Other several times where the airline suffered shocks the one most clearly was 911 and up to 911 happened it took approximately 3 to 4 years before demand and capacity and people felt safe to travel again so it is going to take some time and then afterwards subsequently you have the sars virus as i mean isolated within asia but even so the Airline Industry there also reported that it took about 5 additional years for people to feel safe traveling in a confined space together and this not only applies to airlines its also applies to cruise ships trains and all of those commuting across the United States its going to be its going to really suffer as a result of this. Yeah i have read the Southwest Airlines is offering their employees with 10 years of service a year of pay and flight privileges for a year if they take an early retirement package theyre limiting the number of seats per flight so that middle seat wont be occupied but with fewer employees and fewer seats and fewer flights it
Number for the company. Quarterly sales were down 43 year on year. The stock is pretty much flat, though. The bad news now, just how bad would let actually be . Sales roseommerce about 74 . They still need people to come into the store to really make a lot of money. Their comp sales were up by over 10 , if you backout fuel. Clearly a lot of stocking up. Clearly good for walmart. Kohls suspended its Share Buyback program. That stock now off by about 1 in the premarket. Overall, no doubt we are obviously going to take a bit of a pause as we digest earnings and that monster rally. The question is whether the new was that or a bear market rally. Is that really being reflected in equities . We need the Economic Data to really match. Lets get to the news from overseas, as well as here in the u. S. We want to start with the walmart numbers and look ahead to fit your jay powell. Michael mckee has more. Just in case we werent sure that people were hoarding toilet paper, we get walmart. Michael
Other sectors stepping it up. David that is what i am interested in this week is the u. S. Treasury issuance. We will have to borrow a lot more money. What you think that will do to the treasury market . Abigail today does not having much of an effect. Last week there was a big selloff. On the corporate side, there has also been a ton of issuance. It seems as if the markets are absorbing that supply. Lets see whether that continues. Certainly helping today, one sector that is doing quite well, the Health Care Sector outperforming, especially biotech. Cardinal health put up a good quarter, that has to do with druggist to big drug distributor, the fact they saw their sales boosted by covid19. Weve been talking about the gilead virus drug. It is a pitch scratcher it is a headed scratcher on that one. It lessens the time. It is not a game changer for the economy. A little bit of a popping. We will certainly be watching that debt issuance. That could help to break the tugofwar weve been see
Washingtons effort to address job losses amid the coronavirus pandemic. Is next. N journal one month ago today, President Trump declared a National Emergency over the coronavirus pandemic. With wyoming over the weekend, all 50 states have been declared Disaster Response areas. Good morning, its monday, april 13, 2020. This first hour we will ask about your thoughts on the federal response to the coronavirus pandemic so far and how your state governor is handling the crisis. We will look at joe bidens just published plan to reopen america. Heres how to be a part of the discussion this morning. In the eastern and central time zones, but linus 202 7488000. Mountain and pacific, that line is 202 7488001. We welcome medical professionals, to hear from you. That live is 202 7488002 that line is. Is 202 7488002 you can text us at 202 7488003. We have facebook posts ready, we will show you those. As we begin the program yesterday, the New York Times had published a lengthy story on the lead up
Government is proactively telling people not to go to work , we cant give people the incentives and the aligned job skills to try to reenter the workforce. That would happen in a later phase. Right now, we are just trying to help families and households make ends meet so there is not as much financial suffering in the economy. We need to think about this into different phases. Right now we are in the relief phase and then we will start opening things up and what kinds of incentives will be needed to get the workforce back to its formal self. Phase, whats relief is your sense and how much bigger the number can go in terms of the jobless numbers . Guest the real answer will depend on how long the Public Health crisis is drawn out. If we dont go back to work on a broad basis for several more months, it is clear there will need to be an additional large package. I dont know if it will be the same as the prior one, but we have seen the Small Business loan Program Helping Small Businesses ke