On administration who have been wavering support for farmers today. Secretary of agriculture selling purdue and senior advisor, announced the launch of the farmers to families to adopt program, 3 billion program just for farmers and to provide your most vulnerable communities. Theyre doing very good good work. Now i want to focus on the Coronavirus Response. Some have erroneously suggested that the trump in ministration throughout the administration. But the critics failed to note his it has been on paper, with replaced by two detailed robust pandemic responses reports commissioned by the Trump Administration so we change this one which i will and over to my assistant for these two pandemic spots plans. In 2018 the Trump Administration and action plan, one of the binders that i just handed to lindy, for the from august 13th, to the 16th of the Trump Administration connected that contagion 2019 functional exercise. This was a pandemic assimilation to test the nations ability to respond
With the hopes of going ahead. The Federal Reserve move made a turnaround. That led to selloff yesterday. Dow industrials down 582 points, nasdaq down 18 and s p lower by 67. Reports that u. S. Airlines are looking into voluntary shut down of passenger flights across the country this morning. We will take about it. Ceo of boeing David Calhoun joined me later this morning on asking for bailout, suspending dividend and foregoing his own pay and shuts down. Im going to have a report for you jpmorgan says theres a trillion dollars wait to go flow waiting to flow into stocks. President Boris Johnson putting people in lockdown and banning meetings of more than 2 people. Take a look at asian markets here. South korea doubling coronavirus package. Kospi index off 8 and a half percent overnight. More bad news on the chinese economy to report. Latest survey from china warning economy could shrink to 10 to 11 . Thats just the First Quarter for china. Take a look at 10year treasury rise and settin
And we need both diagnostic testing and antibody testing. We need millions and millions of them and we need them in a matter of weeks, not months. We have to be more prepared as a nation paid we should never go through this scramble that we went through with competing against other states by masks from china. We should never have been here in the first place, but certainly we should never be here again. Lets makelets make sure we ste waters ahead and proceed with caution before we set off on the next journey. Study the data and lets look at what has happened around the world and make sure the best health minds in the country are giving us their best advice. How do we go forward . We stay new york tough. It means disciplined, unified, loving, and it means smart. Now is the time to be smart. Now more than ever. That is what it means to be new york tough. We are. Questions. Potential and how long they stay up and running . Should have stayed with it, bernadette. You had it for a second. I
The economy, pretty much at a dead stop until may, maybe longer. The market is looking to the other side of the virus problem and surely welcomes more financial help. However, stocks are ending the worst month since 2008 and the dow will open lower this morning, off maybe 140 points. Similar story for the s p and for the nasdaq. A down opening bell today. The price of oil, well, that remains at depression levels. This morning we are in the low 20 per barrel and the average price of gasoline, you got to look at this, the National Average gas price has dropped below 2 a gallon. 1. 99, thats your number this morning. The price is dropping about two cents a day but so what . Demand has cratered, the roads are empty, and few people are taking advantage of dirtcheap gas. Now, this caused a stir yesterday. The u. S. Navy hospital ship arrived in new york and was greeted by crowds of onlookers. They were breaking social distancing rules. Those people who were holed up in their apartments and h
Activity as Economic Activity grinds to a halt here in the u. S. , the white house calling for half a trillion dollars in direct payments to taxpayers and says we could see bailouts for airlines, hotels, and cruise industries, all the sectors getting crushed in todays market and crude oil down a staggering 23 . Now trading just above 20 a barrel we have every angle covered for you. Bob pisani is on the floor of the New York Stock Exchange. Kayla is in washington with the response to lawmakers. And were covering the latest on the virus itself bob, first to you on another roller coaster ride today here at the Stock Exchange. We have a quiet morning i say relatively quiet, it was down 6 tach take a look at the s p i urge you to watch it emotionally. He said we need a 30spring break. This slow rollout of a shutdown is not working market dropped quickly to the lows of the day. We hit the Circuit Breaker at 12 50 eastern time, 15minute pause. We reopened. We have not dropped to the he second