All that and more, on tonights pbs newshour. Major funding for the pbs newshour has been provided by Consumer Cellular offers nocontract reless plans that are designed to lp you do more of the things you enjoy. Whether youre a talker, texter, browser, photographer,r a bit of everything, our u. S. Based Customer Service team is here to find a plan that fits you. To learn more, go to consumercellular. Tv bnsf railway. Finanal Services Firm raymond james. The john s. And james l. Fostering informed and engaged aret rgkf. O. Ofhens tse ititituoning support this program was made public broadcasting. Ation for and by contributions to your pbs station from viewers le you. Thank you. Ou rescue aid is on its way through ane u. S. Congress tonight, for millions of amerhurt by the pandemic. Meanwhile, infections worldwide have tped 2. 5 million, including well over 800,000 cases and nearly 45,000 deaths here in the u. S. N on capitol hill, a renewed effort today to mitigate the economic pain of t
A recovery that just as quick at the downturn. You know the virus is eventually going to run its course and when it runs its course most of us are going to return to the to the Consumption Patterns that we had before will consume the same goods and services and most of us are going to return to the jobs that produce those goods and services but there there are 2 factors that could significantly change that it could change the the shape recession into a huge shaped recession where the depth of that recession the low output lasts much longer and the recovery kicks off much later in the 1st in the duration of the pandemic the longer this virus blasts the more businesses are going to fail and when a business fails the the labor and the equipment of that business have to get reallocated to some other business and that takes time delaying the recovery the 2nd and. Maybe the thing that we have a lot more control over is our policy response now some of the policies that weve been active here i
Are beginning to see the impact of the cuts. Depending on where you are in a lot of the focus on your markets, a lot of the focus is on your data. You have a lot of earnings and banks saying coming up with a little bit of a forecast. And then we have quite a lot of corporate macro views, we are expecting a number of big Central Banks to come out with statements. Life to 11ing its a barrel. Rapidly moving storage capacity. That story today with a lot of corporate earnings overall looking at not only the oil story extending but if you look at the s p 500, the contract fluctuating. In europe we are holding firm. Lets get to new york city with first word news. Europe heard much of the continent looking to you loosen restrictions. Setting up their plans following germany, austria and the netherlands. Wary ofkers are spurring a second wave. Here in the u. S. , the white house issuing a new strategy to expand Virus Testing as well as revamped guidance for states announcing they would open hun
Beijing we crafted to go he is the Vice President of the center for china and globalization carjacking crosstime groups in effect that means you can jump in anytime you want and i always appreciate it ok lets go to william 1st in florida. Just a few hours ago unemployment data was just released now were up to over 20000000 people applying for unemployment in the United States who would have thought even 6 weeks ago its extraordinary and being a historian by trade i know the history of the Great Depression and the depression very well not only in the United States but globally so when i see these numbers come out its terrifying to hear how it is you know this pandemic will be resolved its only a matter of question and resources and patients because i understand that because ive been locked down for a month now and its getting very very tiresome. How is this. Pandemic going to impact the recovery if there is a recovery and i never thought in my my time i would ask about is there going to
It came before the coronavirus headlines started to impact the u. S. And as a result l brand, which owns victorias secret, bath and body works, has had to close stories, lay off employees and this was sort of a lifeline to l brand to unload it because they werent able to turn it around so if they get stuck with it again, its pressure on the retaile retailers. L brand is a prime example, one of the worst hit. Indeed. Well see you later this afternoon, sara. Welcome to squawk alley, you see the bounce today after two days of losses as we get some progress regarding rescue packages from the senate to the house. Got a bunch of discretionary Companies Raising Capital through various means, secondary and so forth and the earnings not bad when you look at snap, chipotle and netflix last night. Interesting when we look at netflix and snap which had interesting positive metrics in their earnings we had ibm the day before talking about a pause in some customer spending. Were just starting to get