Now recall, back in the cares act there was an extension of a federal supplement to Unemployment Insurance. So we put in place a 600 federal benefit on top of the state benefit. At the time there were concerns about whether that would lead to people on Unemployment Insurance getting more money than they would at work, and there was actually an amendment here on the house floor, on the senate floor regarding that. And although it did not pass, i think pretty much every republican supported it with that concern. In fact, thats whats happened. If you look at whats happened over the past couple of months, as the 600 has been put in place, it clearly has led to people making more on Unemployment Insurance often than they can make at work. In fact, the congressional budget office, which is a Nonpartisan Group here in the United States congress that analyzes some of these economic issues, has said that if someone is on Unemployment Insurance today, they are likely to be making substantially m
Quorum call the presiding officer the senator for mississippi. Without objection. Under the previous order, all postcloture time has expired. The question is on the nomination. A senator i ask for the yeas and nays. The presiding officer is there a sufficient second. There appears to be. The clerk will call the roll. Vote vote vote the presiding officer are there any other senators wishing to vote or change their vote . If not, the yeas are 556789 the nays are 42. The nomination is confirmed. Under the previous order, the motion to reconsider is considered made and laid upon the table and the president will be immediately notified of the senates action. A senator mr. President . The presiding officer the senator follow alaska. Mr. Sullivan mr. President , i ask unanimous consent the senate proceed to legislative session for a period of morning business with senators permitted to speak therein for up to ten minutes. The presiding officer without objection. Mr. Sullivan mr. President , i
The scene. We had the huge selloff down 35 from the highs then the giant bounce back this week, up 19. 9 going into today. A real pasting most of it at the end of the dow with the dow slipping 915 pounds, s p climbing 3. 3 . Nasdaq falling 3. 79 just like yesterday, which had the big whoosh up, this had the whoosh down. We need to figure out whats next either a continuation of the selloff evolving into a retest, where the market goes back into earlier lows or take them out or resting period, setting us up for the next move higher not much in between here what makes the situation so dicey . Next friday we get the labor departments nonfarm payroll report based on this weeks hideous jobless claims number, we could expect a real doosey this market is a tug of war between the bears bracing for a possible depression if we cant stop covid and the bulls betting on a boom if we do beat it because of the liquidity being injected into the system by the Federal Reserve and by the 2 trillion build
The centers for Disease Control 7,038 casest least 97 people have died. The virus has been detected in all 50 states, as well as the district of columbia. Puerto rico, guam, and the virgin islands. New york, Washington State and california have the most cases at 2,6930. The Trump Administration invoked Emergency Powers while lawmakers consider several measures to help workers. Were going to defeat the invisible enemy. I think were gonna do it even faster than we thought. Reporter President Trump along with his Coronavirus Task force announcing new steps the federal government is taking. Well be invoking the defense reduction act. Just in case we need it. Reporter the defense production act am boost production ofcal medical supplies hospitals need. Like n95 facemasks, hand sanitizers and ventilators. The availability and speed of testing is starting to ramp up, which will likely mean somewhere around the number of confirmed coronavirus cases. We will see the number of people diagnosed d
Im Morgan Brennan with melissa lee and mike santoli live here at post 9 at the New York Stock Exchange carl and jon are both off this morning. Weve got a big show ahead with shares of uber tanking more from our exclusive interview with Ceo Dara Khosrowshahi in just a few minutes. And later, dropbox dropping in a big way with those shares down 13 . Ceo drewhouse will join us in another exclusive at the bottom of the hour. But first, well begin with whats really been a wild week for the markets with the dow down triple digits again down right now about 165 points. What should investors make of the big swings in stocks that we have seen for this week . Bob pisani has those answers from the floor here for us bob . And the answer is that it depends on what the president is doing on tariffs and what the Federal Reserve is doing the president just making comments moments ago, not ready to make a deal on china yet, and thats frankly whats been moving the markets for the last week or so you see