Lots of guests coming up mel Mellody Hobson will join us. Well ask if todays the start of a downturn or a buying opportunity. The ceo of icelandbased Decode Genetics will join us. What the company has learned about how the virus spreads. Its an interesting study. Lets focus in on the big stories we are watching in this final hour of trade. Bob pisani tracking todays selloff Courtney Reagan with plunging retail Sales Numbers and wilford. Bob, a little recovery weve seen lets take a look at the s p and call this one cuomo versus the horrible Economic Data because the markets once again, cuomo moves markets. 12 30, started talking about lower hospitalization rates, the market lifted at that time continuing to lift but cant compete against those horrible Economic Data sara was talking about. The energy, the banks, the small caps, the industri industrials, Economic News, they suffer the Energy Stocks getting pounded, even down double digits, some recovering off the lows like apache and hess
White house briefing. We will be monitoring that for any headlines as they come. Shares of the biggest banks, citigroup and bank of america, plunging today after disappointing Earnings Results revealing just how hard the pandemic is hitting them. Goldman shares ended the day up. Their portfolio took a big hit. Joining us now, sonali. Walk us through these big loan losses and why did banks do so poorly today . Sonali these loan losses are the number one reason we are seeing issues at the big banks. This might get worse in the coming quarter. Let uncertainty as what is making investors nervous. When you go to bank of america, they expect they are considering what a recession would look like into 2021. You are drawing out time frames that go well past a couple months that people expect the economy to be closed for. The banks are factoring in the reality that the American Consumer will not be able to spend as much and that there will be bad loans as people are not able to pay back all of t
When you were a little kid. You saw a rocket go off and said i want to do that. Is it that simple or that complex . I was interested in rockets in astronomy long before people get spell rocket. I was interested in it way back in high school. I went to try to build some rockets. I wanted to become a rocket engineer, as a matter of fact. Worked at the rocket society. I wanted to become a rocket engineer but essentially they said you have to go to mit or to caltech. I cannot afford either. So i took a secondary goal. I got an rotc appointment to wisconsin. From there i went to the Naval Academy. I got to the flight training. I became a naval air aviator. In 1958, nasa was formed and they were looking for astronauts. I was one of the original 110 people who were selected. Let me go back to the Naval Academy . That is right. This was right after world war ii. I got down to preflight. My mother, when i was at the university of wisconsin, told me to apply to the Naval Academy. 7z3 vi did it,
Are signs the u. S. Outbreak is beginning to level off. Global stocks climb as the daily death toll declines in some epicenters. The virus takes its toll on the u. K. Forest johnson was taken to hospital for tests after 10 days of suffering with the coronavirus. The queen makes a rare address to comfort the public. The worldsk to biggest food company. Our interview with the nestle ceo and around 10 minutes time. Welcome to bloomberg surveillance. Im nejra cehic in london. We are seeing optimism. The stoxx 600 showing green on the screen. U. S. Futures, all higher by at least 4 . The 10 year yield had its lowest weekly close ever last week. Bank of america says we are poised to retest the record low with the 10 year yield moving higher, above a 60 handle in todays session. The dollar, giving up some gains, but it was on a fourday gain. The exception of the yen. Recovering after the weakness in the Asian Session and oil, weaker as we look ahead to this potential meeting on thursday betwe
Oversight of the department of Energy Research and development enterprise. Welcome, mr. Secretary. Were delighted youre here today. This committee has jurisdiction over the department of energys vitally important science and Energy Research and development activities. The laboratories and facilities so i hope we see you much more frequently from now on, and i look forward to working with you throughout this congress. With the budget season mostly behind us, id like to bring just a few minutes and a few items to your attention. Ill start with the good news which is that despite the administrations best effort to make draconian cuts across the board to deo research and Development Programs, most actually fared well in the house of representatives. Im particularly pleased to see the increases to the budget for arpae and the long Programs Office both of which have yielded truly transformative results for Energy Technologies of all types. Im also quite happy that the house supported a subst