Market we have a great lineup of guests coming your way well speak exclusively with Morgan Stanley ceo james gorman. His take on the markets come back the read on the economy and the strength of the banks. Plus, you will hear from the ceos of macys, Signet Jewelers and brown foreman. Theyre joining us to discuss their path forward for their respective irz stroo respective industries. But lets begin with the Broader Market the rally, take the pause today following the rapid surge that pushed the s p 500 back into territory for the year if we close higher well get another record close for the tech hefin dechl. What you are watching . It does look that way, sarah. A recoil from the recent trends. The headline index is pulling back outside of the index. The majority of volume is to the down side. This is one day where the indices are understating the weakness they want to take a look at the one year really all the pullback meant is a little dip below 3200. It held there and bounced modestl
Other Health Coverage thats not sponsored by one of our employers. Number two here, this is 2 and 3 is in respect to our s. F. A. S with health care s. F. A. S, they can decide to cancel Going Forward for the rest of the plan year, cancel their election. They can make a new election if they had not enrolled in a flexible spending account before. Or they can increase or decrease their election. And this is Going Forward. And number three, applies to our dependent care flexible spending accounts. Again, they can cancel Going Forward in the plan year of their election and make a new election or increase or decrease the election they have made for the plan year 2020. Next slide. So the next one, which is based on i. R. S. Notice 2033, is specific to Health Care Flexible Spending accounts and this is our carryover provision that we currently have in our Health Care Flexible Spending accounts. Typically i would ask you to approve this, again, this september for the following 20202021 plan ye
Of tests that were positive was 5. 3 , which is encouraging. Have 61 newy, we do deaths to report today. You have been hearing me report similar numbers for a long time now. I do not want anybody to think that these are really numbers. These are people. This is very tragic. Forwardy much looking to the day when the number of deaths is zero. It is true as we reported last week that the number of deaths is higher than we would expect it to be, given the number of cases that we have and the rate of transmission. We are continuing to look at. Hat and figure out why that is currently, we have 1006 hundred 1056tients hospitalized patients hospitalized. Interestingly, today we look back to number five in the nation. We had slid down to six yesterday. We traded spots with rhode island today. Speaking of testing, the best ins that we had yesterday the White House Coronavirus task force telephone conference with the nations governors was the commitment that the federal. Overnment made native. Lo
Brown, pete nigerian on the phone, erin browne. First, lets check out the markets to see where we stand this hour as the busiest week of earnings season starts to ramp up the dow up just 28 points. Nearly 400 point gains the s p just marginally to the downside the nasdaq up nearly one full percent at this point. 8657 there a key focus for many traders up about 1. 25 at this stage its great to see you i guess i would start by saying the s p 500 is now down 11 year to date. The recovery has not been anywhere near as robust for the median stock as it has been for the gigantic stock in week is what i call the playoffs of earning season the most important stocks to the overall direction of the s p or reporting. You know the names microsoft, facebook, google, et cetera those are really the stocks that i think matter most directionally. This could be a very interesting week its not all bad yesterday was a massive day. Thats what youd want to see. It happened. The iwm had a 4 3rs day. Not much
Let that sink in for a moment. 16 just this week were not even done. President trump announcing a travel ban on all nonu. S. Citizens coming in from europe were awaiting details on a stimulus plan or domestic response to ensure containment mitigation and increased testing capabilities right here in the u. S. Were talking to three ceos today. Group one auto, redfin and verizon ceo about how these companies are dealing with the fall out and what the impact of this virus will be on the overall economy. Lets get right to our reporters covering the story for us rick ismonitoring the action i the bond action. We begin with steve on the phone with the latest on this move by the fed. Its been about an hour for markets to digest it people are still trying to figure it all out here it looks like the Federal Reserve is going to do a series of masds ifr operations to put it this way, it will be a trillion dollars a week in the following ways a half a trillion dollars was done at 1 30 today a half