Likely to hit around 15 . This morning, the private sector reports the loss of 20,236,000 jobs just in april. Reopening the economy is designed to try to bring back some or most of those jobs. So here we are. With all the bad Economic News breaking around us, what does the market do . Well, it rallies. For the third day in a row, the market opens higher. This is a bet on the recovery and a bet on the federal reserve, which is putting at least 4 trillion into the economy, and the treasury which is putting in over 3 trillion. Thats called stimulus. Investors appear to like it. The dow is going to be up about 140 points. Nice gain there. The s p up 15, nasdaq up about, what, 58, 60. Look at this. Oil, 23 a barrel. Thats where it is now. Earlier, it had been at 25. There has been a dramatic fall in supply and a hopedfor pickup in demand as some states start opening up their economies. So thats why we are in the mid 20s for the price of oil. But you can say goodbye to the gas price decline.
On this, and take the oil and find a place to ship it. That is proving to be a real conundrum for these markets here. There is a company, variety of companies that do this for a living including one called valpak. It has storage barrel systems i dont know what you call it all over the world, include places in singapore, rotterdam, theyre essentially saying there is no room at the inn. Weve run out of space for the space people are looking. Sort of a doubleedged sword here. The fears in the market they have not gone away. At love oil suppliers, their concerns have not gone away. A lot of wildcatters, smaller businesses if you take exxonmobils and chevrons out of this, to lesser extent occidentals host of others theyre still feeling the pinch. Not as much as you would think. Off lows early this morning but still down appreciably. So well be looking at the forward month contract where june is the most heavily traded at the moment. So we will keep an eye on that but we will also keep an ey
When lifeguards then countered about 40,000 people on the beach that of course is raising some concerns of a potential spike in covid19 cases across california, the number of covid19 cases is nearing 43,000 the state also has nearly 1700 deaths, the bay area has close to 7300 cases and more than 250 deaths people in San Francisco are also out and about today taking in the nice weather a lot of people packs local parks to try to get some sun or enjoy a picnic but. Crews are also out there trying to make sure people are following shelter in place rules by maintaining a safe social distance for santorum live in the city tonight, he joins us with more on what he saw when he was out and about dan. Mccann is not as fun as got much cooler out here but earlier today it was the type of day that youd want to be out at the park lots of people packing the city parks here in San Francisco, but many of them were not Wearing Masks or spreading out like they should be. At first glance its another suns
Should we wait a while or do a partial reopening . Time tohink it is reopen your state economy and youre ready to go back out in public, we want to hear from you at 202 7488000. Toyou think it is too soon reopen your state economies, we want to hear from you as well. Your number is going to be 202 7488001. Keep in mind, you can always text us your opinion at 202 7488003, and we are always reading on social media, on twitter at cspanwj and facebook at facebook. Com cspan. Again, all eyes are on georgia right now as georgia has reopened from its coronavirus restrictions. At what the atlanta constitution journal is talking about after that first reopening. Climbsstates death toll to almost 900 on friday, georgians lined up for haircuts, manicures, at tattoos, and other services deemed nonessential. It was day one of georges attempt to restore economic normalcy in the wake of the coronavirus pandemic. But governor brian kemps ision to use restrictions in ease restrictions on many businesse
The economy, pretty much at a dead stop until may, maybe longer. The market is looking to the other side of the virus problem and surely welcomes more financial help. However, stocks are ending the worst month since 2008 and the dow will open lower this morning, off maybe 140 points. Similar story for the s p and for the nasdaq. A down opening bell today. The price of oil, well, that remains at depression levels. This morning we are in the low 20 per barrel and the average price of gasoline, you got to look at this, the National Average gas price has dropped below 2 a gallon. 1. 99, thats your number this morning. The price is dropping about two cents a day but so what . Demand has cratered, the roads are empty, and few people are taking advantage of dirtcheap gas. Now, this caused a stir yesterday. The u. S. Navy hospital ship arrived in new york and was greeted by crowds of onlookers. They were breaking social distancing rules. Those people who were holed up in their apartments and h