bloomberg. ♪ manus: it is bloomberg -- daybreak year. nejra cehic is alongside me in london. lockdown.easing we will keep a sideline on that. it is all about the plans to reopen. easing the lockdown. that is an important headline for italy but also it is a buildup to the euro virtual conference on thursday. what do you need to see out of that to stop the euro from dropping further? back in terms of the spreads widening recently. all eyes on the euro group. making an up or indecision. is will theymark come with something that is long-term effect

i mentioned occidental petroleum.ed they to pay warren buffett in stock for the financing deal that you opposed. that must make you boiling mad. -- and i saidsten it and i'm not going to belabor it anymore because we have three people on the board, i can't freely speak about it, so i respectfully disagree a little bit with what you are saying cash-strapped. in other words, i think occidental has a lot of great assets, ok? that being said, i can't argue with you that it was one of the most ridiculous deals i've ever seen and i've said that publicly, but those days are over. we are now on the board, working together and hopefully, i think that there were things -- i think the shareholders will eventually be rewarded, i think, so the risk reward is in your favor. i think. yvonne: that was investor carl icahn in our exclusive interview with erik schatzker. a testing of an online shopping portal days after entering multibillion-dollar agreement with facebook. let's get more with our asia credit reporter. whatsapp, playing

. >>> new from overnight also, laurel sonoma county, a big fire at the occidental property there. it is in a rural area. it is arts and ecology center. the property owner heard explosions last night and came out to find a barn and outbuildings on fire. firefighters had some troubles getting enough water on scene. they had to bring in water trucks from the outside to help fight this fire. investigators will be arriving to try to figure out what happened and how the fire started. >>> good morning. we are live that san jose city hall and nonessential workers with the city of san jose have been on paid administrative leave since the lockdown six weeks ago. that ends on may 4 when widespread furloughs go into effect across many departments. this is 1200 city workers now. lifeguards, crossing guards, recreation leaders, library pages and other positions with police. san jose relies on revenue from sales and property tax that with many restaurants scaled- back and most businesses close, the income streams have dried enerare l op,theyalso travel re the same goes for hotel and transient ta

this is at the occidental arts and ecology center. it destroyed a barn and two outbuildings that housed a woodworking shop. this is holman valley road. they heard explosions last night and came out to find a fire that burned for an hour. firefighters had to bring in water tracks to help fight the fire. investigators are due to arrive there at first light to try to figure out how that fire started. we will keep an eye on that. >>> this is san jose city hall. looking at hundreds of nonessential city workers who have been children at home but still getting paid on paid administrative leave. that ends may 4 whenwidespread furloughs go into effect across many departments. this is 1200 city workers here. lifeguards, crossing guards, recreation leaders, library pages and other positions with po joseies on revenm sales and property tax but with many restaurants scaled- back and most businesses closed, the income streams have dried up. even though car dealerships are still open, they are also not generating sales like they used to . with trave

joining me now is caroline heldman, an associate general professor at occidental college. i understand you have survived covid-19. i'm so happy to hear you have recovered and are feeling better. >> thank you, rosemary. it's great to be on with you. >> now that bernie sanders has dropped out of the race, we are seeing some of his ardent supporters venting on social media threatening not to vote for joe biden. how will biden persuade sanders supporters to vote for him and what role does sanders need to play if the democrats really want to beat donald trump? >> i think that biden has an easier case than clinton did in 2016 to pull in bernie sanders voters because we have four years of trump, right? democrats can look at this and say, we want to get this man out of office, even if we don't particularly like this candidate. i think he has an easier road to hoe than clinton did. this was enough of a margin in the states of wisconsin, michigan and pennsylvania to put him over the top. so biden really does need to make an appeal to, you know, bernie sanders supporters if he wants

occidental production down by about 5.5% today. of course, carl icahn heavily involved in at story.ake a look at the broader market. it is earnings season. earnings broadly aren't looking stellar. it is really their earnings going forward that have been statistically re-rated lower. s&p even given that, the p/e ratio is still the highest since all the way back in 2002. stock valuations are starting to look just a little bit frothy as we continue to see this rally take shape. finally, just from an earnings related mover on the day, we are getting tech earnings coming this week. twitter is on deck in just a few days. it was upgraded at mizuho today. yes, advertising revenue is expected to be down, but the company says that this valuation, it looks attractive. that stock is higher by about 5.5%. facebook up about 2%. similar story. people saying increased engagement on facebook and instagram will offset the weaker ad prices. finally, lab core and quest labcorp and quest diagnostics up at citi, saying that they will be a new terror but i'm -- a new paradigm as testing is key for reopeni

some of the oil companies hire by 5% as well, including marathon, conocophillips, and occidental. the dollar index is above 100, at we have crude trading $14.87, so we will be keeping an eye on that. guy: we certainly will. brent bouncing back reasonably strongly as well. oil and gas for the stoxx 600 in europe the lead gainer today. there are conversations floating about about whether brent and go negative. we are trading up 11% today. up 1.5%. the peripheral bond market, i massive story at the moment, as you can see. we saw a huge auction in spain earlier on, following on the heels of an auction yesterday in italy. we are continuing to watch what is happening as we build up towards an eu meeting tomorrow that could barely be make or break. the ecb talking about whether it could potentially accept grade that in collateral. -- italy is facing a rating review come friday. this is a live debate in europe. euro-dollar trading at $1.0852. coming up, we are spending a lot of time talking about what is happening with the oil story. we going to fold that in to what is happening with othe

the speculation that many energy sector companies will not survive this downturn, do you believe occidental petroleum will survive >> i saw that they issued stock to dividend to warren buffett. not in this form, i don't think they will survive, no. i'm jimmy chill now. i'm just going to say their recrennel acquisition was ill advised. if you want to know what companies are weathering the storm, look at the companies raising dividending. u.s. auto sales are expected to crater 80% this month compared with expectations before the pandemic what does that mean for carvana? i've got the ceo and covid-19 isn't invisible i'll tell you which stocks you should consider once we make it to the other side. and rapid fire in tonight's edition of "the lightning round. so stay with j and j and proctor and stay with cramer >>> you understand the scale of the damage of the lockdown what we need to hear from companies that are right in the blast zone, companies like carvana. these guys were using the web to disrupt the used car business. they let you buy a car online, free delivery with a seven-day return pol

so that fire destroying three structures in occidental in sonoma county.nes that burned are a total loss including a barn and a woodshop. no word on the cause of the fire. >>> happening today people with marijuana convictions may finally feel a little bit of relief. the county will wipe away convictions for more than 8,000 people tried to marijuana charges that no longer violate state law. felonies may be reduced to misdemeanors. this will be a record amount cleared all at one time. supporters say it may improve chances for some of those people seeking employment. >> not exactly a shocker here but nbc is projecting joe biden as the winner of yesterday's democratic primary in ohio. perhaps more importantly the governor there says there were no problems with the mail-in only vote. the election was supposed to happen last month but was postponed at the last minute. biden picked up a key endorsement from hillary clinton yesterday. >>> new questions over when president trump was warned the coronavirus would be a serious threat. >> scott mcgrew joins us now. som

a lot of people focus on occidental no when apache goes down, when you see the front of oil going downwhich it is, the etf frantically dropping the front future. that's the sign this has impact on the oils. the oils went up the whole times it was down to $37 a barrel. watch apache that's your gauge. find out if it's real or not >> yeah. we never even got to diamond offshore and the impact on lows this week. >> they had that modern week it was a jackup shallow. it's not where people have been looking for oil. the -- look, the big oil service companies are all really hurting. halliburton has gone up big since the quarter reported but those stocks were due in fact let's see what happens >> jim, nvidia tonight >> yeah. it's gaming but it's also wide area computing it's the data center computer. jensen huang is our greatest business person and a true engineer his building was designed by him. he's a delight and so smart and so honest. the opposite of a lot of the business we talked about today i feel sad about that. >> i wanted to squeeze in food supply ties within a full ad in the new york

marathon, occidental down in a big way, also take a look at this. halliburton shares. this is one of the nation's biggest suppliers of oil equipment to the oil industry it, finished higher. the price of oil is in freefall yet halliburton shares are up 2/3 of 1%. here is why. they announced cost cutting. we are living in a crazy market. another part of the market that had to do with oil is shippers. supertankers sitting at sea with millions of barrels of oil on them. look at the reaction. tk up 20%. scorpio tankers up 18%. so that is come green on the screen for you. one thing to note about oil, connell, as i send it back to you, it is expensive to turn off a well for instance. as we look at the other side of this pandemic that has ground the economy to a halt, we look at recovery, when we will need oil again, we might not be in a good situation because we've effectively shut down supply. just something to consider as we consider a recovery. back to you. connell: what a world. lauren, thank you. of. melissa has more on all of this now. melissa: here is dan pickering. he

the energy front, exxonmobil, continental resources, chevron, alabama power, conoco, phillips, o occidental petroleum and a few others. financial services, blackstone, paulson and company, citadel, elliott management, vista partners, fidelity investments, mastercard, visa, chubb, sequoia, charles schwab, chuck schwab will be here by phone. food and beverage, national restaurant association, mcdonald's, coca-cola, peps coa -- pep s pepsi cola, wolfgang puck, john george and danielle, you know them. chik-fil-a. transportation, fedex, united airlines, ups, yrc worldwide. maritime, powerful shippers. and telecommunication, liberty media, thank you all very much. health care, new york presbyterian, jerry spier, friend of mine. hcac health care, just met with sam. ascension health, trinity health, cardinal health, mckissen, 3m, thank you, mike roman, for helping us with face masks. worked out well for everybody. procter & gamble, abbott laboratories, johnson & johnson, merck, pfizer, ely lily, thermo fisher scientific, they've been helping us with testing. gilead sciences, regeneron, roche, roche

we have seen that in say like occidental petroleum earlier this week.emember, as an individual investor, those are probably more trading type opportunities. so don't leave it say hanging out in the wind too much with respect to some of that really speculative money because when that stuff does bounce for you, that's when you have to take profits and wait for it to rain again and then go back in when the sun comes out. charles: rob, real quick, what's our biggest risk right now as we head into the summer months and possibly a summer rally? >> yeah, i think the -- i'm out here in los angeles, and we're still very unclear when, you know, things are going to reopen back up. i think the biggest risk is that we stay closed for longer or even a larger risk is that we reopen and have to shut back down. i think that's what everyone's concerned about right now, charles. charles: scott, rob, guys, you're the best. appreciate it. have a great weekend. talk to you again real soon. meanwhile, folks, president trump signing another 484 billion dollars stimulus into th

we expect to see a meeting on friday between exxon and chevron and occidental and continental. their executives meeting with the president about what to do with the oil crash. oil and energy certainly helps lead markets lower today. overall a -- for cash. we see that in the safety trade. investors flocking to treasurys. some of these names, have individual stories like macy's, it knocked out of the s&p 500. marriott, they have a data breach in the midst of all of this. all these companies, sabre and la-z-boy, what they're doing, they need cash, instead of cutting health care benefits for the employees they're reducing, suspending some much their 401(k) matching contributions for workers. sew with that, send it back to you guys. connell: lauren, thank you. jonathan hoenig joins us with analysis, capitalist pig hedge fund founding member. also a fox news contributor. jonathan, we saw markets reach people thought was short-term low last monday. a huge rally from there. now much different stories we move to the middle of this week. what you see in markets and over the last week 1/2

energy, occidental petroleum, the american petroleum institute, energy transfer partners, chevron, andxxon mobil. i informed them that we will be making space available in the strategic petroleum reserve to let american producers of shale oil that can be sealed at a later time. there's a tremendous abundance of oil, primarily because of the virus. the virus has stopped demand of everything, including oil. so, we are working with our great energy companies. these are great companies. they employ tens of thousands, hundreds of thousands of people. they have kept america really going for a long time. no big price hikes, no big anything. they kept it going and now they got hit. with all the jobs and all of the good they do, we are going to make sure they stay in good shape. america is engaged in a historic battle to safeguard the lives of our citizens, our future society. our greatest weapon is the discipline and determination of every citizen to stay at home and stay healthy for a long time. we want them to stay healthy for a long time. stay at home. this is ending. this will end. you wil

so you do have names like apache, noble energy, devon, occidental and schlumberger moving higher today. >>> investors betting on casino stocks, particularly las vegas sands. the stock is jumping at the moment. lvs says it expects gambling to rapidly pick up in asia by late summer or early fall, once the travel restrictions in that region of the world begin to ease. you have lvs up $5.03, a gain of 12.25%. followed by wynn resorts, gaining 8.5%. rest of the names looking pretty healthy right now. >>> all right. at this time yesterday, we were telling you about the plunge in l brands as a half a billion dollar deal to sell its victoria's secret part of the business to sycamore partners was falling apart. sycamore was saying we don't want this anymore. coronavirus has been a disaster for retail. we don't like how victoria's secret has handled the situation. but the stock of l brands is now higher in this final hour of trade by five full percentage points after wells fargo came out and said there is actually still a strong chance the partial sale could still happen. the bank says sycamore

i was living in sonoma county, california, on a mountaintop called occidental, famed for three restaurants and nothing else. a summer afternoon at my grandparents' place, i was bored, looking for something to read and i stumbled across my grandfather's copy of "this h l hallowed ground." i still have that copy of his. it was a magical book to me when i first opened its covers. i knew nothing whatever about the civil war. and the interest really began then. it's interesting to realize now when i was reading that book there were only 48 states in the union. there was still one self proclaimed, though fraudulent, confederate veteran living. my interest evolved into increasingly serious study in the 1960s, trivdriven in large of an interest in my own family heritage, bloody battleground of western missouri and had multiple ancestors who served on both sides, one of whom died here in virginia, two days before those days of my developing interest all seem so long ago now. lyndon johnson was president. man had not yet stepped on the moon. elvis was still alive. so much time has passed since then,

vickie holub of occidental petroleum. mike summers of the american petroleum institute.ke wirth of chevron. and darren woods of exxonmobil. i informed them that we will be making space available in the strategic petroleum reserve to let american producers store surplus oil that can be sold at a later time. there is a tremendous abundance of oil, primarily because of the virus, the virus has just stopped demand of everything, including oil. so we're working with our great energy companies. these are great companies. they employee tens of thousands, hundreds of thousands of people. and they've kept america really going for a long time. and no big price hikes, no big anything. they've just kept it going. now they got hit. but with all the jobs and all of the good that they do, we're going to make sure that they stay in good shape. america is engaged in a historic battle to safeguard the lives of our citizens, our future society. our greatest weapon is the discipline and determination of every citizen to stay at home and stay healthy for a long time. we want them to stay hea

had exxonmobil, continental resources, chevron, southern company, alabama power, conocophillips, occidental petroleum, kinder morgan, hess corporation, perot group and a few others, big ones, great ones. financial services, we have blackstone, stephen schwartzman. paulsen and company, john paulsen. citadel, ken griffin. elliot management, paul singer. vista equity partners, robert smith. fidelity investments abigail johnson. mastercard. visa. chubb. sequoia. stevens, warren stevens, great. charles schwab, chuck schwab will be here by phone. food and beverage, national restaurant association, mcdonald's. darden restaurants. coca-cola. pepsi-cola. chick-fil-a, subway. bloom inbrands. yum brands. papa john's, starbucks, wolfgang puck. thomas kel lore. my friend john george, and danielle. you know them. from the transportation world, fedex, fred smith. a legend. united airlines, oscar munoz. ups, david abney. j.b. hunt. yrc worldwide. crowley. maritime. incredible, big, powerful shippers in transportation companies. telecommunications which have the legendary john malone of liberty media. veriz

devon energy harold hamm of continental resources jeff hildebrand of hill corp energy vicki hall of occidental petroleum mike summers of the american petroleum institute kelsey warren of energy transfer partners mike worth of chevron and darrin woods of exxon mobil i informed them that we will be making space available in the strategic petroleum reserve to let american produce a store surplus oil that can be sold at a later time there's a tremendous abundance of oil. primarily because of the virus the viruses just stop the demand of everything polluting oil so we're working with our great energy companies are great companies employ tens of thousands hundreds of thousands of people and they've kept america. really going for a long time and no big price hikes no big anything and they just kept it going and now they got it but with all the jobs and all of the good that they do we're going to make sure that they stay in good shape america is engaged in a historic battle to safeguard the lives of our citizens our future society our greatest weapon is the discipline and determination of every citize

had exxonmobil, continental resource, chevron, southern company, alabama power, conocophillips, occidental petroleum, kinder morgan, perrot group. financial services blackstone, steven swarzman, paulson and company, john paulson. citadel, ken griffin; elliott management, paul singer; vista equity partners, robert smith; fidelity investments, abigail johnson; mastercard, visa, chubb, sequoia, stevens, great. charles schwab, chuck schwab will be here by phone. food and beverage, national restaurant association, mcdonald's, garden restaurants, coca-cola, pepsi-cola, chick-fil-a, subway, bloomin' brands, yum brarngsds papa john's wendy's, wolfgang puck, starbucks, thomas keller john george, my friend john george, and danielle. you know them. from the transportation world, fed ex, fred smith, united airlines, oscar munoz, ups, david abney, hunt, crowley, maritime, incredible big powerful shippers and transportation companies. in telecommunications, we have the legendary john malone of liberty media, verizon, t-mobile, charter communications, and brian roberts of comcast. thank you all very much

nikki hollow of occidental petroleum, mike summers of the petroleum institute.rren of energy transfers, mike worth of chevron, and darren woods of exxonmobil. i informed them that we will be making space available in the strategic petroleum reserves to let american producers serve surplus oil that can be sold at a later time. there is a tremendous abundance of oil. primarily because of the virus, the virus has just stopped demand of everything including oil. so we are working with our great energy companies. these are great companies. they employed tens of thousands, hundreds of thousands of people, and they have kept america really going for a long time, and no big price hikes, no bake anything. they just kept going. and now they got hit. with all the jobs and all of the good that they do, we are going to make sure that they stay in good shape. america is engaged in a historic battle to safeguard the lives of our american citizens, our future society, the greatest weapon is the discipline and determination of every citizen to stay at home and stay healthy for a

exxonmobil, chevron, occidental, devon energy, phillips 66, energy transfer partners, run by kelsey warren, probably the richest man in texas, if not number two, and the former ceo of continental resources, harold hamm seven, at least, ceos will be going to the white house on friday, kelly and tyler, in person to discuss energy policy. >> brian sullivan, thank you very much. and from energy policy to automobile sales, toyota out with its numbers for march and they are pretty bleak. let's go to phil lebeau with the numbers. hi, phil >> tyler, they are bleak in the first quarter, toyota sales here in the united states falling 8.8%, just a little bit weaker than the edmonds estimate of a decline of 8.6% but forget about the first quarter, because we knew that january and february were relatively strong. what happened in march gm and fiat chrysler have not told us what happened in march they only give us q1 sales but toyota gave us the month of march. this is a glimpse of how bad it is for the auto industry a decline of 36.9% for auto sales in the month of march here in the united states for t

energy, occidental petroleum, american petroleum institute, energy transfer partners, chevron, and exxon mobil. i informed them we will be --ing space available to met to let american producers store surplus oil that can be sold at a later time. there is a tremendous abundance of oil because of the virus. the virus has stopped demand of everything, including oil. we are working with our great energy companies. they employ tens of thousands, hundreds of thousands of people. they have kept america really going for a long time. no big price hikes. now they got hit. with all the jobs and the good that they do, we will make sure they stay in good shape. america is engaged in an historic battle to safeguard the lives of our citizens. weapon is the discipline and determination of every citizen to stay at home and stay healthy for a long time. we want them to stay healthy for a long time. stay at home. this will end. you will see some bad things and then you will see some really good things. it is not going to be too long. we will heal our citizens and we will care for our neighbors and we will

taking a look at companies hit, occidental down, schlumberger and exxon down almost 4%. are of the big oil services in the u.s. enp's getting hit hardest, as well. this is bloomberg. ♪ 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. alix: welcome back to "bloomberg daybreak." i'm alix steel. chuck schumer says there has been a deal on interim stimulus. they will top off the payroll protection program as well as additional funds. s&p futures off the lows but still down 1.6%. definitely a risk off mood. i wanted to highlight european banks. prices cratered, the exposure to the banking sector coming front and center. the commodity exposed currencies will get hit. australian do

energy, vicki of occidental petroleum, mike summers of the american petroleum institute, energy transfer partners, chevron, and darren woods of exxon mobil. i informed them we will be making space available to let american producers store surplus oil that can be sold at a later time. there is a tremendous abundance of oil primarily because of the virus. the virus has just stopped demand of everything, including oil. so we are working with our great energy companies. these are great companies. they employ tens of thousands, hundreds of thousands of people. and they have kept america really going for a long time. and no big price hikes. no big anything. they have kept it going and now they got hit. with all the jobs and the good that they do, we are going to make sure they stay in good shape. america is engaged in a historic battle to safeguard the lives of our citizens, our future society. our greatest weapon is the discipline and determination of every citizen to stay at home and stay healthy for a long time. we want them to stay healthy for a long time. so stay at home. this is ending.

struggling occidental petroleum is starting a grassroots movement to get help for the oil industry. ceo encouraging employees to write to congress to ask for relief. a draft letter asks the government to help in the oil price war. that is your bloomberg business flash. alix: thanks so much. let's just take a moment ending about how nuts that is, that a ceo is going to ask employees to write letters to the congressman about the oil price war. rest of the market goes a little bit risk off area in crude prices in the u.s. are up by almost 8% to $27 a barrel, yet all analysts want up saying that no matter what cut anyone is going to agree on, you are not going to see any material reduction until may, which means april still sees a risk for a shortage of areas to store the oil, and the weaker that gets, the weaker oil price gets. we run out of storage, we run out of places to put it, oil prices go lower. still seeing some downside issues with that across from all analysts. in terms of what brings that to the table, an interesting dynamic playing out here. on the one hand, you're looking

last time we talked, you still liked occidental. how are you rejiggering this?to do in the interim with supply cuts. but what is demand going to look like? most people have been very negative on the subject. for the last 10 years, investors haven't really made money. buffettwas a space that and peter lynch were out talking about come our view right now is really two things. one, we could be dead wrong about the space. two, we could just be early. when i say early in this process, we don't get to see what demand looks like coming back, and the most positive thing we saw in the last couple of weeks about the energy declaringas bankruptcy, but that is what takes place during this kind of environment. it is the supply cut that you don't do through a government mandate or a highly political situation. we will see those role for a while because there are quite a few producers that can't produce at these prices. just to get a sense, 80% of the american production of oil is done by 50 producers. the other 20% is done by thousands of companies. the question is, between t

give you a little bit of example of who's expected to be in the room, the heads of exxon, chevron, occidental, industry representatives, too, just to give you a few. there of course has been a lot of focus on this saudi arabia/russia standoff and what that has done to oil prices. you talk about the comments made from vladimir putin as well. but that's only half of the story or part of the story, however you want to divvy it up. there has also been back here in the u.s. this cratering of demand for oil and for gas, because of everything that's been going on. i can tell you a conversation that i was having earlier today, that was brought up to me at the very beginning. yes, there's saudi arabia, russia and that whole dynamic but back here in the u.s., the demand is simply just not there. it's part as well of what larry kudlow told stuart varney earlier today when he was teeing up this 3:00 meeting at the white house later this afternoon. watch. >> well, look, in terms of the pandemic and the collapse in demand, there's nothing we can do right away. there may be some issues, smaller items that i

exxon, chevron, occidental, devin energy and others. they're not going to destroy each other remember there's an opec virtual meeting theoretically planned for monday trump's been talking with the saudis, so likely he's looking to round up the u.s. troops and say what's your status so he can go back to the saudis and maybe the russians and say u.s. producers agree maybe to cut back again, i'm speculating and we'll see. the other thing, guys, which is a little weird, is this idea of suspending the jones act, which requires all shipping in america to be done by american owned, american crude and american ships. you say what the heck does that have to do with oil? here's why you care. there's only about 100 jones act ships out there in the united states they're about three times more expensive to charter than foreign owned ships. so if you suspend that, it would allow american companies to use foreign flagged ships to say send u.s. oil from houston to new jersey right now, it's hard to do that or impossible so you end up buying foreign oil

wildcatters, smaller businesses if you take exxonmobils and chevrons out of this, to lesser extent occidentals host of others they're still feeling the pinch. not as much as you would think. off lows early this morning but still down appreciably. so we'll be looking at the forward month contract where june is the most heavily traded at the moment. so we will keep an eye on that but we will also keep an eye on some forward-looking contracts that go into september, october, november, where the betting seems to be that oil will recoup a lot of these losses and be at the 25, 27 a dollar a barrel range. no way of knowing. i know one guy has the idea of connecting the dots. best oil reader on the planet, phil flynn. he joins us now. phil, how is this playing out in your eyes and what can we expect now? >> what we're see hearing is is a lack of confidence. yesterday when you looked at the back end of the curve, june, july, august contracts, they were saying quite clearly that oil demand will come back and the situation we're seeing with the may delivery going negative was a temporary situation but it