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We do know some options that they have. Well explore that a little bit later. Meantime, i was telling you about a lot of depressing economic news. Latest home sales are expected to fall at least 15 this year. That adds to a string of stunningly weak numbers. I say stunningly weak. Wall street was bracing for some bad numbers but to connell mcshane, i dont think they were bracing for this bad. To you, my friend. Connell i think that is the point, neil. In many ways to your point what we learned on both the economic front and when it comes to earnings is soar of confirmation what we already knew. That this economy, thanks to the coronavirus inspired shutdowns is in very rough shape. But when you look at things like retail sales and drop we saw there, this, is even worse than we thought. I mean the largest drop that weve ever seen in retail sales on a monthly basis. So thats march. Economists know april is likely as bad or worse. This comes from the commerce department, only been tracking ....
Says the economy will take off quote, like a rocket ship when it reopens. The questions, though, are when will that be and what will it look like. The market is asking those very same questions as it searches for direction this morning. More green on the screen but again, markets want to know how much economic damage has been done. Meanwhile, moodys says economic output fell a staggering 29 in the first week of april. That is compared to march. That is the first full week of true social distancing rules in place across the country, and that was the result. Down 29 . The other big story of the day, the w. H. O. Is under fire from President Trump. The president saying he may freeze funding to the organization over its response to the pandemic. This is happening as we get more clarity on what may be in a fourth stimulus package. President trump wants 250 billion more for Small Busi ....
Brennan and jon fortt. Markets have been well off the highs. Dow was up 937, trying to hang on to about 400 points on the dow right now. Lets bring in mark mahaney of rbc, david lovevitz of jpmorgan. We knew 2700, 2750 would be a bit of a battleground and its turning out to be exactly that yes, exactly. One of the things thats occurred here over the past couple days really over the course of the past weekend is you finally saw consensus earnings system begin to come down and the narrative that had been in the Market Equities are looking cheap, the question we were always asking was cheap relative to what earnings . When you use the new estimates that are around 145 a share, you know what youre seeing is stocks are looking fairly valued not outright cheap and i think thats a big part of why were seeing things run into resistance at these levels mark, its a great opportunity, davids answer, to ask you how in the world analysts are ....
The scramble to find muchneeded medical equipment. Were talking live to an emergency te house plan extraordinary efforts to bolster the economy, put checks in the hands of tens of millions of americans as the treasury secretary warns unemployment get hit 20 without actions. Battling back. Were hearing so many stories from survivors of the coronavirus. The symptoms, the hidden clues and how they managed to get better, and our very own abc News Reporter who tested positive after reporting on the crisis joining us live from quarantine. And an allstar assist. The heartwarming movement of athletes showing their support in this difficult time. How russell wilson, his wife ciara, and rookie Zion Williamson are providing kindness during the crisis. We do say, good morning, america on this hump day. Many are doing whatever they can. How about zion . 19yearold nba rookie. He has pledge ....
Major funding for the pbs newshour has been provided by before we talk abousyour investmewhats new . Well, audreys expecting. Twins grandparents. We want to put money aside for them, so, change in plans. All rig can adjust. Hat we wed be closer to the twins. Change in plans. Okay. M , are you painting again . You could sell these. Let me guess, change in plans . At fidelity, changing plans is always part of the plan the william and flora hewlett foundation. For more than 50 years, advancing ideas and supporting world. Utions to promote a better at www. Hewlett. Org. And with the ongoing support of these institutions and individuals. This program was made possible by the corporation for public broadcasting. Tr and by cutions to your pbs station from viewers like you. Thank you. Woodruff the World Health Organization is warnnight that the coronavirus is accelerating. More than a fifth of the global population has now been ....