States to roll back their reopening process. And the move today in part driven by the banks. Goldman sachs, jpmorgan leading the dow lower as the Federal Reserve clamps down on dividends and buybacks amid the pandemic stress are the banks really as strong as they seem plus, the airlines are getting crushed today. Executives will meet with Vice President mike pence as we speak to ask for more aid as travel remains on eyes for most of the country. We will have more on that, kelly. But now over to you tyler, thank you so much the other big name, nike down 6 , almost 7 now after an ugly quarter. They missed estimates by a long shot revenue dropped 38 . Setting off a key debate on wall street we could be in for an earnings season of pain as Companies Struggle to get back to business we will continue to backstop any market pain if the economy remains sluggish or comes to a halt again what will take the wheel Going Forward . Bob pasani and steve diessman to debate the rising cases and the slo
Typically this is the time you would see investors plow back into their equity safe havens like tech names. The sectors outperforming our the two that have been hit the hardest so far this year, financials and energy. Financial still off 24 . Energy down 30 year to date. Well asbank index doing regulators rollback some of the rules put in place after the great financial crisis. Banks will no longer have to set aside money when trading derivatives with their affiliates. That frees up capital, and that is always a good thing for banks. Regulators are modifying the volcker rule to allow banks to increase investments in funds. Do not watch not forget to watch for the fed releasing stress test results. Watch apple and disney, apples closing other seven stores in houston after closing 11 last week because of increased virus counts across different states. Disney delaying the opening of disneyland in anaheim indefinitely. It is not the cake and get approval from state officials in time for th
F150. Impact of the americas favorite pickup truck and i will ask lauren fix about all of that and so much more on making money. Charles the market actually looking for some equalibrium today, folks after yesterdays drubbing. The signs that the about bounce run out of steam has been coming off for some time. In fact the glaring problem has been really broadening out the leadership, right . I talked about it a lot on the show. We need more stocks, more sectors to participate. Maybe financials will finally do that. Maybe they live up to the hype. They have been strong all session long ahead of the fed stress test. Those results after the close. The other glaring problem, how much of an uptick in coronavirus cases will stall the reopening of the economy. Now today both disneyland and texas hitting the pause button. Investors learned to live with pullbacks, corrections, even market crashes but how do you invest and make money when the overall economy is simply not 100 strength . I want to
Commissioner rettig, thank you for agreeing to testify on 2020 tax Filing Season and the irs handling of challenges that are posed because of the pandemic. 2020 Filing Season got off to its typical start at the end of january. However since then, this Filing Season has been anything but typical. This includes the individual and Corporate Income tax filings and payment deadlines which were pushed back from the normal april 15 to july 15. There is some rumors it might be extended again. I dont know. I have heard that at least once. Despite these extended dialogue deadlines, the tax Filing Season continued with money still filing taxes as usual asy still filing taxes usual. At the same time consistent with Government Shutdown orders and cdc guidance, the irs limited much of its work to essential services, closed a number of facilities and instituted telework policies where practical. Shortstaffed irs during the busiest time of the year. That meant taxpayers experience longer wait times to
The decision. And millions more people in the u. S. Lose their jobs but some stores are surviving without laying off staff. Chinas premier is about to outline the countrys plans for the next year after some of its most challenging months the corona Virus Outbreak that began in woohoo and forced it into a National Shutdown which was badly hit the economy and its still locked in a trade dispute with the United States well its just gone 9 am in the Chinese Capital beijing and this is the great hall of the people where the National Peoples congress is getting underway with more than 3000 delegates in his opening address premier league chang is expected to announce plans to tackle the economic fallout will katrina you joins us live now from beijing katrina this National Peoples congress was originally proposed because of the corona virus and how important is this years event given that beijing would want to show that its back to business as usual and claim victory over the pandemic. Well th