Case of virus elements as well, but not nearly as worrisome as we thought before. There are promising treatments on the way. We will talk about half a dozen cleared for takeoff, in face two, phase three trials. Not all of them but, prompted the president is optimistic that vaccine or some type of treatment would be ready by years end. The surge we saw in china, shanghai index notching a 6 gain. Highest momentum it has not seen in a better part of a month. Youre seeing similar robust gains across europe, european continent, optimistic even in more problematic places things are picking up. You have the good Economic News and good take over news. One in the food delivery arena. One with whisperings to come, initial Public Offerings and followup offers could become all the rage. This is interesting subset market too heady for folks right now . Share later in the broadcast by sheer statistical measures it is not, it is not too frothy. A view youre not often hearing people are worried when w
Including whats happening new york metropolitan area, for the first time in a long time the verge of Outdoor Dining, an alien concept, has been for the better part of ten weeks. Edward lawrence monitoring the development right now out of washington. Reporter Outdoor Dining, if it is not raining outside and also the heat, you have to deal with that, this was the last governors briefing in newark before the phase two opens, Governor Andrew Cuomo saying he will not do any more briefings, breaking the street of 111 in a row for the pandemic, he did indicate that all five boroughs in new york city are giving are on the way to the green light for the phase reopening on monday with Outdoor Dining, indoor shopping with office work with some restrictions. Listen. All regions of the state have lower infection rates in the state experts have gone over all the data and they will allow new york city to begin phase two on monday. But, covid is not over, we saw much more to do. We have to monitor the
At here. What is happening in new york city bears watching because if this phase one plan goes well in couple weeks, they could extend to restaurants, other offerings. It gets a little it about more involved than that. Kristina partsinevelos following it all. Kristina. Reporter neil, you said the word busier and that is a great way to explain it. There is a lot more traffic on the street. A lot more people on the corners. Im seeing people waiting in line on bus. A lot of retailers in the city remain closed. Im in times square, normally we would be packed like sardines trying to get to a shop. The old navy behind me, the gap behind me kept their doors closed. Phase one is supposed to allow, agricultural, manufacturers, construction sites, retailers all to open their doors but were seeing not even Curbside Pickup. A lot of major retailers saying theyre holding off. They want to see if people are comfortable going back out on the street especially since many businesses urged their workers
On the chin. Again what the experts sort of give they can taketh away. When Jerome Powell talked about the fact even with the flood of stimulus weve already seen, good idea to see more stimulus. He didnt put a dollar figure behind it. The Federal Reserve has spent trillions backing up businesses and banks by buying treasury bonds, corporate backed securities, etfs, and to back up corporate paper. That is unusual, in this particular case unprecedented. He seems to signal we are not out of this by any means. These delays in openings here as we heard new york metropolitan area, broadway doesnt do anything until at least labor day. People add up, lets push stocks down. Now there is good news though. We always want to posit that. Favorable developments on the new york state area, new york city to the point and new york area hospitalization as key level looked at closely continuing a decline has been better than two weeks. Anyway, we have David Lee Miller following all of those new yorkrelat
Apple. Be that as it may, the s p is falling for the fifth straight day. Again it is on track for its biggest loss since going back to december. The 10year note, which is a good barometer how people are feeling, if you are nervous, park your money in notes and bonds, people are doing that, these are the lowest yields in the better part of three years. Were keeping an eye on that, keeping an eye on other things were waiting for. President might comment on that or all the above. He wants to up the trade ante. The latest besides affecting tariffs virtually on everything we get with china, he is talking increasingly now it starts at 10 with the remaining goods. It could go up still further. As stuart was pointing out. A lot of other goods and services were talking aabout could easily ratchet and move in different directions. Well keep an eye on that. Also keep an eye on what has been happening on the Precious Metals front. Gold, for example, getting a lot of buying interest, a little less