meantime, i want to bring in romaine bostick. you have been following the markets all day. ere have been some good days, but most days have been down days. what was driving the market today? romaine, are you there? looks like we lost romaine. we are going to go now to the ceo of google cloud, who is joining me now on the phone. you,s, before i get to just want to show what the market has been like for google over the last month and a half. google shares down from a peak but this has been a time of record business for you. you have seen unprecedented demand on google meet, your videoconferencing service. if you will, talk to us about how you have navigated a surge in demand and business as all of your own employees have had to work from home. seens, we have extraordinary interest in our cloud offerings, our collaboration tools, meeting product, and cloud platform. we moved our employees to work from home early, recognizing this would likely be a global issue with the virus. it is an extraordinary growth in our meetings product. just to give you a sense, 2 billion minutes of m

. ♪ ♪ , i ame: broadcasting live romaine bostick with scarlet fu.rlet: joe weisenthal will join us shortly. here is a snapshot of u.s. stocks. they rallied along with oil prices, energy leading, treasury's decline, and the dollar gained. breaking news from tesla, coming out and giving first quarter production numbers, 102,672 vehicles, down 2.1% versus the previous quarter, but beats estimates and shares are moving higher after hours. tesla says its production of the schedule, ahead of and it's shanghai factory continues production. deliveries overall at 88,400, that be estimates, deliveries, when alice were looking for 78,052. the production numbers of 100,000 -- 102,672 is down quarter on quarter. anyine: we are watching economic recovery, wind, and how strong. to get more insight into what could happen and where we are now, we want to bring in the global economic advisor for pimco. let's start off with the general idea that we are in uncharted waters. there are not a lot of parallels we can make to compare it with past events. i want you to give

this is bloomberg. ♪ this is bloomberg. ♪ i am romaine bostick very welcome back.alongside my cohosts scarlet fu and joe weisenthal, who is in austin, texas. what have you been keeping an eye on? joe: a pretty extraordinary day in the markets, the huge rally that is catching everyone by disbelief. but i'm struck, if you look at the winners today, very much sort of these cyclical areas of the market, real estate, energy and so on. there are some striking facts about this market overall. one of them is the fact the nasdaq now down less than 10% -- people who loved, even throughout this holding on through a lot of the big-name tech stocks, they have done well. s&p, some of the more cyclically sensitive areas like energy. ok, a moveo think like this shows some believe. it is now not just hiding. there is some sort of optimism about economic recovery, judging by today's internal live shot. scarlet: it shows positioning before the opec-plus meeting thursday and the g20 energy ministers meeting. energy stocks, the second-best performers, gaining. so far in april they are

romaine: dan david, we appreciate you taking time to be with us today. stay tuned, we will be back in a moment. this is bloomberg. ♪ bostickarlet fu joining me virtually, and joe weisenthal joining us by phone. joe, what are you watching? peopleviously, a lot of in the market have been encouraged over the last few days by some of the bending of the curves. soon, attention is going to focus on, ok, we start to get the case counts down, but what is the actual plan for resuming economic activity? soon, we might have some examples -- of course, the epicenter of this whole crisis, wuhan, now having officially come out of lockdown according to the rail authorities. aso, austria, which has done alsoy good job, they are plans bybout their reopening certain this is gradually including -- certain retailers. soon, parts of asia and soon with europe, we will see what is feasible. a lot of people will be looking at, can these companies return to some semblance of normal life or does that create a second wave? scarlet: the u.s. is behind austria in terms of opening up some of its economies. reopening the economy is not like a switch. it

i want to bring in romaine bostick. this investors waking up to the fact this is going to be going on indefinitely? romaine: that is what it is. the town changed -- tone changed yesterday out of washington. the cheerleading ran into the reality we are seeing a growing number of deaths. where i have at in new york -- i am at in new york and the visuals on the ground, it is depressing and stark. it is reminder of how much longer we have to work ourselves through this health crisis and what that means for the economy. the idea you're seeing more cities and states begin to either impose shutdown orders or impose -- when they talk about the market response, the market is pricing in recession expectations, the idea the recession is deeper, longer, and the recovery may not be the v shape some were hoping for. only one stock in the dow jones industrial average, that was jumprt which had about .4% today. when you look at the s&p 500, you had eight stocks that were higher. the nasdaq was a small cadre of stocks, t-mobile and insi

i am romaine bostick, joined as always by my cohost, scarlet fu. scarlet: a snapshot of how u.s.cks closed on the day. the biggest one-day decline since april 1. it is also the first back-to-back decline for stock indexes since april 1. after the market close, we did hear some fairly -- numbers from netflix. texas instruments went ahead with forecasts, believe it or not. it was a pretty wide forecast. 3.1 9 billion. you are talking about a $900 million gap. tothe eps side, it was $.64 $1.04. those ranges are so wide, who knows where it is going to be. at the moment, we are also getting snap earnings at the wire. active users, 229 million, right around what analysts were looking for. scarlet: better than expected on those daily active users. analysts -- that is compared with 320 million a year ago. in terms of outlook for the second quarter, snap is not providing any kind of guidance. netflix is providing guidance. what it sees right now is second quarter revenue. that is after revenue topped analyst estimates for the first quarter. netflix certainly a beneficiary of the stay-at-h

i am romaine bostick, broadcasting alongside my cohost, scarlet fu.imism seeping back into the market. scarlet: volume picked up on the u.s. trading day. this followed gains in europe and asia as well. passed the worse, with major indexes having their best gain in almost two weeks, up almost 7%. one headline we have been keeping an eye on closely is what is going on in the u.k.. prime minister boris johnson has been moved into the icu for his coronavirus treatment after his condition worsened. this has led to questions over who will run the country. in joining us by phone, tina at avon a partner hurst, a political and legal advisory boutique in london. in your london, the u.k. prime minister now hospitalized. we outward from the u.k. that dominic raab, the foreign secretary, will be taking over some of his duties where necessary, where appropriate. what does this mean for the running of the country? michael: -- tina: it is a good question. bearing in mind that the u.k. does not have either a written any kind of vice president like the u.s. has. the re

broadcasting to our viewers worldwide, i'm romaine bostick. this is "what'd you miss?"carlet: let's get you a snapshot of how u.s. stocks closed on the day and on the week. 1.9% up forng at the dow, 1.7% gain for the s&p 500, and the second straight week of gains as well. days after declaring total authority over states, the president is telling state governors it is their decision over when and how to reopen the economy. he recently unveiled general guidelines. but left all the critical questions unanswered. let's bring in josh. i'm looking at a headline that just crossed about illinois governor. sounds like the governors have a call and they are deliberating and making their decisions. now have states begun to do that president trump has punted the decision to them? >> we've seen some states start to move today to perhaps relax things somewhat. weekresident began the trying to get states to do what he wanted, and yesterday, his roadmap, if you want to call it that, left some of the decisions to states. we don't know whether a tie goes to the runner when it comes to op

. ♪ ♪ romaine: i am romaine bostick in new york city. this is "what'd you miss?"ned by michael scarlet fu and joe weisenthal -- joined by my cohost scarlet fu and joe weisenthal will be joining a. scarlet: u.s. stocks giving back a little bit of the big rally from last week, closing out their biggest one week rally since 1974. we will be keeping an eye on oil and talk a little bit about the turnaround in oil prices after donald trump rocher day production cut deal between russia, saudi arabia, and some of the other producers. governors across the u.s. are joining forces to coordinate plans for reopening the economy. let's bring in a senior scholar at johns hopkins university. on emergingfocused infectious diseases, preparedness, and bio security. investors, governors, the president are all looking ahead to figure out how we go about reopening the economy. ideally, a plan would also involve widespread testing. i wonder, the other part of it, how long it would take to get a vaccine. >> with vaccines, we have four in phase one clinical trial. that is record time. we

. ♪ romaine: broadcasting live from new york, i'm romaine bostick alongside scarlet fu.he question is "what'd you miss?" scarlet: if you look at equities, you missed a rally from 2:00 to 3:00 and we finished solidly higher after a mixed start at the open. we end the week on an up note when we started the week with oil plunging into negative territory. for the week, stocks are down, but it sets us up for an interesting place before earnings next week. when you look at the big measures andfed's trillions of dollars in fiscal relief have helped support the market. do you see that? do you hear that among investors? it certainly concerns that people think you throughout too much free money out there and we go back to misallocation of capital and rewarding the wrong people, but i think that is not playing so much of a role here. driven bytly this is the way the central banks are designed. there is a fair bit of constraint. , iyou look at other programs think it is the behavior of the market itself. market,a rally in the or if you also look at gold the money markets, there are

i am romaine bostick alongside my cohost, scarlet fu. wlet: a snapshot of stocks closed on the day. indexes retreating six week high. the dow off 2.4% with chevron and exxon leading losses. romaine: ibm numbers are out. the one key revenue number falling year-over-year. the company withdrawing its full-year forecast. the other numbers, total cloud .evenue operating eps number slightly above what analysts were expecting. on that metric. , that was theue estimate, a miss on revenue. a beat on eps, miss on revenue. that full-year forecast being withdrawn from ibm. scarlet: no surprise. it will be one of many companies that will pull their guidance. in the meantime, i want to go back to our top story of the day, the plunge in oil prices. the may contract for wti settling at -$37 per barrel. for more, let's bring in catherine, who covers oil for us. we keep saying that the may contract expires tomorrow. it does not expire until 2:30 p.m. tomorrow. the price chart for oil was a straight line down. what does that mean trading will look like tomo

romaine bostick will be with us later this hour. here is a snapshot of how u.s. stocks closed.t to the federal reserve with additional aid, u.s. stocks rallied for the third time in four days. they are now closing at one month highs. they had their biggest weekly gain since 1974, gains of at least 12% for the major indexes. washout in thent first three weeks of march, some measure of calm has seemed to return to the public markets. i am pleased to welcome the noted short seller jim chanos. with founder and associate kynikos associates. i want to start with when a shakeout in the private markets looks like. we have seen it already in the public market. what does the equivalent look like in private markets as those markets work through all the wreckage? -- and is interesting thank you for having me on. it is never a dull moment these days. discern the private market, a few different buckets. you have private funds, private venture capital and elsewhere. the thing that is most intriguing to me is sort of the trials and tribulations of private equity, how they are themselvesresent

patient as we rattle ♪ romaine: broadcasting live from new york to our viewers worldwide, i am romaine bosticklongside scarlet fu. this is "what'd you miss?" scarlet: we are looking at losses for the s&p, dow, and nasdaq. a slew of $4 billion in covid-19 costs affecting that guidance. visa shares moving a little bit here in after hours. this is after it says its business model is resilient. epsical second quarter beating the consensus estimate. 2%,s-border volumes about slightly lower than what analysts had been looking for, which was 2.9%. romaine: gilead earnings did come across the wire. the estimate was for 157. the company is taking steps to expand the manufacturing production of the main drug in trials right now that is being hailed as a potential treatment for covid-19. been in the news prior to the outbreak. it had seen some of the sales of its main drugs drop. genvoya fell 19%. that was a trajectory for a lot of main drugs. they are putting a lot of expenses into remdesivir. we want to go from what is happening in the equity markets, what is happening with corporate profits, to talk a

i am romaine bostick alongside scarlet fu. this is what did you miss?> we had a rally in the stock market as investors look past the gdp numbers. it showed a contraction. they're focusing on what is to come. we had a seven week high the s&p 500. a big rally in small caps as well. after the market closed, we had from microsoft and facebook. microsoft reporting revenue in the. at $33he time that ended billion. earnings per share coming in at 1.40. about the talk slowdown in transactional licensing in the final week, even as it's more personal computer division benefited from increasing demand from people working at home. the other big news is that decision by the federal reserve, no decision but the outunication we got did lay a pretty stark assessment of the u.s. economy and of course how much the fed will do to continue to try to underpin some sort of economic activity. we want to bring in seth carpenter. we want to get his thoughts on what we heard on jay powell and what we heard out of the fed over all. when you listened to powell today, you came away

. ♪ ♪ ♪ live fromroadcast a new york to our viewers worldwide, i am romaine bostick alongside scarletcarlet: here is a snapshot of how u.s. stocks closed. leading the way, up by almost 4%. the fed and ecb will both be holding scheduled meetings later this week. now, with some countries and some states easing lockdown restrictions, it is still unclear how we will be dealing with the coronavirus going forward. we spoke with joshua sharp's team at the johns hopkins bloomberg school of public health about testing community. >> i think the current reading, like with most viral infections, they will be some degree of immunity. for how much and how long, it is not known. it is also not known which test will capture that. i don't think there is concern that this will behave very differently than everything else, but there is a desire to really understand the specifics before making the policy. >> the glide paths are clearly getting better. when do we get to where we flatten the curve? if you extrapolate out any of paths, arehmic wide we flattening of the curve in days, weeks, or does it take

. ♪ ♪ romaine: broadcasting live from new york to our viewers worldwide, this is romaine bostick alongsiderlet fu. scarlet: stocks finished down with the s&p 500 snapping a two-day advance. make a cap tech names and a lower. of course, alphabet reporting after the close. alphabet shares moving a little bit higher here. there was a little concerned that a company depended on advertising might not necessarily manage. traffic acquisition costs coming in at 33 billion, slightly above the estimate. the cloud revenue, 2.7 8 billion, up on a quarter over quarter basis. the ceo saying that people are relying on google services. the estimate was for 1035. as expected, no outlook here, but they are saying that other google services are being used here. scarlet: we will give you more recaps as the hour passes. let's look at what the companies are doing right now in the race to come up with a treatment. company in acap phase one trial. you so good to speak with this afternoon. withus how things stand your odyssey trial. when do you expect treatment of inflammatory lung injury associated with infection

romaine: i am romaine bostick. this is "bloomberg markets: the close."we closed above 2800 on the s&p 500. we opened below that level and it has been downhill ever since. we have not come back close to that since. energy, material, financials are the sectors with the biggest decliners. there are a few stocks moving higher. we continue to see amazon and netflix trading near record highs, at record highs at the moment. walmart hit a record high yesterday. some of the gains got reversed. the big story is what we are seeing in the oil market. again, the weakness in oil.

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

. ♪ romaine: broadcasting live from new york to our viewers worldwide, i am romaine bostick, this isat'd you miss?" i am joined as always by the cohost scarlet fu. scarlet: stocks closing flat, mixed with major indexes giving up early gains. we heard from several companies. intel reported first-quarter beat. the current quarter, revenue forecasted top analyst estimates but the eps number falls short. it says it will keep its dividend unchanged and will reinstate buybacks as circumstances warrant. shares down in extended trading, ingand peers lower -- pull peers lower as well. not providing a full year outlook -- romaine: their credit card delinquencies at 2.95%. credit card charge-off at 4.68%. all of those numbers are slightly better than what the street was expecting. the shares in after hours trading pretty much flat to down slightly. scarlet: when it comes to the u.s. stock market, a report that gilead sciences experimental treatment did not do well in initial clinical trial. that was one of the reasons why stocks lost momentum. this comes as this debate over reopening the econom

i am romaine bostick. scarlet fu, joe weisenthal will be joining us later.rlet: we start off the second quarter the way the first quarter ended with big losses. the s&p falling at least 4%. more than 7% for the russell 2000 in decline. investors brace for a longer economic shutdown. the federal reserve we know has taken unprecedented action to stem the fallout from the coronavirus pandemic including a new lending program for main street businesses. with -- ters at down to discuss the different lending programs and how the new lending program may be a couple of weeks away. >> it is a compensated facility -- complicated facility. [no audio] scarlet: we seem to be having some problems with his comments, but he said it is a complicated facility to scope and it will take a while to scope. they will work over it the next few weeks. let's hope there is no technical issues here as we bring in our next guest. she is a former fed economist and now director of macroeconomic policy at the washington center for equitable growth. good to speak with you. are you there? >>

. ♪ joe: live from bloomberg's world headquarters, i am romaine bostick. m scarlet fu. markets: themberg close of another disastrous jobless claims report. romaine: look, we were all expecting a pretty awful report. we are getting higher of the highest of all estimates, that 6.7 million jobs, if you will. 10 million jobs now lost, that is really the number. number everyone is paying attention to his 10 million jobs lost here in the u.s. over the past two weeks. 10 million people in the unemployment lines and millions more likely to be added over the next couple of weeks as we move deeper into what is obviously now called a recession. as far

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

romaine: and i am romaine bostick. this is "bloomberg markets: the close."uick check on the markets. still hugging the 50-day moving average. technical we saw a bull market reemerge. the real story of the day is what we are seeing in the oil markets right now. trading at $.50. this is a contract that expires tomorrow. anyone caught holding the bag today will have to find something to do with the oil. right now on the physical market, they are getting about $2 a barrel. there is no place to store it at any reasonable cost. people are pretty much paying someone to take these contracts auth hds

romaine bostick is standing by at his home. he will join us shortly when we get him up and running.me, let's check in with mark compton for first-order news. mark: thank you so much. americans will need to continue social distancing and using face coverings for months. that is from acting homeland security chief chad wolf today. during a live event today, he said mitigation measures will be critically important beyond next month or the month after. dr. anthony fauci says he expects a quick decision from prayed he is hoping the agency approves emergency authorizatio

this is romaine bostick alongside scarlet fu and joe weisenthal is going to join as later in the hourscarlet: just to give you a snapshot of how u.s. stocks closed, they slumped on the day and on the week as well. the dollar gained and treasuries moved higher. that on monday's conference call between the oil producers. one of the catalysts for today's decline was the jobs report from march. u.s. unemployment rising at the fastest rate since 1975, hinting at the extent of the damage to the united states and the global economy. our next guest rights that a nationalized payroll could help. associate professor of economics and director of the economics program. for joining usch today. can you explain what you mean by nationalized payroll? i scarlet, romain. attempt to look at different approaches to addressing the coronavirus epidemic and the fallout in the labor markets. looking toward some of our european counterparts in terms of protecting payroll, i asked the question, what if we had the government simply underwrite the payroll and pay for a particular period of time. it was an exerci

i am romaine bostick and this is "bloomberg markets: the close." be joining me shortly. let's check in on what we are seeing in the markets today. we had a rally earlier in the day. ast of that has dissipated concern creeps back into the market. the dow jones and s&p still in the green straddling the line between gains and losses. amazon, apple, facebook, netflix, merck are the biggest names having a drag on the s&p. could gono way it higher without those names participating in the rally. names higher today, bank of america, jpy's -- j.p. morgan chase, not enough to carry the day.

romaine: and i am romaine bostick. and this is "bloomberg markets: the close." we have a rally on our hands today. a lot of folks have been looking for reasons to buy. they seemed divided today. the major indices up across the board. the dow jones up 2.5%. the s&p 500 up 3%. more importantly, it is trading above the key 2800 psychological level it tested thursday and yesterday and could not hold. 4300. above you have stocks at record highs. amazon, walmart, eli lilly. you have a lot of cloud computing companies trading at a record high.

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

romaine: i am romaine bostick and this is "bloomberg markets: the close." at the markets, a little bit of risk aversion creeping back in. the s&p 500 down almost 3% on the day. you see buying in the treasury market. iteurope yesterday, entered a technical bull market. that has now retreated significantly. all this tied to the oil market. yesterday, it was a technical issue that rolled from the may to the june contract. if you look at the june contract, it is indicating now it is a lot more than a technical issue. this is a supply and demand issue. trading atntract now $9 a barrel in new york.

romaine: i am romaine bostick and this is "bloomberg markets: the close."day-shortened something that resembles risk appetite taking place. the s&p 500 up about 2% on the day, heading for a weekly gain of about 13% or more. seeing that across all major indices. we should point out when you look at some of the leaders, you're talking about financials and real estate. the leaders on the day is your leaders on the week as well. you are seeing a bit of dip uying on beaten-down names. bid atocks getting a

i'm romaine bostick. joe weisenthal is back from his bike ride.ve you been keeping and i on? couple weeks ago or maybe last week, who can keep track of the time anymore? we had larry kudlow talk about maybe war bonds would be a good financial instrument for funding and fighting this coronavirus crisis. we are not going to get that, but we are going to get long dated bonds. good old-fashioned normal treasury. it does seem steve mnuchin is inclined to go out a little bit on the curve for some of the financing. it is not going to be the retail products people associate with war bonds in the past. scarlet: what is the distinction of a war bond? julie no? -- do we know? joe: during the war, they wanted to encourage people to save money. i did not want people to spend because they wanted manufacturing and production as much as possible to go to the war effort. they created this retail product. they said we are going to pay you this above market interest rate to encourage you to save. everyone who knows our current situation knows that is the opposite of

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

romaine bostick will be with us shortly.tting him checked him with audio to make sure everything is working properly. equities are flying high. they popped at the open and have not looked back. we are seeing gains of at least 5.5% for all the major indexes. for the dow, a 6% advance. with the increase in equities, we are seeing a pullback in the vix, falling for the third day to a one-month low. now below 45 compared with a record 85 on march 18. we are looking at oil prices coming back a little bit. we are still waiting for indication on what is going to happen next with the opec-plus meeting between the opec producers and allies as well as other oil producers around the world. let's check in with our

romaine: i am romaine bostick and this is "bloomberg markets: the close." no worries.ill trying to sink up -- sync up as we are miles apart. 2% on the day. it is led by defensive sectors. the 24 as in groups, it is automotive stocks. the next day in emerging markets today. a little bit of weaknesses in equities. indid see a little strength ian currencies. i want folks to keep an eye on what we are seeing today and yesterday in the small cap and mid-cap space.

romain: and i am romaine bostick. looking at a little bit of a down day here in the markets.etty decent rally. that faded on friday. look at where the s&p 500 stands. you are coming off a long easter weekend here. are closed asts well and that is putting pressure on stocks. areme well below what we used to seeing over the past seven weeks. take a look at the laggards on a day like today -- real estate, financial, and industrials leading us lower. when you take a look at what is happening in oil -- this has been interesting -- go back to last week. we had this historic oil deal.

romaine: i am romaine bostick and this is "bloomberg markets: the close."uick check of where we stand in the markets. if there was ever a day where you had to question -- the question answered as to what the market was training on, we got the answer today. the s&p was up 1.6%. around 12:35 in new york, headlines crossed the wire about the experimental drug gilead is working on for a potential vaccine. those reports seem to suggest the initial trials were not as promising as hoped. we saw all those gains erased in minutes. we went negative on the s&p 500. some ofed to recoup the losses. gilead still down 6% on the day.

romaine: i am romaine bostick. this is "bloomberg markets: the close." day in the markets. we have been all over the map. a strange day. we saw the nasdaq at one point recoup all the losses for the year and turn green. it has backslidden a little bit. the dow jones is below are a good portion of the day. the s&p down about .1%. only three of 11 sectors are in the green at the moment led by health care and discretionary names. is interesting is most of these -- what is interesting is most of these discretionary names look more like recessionary names. these are your leaders of the day. true discretionary names

romaine: and i am romaine bostick. happy friday. this is "bloomberg markets: the close."ng to be an up week for the stock market. sometimes, you don't fight the price action you are seeing in the market. the s&p 500 headed for the second straight weekly gain, a modest gain. our leaders, energy and industrials. that is the leadership that brought you here on this day. 1.7% on the day. that is about what you are getting out of the week. in europe, we saw an even stronger rally. it went up 19% from the march 18 low, so just a little shy of what would constitute on a tech

i'm romaine bostick. let's get to the first word news desk or mark crumpton is standing by. mark? the load of the organization hopes the united states will reconsider funding for its agency. working on to fight the pandemic despite calls for his resignation. lastly, president trump announced a temporary halt of for wuhan from the united states. having awe are difficult day with audio issues, but we will sure to get mark crumpton back soon enough. mark obviously standing by, ready to give you your national headlines. we are not able to bring you that at the moment. let's recap some of the earnings we have gotten so far. romaine, when i look at the kind of numbers that have come out, it is been a mixed bag, and investors looking ahead to what kind of commentary they will get from ceo's on the conference call, that is not been full of certainty or any kind of clarity because there is not much -- romaine: yeah. automotive with their guidance. this will be on repeat for most of the earnings positively season. sayave heard from ceos that madonna spit hard guidance for 2020. a lot of inv