Chart for the markets. Obviously we would start there, thats what dan nathan is calling this stock so dan, why dont you walk us through what this is and why its so important to investors lets talk about jm porgen. This is a best of breed bankheading into the crisis. The stock was trading at an all time high. There were a lot of investors out there in january signaling this is a chart representative of the economy that were in, prepandemic, i just have to tell you, this thing has acted pretty horrible on the way down, its down 35 on the year, and that is relative to the s p 500, down less than 10 on the year. The balance off the lows in march was fairly anemic relative to the s p 500 whats important is that investors seem to be focused on the stocks that got us here prepandemic. We know that it was the maga, the microsoft, apple, google and amazon its the bank stocks that are important to look at here. They touch parts of the economy that are going to struggle over the next few quarters
The governor says that under phase two lower risk businesses can reopen for curb side pick up. That includes places like clothing stores, book stores, florists and retail stores. This is an optimistic day as we see a little bit of ray of sunshine. State Officials Say it is still too soon for dine in restaurants, offices and shopping malls to reopen. More specific guidelines are expected on thursday. The return of retail will mean major modifications for businesses that can restart. New at 10 tonight, amber le, with a different way theyll be doing things. Amber. Reporter both tell me they have a Business Plan that will change how they operate. Reporter kevin ryan tell me hes hopeful about the possibility that the city will allow for small pick up on friday for his store green apple books in San Francisco richmond district. Were ready to go. We have been thinking about this for a while. Reporter ryan says the store is large enough. Hes brining back his employees with social distancing. M
Reporter this White House Press conference will now be at 5 30 p. M. Where we expect the discussion to revolve around Testing Capacity so more americans can get tested and go back to work the white house is expects to release two documents this evening. One is a chronicle of actions taken to date so far to ramp up the capacity of testing in this country. The second is essentially a blueprint for states for how they can get access to more tests, and what resources the federal government has that are available to them. The president hosted many leaders from retail and Farming Companies to talk about how to leverage the Retail Industry heres what some of these Companies Said they were willing to do. Cbs and lab corp. Are expected to provide 1,000 locations with the capacity to run 1. 5 million tests a month according to some of the promises that were released today walmart is expected to open a total of 100 sites, they say they will be able to test 20,000 a week target has provided some p
Manufacturing, down 1. 3 million. Overall, whats striking is how fast we descended into a depressionlike situation and of course, we want to know how fast we are going to recover. White house economist larry kudlow will join us in just a few minutes. Is this as bad as it gets and whats the timetable for returning to growth . We will ask him. Before the news came out, the dow futures showed a gain of about 250 points. The moment we saw the numbers, dow futures were pretty much the same. We have now moved up a bit more. We are looking at a gain of 284 points but remember, these numbers were expected. They were already baked into stock prices. Stocks are up because investors are looking to the future, where the economys in recovery mode, and theyre looking at, what, 7 trillion worth of stimulus. That always goes down well on wall street. As we said, the dow up 280. The s p up 33. The nasdaq up 87. Lot of green despite the terrible numbers. Obviously, this is a big day for your money. Its
They meet the criteria. On the other hand he is not forcing counties to comply with the modifications if they have stricter guidelines. Using the bay area for an example. If they choose not to come into compliance with the state guidelines. They have the right. This is an optimistic day as we see a little ray of sunshine on the horizon. Today, San Francisco mayor said any decision made in regards to reopening the economy has to be done responsibly. She doesnt want the city to move backward if any restrictions are eased or lifted. Thank you. Here are the latest numbers from california. The state now has close to 55,000 cases of coronavirus. Unfortunately, there he nine people died yesterday. That brings the total number of deaths statewide to over 2200. Of the number of people in intensive care units is up slightly from yesterday. So far more than 747,000 california sieve tested for the virus. California has an overall population of 39 million people. State officials repaired to enter s