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Stephen mnuchin speaking on the phone today regarding stimulus negotiations with a promise to speak again tomorrow and new york city is back in had the coronavirus spotlight. People refuse to wear a mask still to come, coming up on todays show, embattled e. V. Maker nick la with new lows. Well ask the former auto executive what it all means for nikolas pending deal with gm. Plus, well speak with the newly minted president of shopify about the run that stock has been on. Up more than 150 . Well ask about the recent news of rogue employees stealing some Customer Data. Harl Harley Finkelstein will be our guest. We have the latest headlines coming out of washington, d. C. For us start with you, mike a little bit of low volume churning going on today. Maybe a little apprehensive. Kind of Holding Steady ahead of these coupl ....
The dollar gaining some ground after paring losses after that meeting. Fx sellinging asia off, especially the renminbi after reaching may 2019 highs. There are signs perhaps the currency is being overbought. Expecting boj, boe, and Bank Indonesia today. Those currencies and focus. Watching the bond market as well put it did not get adjustments on qe from the fed. We saw the 10 and 30 yield spike coming off a little now but that did lead to earlier the yield curve steepening and coming off a little. We are watching brent crude as well as wti. Also saw off some of the highs we saw overnight. There is optimism for demand but that is also losing some of those gains right now. Tom lets get you up to speed with some of the first word News Headlines and other stories. President trump says a Coronavirus Vaccine could be jus ....
Fears. And companies from roku to Western Digital have been tempering expectations thats hurt sentiment a bit. Gold is at a record high nasdaq set for another record close, comfortably now up a full 1 . Continuing that breathtaking rally, coming up on todays show, the bet on pets. The ceo of the company that makes medicine for pets and l e livestock. And more earnings rolling in today after the bell, including uber, dropbox and t mobile also a first on cnbc interview with mike seifeieve seavert eamon javers has the latest on the stimulus stand offin washington, and phil lebeau is watching the airlines. Start us off with the broader market, mike. Today is a good example of how we are now in a market moment where the threshold for rallies on news is much lower than the threshold for a sell out. Nertsd, the market takes most good news and kind of shrugs off the less good news we got the better than expected but still kind of ugly jo ....
Week. But here in california, we have filed a more than 7 million claims for unemployment that happened since the pandemic began and paid out just last week alone 3. 7 billion in Unemployment Benefits and thats more than 3 billion more than the worst week of the last great recession. So as you can see, there is a massive demand for this type of until assistance. So is the volume that you are getting, you are having the process going down at all . You know, the volume continues to be quite high. We are still getting a couple hundred,000 claims each week. However, what we are able to to do is we are now able to expand our capacity. As you know when this hit, it was like an overnight perfect storm. Right. So it was hitting at a time of record low up employment. We have low staffing, low funding. Now we have more funding. We are in a mass expedited hiring effort, where we have hired or at least extended considerable job offers ....
First of all, update you on our hiring effort. You know, we were at record low unemployment in february, so we had low staff and low federal funding. Fast forward now, this historic demand for benefits and we are getting more increased federal funding, so we are now in the process of hiring 4,800 new staff to come help us with the unemployment and insurance demand that we are dealing with. Were doing that in an expedited fashion. Theres a great web page to give you the information about those positions that were filling, all aimed at trying to help us increase capacity as much as possible to deal with this historic load. Are you seeing any differences in the past week in terms of the claiming coming in as california starts to reopen and peopl are startg to go ckwo . Are you impact on your end yet . Well, we continue to see hundreds of thousands of new claims each week and well have some new numbers out again tomorrow as we do every thursday. And we have paid, the last week, more than 2 ....