Congress now considering a temporary Unemployment Insurance extension. Ahead on todays show, as more government money flows into vaccine efforts, well speak with the ceo of thur ermo fishe. Plus micro Loan Campaign affirm striking a deal with shopify well teex wispeak with marks ln about that and a number of names are reporting after the close including microsoft, tesla and chipotle those numbers could move the market this evening. Lets get straight to the big stories were watching today mike santoli is tracking all of the action meg tirrell has the latest funding for pfizer and phil lebeau has fresh comments from the ceo of united about what a vaccine would mean for his business subdued summer choppy action the Market Holding up near recent highs the major takeaway from the action so far. The s p 500 on a oneyear basis, you could look at this and say were laboring to make further upside from where we got in early june that is true this looks like relatively defined uptrend. The questi
The rate has climbed from 2. 7 people per 100,000 to 5. 1 . If that continues over the next couple of days, we could be in our red zone. Reporter the city has delayed the plant reopening of hair salons, and outdoor bars. The city moved up the opening date for those activities because the infection numbers had stabilized. The Health Director would not say what neighborhoods are making up the new cases or if any particular activity including protests played a role in the spike. We are taking a close look in evaluating the demographics to see if with the search these new cases are significantly different. Reporter he also said San Franciscos hospitalization rate is relatively low, but they are concerned that could change when the disease typically worsens for some people. Over the next few days it will be telling to see where we are with regard to that curve. And then whether we can move forward with our reopening plans. Reporter the Public Health will be watching the infection rates and
Imperial county by the Mexican Border may need to bring back its stayathome order. We are joined with more on the governors warning as we near the fourth of july holiday, deborah. Reporter hundreds of patients have been transferred out of Imperial County because hospitals are full. Theres no room left at the morgue either. Governor newsom once people to keep covid a priority as a make plans for their fourth. We celebrate our independence as a nation. To do so responsibly. Reporter Governor Newsom says he understands covid fatigue and the conversations families are having. We love you, but boy we miss and the kids over this weekend for a festive barbecue . Well, you may be putting uncle johns life at risk. Reporter in california overnight almost 5000 new cases and hospitalizations surging. Imperial county on the states southern border is being urged to reinstate its stayathome order with 23 of its tests positive. As the ominous news is sending people back home, street dining in downtown
Anticipate what will work in that time frame and what wont but after another shocking day, particularly for the sell in may and go away crowd, where the recovery stocks roared, the dow gaining 533 points, nasdaq advancing 7. 7 , the market does not lend itself to that easy divining right now the future is too binary the market feels much more like a horse race where there can be only one winner in a very crowded field of contenders. But its a long race and were still far from the homestretch so it could go either way. Who is running in this race . The first group is the subset of the cramer covid index the storks that enable the stayathome economy think everything from zoom, video, papa johns, dominos. Papa johns 33 sales, thats good news for that horse second group, the recessionproof stocks, mainly the food and consumer Package Goods plays especially ones that make hygiene supplies. During the lockdown, worries about covid, hey, but covid may be waning, lockdown is ending. Third, you
Money jackie stocks are in the green as 373 million americans filed for jobless claims in the last week. Oil prices, unexpected surge in chinese exports boosting hopes that global economies are also on a path to recovery from the Coronavirus Crisis but how will wall street react when tomorrows jobs report comes out . Joining me now former dallas fed advisor Danielle Dimartino booth, bny mellon chief investment strategist alicia levine. Lets start with you. Well talk about the numbers tomorrow. The positive thing in the weekly claims, weve seen five weeks in a row where the numbers are going down but investors like that. When they get hit with the unemployment report even though theyre expecting it and see doubledigit unemployment how do you think the market will react . Look i think the market is expecting somewhere between 17 and 20 unemployment to print tomorrow. This is a little bit of a backwards look. The data stopped three weeks ago. Were reading it out on may 8th, not the first