Countries planning to impose a digital tax saying it will defend all actions for American Business and intentions over big tech the pentagon moves 1,600 troops as protesters defy curfews and continue to take to the streets of america a warm welcome to strooinz pmi today. The euro area. We have got the individual companies. The final composite for may has come in at 31. 9. The Services Sector came in at 30. 5 ahead of the flash number of 28. 7. The down turn ease in may. Growth still some way off. We have bounced off the lows seen in april. The euro continually higher. Euro has been very strong of late investors getting excited about the Commission Recovery plan trading about 40 basis points higher than the dollar now weve also got fresh numbers crossing on italy and italian unemployment the jobless rate coming through. The jobless rate came in at 6 bot 32 better than the consensus of 9. 5 . March was revised previously better than the market had been expecting. A couple of comments aro
That was a sea change over what we have seen the last eight weeks. Francine hyde park was definitely packed as well and on saturday. It kind of goes to the challenges the authorities have as you look at the infections in real time to see whether you can go back to full lockdown. This is what markets are trying to figure out as businesses are reopening but you dont exactly know for how long. Tom it is true, nation to nation as well. Brazil having a particularly tough go of it. Statistically there is much more we can talk about about the economics and financing and also how it all folds into this pandemic. German powell front and center on that chairman powell front and center on that. Right now with our first word news. The Federal Reserve chair says the u. S. Recovery could drive through 2021. He told 60 minutes the economy will recover steadily through the second half of this year, but he said a full recovery depends on people being confident and that may not happen until a vaccine is
Records. Fog increased around sfo. 40s and 50s on the temperatures. Mostly sunny today. A few high clouds to the north. A little patchy fog here. There is a breeze in the hills, gusts of 30 to 35Miles Per Hour. Temperatures will bump up a little bit. Middle peek at 40 Miles Per Hour. 33 at mount diablo so it is rocking and rolling in the Higher Elevations. Look at this system to drive across a few high clouds so 60s, 70s, 80s. Sal is here. It was quiet for awhile and he said we have something new. Is that still there . Yes. They were clearing a crash on 580 eastbound at central. It didnt cause much of a traffic jam because traffic is so light. They were working on it. It was an injury crash reported. Maccarthur maze area looks pretty good. A lot of people are out there, just not enough to cause a traffic jam but it is there are a lot of people driving across bridges and across causeways without major delays right now. Coming in on 7 02. Back to dave. Well, the United States closing in
Coverage. Blake burman with the latest from the white house, Lauren Simonetti is watching the markets and Edward Lawrence is in washington. Lets kick it off with edward. Reporter exactly. Chairman Jerome Powell, Federal Reserve keeping Interest Rates where they are foreseeable future. Federal reserve chairman Jerome Powell said the coronavirus had Significant Impact on Economic Activity, employment and inflation, further lowering expectations. The Federal Reserve chairman believes well see doubledigit unemployment when the next Unemployment Rate comes out. He backed off saying there would be a robust Third Quarter going farther, saying some uncertainty around when the crone cron treatment will be available is when in fact the economy will start to pick up again. But he would not say if the announcement after treatment or a vaccine changes anything that the fed is doing. Also Federal Reserve open Market Committee statement saying that the fed will keep rates where they are until they ar
Joe, the big story is oil prices once again im ready to move out past june move out where . June is too close if we are not going to open anything up, no reason to think it will be anything different than minus 38 a barrel it is related to the price of gold and the price of a suit, so i should have been buying andrew, you are spending 10 times what you are on a suit with those hugo boss things. Which none of them have belt loops for 4,000, you could get a couple of belt loops no hugo boss. It is ralph. Ralph who oil prices, it is not funny. This is out of the realm of anything weve ever seen brent crude only a 20year low you look at wti or what may was before the contract rolls. It is incredible supply shortage spiked overseas. The u. S. Movement, wtis june contract the price giving up earlier gains. Up 11 see, im ready to move to september. August at some point what does this mean for the saudis youve had your picture taken there on a sand dune youve got a feel. They should have done