Losses the university of michigan warning of a billion dollar hit from the pandemic. Their president will join us kelly. Stocks are lower coming off two straight weeks of losses lets get to bob for more on the selling today. Modest rally in the last hour s p is comfortably over 2800 again. Two issues weighing on the markets. I think a lot of investors surprised by warren buffet not so much buying the realizizati realization tha slower than people anticipated restaurant stocks all down dave and busters, dennys. You can see theres less optimism it will go so well in the restaurant stocks today. Mr. Buffet getti inting out of positions didnt help at all all down 3 or 4 the leadership out there on the plus side, wfh the work from home stocks have done so well the wall greens walmarts have all done so well a little bit of, i think optimism that the Energy Stocks are continuing to holdup well. Weak open but a lot of the big names in positive territory. Refiners Like Marathon Petroleum and th
The u. S. Revised down its revised forecast for this year and next. The outlook for automakers in a postvirus world. We look at the prospects of japan the boss of lamborghini. Shery breaking news out of south korea. We are getting the Unemployment Rate for the month of april, coming in at 3. 8 . This would be below expectations of more than 4 and at the same level than in the previous month. South korea of course has implemented big fiscal measures, not to mention the relaxation of social distancing measures and president moon jaein asking his ministers to swiftly draw up a third budget. He has announced something of a korean style nodeal with statement investments, and we are seeing the south korean Unemployment Rate at 3. 8 , the previousl as in the month as south korea continues to battle the coronavirus pandemic. That seems to have restarted and regained some momentum with those infections around nightclubs in seoul. Lets turn to Sophie Kamaruddin in hong kong for a check on the ma
Starting this weekend, every single city parking lot is closed to discourage day trippers. Yet people keep showing up. You cant go to work right now. Its against the law. But people are going on vacation. Reporter ken collins showed this video in santa cruz. Parked cars lined up for more than a mile near the beach. Because beach parking lots are now off limits. You couldnt find a parking spot if you wanted. Ive never seen it this crowded, fourth of july, labor day, christmas. Seens like this. Crowded beaches with little social distancing. Beaches are full of people, and i dont think its right. Staying at home is just not easy. I think people are getting a look at quarantine kwat teague. Reporter university of maryland professor is conducting a study tracking smartphone data which shows a disturbing trend. For the First Time Since the stay at home orders, Many Americans are staying home less. Thats a shift in momentum which is really not helping in terms of fighting the virus. The bowen
Baseball is looking at an 80game season starting in july. Football arrives in september. Disney allowed, what, onethird capacity at its shanghai park and it sold out. While lockdowns continue, they are being challenged most notably by elon musk. Wasnt to op he wants to open his tesla plant in california. The Authorities Say no. Hes going to court and says he will move out of state if the factory stays closed. As for the market, that will open lower. Solid gains recently but a pullback so far this morning. The dow is looking at a loss of 270. The s p down about 30. The nasdaq off about 72 points. Lets get to politics. Big week for that. It is trump versus obama. General flynns lawyer says the plot to undermine the Incoming Trump administration was launched in the white house by outgoing president obama. President trump calls it obamagate. Theres a lot more coming on that one, believe me. Its monday morning, may 11th, already, and another big show for you. Varney company is about to begi
Many of us in the bay area are staying safe, adjusting to the new reality of wearing face coverings are not everyone has the access or tools they need to fight the coronavirus. Coming to you live from my home. San francisco, san mateo, and sonoma counties requiring face masks for most activities outside of the home. Efforts in San Francisco launched, making sure those who need a mask get one. We are trying to to to to the people who need it. Reporter face masks and hand sachbitizer, two vital tools against covid19 were handed out for i have to go grocery shopping, i can rewash it. Reporter neighbors are getting info. The supervisor was surprised so many showed up. Check out the line. It was long. Thisthes i a mask to everyone who needs one. Reporter collecting donations to pay for masks and sanitizer, more than 7,000 so far. Teaming up with united players to hand them out. Did you have a mask before today . No. Deborah is feeling safer. People cough and gag in front of your face. Peopl