At here. What is happening in new york city bears watching because if this phase one plan goes well in couple weeks, they could extend to restaurants, other offerings. It gets a little it about more involved than that. Kristina partsinevelos following it all. Kristina. Reporter neil, you said the word busier and that is a great way to explain it. There is a lot more traffic on the street. A lot more people on the corners. Im seeing people waiting in line on bus. A lot of retailers in the city remain closed. Im in times square, normally we would be packed like sardines trying to get to a shop. The old navy behind me, the gap behind me kept their doors closed. Phase one is supposed to allow, agricultural, manufacturers, construction sites, retailers all to open their doors but were seeing not even Curbside Pickup. A lot of major retailers saying theyre holding off. They want to see if people are comfortable going back out on the street especially since many businesses urged their workers
Measures of the Federal Reserve is leading the way, after spending trillions buying Mortgage Backed securities, corn rat securities, Treasury Bonds all that sort of thing this is another arrow in its quiver that is not really been explored or to my ive been following these bites here, even explain what a main Street Lending facility will be, but the very talk of it did bring us off our lows. Again, just throwing that out there as one of the reasons why we dipped from down about 280 points to now down about 180 points. Lets get the read in the meantime about the worries for the Market Going Forward here, and that will be in another couple of hours or so, the president outlining his plans to respond to china, presumably on this crackdown going on in hong kong and throwing in their concerns the president has about how the chinese handled the coronavirus, something is up which has a lot of stocks that depend on trade with china down. Blake burman with the latest. Hey, blake. Reporter hi th
On the chin. Again what the experts sort of give they can taketh away. When Jerome Powell talked about the fact even with the flood of stimulus weve already seen, good idea to see more stimulus. He didnt put a dollar figure behind it. The Federal Reserve has spent trillions backing up businesses and banks by buying treasury bonds, corporate backed securities, etfs, and to back up corporate paper. That is unusual, in this particular case unprecedented. He seems to signal we are not out of this by any means. These delays in openings here as we heard new york metropolitan area, broadway doesnt do anything until at least labor day. People add up, lets push stocks down. Now there is good news though. We always want to posit that. Favorable developments on the new york state area, new york city to the point and new york area hospitalization as key level looked at closely continuing a decline has been better than two weeks. Anyway, we have David Lee Miller following all of those new yorkrelat
Jobless claims news, over last nine weeks, over 40 million americans applied for first time jobless benefits this is expected to be about the worst of it. We might see an unemployment report tipping 20 or so. That could be the worst of it or at least that is the hope. Lets getted read from Jackie Deangelis following what is happening on the virus, following what is happening on the markets putting it all together. Hey, jackie. Reporter neil, with respect to a bumpy ride the markets are a little confused today. Down 50 points, this is smaller bump than weve seen in the past which is definitely a good thing. The big question has always been as states start to reopen, are we going to see a spike in cases . That was always the fear, the argument against reopening. Here is what we know, global cases topping five million but that doesnt really tell the whole story. Testing has become more readily available. More people being tested. It will look like more people have the virus, presumably be
That trend remains the empire states trend. Never mind deaths and overall cases are stubbornly high. The trend is the improvement. We were up a lot on major market averages. As you heard from stuart, the nasdaq now in positive territory for the year. Dow jones industrials, s p 500, sprinting ahead, with the dow down 50 on the year. Really recouped losses. Nasdaq over 9,000. That is startling development as technology continues to be own a tear. It got a little bit of extra spring in the test with news out of new york that hospitalizations are continuing a favorable trend. For more on that, David Lee Miller in new york, with the latest what is happening there. David lee . Reporter hi, neil, in the words ever the governor were now on the other side of the mountain but he said it is a slow decline. As you so rightly point out the number of covidrelated hospitalizations are down. The latest daily death toll in new york state, now 231. That is one less than the day before. That includes som