Parliament speaker says its clear that there were casualties its been more than 2 weeks since young people began demonstrating against Police Brutality the manufacturer of a powerful painkiller that helped to set off an Opioid Epidemic in the u. S. Will plead guilty to criminal charges as part of an 8000000000. 00 settlement Purdue Pharma makes the Prescription Drug oxycontin which is linked to an addiction crisis thats killed more than 400000 people in the past 20 years but the deal does not release any of the companys executives or owners including members of the wealthy secular family from criminal liability. The unlawful dangerous scheme put profits over people by seeking to increase scripts for addictive jaros even when they were not medically appropriate and at the height of the u. S. Opioid crisis a time when in vermont where im from and across the country people were suffering under opioid addictions that sometimes ended and and so many of those addiction stories began with oxy
Stimulus bill. What happens if washington lets us down again and millions of people, especially in the hospitality industry, find themselves struggling to put food on the table . Does that mean we should use a day like today where the averages went up dow gained 122 points. S p climbed 0. 80 to sell everything into strength not so fast. Like i say every night at the end of the show, there is always a bull market somewhere, and even without a stimulus package, weve got a whole bunch of them that should do just fine as a matter of fact, theres a lost of breadth here first, the relentless bull market in housing. You can think tall brothers, dr horton, these companies are huge kinc covid winners. When youre stuck working from home, your housing priorities change who wants to live in a tiny apartment in the city to save time on your commute when you have no commute. This is the zoom economy, people you might as well move to the suburbs or the country where you can have more room thats why t
Lows the ceo will be here to tell us how he and his company delivered. Plus the university of arizona claiming it has found a new way to prevent covid outbreaks, testing the sewage coming from dorm rooms president Robert Robbins will join us, as power lunch begins right now. I cannot wait for that story. We wait for the beige book from the fed. Dom chu has more on the markets. So the dow is up almost 300 points at this stage, the highs of the session more importantly were keeping close to dow reclaiming record territory. Anybody who has tuned into power lunch or cnbc in general the last several months knows we continue to make these record highs with the s p 500 gold star there. The nasdaq always creeping higher here. Believe it or not, that 12,000 market was hit early today it open up at 12,050, roughly that level just to put things in perspecti perspective, if you look at the nasdaq over the last year, from the lows we saw up until where we are right here, were talking north of 80 ga
Right now the focus is on states and cities that are holding back on reopening and phased reopening plans at this stage here. Looks like it is relatively contained but all of this in an environment where the number of cases has picked and the World Health Organization says the worse could be yet to come. Interesting development as well in england they were reordered to institute lockdown measures. That is follows on heels with other Foreign Countries bedevil ed openings not going necessarily to plan. Im not talk being about what is rapping in russia, india, spikes in cases in japan and the seoul, south korea area. The fear this seems to way on the markets eventually. Something that will slow certainly the reopenings and the economy and recovery that many hoped to see from that. Very tepid. No matter what happens today. Looking like a boffo month for all the major market afterrings, certainly a very strong quarter. The strong first half of the year, well get into all of that, first to c
It is fascinating because the stock is up 67 , at the highs of 74 , on pace for its best day. On the hope that they may be will come up with a vaccine. Markets are so excited for the possibility of a vaccine against this virus. David not just the markets. I think all of us are excited. In the meantime weve been hearing from dr. Fauci from the nih talking about the prospects of reopening and what the risks are. Are the markets reacting to what he is saying . Abigail not all that much. His remarks are more cautious that a vaccine will be available this fall. The idea of herd immunity, not a lot of positive commentary. These are the major averages fluctuating. Not a huge reaction. I would say there is caution. One of the pieces of news on the day that weve been talking about is some degree, especially yesterday, the bond issuance. A piece of this has been on the idea the fed will step in and buy some of these credit etfs. Today is the day they start the at. Investment group they start tha