It brings unemployment claims down to 22 million in the past four weeks and that essentially wipes out all the jobs created sin the financial crisis we know the dapta was going to be bad and will continue to be bad because this is reflecting periods that arent april, and we know april will be even worse. Right these are daunting historic we look at them, we must think about what was happening, say, in 1930, 1931. We realize that the system may hold, may not hold i think were in a stronger position than then because they didnt have a social safety net, but these kinds of layoffs, theyre extraordinary. And we are at a loss for words for them obviously, all these people are now in some way or another getting compensated this week. But i think its not enough, and i keep thinking that the longer we dont have and its not opening or closing america the longer we dont have faith in being with each other, youre going to have to keep seeing these numbers. I have to tell you, i was hoping i never
Treasury, the efforts to stimulate an economy in free fall jim, you got off a call or an interview it was a call as well with secretary mnuchin what stood out to you . That you shouldnt lay people off. I want to point out i got a correction, he said on Small Business payroll, two weeks, he meant two months two months means you do not lay people off without, i think im not saying its irresponsible but everything is being done to keep businesses open Small Businesses open. David, with the fed, i think theyve taken off to me anything involving credit the secretary talked about anything involving liquidity we cant produce demand. You keep people around for two months, but they wont be able to produce demand. There will still be a burden on Small Business not sure how that will be resolved thats an interesting point jim, we did we were watching the futures, which appeared to be limited down at different points in it the evening last night after japan opened as well then we got a fed announc
Days well see what the last second to last trading day of the year has in store for us road map today starts with the recordbreaking year for stocks. The s p within striking distance of its best yearly gain since 97. Plus, teslas china play, the automaker ruling out first sedan from the shanghai factory with ramping up next month. We begin with the year end rally and the record run for stocks mike, it has been quite a year and we go into 2020 seemingly with a lot of momentum. Been a very, you know, kind of orderly low drama rally in december a lot of folks say we may be set up for a pullback. I think we keep having to remind people, it has been a great year, successive record highs for much of the year we started in a deep hole. I think thats important not to sort of downplay what a Strong Performance stocks have had had this year, but to point out theyre not necessarily all that far out on a limb because theyre up 30 of the 12month basis because theyre up about 11 from 15 months ago,
Trim apple and sold off paramount at a loss. Speaking of paramount, the company is, or its special committee is opening up negotiations with sony and apollo. Theyre also talking with skydance as well about their bid for the overall company. From here at the Milken Institute global conference in los angeles, the next two hours, were going to be joined by marc rowan, David Solomon, and darren woods. So, nice lineup ahead, guys. Lets begin, david, with buffett and apple after that stocks friday rally. Berkshire says it did trim its stake by about 13 to just over 135 billion in q1. Didnt stop buffett from praising apple at the meeting over the weekend. Take a listen. At the end of the year, i would think it extremely likely that apple is the largest common Stock Holding we have now. When we look at cocacola and American Express and apple, we look at them as businesses. Now, theres differences in tax factors, managerial responsibilities, all sorts of things, but in terms of pulling your mon
Of falsifying records, Money Laundering and other charges. Fattahs son sheriff jr. Is also mentioned in the indictment, a young man embroiled in his own legal troubles they say that the congressman used Campaign Funds to pay his sons college loan debt. In 2010 and 2011, he used the funds to make loan payments totalling approximately 23,000. Fattahs attorney released a statement that reads in part, for some time he was aware of the allegations and its his intent to plead not guilty and serve his constituency as he has done for years. One they engaged in a coverup, lasting years to avoid detention. And just moments ago, the democratic congressman released a statement on his own behalf. As i have previously stated, i have never participated in any illegal activist as an elected officials for the last 21 years i have represented the people of philadelphia in congress with honor and dignity, helping millions of families. He tells reporters on capitol hill he is innocent and will not step do