144,000, 65000 people hospitalized and we are averaging over a thousand deaths a day. A new round of restrictions would surely slow the economy and put more people out of work, heard even more with travel, retail and Entertainment Industries perhaps, thats one reason the market is selling this morning. After the huge recent gains the dow looks to be down about 200, s p down about 10. Look at the nasdaq with a modest bounce to the upside with the dana may be a quarter of a percent of the standout political headline comes from Bernie Sanders. He says yes, if offered the job of labor secretary in a biting next he would take it. On that, we will say this, varney co. Is about to begin. Stuart born to be wild, well i guess thats fairly appropriate. What you are looking at is rather empty new york city on a rainy thursday morning. Of course, its been half empty for about eight months and Governor Cuomo has more restrictions on businesses. Ashley, bring me up to speed. Ashley he certainly has.
Markets sort of whipsawed by the tweets last night from the president trying to figure out exactly where we are how are investors supposed to take this today . Well, you know, i truly do believe, scott, even after the president s tweet yesterday that sent the markets down almost 500 points in a very short period of time, the last hour and 15 minutes of the day, i still belief theres the possibility we have out there, and i brought this up last time i was on with you guys, the idea i thought we would get one done by the weekend or through the weekend obviously with some of the tweets and so forth, but then the president immediately seemed to have flipped back around and be a part of this whole thing. I do think we will see a stimulus at some point in the not too distant future because of that, i think it gives you a great opportunity on that dip yesterday, and obviously youre seeing a pretty nice rise today. We know what the temperature is of the markets and what people want to hear and
But negotiations remain far apart and vander layen believes they are close both sides are severely hit by the pandemic. We should do Everything Possible to find and agreement that is possible so that we do not increase the negative impact on our economies. Lvmh shares move lower. Tiffanys arguments as unfounded for the case of ditching the 16. 6 billi 16. 6 billion take over deal a warm welcome. Lets kick off the show with a look at the markets. Rallying more than 2 breaking a twoday losing streak. Dax in particular was very strong leading gains rallying 3. 2 ftse 100 lagging a little bit. We are seeing a little retreat this morning the dax is down as well lets dive in to the sectors to see the best and worst u littlitiutilities are the onln the green. Lets look at the worst per forping sectors. Yesterday it was worth mentioning you had the banks leading down sharply to the down side banks down 1. 4 . Autos down 1. 3 some of those reopening stocks taking most of the hit this morning. U
Now. Power lunch starts now thanks welcome to power lunch broadcasting from a secure and undisclosed location the nasdaq on pace for its first negative week since june lets go to bob for more on the marks. Bob. Choppy trading but very narrow trading range bio tech sb flat energy, oil has been hugging 40 for a month now. Were down today but up overall in the week. Banks are down but up on the week and had a pretty good week. Amazon down about 8 this week one of the worst week its had in a long time all the damage in netflix has opinion today. The problem is when you have megagabe kaplerture ecagabe kacm players. Thats a head and shoulders, folks round trip the same situation with netflix, really netflix was 500 a couple of weeks ago. It goes to 580 and then its back down to below 500 thats another semi head and shoulders. We keep trying to get over 3230. Were just keep knocking on the doorp that guys have a good weekend. The same to you the Trump Administration is ramping up its rhetori
More work from home. It is thursday, may 7. You are watching Worldwide Exchange here on cnbc good morning, good afternoon, good evening. Welcome. Im Brian Sullivan thank you for joining us on this 75th anniversary of ve day 1945, world war ii and europe ended. Looking at the market and your money. Setting up their thursday morning. We are seeing futures with potentially a rebound in gain. Getting to more on that in one second this would also regain like we said what we lost yesterday. Up nearly 3 this week alone weekly jobless claims are out. They are expected to show another 3 million americans have filed for unemployment. We are nearing 30 Million People out of work. Markets wont move on that it is widely expected. Obviously a difficult number to hear we have breaking news on United Health the health insurancer announcing it will provide 1. 5 billion premium rebates. Joining many Auto Insurance Companies Offering rebounds as people are simply not consuming their products right now we