They have agreed to a loan of 5. 5 billion from the Treasury Department you may remember they initially had an agreement on 4. 7 billion to be borrowed they have up sized it to 5. 5 billion. They have to take a draw of at least 10 . Theyve drawn down 550 million today. What does the Treasury Department get for this . 10 of American Airlines if american borrows about 9 billion, the Treasury Department will get americ 900 million if youre keeping score, american is now sitting on more than 42 billion in debt the stocking is moving higher in the after hours session it remains to be seen if they will need to borrow but the fact that they have said we may need to borrow another 2 billion in addition to that 5. 5 billion, its clear they realize theyre in for a rough six months here you will not see a big increase in passengers. That means its going to be tougher to get back to break even. A crazy low price target on this, it was 1 or 2 price target on american it is known as the weakest Bala
We will speak to the ceo in a moment. Stocks up, halting the rally. The market may have gotten ahead of itself considering we are in the midst of a health, economic, and social crisis. We are now officially in a recession here in the United States. What drove the stall in the market today . It is easy to see why the market would want to take a little buffet either. Little of a either. Yesterday0 as of turning positive for the year despite the fact that the earnings outlook is not looking great. The data is better, but still pretty pat of all things considered. You can see why investors may want to take a pause here and assess the picture and see whether it is time to be adding risk. The nasdaq actually did close in the green today. The nasdaq 100 actually did briefly top the 10,000 level. The Community Services index, those growth sectors were able to eke out gains today as well. The dollar, would have been its ninth day in a row down. It suggests that it was not an altright risk off d
And here are your top headlines. Angela merkel and president Emmanuel Macron back a 500 billion Euro Recovery Fund for the European Union. The deal needs the support of all 27 eu members, but the two countries of the biggest payers. President trump called the World Health Organization a puppet of china and promise to pull u. S. Funding. Stocks and futures shake off tensions and push higher. After eights potential vaccine for coronavirus. It is raising 1. 3 billion to fund the development. Just under one hour from the start of cash equity trading in europe. We kick off this program with a relatively dire number, european car sales are down 78 in april as demand evaporates. You expect that if you cannot leave the house. Stock futures are barely higher now. Just above unchanged. Dax and ftse futures up about 0. 1 . We have breaking news from the u. K. In terms of the regime that will apply from january 1. Earlier this place year, but we are in this transition phase until the end of decemb
Gone red as weve gotten more guidance on Net Interest Income on the conference calls. Yeah. Absolutely the banks are in focus as this first day of earning season in earnest really kicks off one of the names im actually focused on that reported this morning is fastenal, distributors, thats what they make and they provide those distributors to quite a variety of industrial excuse me industries and end markets, early indicator of the state of the industrial economy, youre seeing those shares pop today in part because at a time where so Many Companies are cutting their dividends they actually raised their dividend and they noted that theyre seeing product produced significant shifts in business mix and that march sales of the fastener products declined 10 on a daily basis as industrial activity slowed but their safety business grew 31 as they were sourcing and delivering critical ppe supplies to the marketplace why do i bring this up this is essentially what were seeing and i have a feelin
This hearing will come to order. Good morning. Today, we will discuss with the technology is doing to remove violent and extremist tenth from their platform. This is a matter of serious important to the safety and wellbeing of our nations communities. I hope we can engage in a collaborative discussion about what more can be done within the jurisdiction of this committee to keep our communities safe from those wishing to do us harm. Today, we representative on the Worlds Largest social Media Companies and Online Platforms, we hear from this Monika Bickert, head of the Global Policy management for facebook, and mr. Nick pickles, policy director of twitter. Mr. Derek slater, Global Policy director, and Senior Vice President of program for the anti defamation league. Over the past two decades, the United States has led the world in the development of social media and other services to allow people to sites like google, facebook, and twitter, and platforms like instagram and twitter have ch