The dow now positive for the year as the s p and the nasdaq close in on alltime highs yet again. Is a deal to buy tiktok hours away . As we reported here first, microsoft ceo speeding fastest toward the social media prize. Now its confirmed walmart has bet on microsofts horse to nudge it across the finish line. The analyst who says a deal has been sealed and is down to the wire in a fox business exclusive. Dan ives of wedbush, only here coming up. Hurricane laura leaves destruction in her wake as the energy world scrambles at this hour to restore power and get natural gas and Oil Operations back online. We are going to take you straight to lake charles, louisiana, where the eye went right over for a look at the ontheground damage. And the boycotts spreading at this hour from sport to sport as americas top athletes protest racial injustice. The ceo of the Company Whose name is on the bucks home arena is with us live on hoops, protests and what big business can do and what hes doing to f
Do you think its important that congress extend the relief of extra Unemployment Benefits . I think we try to keep our comments on fiscal policy at a high level. Ill come to your specific question but i would just say this. This is the biggest economic shock in the u. S. And in the world, really, in living memory. We went from the lowest level of unemployment in 50 years to the highest level in close to 90 years and we did it in two months. Extraordinary. And appropriately, the response from fiscal authorities has been large, forceful and very quick by the standards of these things. Roughly 3 trillion congress has authorized and thats benefiting households, laid off workers, small, medium and large businesses, hospitals, state and local governments. 14 of gdp, its in a class by itself in terms of both the size and speed of it. Its also pretty innovative. Both the ppp and the Unemployment Insurance are quite innovative in the american context. There were difficulties in implementing the
They are outside allentown, pennsylvania. We will keep our eyes and ears on it in case any news breaks. In the meantime, as the president visits the keystone state, elsewhere, other states are taking more and more steps to get business back to normal. You have been hearing about it all day. But they cant do it without data. Where are the covid outbreaks so they can douse them as quickly as possible. Weve got a fox business exclusive with the Company Already helping governors around the nation set up digital cloud command centers. By the way, the stock is up 101 since april. You will meet the ceo. We will give you the name of the company. And the stayathome orders giving doityourselfers a reason to exist. While husbands and wives around the nation roll their eyes, trex is a clear coronavirus winner in the Home Improvement craze. The deck material maker ceo is here on what everyone is rushing to buy. Plus, we are live at the cdc as it grapples with covids new and terrifying symptoms show
Im hopeful we will very much try to learn as much as possible from that facility and from all the other ones. We have a lot to learn here. We will certainly be trying to do that. In terms of fiscal concerns, for many years, i have been before the fed, i have long time been an advocate for the need for the United States to return to a sustainable path from a fiscal perspective at the federal level. We have not been on such a path for some time which just means the debt is growing faster than the economy. This is not the time to act liz well, you know what, it was going along really, really well and it was making history. That was of course chairman Jerome Powell of the Federal Reserve. This is the very first time we have ever had i guess its considered a zoom Federal Reserve meeting and reporters, of course, were standing by. You saw the chiclet screen there. Here we are. We got it back. Lets dip right back in. But to let that get in the way of us winning this battle really. Edward lawr
Tenyear yield has fallen below 1 . It dropped to a record low of just. 9 . Right now its barely above that at. 98 . Stocks made a brief attempt at rallying but then completely tumbled. The central bank said it was making a preemptive strike to stop the coronavirus contagion from affecting the american economy. The dow started swinging all over the place. More than 1300 points from a high of up 381 points to a low of a loss of 996. As you see, we are down 642 points. The s p is down 71. Of course, the nasdaq, triple digits, down 234. It all comes as President Trump right now is at live picture, right now at a roundtable at the National Institutes of health where he is meeting with all kinds of Health Vaccine experts at the research center. Hes going to then take a tour. Lets listen in. Hes taking q a. If it was necessary, i would do it. Yes. Reporter whats your timeline on further travel restrictions, mr. President . Well, we are looking at different areas and we will make that decision