Markets up on this tuesday a u. K. Clinical trial known as recovery found a possible treatment for cobra 19 while providing low doses of the generic state steroids drug dexamethasone to patients with the coronavirus reduced deaths by up to one 3rd in severely ill hospitalized patients for patients on oxygen it cut death by a 5th while Oxford University professor Martin Landry coleading the trial said this is a result that shows that if patients who have coma 19 are on ventilators or on oxygen are given back some of the stone it will save lives and it will do so at a remarkably low cost co lead investigator peter or be added its a major breakthrough docs some of the stone is an expensive on the shelf and can be used immediately to save lives worldwide meanwhile stocks also jumped off of the u. S. Commerce Department Released data on Consumer Spending for the month of may after 2 consecutive months of record drops retail sales posted a record. 17. 7 percent thats more than double previou
Organizati organization, china as well as investigations of practices of Chinese Companies that are listed here in the u. S. So were up 0. 4 . 3 for the week as a whole sara straight to kayla in washington to recap what we just heard from the president including that significant announcement that the u. S. Would be terminating its relationship with the World Health Organization and sara, the president prevud that a few weeks ago saying it would be reviewing the funding it sends to the w. H. O. In the wake of what it sees as shortcomings by the World Health Organization to alert the u. S. Of some of the risks of the coronavirus. Sources tell me that one of the ways the u. S. Feels most wronged is that there was no information about asymptomatic transmission of this virus until late in the game when the u. S. Population and economy was at risk. He announced the administration would be suspending the entry of foreign nationals from china to the u. S. , that the u. S. Finds at risk to the
We have a number of exclusive interviews for you. As always lets check on your markets. One of the things we watched the most. Rising, european stocks were up, they are turning a little bit lower. The risk on kicked off the week is starting to show signs of easing. Yields under recovery. Also looking at Sterling Sterling rallying. Well have plenty more in your markets. Lets get straight to the bloomberg news. Trump is escalating his threats against the World Health Organization, he is unhappy over its handling on the coronavirus pandemic and may personally just permit the cut u. S. Funding of it doesnt make sweeping reform bring saying the agency is to close to china. President xi gave the who his full backing. The u. S. Is going to have to suffer through a spike in virus cases as the economy reopens according to lowell lloyd banks Lloyd Blankfein break saying they can afford to wait afford to wait for vaccine before reopening. Most historical credits would have to acknowledge. Can i c
Announces he has canceled his Airline Investments and thats not all. Warren buffett revealed this weekend, which was nothing like you are seeing on the screen, it was a virtual Berkshire Hathaway Shareholder Meeting with just buffett and one other person on the stage. Our expert buffett panel is here to read between the lines of what buffett really said. Wall street, as we look at this, it has happened. A National Store chain has succumbed to the coronavirus. J. Crew filed for bankruptcy protection, leading us to ask whos next. Major Industry Groups are now banding together by asking congress to prevent another one from going bankrupt. One of the biggest retail lobbyists is here on why the trump tariffs must be suspended if retail is to survive. And as restaurants, oh, boy, we know how tough its been for them, across the country take baby steps to reopen, weve got one of the bestknown star chefs of the world here. Celebrity chef Rocco Despirito on how to put out the massive corona fire
Alltime high. Another Federal Reserve official says he sees growth returning in the second half of 2020 and no need for negative Interest Rates. With lots to come on todays show, well speak with mylans ceo. Well discuss the companys outlook for the rest of the year and whether its seeing a trend of customers stockpiling medicines. And the ceo of Ortho Clinical Diagnostics will join us at the moment we are up 0. 4 on the s p 500. Before we continue, just got to comment, new braackdrop, i love it did you do this by yourself . No, i had some help by the amazing technical staff at cnbc. I think people were sick of looking at my old School Parking meter. Its a great balance between home and work. Cnbc, always with me. Exactly the s p 500 is up about 0. 4 nasdaq up 1. 25, dow is flat. Lets get to the markets as stocks are climbing back from sizable losses at the open all four indices just turned green. Mike santoli joins us with more on todays action. Hi, mike in fact, kind of an extreme exa