They, in the early days, didnt have the testing capacity. When it came online in meaningful amounts, it increased significantly. I think the big frustration in the u. S. Has been that there is this inability to go out and do widespread Disease Testing and surveillance. David explain that to me. We heard alex azar saying everyone who needs to be tested can be tested. Where are we on that . Weording to secretary azar, are in good shape. Drew that is misleading. All of the testing that is being done is essentially boutique testing, where someone gets a nasal and throat swab, and someone has to basically go and handle this sample. It is a human process. It is not the take a swab, it goes into a machine, and you are running 2000 of these a day, or a rapid strep test that you would get. That is where the real testing volume and surveillance happens right now. Even if there are test kits available, you still need the people available to run them, and that is a major bottleneck. David very hel
And no refunds. Hotels and airlines might be refunding trips, but many airbnb customers may be out of luck. We have the details. We begin with the volatile state of the markets and the Global Economy as the coronavirus outbreak widens. Italy went into a nationwide lockdown, u. S. Virus cases spiked, and the dow the market plunged. The Dow Jones Industrial complex entered a bear market wednesday, the s p tumbling into bear market territory thursday after President Trump took to the airwaves, announcing a ban on travel from europe. Pres. Trump to keep new cases from entering our shores, we will be suspending all travel from europe to the United States for the next 30 days. The new rules will go into effect friday at midnight. Emily in tech, the forecast on how much Companies Like apple, amazon, google, and facebook would lose in a downturn, and uber and lyft shares fell on the reality that customers are sheltering in place. I asked Wedbush Securities dan ives for his take on the volatili
The focus has been on what is happening in washington. It was fascinating to see the fade on equities today. European equities are off session lows. We faded pretty precipitously earlier on. The pound is also off its earlier session highs and has certainly faded the early move. A similar story in brent as well. The initial burst of enthusiasm around that deal starting to ease back a little bit. The real question, this is just dealing with the here and now. Are we going to need further help from washington and other governments around the world to get the bounceback that may some people are looking for . Vonnie just getting a headline now that german lawmakers have approved a 156 billion euro stimulus. A few things happening in europe as well. Back to washington, the white house and senators have finally come together in an effort to bolster the economy. Senate Majority Leader Mitch Mcconnell spoke earlier on the senate floor. Sen. Mcconnell at last, we have a deal. After days of intens
The left column, a lot of those names in the green. Banking names as well. The rest of the region still seeing a lot of pressure. The split is tilted towards more downside. In terms of the sector groups as well, the similar to what we have seen. Youre getting a lot of upside in names like resources, banks, financials are seeing pressure overall. Down for a sixth straight session. 25 from the peak a couple of eci weeks ago. Yvonne back from the slopes. And back in hong kong. Steve, we have been talking about that pivot from President Trump. Painting a dire outlook on this outbreak in the u. S. Why . Wasell, i hope that he looking at the data and also seeing what other, even local news abilities are doing in the United States, cites and states aswell cities and well those in europe and they are taking this very seriously. And donald trump says it is bad. He repeated that. Its bad, its bad. He said this could last until august or even later. Hes calling it an invisible lining. Yo enemy. Y
Weakness. We had massive Dollar Strength in the last few weeks, given the funding issues, and everyone just wanted hands on dollars. The fact that that is easing a little bit could give us some hope that may the funding issues have worked themselves out. What is not working out is big tex. I was innto this year, san francisco. You had rbc saying google, facebook, top calls for the year on ad spending. It was an election year, the olympics, it was all going to be a huge advertising year. As we know, the olympics were delayed. Facebook coming out and saying they are seeing a big uptick in usage of whatsapp. The demand for news is there, yet it is not translating into ad sales. The first thing you cut when things are tough is discretionary spending, so firms are starting to pull back on some of that advertising revenue. That is why youre getting at uptick in usage, but it is not translating into sales. I wouldnt be shocked if we got a lot of analysts revising after the olympics are delaye