Friday coming off the exhaustion of all of that central bank news, the analysis of the markets, the big tech earnings. I would focus on this may day, on the persistent theme, the dawning awareness about a seriousness a pandemic continues to be. One lighter note, there is a beach war in america. The governor of california is shutting down the beaches while alabama and texas are talking about opening the beaches. That is the distraction in a very difficult virus statistics. Howcine it is interesting in the u. S. It differs from state to state. With the bloomberg first word news in new york city is Viviana Hurtado. Viviana we begin with u. S. Federal reserve expanding the scope of its main Street Lending program. Now businesses with up to 15,000 employees will be eligible, so will those with up to 5 billion in revenue. The central bank is expanding its paycheck protection facility. This after the initial round of funding was spent in under two weeks. European central bank looking to ease
If you live in eastern or central time zones, 202 7488000 is the number to call. Dish in thein any mountain or pacific time zones, 202 7488001. The recent column appeared in yesterdays wall street journal. The era of Big Government is back is the title. To show you some of what they wrote. Conversations with a broad crosssection of political figures suggest there is little reason to expect a return of the status quo on federal spending, or the prevailing attitude toward the proper role of government. The era of Ronald Reagan is over a democratmanuel, who served as the mayor of chicago and president obamas first chief of staff. An echo came from the other. Ide, from Stephen Bannon it is not relevant. That is some of the thoughts from yesterday from gerald cy vance john mccormick. This when itte comes to mr. Trump. Saying, long before when this crisis struck, trump had been moving the party away from its embrace of traditional conservative precepts. The Trump Administration declared that
Than to postpone or move them. The modern olympics, which dates to 1896, have been canceled only during wartime. The driver of a tesla suv killed in a crash two years ago was playing a videogame on his own at the time. That is according to the National Transportation safety board. At a hearing today, the ntsb chairman said partially automated driving systems like teslas autopilot cannot drive themselves. Says, drivers continue to use them without paying attention. The family of the engineer is suing tesla. He died in the crash when the vehicle swerved and slammed into a concrete barrier. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Shery shery live from bloomberd headquarters in new york, im shery ahn. Amanda live in toronto, im amanda lang. Shery here are the top stories we are following from around the world. No rest for the markets. Stocks coming off of
Cut this month thanks. We are seeing a big bounce back. All angles are covered for you bob pisani, Rick Santelli in chicago seeing new lows on the ten year yield, meg has the latest on the coronavirus and Steve Liesman on whether the fed will come to the markets rescue here we begin with stocks and bob with the latest here kelly, were just off the highs. The question is, why theres two essential reasons. Number one, we have extreme oversold conditions. Well explain that in a minute and number two, we have hope for fiscal stimulus and coordinated monetary stimulus and theres indications those are coming together as well there you got your rally take a look when we say extreme oversold conditions. It shows you mouch much the market momentum is moouing below 30, thats oversold. You very rarely see this its screaming buy in a traditional way to look at the markets. Another extreme indicator, you have nyse, the volatility index. We were at 49. Thats almost four standard deviations away. We
When it comes to the fans of the humans and see the white 2 fools who have decided to put their trust in us. My name is jim paris and i work with. Tesla gets the green light of course as the electric car maker can continue clearing trees from the sides of its pond gigafactory in the lead. Also along all day on wall street a 13000000000. 00 buyout by Morgan Stanley is the biggest by u. S. Bank since the Global Financial crisis. And careful its hoped childrens downsizing the recession isnt during customers the swing of the. Wrist. The way of business im rob was in berlin welcome a lot. That has been given the go ahead of course in germany has brought that forest clearing for the car makers new factory can resume environmentalists have blocked the work in court saying the public has not been properly consulted they get a factory site is located just outside of berlin and will be tested 1st in europe election is set to begin in 2021 and several start ups in the area already awaiting the fi