From todays apple event we start with a major selloff in the financials the biggest driver in the market with the xlf falling more than 1. 3 citi dropping 7 today under pressure that regulators could crack down on the banks Risk Management systems the stock is now down more than 12 in the past two sessions guy . Dan nathan has been talking about this for a while one of the things weve said is todays banks are much different than ten years ago theyve become utilities you have to look at them differently and you have to factor in valuations much differently. Ill say this quickly about citi right now at 45 the stock is now trading 63 of tangible book, assuming that tangible book is accurate thats levels we last saw probably in the financial crisis these are trough valuations in terms of the price of tangible book i think Warren Buffett told you everything you need to know about us banks hes obviously paring down exposures in banks i think that tells you a lot as well in terms of citi, its
All right, guys. Tike to talk about weather and then we can get back to the fun and news of the day. 16mileperhour wind at fairfield. Not a bad onshore breeze, but not enough to keep us out of above average temperatures this afternoon. You can see some clouds hanging along the coast and a little bit of haze in the bay, but not a spare the air day. Temperatures are in the mid50s again this morning. Temperatures in the 60s at the coast while the rest of us hit 73 to 83. Those are already average temperatures at noon. And we still have several hours of warming. That is why well be above average. 82 to 94 at 4 00. And still 75 to 84 at 7 00 inland. Hotter this weekend. And the spread of covid19 infections shows no sign of slowing down. A record 60,000 new cases have been reported in just the last 24 hours. The sun belt from california to florida is now the global hot spot. Dr. Birx is bleeding fpleading to push back on reopening. Really asking those in those states to not only use the face
Facebook executives has been meeting with advertisers and Mark Zuckerberg has agreed to meet with civil rights leaders to hear their concerns. But he has had such meetings before. Will another meeting change anything . Joining us is the color of change Vice President , part of the folks who have been pushing the stop hate for profit campaign. Thank you for joining us. Were hearing that zuckerberg has agreed to meet with folks like yourself to try to hear you out. What are you expecting to hear from him, given that you have met with him before and his position has not necessarily changed . Thank you for having me. We are hopeful that in a meeting with Mark Zuckerberg, he will finally hear our real concerns about how the platform is operating. We have obviously been in conversations with the corporation for years, and our demands remain the same, but we are hoping that in light of this new pressure from corporate advertisers from across the globe that he will actually hear demands for a
Concealed the outbreaks. Like it said, the u. S. Is taking the two nations to the brink of a new cold war. Storm alert. Millions in the south facing the risk of Severe Weather and flooding today while dozens of cities out west set to bake under recordbreaking heat. We will have your full holiday forecast. Letting his guard down Prince William getting candid about the challenges of fatherhood and facing them without the help of his mother, princess diana. The emotions come back in leaps and bounds, because its a very different phase of life and theres no one there to kind of help you just ahead. Our first look at the powerful documentary on the future king. All that, plus champions for charity. Four of sports biggest stars, tiger woods, Peyton Manning, tom brady and Phil Mickelson come together for a special round of golf you made it the big money they raised and the big fun that was had. I split my pants. You got so excited you split your pants after making that. Today monday, may 25th
To take itot be able soon. New york times on the president s comments. The woman on my right needs no introduction. Right, the department of Health Communicable disease medical service director. Honor to be here. The superintendent of the state police. Office ofor of the Homeland Security is with us. Counsel will join us shortly. Before i get to the daily numbers, a couple of announcements and updates. Good videoconference with the white house yesterday that had a particular focus on Mental Health and the implications to Mental Health from this pandemic crisis. Good discussion and exchange. I should also say that while it was not the purpose for the call, tony fauci was in the room on the other end. Expressingly caution, and i felt his comments on the early returns on the vaccine reported yesterday were actually pretty upbeat relative to his normal demeanor. That was a big take away. I organized a call for about 16 democratic governors and Speaker Pelosi to go through her heroes direct