Plus the billionaire tilman closing more than 70 restaurants that had just reopened because of the unrest in various urban areas. He will join us later and well tau talk to a ceo who just pulled the plug on a big money deal with facebook. This has Mark Zuckerberg starts an all hands meeting with his employees. Power lunch begins right now thanks. The s p 500 is on track for its third day in a row of gains despite everything going on in the country and the nasdaq is sitting 3 from record highs lets get to bob for more on those markets. Bob. For once, nasdaq is not necessarily the market leader. What were seeing today is energy, industrial stocks leading. Bank stocks leading. Its the reopening story and broadening story this is remarkable its been going on for three weeks. S p keeps going up but the leadership has been altered in the last few weeks in favor of those reopening names. I want to show you the megacaps because we start with them they have fwn driver of much of the rally in ab
Good mothers day. I know thata theres moms of their own. a ia had a great weekend with my wife and also obviously my mother, you know, honored her. a what dida you guys do . a we dish a porcha photo shoot and took greata pictures on the porch. a what akind of things did you do . a i cant wait to see the photos. a we kept it simple. I sat out in the little boys played some game witha my husband, and i watched and enjyeda snacks. ait wasa really low key. Ia called and aface time my mom and did a zoom familya chat. a it was simple and nice, mike. a it was really nice. a yeah, right from the aget go. I made the brekfast faora the afamily. a i mentioned earlier in athe newscast that my children stepped up and made their beds. athats a huge accomplishment in themselves. a that was nice to see. aa yeah, that was a good moment. a yeah it was funny. Theya gavea some gifts to mom. ai thought ita went okay. a now, i can wring my amom and wife in to the room, aa you would have to ask them. a yeah,
Money away for loan loss reserves. Alison Williams Joins me now. What were some of your takeaways. [no audio] actually, we are still working on her audio, so lets go to Annmarie Hordern first. Part of what we heard was from fatih birol of the iea talking about how bad demand would be, despite any production deal. Annmarie some seriously drastic headlines out of the iea. The other part is what they are talking about what this means for storage. It is testing the logistic capacity to the limit. On the demand side, they see april serious demand destruction, down 29 Million Barrels a day. For the year, what that means is 9. 3 Million Barrels a day, the worst we have ever seen on record in terms of demand. What the opec cuts probably did was maybe pull us back a little bit from the brink, but not doing that much. You can see that with what is talking about in storage. They say that could be exhausted by the middle of the year. All of this putting downward pressure on the future prices. Wti
Not showing any signs of slowing down as daryn mentioned new york is the hot bed right now we have John Lawrence with the very latest. The covid 19 pandemic is growing exponentially we see cases doubling every 3 to 4 days for 4 consecutive days this week the us had its deadliest day of reported deaths due to the virus mrs. They 5 of corn teen in day 5 of widow, good for me. And then were clicking off one day at a time and now the United States is the epicenter of the disease with the most cases in the world youve got to hunker down nail down mitigate mitigate mitigate. Get the people taken care of thats what you got to concentrate on you have to go with the data vaccine trials are underway and the shutdowns and restrictions across the country remain in place to slow the spread of the disease. But no state has seen a decrease in cases which means the us probably has yet to hit the peak. I want to be clear the worst days are still ahead despite the uncertainty of what lies ahead the medi
We can stem the tide, but its going to take all of us. Yeah i think th the everybody is saying that the president is still hopeful. That the country can reopen and that hes going to try to relax the social distancing. But if you look at the governors they say now is not the time to let up change snow in fact the viruses. Wrapping up if anything else weve got John Lawrence with the very latest now on both new york and california. The covid 19 pandemic is growing exponentially we see cases doubling every 3 to 4 days for 4 consecutive days this week the us had its deadliest day of reported deaths due to the virus mrs. Day 5 of corn gina day, 5 of widow, good for me. Were clicking off one day at a time and now the United States is the epicenter of the disease with the most cases in e world you got to hunker down nail down mitigate mitigate mitigate. Get the people taken care of thats what you got to concentrate on you have to go with the data vaccine trials are underway and the shutdowns a