Hold a Shareholder Meeting later this week. The British Government considering a contribute the hardest hit part of the economy. This as Boris Johnson prepares to unveil the next phase of easing it may include the social distancing rule. Good morning and welcome to the program. This is the latest as we have shares plunging. They were down more into the start of the session 1. 9 billion euros missing from its accounts may not have existed in the first place the company says that there is a likelihood that the cash that amounts to around a quarter of the Group Balance sheet was never there after the hunt for the missing amount hit a dead end in the philippines over the weekend. It is the preliminary year 2019 and First Quarter 2020 results and forecasts due to the schedule the german finance minister said the supervising institutions have been hard on the card he stepped down on friday. Reaching the philippines and the central bank there says that effectively they are denying that there
Theyre all moving lower put on the positive side, a report that china will accelerate agriculture purchases from the u. S. Which could deescalate some trade tensions and were set for a particularly volatile final hour of trade this is the s p 500s first major options and futures rebalancing day of the year. We have 59 minutes left. Were down just over. 5 sara coming up on todays show, pressure mounting on apple over the treatment of App Developers weeshgs going to speak with Roger Mcnamee ahead of the Developers Conference plus, david kenny holds not only the companys ceo title but also the chief diversity officer. Hell discuss neilsens recognition of juneteenth and how they can push for more diversity in the workforce and can figure out a way to measure it as well lets get straight to the market another volatile session to close out the week on wall street one that is headed for another upweek mike santoli is tracking the down action weve seen this afternoon. Yeah. A little fatigue th
How oil fits into the microeconomics of this great contraction. It is remarkable, francine, to see how the markets churn yesterday after you and i were justen we saw the fed simply come to the rescue. There is no other way to put it. Francine and the markets keep saying dont fight the fed. That was a Good Opportunity for market participants. Expecting a 60 figure, better than expected. Bloomberg first word news in new york city. Here is ritika gupta. Ritika good morning. President trump is weighing an infrastructure proposal worth nearly a trillion dollars to spur the u. S. Economy, according to bloomberg sources. The plan would reserve most of the cash for traditional work such as roads and bridges, what funds would also go to 5g wireless and broadband. Existing funding is up for renewal at the end of september. It is one of the largest of occasions north korea has made to south korea in years. Grownnguns regime has that blown up an entry Korean Liaison Office on the side of its borde
Positive impact on very sicko individual patients. And of course, jim, we had the announcement today that the fed will begin buying individual Corporate Bonds, not just the etfs that hold those bonds but the actual bonds themselves. That certainly helped. Whats your take this morning . Well, look, i think each one of these can be debunked took this drug for two months. It was okay. I switched to prednisone suddenly we discovered this was a big breakthrough what were the doctors doing . Did all of the doctors get it wrong . Did they realize it was not swelling around the body and just focused on the lungs. Its like, okay, idiots honestly, i love the doctors, theyre great. But come on, how did they miss this and look, david, the gunners all want the stocks to go higher, right . And the fed is buying bonds that we would normally i mean, maybe the fed buys hertz bonds and takes them up to the point where maybe hertz is good. I dont know, david. Theres a lot of people saying talk pony. The
3. 5 . The s p, a similar gain, about 2. 5 there. And the nasdaq composite up just with over 2 . That is clearly a rally. Helped by the Federal Reserves bond purchases, thats money printing, a report from bloomberg on a possible trillion dollar plan for bridges, roads and 5g access in rural areas, thats the stimulus plan, a new one. Also helping, really helping, news from an Oxford University study, a breakthrough in the treatment of the virus using steroids. It significantly reduced mortality. We also have the rapid opening up of businesses all across the country and maybe an improvement in u. S. china relations. Mike pompeo meets senior chinese officials in hawaii tomorrow. And then theres this retail sales in may up 17. 7 . That reflects the partial reopening of some stores. It is a very strong number. The president just tweeted about it. Ill read it for you. Wow, may retail sales show the biggest one month increase of all time, up 17. 7 . Far bigger than projected. Looks like a big