Fox Business Team coverage. Phil flynn is the man of the hour watching all the oil action for us so well get to phil. Lauren simonetti on market. Blake burman from the white house. Well have more reporting from washington. Phil, like i said you you are te man of the hour. You never saw a day like this. Take us through it. Never in my life. A lot of people watching this market never thought they would see a day like this. You have a perfect situation where the contract coming for delivery with no demand there is somebody out there right now that wants to sell oil and there is nobody there to buy it. In fact this is the first time weve ever seen this kind of situation, connell, and it could be a shortterm situation because you look at some of the back months and the price of oil, there are still relatively strong compared to the front month but this is a disaster. It is a disaster because opec didnt act fast enough to cut production. It is a disaster because u. S. Producers didnt pull ba
The numbers have been in the millions for weeks after weeks. We can actually say its worse than we first thought. Take a look for yourself. Not only does 6. 6 million americans file for Unemployment Benefits last week. The new estimates say in the first week of the shutdown, theyve had too revise that number way upwards. It turns out one of the very first things that American Business did in the face of the coronavirus was fire workers. This is the largest number of americans all tolled, receiving Unemployment Benefits in history. Next weeks numbers will likely be bad as well. We know a lot of employees inem. The companys ceo accepting out a memo that reads today we will leave 1,000 people go and furlough approximately 1,100 more. Lets take you outside new york city. You mentioned marcus, more positive movement on the dow. The s p 500 up 23 from its coronavirus lows. Now, there were positive moves this morning as the Federal Reserve announced new maneuvers to get money to banks and ban
Good afternoon, everybody. Thank you for your patience. Both in allowing us to move this to 3 00 today due to the white house vtc, which we will come back to but a lot of good content, it ran a little bit long. We apologize for the fact. We are a little bit behind. Im joined by the woman on my right, the commissioner of the department of health. To her right, another guy in need of no introduction, dr. Ed. The guy to my left who doesnt need an introduction, pat callahan. Joined by jared maples, director of the department of Homeland Security preparedness and soon by chief council, matt plotkin. Lets begin with our daily update on the numbers and charts. May these never be just numbers and charts. These are real lives were talking about. First, today, we are announcing an additional 347 positive test results, pushing ur state total to 102,196. My monitor is out. If someone could get it plugged in, that would be great. Even as we cross 100,000, we must keep in mind there are tens of thou
Billion for testing labs for the virus. The president urged both parties to pass this legislation. The president tweeted this. I urge the senate and the house to pass the Paycheck Protection Program and healthcare enhancement act with additional funding for the payroll protection, hospitals, testing. After i sign this bill he tweeted well begin discussions on the next legislative initiative with Fiscal Relief to state and local governments for lost revenues from covid19. And much needed infrastructure, tax incentives for restaurants, payroll tax cuts to increase economic growth. After the package does pass the senate it moves to the house where its expected to be voted on and passed by thursday. After that its on to the president s desk where he will definitely sign it. Our first guest has been at the epicenter of all of the discussions to funds that critical Paycheck Protection Program, also demanding Speaker Pelosi establish a plan to reopen congress as they are entering their fourth
Billion for testing labs for the virus. The president urged both parties to pass this legislation. The president tweeted this. I urge the senate and the house to pass the Paycheck Protection Program and healthcare enhancement act with additional funding for the payroll protection, hospitals, testing. After i sign this bill he tweeted well begin discussions on the next legislative initiative with Fiscal Relief to state and local governments for lost revenues from covid19. And much needed infrastructure, tax incentives for restaurants, payroll tax cuts to increase economic growth. After the package does pass the senate it moves to the house where its expected to be voted on and passed by thursday. After that its on to the president s desk where he will definitely sign it. Our first guest has been at the epicenter of all of the discussions to funds that critical Paycheck Protection Program, also demanding Speaker Pelosi establish a plan to reopen congress as they are entering their fourth