Manufacturers, in an effort to less lessen dependency on foreign pharma. This visit ties directly to the start of the president s tariff wars back in january of 2018. Thats when he imposed 30 to 50 tariffs on imported washing machines that were mostly coming from south korea appliance giants lg and samsung. Since that time, whirlpool is up, just over 2 , while the s p 500 has scaled gains of 19 over the same period of time. Also, whirlpool has Just Announced some layoffs. We will take you straight back to ohio when the president speaks. But to the markets. Just a second ago, the nasdaq touched a record high, 107 points to the upside. We are still up about 101 at the moment. 100 points above the 11,000 mark. Right before the closing bell yesterday, the nasdaq actually kissed the 11,000 mark. We noted it, seconds since the bell was closing. Well, it closed one point below. Will we see it close above 11,000, if it can hold on to its gains it will notch its fourth Straight Record close. Do
Impact on Small Businesses is still unknown. Boris johnson announces a dramatic lifting of lockdown measures imposed in england as the u. K. s chief medical officer warns the virus will persist into 2021. Its just gone 6 00 a. M. In london, 7 00 a. M. In paris. This he question is why is Anthony Fauci talking about a disturbing surge . Are we preoccupied by the two magical words from Steve Mnuchin . We will exit the session at the end of the year, with 10 unemployment potentially. We are hanging our hats on the holy grail of hope, but the reality of real human hotspots in this covid crisis. Nejra yeah, absolutely. When you talk about the real human impact as well, yes, we look at the fact cases are surging in the transmission rate is actually above 1 according to some estimates. The real human impact is on jobs as well. There are really questions over when that support comes away in autumn, what that means for the jobs picture, not just for the u. S. But elsewhere as well. Manus no, yo
This is bloomberg surveillance. This is what the markets are focused on. The markets are looking at some of the data out of germany. Business confidence coming in. 86. 2. Instead of the estimated 85. We are watching out for the case surges in the virus. Something i dont look at very often, but we decided to put in aussiedollar. It did reverse gains. It does seem that european stocks are slumping as investors figure out asset types. Now lets get straight to the bloomberg first word news. Here is dani burger. Dani the pandemic spread in the u. S. Is leaving some state officials to consider slowing or even reversing plans to reopen. Infectious disease expert Anthony Fauci is concerned about the uptick. Struggling to pump out its 2 trillion of virus aid. Much of it remains stuck in tokyos aging bureaucracy. Still 40 of the funds have not reached people despite being approved in late april. For loans to Small Businesses, only 14 have been lent out. For job protection subsidies, it is even w
Ago where i was on 101st street in new york and i counted seven ambulances, two of them working very quickly with very sick patients. Its not new york, washington, or boston. Its across the nation. I use this word very selectively. It is grim this morning in the sunbelt of america. Francine it certainly is when you look at the numbers. We will get to our number. We spent a lot of time looking at the number of people infected by one person. Lets get to the bloomberg first word news. Mentioned, some of the biggest states seeing a jump in Coronavirus Infections and that has thrown reopenings into disarray. Cases surging in texas, florida, and arizona. California broke a record for new cases. County, florida has become the latest jurisdiction to make Wearing Masks mandatory. Borders are open again the European Union may keep americans out. They are discussing lifting the ban on nonessential travel at the beginning of next week. Hispoint being looked at u. S. Citizens not being allowed into
U. S. Trade representative Robert Lighthizer was on capitol hill to testify on the Trump Administration trade policy. The use of tariffs, trade with china and implementation of the u. S. Canada trade agreement. Mr. Lighthizer was asked about the Global Supply chain of the inquisition of personal protective equipment during the coronavirus pandemic. The Senate Hearing is just under three hours. Im pleased to welcome ambassador lighthizer. Thank you for joining us. We need to have you here because we face great challenges whether its the murder of floyd or whether its the economic downturn we had because of the pandemic or the pandemic itself. We have a lot facing our country. Its not going to be easy to bring us back on the course of iran and their brave but good trade policy will be one important part of doing so so im glad we have that discussion today. Trade policy is immediately significant because we need to make sure we dont have any unnecessary taxes on goods g2 the recovery or i