Sanctions and claims to the South China Sea take center stage today. Stocks are shrugging it off. The dow up more than 400 points but the big tech is struggling faang, internet names that have been on fire are seeing weakness today. Were following it all 59 minutes left of trade. Certainly weve been all over the place in markets but were up as we stand with the major indexes we have a big line up of guests. In a few moments well speak with shrewsberry, cfo of wells fargo. And Robert Kaplan will join us and well speak with Michigan Governor Gretchen Whitmer an earlier biden endorser as biden lays out more details of his economic plan. Lets focus in on the big stories were watching at this hour wilfred has the highlights ph wilfred, start off with the banks here. The key focus, sara, as we expected it to be on provisions for potential bad loans. They rose from all the banks from q 1 to q 2 and rose more than expected. Wells fargos more than doubling quarter over quarter the big question
At one point, they were convenience not absolute indicated up about 300 points on necessity as in the activity that positive news out of moderna. The s p is indicated up about 13 couldnt be performed, so even if youre working out of your points and the nasdaq would open home in new jersey, new jersey says wait a minute were not by about two points after a giving you a credit because you performed the work here. Strong dayyesterday. We get to tax you too. So both sets of taxes. All of those states are facing severe crunches at this point so i would imagine all of those states will be pretty aggressive about it. When you say you could do the work some where else, new york city was closed down, offices the nasdaq was up by 1 . Have been closed down. Employers didnt want people back in the building lets look at the treasury seems like a little extraordinary during these times. Do you think eventually what happens the states gettogether you will see the 10year now and work something out whe
Banks have agreed to delay foreclosures and defer mortgage payments for 90 days. Wells fargo, u. S. Bank and chase. However, no relief for renters in all of this. As for all the families, Public Schools in six bay area counties will remain closed until may 1 at least. Some districts telling parents they are prepared to reopen school on may 4 if they get the green light from the governor and cdc. Take a look. We have the latest numbers for you now. Today, more than 1100 people have tested positive in the bay area. Santa clara county still leading with 459 cases, 84 more cases since yesterday. Bay area wise, there have been 27 deaths. At a time when San Francisco hospitals are ramping up for that potential surge in patients of coronavirus, one of the citys hospitals is under lockdown. The nursing home laguna honda on lockdown after five staffers tested positive. Hes bring in our reporter that joins us from that hospital. Whats the plan from the city . Reporter raj, this is a massive nurs
The defenseliams on act and its use in the government. On this boat, the yaeah the bill is passed. Host good morning the Senate Approved a third economic aid package with a price tag of 2. 2 trillion dollars and it goes to the house for a vote scheduled on friday. And then, to the president s desk. We will get your thoughts on action to respond. 202737,000 you can text us with your first name, 2027488003e at or join the conversation on twitter and facebook. Let us begin with the action in the house. , democrat ofleader maryland sent a letter out to the rank and file members saying that the house will convene at 9 00 a. M. On friday to consider the bill in order to protect the safety of members and staff and prevent further threat, the republican leader and i expect the houseboat will be done by voice house vote will be done by voice vote. Members who want to come to the floor will be able to do so. We are working to ensure that those who are not able to return to washington may express
Money . The answer will likely lie with what happens on the virus front. Its good to see everybody hope everybody had a pretty decent weekend with your families, staying safe courtn courtney, im going to go to you first. Its been a while since we have seen you i hope you and your family are well tell us how youre thinking about the markets today. Sdp first of a first of all, thanks for having me pe back. The markets are as expected. Im pleasantly surprised at the resiliency were getting some positive news as to how china is coming back were getting positive news at the potential of this to tail off as we move into the later part of the year which all of us have thought through and thought about. Assuming people continue to do as theyre told and staying quarantines and staying six to ten feet apart even, i think we will start to see things change. The fed has been incredibly responsive and hats off to whats going on as it relates to the fed and the response ifrness in markets no one wan