Because there is some, not a lot but some cautious optimism starting to trickle out around both the markets because they ended their day and they ended their week higher as well. Perhaps some hope on the horizon about america getting healthy and getting working again. But tim seymour with 22 million filing for jobless benefits in just the last three weeks wiping out a decade of job gains, no doubt some very hard Economic Times for millions of people still to come. Is there really any good reason for markets to be rising like they have been i think its a liquidity squeeze. Its been a skepticism trade that has squeezed markets higher it has been a combination of the Federal Reserve expanding its Balance Sheet to 6. 1 trillion. Its been all of this well ahead of the recession frankly its been a dynamic where i think the positioning of markets allowed markets to push on higher it doesnt change from where we are but obviously we started all this on covid19 as weve gotten more clarity on cov
Says the economy will take off quote, like a rocket ship when it reopens. The questions, though, are when will that be and what will it look like. The market is asking those very same questions as it searches for direction this morning. More green on the screen but again, markets want to know how much economic damage has been done. Meanwhile, moodys says economic output fell a staggering 29 in the first week of april. That is compared to march. That is the first full week of true social distancing rules in place across the country, and that was the result. Down 29 . The other big story of the day, the w. H. O. Is under fire from President Trump. The president saying he may freeze funding to the organization over its response to the pandemic. This is happening as we get more clarity on what may be in a fourth stimulus package. President trump wants 250 billion more for Small Business. Senator schumer wants a 25,000 bonus for front line heroes Like Health Care workers. And we also have s
Happy easter for all those celebrating. Happy holy week. To my right we have dr. Jim. All for taking time. Lets go through where we are today. On this beautiful day. Lets start with the good news. We deserve some good news, lord knows. Change in total number of hospitalizations is down again. This is the number we have been watching, because the fear for us was always overwhelming the hospital system. Added capacity, we have moved equipment around. The fear was always overwhelming the raw capacity of the hospital system. The number of beds. The number of additional net beds was always important to track. That is what we see here. The net down 53, which is the lowest number since we started doing these charts. That is a good number. Three day average, it is a little more accurate than the youtoday is also down as see. 18,000ospitalizations, 18,700. He see the 18, 18, 18. That socalled flattening of the curve. The apex is not just an apex, it is a plateau. That is what the experts were t
It is up 25 , but still well below 15 a barrel on a supply glut in the u. S. And around the world. And as Congress Passes that 480 billion relief package to keep the Paycheck Protection Program running, td bank has promised some 26,000 Small Business loans. The ceo is going to join us in a few moments and tell us how he did it kelly, over to you all right, tyler, thanks. Todays rebound is led by tech stocks again they were under pressure yesterday. Lets get to bob pisani for more on the rally bob . And like i said, the last hour, threetoone advancingtodeclining stocks, thats a nice move up. But this is really in a sense tech and even mega cap rally the five biggest stocks on the s p 500, huge gains here facebook is up 7 . Google is up 4 . Microsoft, apple, amazon look at these moves up the other bigger five, berkshire, walmart, only one, Procter Gamble were down when you get nine of the top ten moving up, the s p is going to move, even if the other ones dont do much at all this is a me
More cheers for hospital workers, new york city firefighters joined residents in saluting staffers during shift change at a facility in manhattan in what has become a nightly ritual. Turning to the new hope on the front lines in the race for a vaccine. Only a few Human Vaccine studies are under way in the world but one of them at university of philadelphia is showing new promise. Brian taft has that story. Reporter the race to develop a covid19 vaccine in philadelphia is kicking into high gear. Dr. Pablo tevas is leading the second u. S. Vaccine study in people at university of pennsylvania, one of only five Human Vaccine studies around the world. This is the most important study that i have done in my life. Reporter he is testing a skindeep shot on 40 volunteers and says phase one should be wrapped up by july. You have a vaccine that can be distributed in the general population, vaccinating largest amount of people. It would probably take a year to 18 months from now. Reporter more th