Be affected by the virus. And sanders pushes biden in his First Network interview since endorsing joe biden. The senator tells us why he thinks all of his supporters should vote for his former rival. But first, heres todays eye opener, your world in 90 seconds. The battle continues, but the data suggests that nationwide we have passed the peak on new cases. In terms of the key steps we have to have in place to reopen the economy. If you had a magic wand, what would we need . The absolute thing that you would need is to be able to respond and contain whatever rebound you get. Another 5 million filed for Unemployment Benefits last week. In a fourweek span, more than 22 million americans filing for unemployment claims. Massachusetts senator Elizabeth Warren officially endorsing former Vice President joe biden for president. If he asked you to be his running mate, would you say yes . Yes. U. S. Navy now says iranian vessels tried to harass american war ships in the north arabian sea. Dange
Laez mayor made a similar announcement overnight. And the white house is considering making that recommendation in hot spots across the country. It is a dramatic shift in guidance, designed to stop the spread of the virus. And it comes as confirmed cases now top one million worldwide. Nearly a quarter of all of those infections are right here in the u. S. More than 5,000 have died across the country. And theres another stunning number, 6. 6 million americans filed for Unemployment Benefits last week. Thats double the number of claims from the week before, and it is historic. Take a look at this chart that puts it in perspective. Earlier this year, weekly claims numbered in the thousandss. Tonight, they reach into the millions. In the outbreaks epicenter, new york and new jersey, some hospitals are now diverting patients as those i. C. U. S fill up. Our team is covering all of the headlines, and well get to that new guidance on the mask in just a moment, but Mark Strassmann leads us off
Points hallelujah. S p soared 9. 38 . [ cheers and applause nasdaq pulled 1. 28 it feels like 2008 when the Congress Approved the bank bailout. On the for the stock market to start crashing not long after. Sell, sell, sell. The covid stimulus bill will pass and pass on the second vote heres the problem weve been in the worst bear market i have ever seen. We have been down endlessly. Proprietary s p oscillator i follow keeps registering a minus 20 reading making it the most deeply oversold moment in the history of the oscillator. When you get that level negativity, endless, endless, endless, you get a coyle spring of a market. Usually snap back with a vengeance. Typically based on short sellers ringing the register to close out their business remember if you owned a stock and it kept going up, up, up, you might want to take profits then it goes down, down, down, you might want to take profits if youre betting against it and, look, its very bullish that Congress Seems to be making progre
And global names are all taking it on the chin. The market itself is down close to 40 from highs reached a little more than a month ago. And this is feeding on itself. Now, the excuse de jure seems to be the fact that the senate could not cobble together a rescue package late last night. 2 trilliondollar package, democrats say was tilted too much towards businesses. Now theyre scrambling again to come up with something that might be more mutually acceptable. Questions whether it is too little too late. If you consider the 3 1 2 to 4 trillion that the Federal Reserve has provided through everything from cutting Interest Rates down to essentially zero to buying mortgagebacked securities, buying corporate paper, buying anything that they can get their who little hands on to get the cash in the system, that is what it is all about, get cash in the system so people dont feel theyre frozen out, or there is no money available, you hear a lot about this quest for liquidity. Liquidity, my frien
Territory. The nasdaq turned into the green the last few minutes. A lot of going on as always. Were waiting for update at this hour from the White House Coronavirus task force that update should come about hour a little more than that from now. Meantime lets get to the top stories as they develop on a monday. Fox Business Team coverage with Lauren Simonetti in the newsroom in new york, blake burman at white house for us. Hillary vaughn on capitol hill. Blake, we start with you. Reporter connell, melissa, the negotiations get nearly two trillion dollar package at going on the white house, treasury secretary steve mnuchin, negotiating with Top Democrats. One of the Top Democrats he is confident this will get done. The white house had been hopeful this would get to the president s desk for signature at some point during this week. The Vice President mike pence reiterated that timeline just a little while ago. President trump and i absolutely believe. Sake of american workers, economy, see