Cannons and make the first arrests under the new law and chief executive carrie lam defends the decision translator clearly the decision under one country send showed determination and prove on the system and shows the high degree of trust of the central authorities in the Hong Kong Government germanys jobless total rises by 29,000 taking the unemployment level to almost 3 Million People as activities contract in june airbus with jobs on the line as they tell staff the crisis is far from over. Bracing for a mighty battle. Welcome to the show, we are closely tracking some data weve had lower pmis the eurozone number crossing the manufacturing pmi, 47. 4 up from 46. 9 still suggesting contraction taking place across the eurozone one of the bright spots seeing the expansion. Clearly saw weakness elsewhere lets push on to developments in Hong Kong Police say 30 people have been arrested for violations of the International Security law hong kong chief executive carrie lam defended the laws
The dow is looking for about a 300 point gain right there at the opening bell. S p up about 34. Look at that nasdaq go. Technology is doing well, up 104 points. Thats premarket for the nasdaq. Now, lockdown winners. Clearly emerging. Lowes, the Home Improvement people, headquartered in North Carolina. Profit up 28 . We stocked up for the lockdown. Target, they really organized their online delivery and store pickup operation, lumped together under digital sales, up a whopping 141 . Walmart, same story. Stockpiling helped them, too. Amazon, kings of the online selling business. Boy, did they clean up. The stock is near a record high. And the netflix, well, they are the kings of the streaming business. What else are we supposed to do when we are ordered to stay home for weeks on end . There are a lot more virus winners and we will go through them throughout the show. Meanwhile, the revolt continues all across the country. Businesses are defying the authorities and opening up despite the
It may be modified a bit. Spending may be modified. The pattern of household spending. The California Academy executive director said federal aid is helping but not enough to prevent layoffs. It is a harsh reality and one of the things we do understand is that they hope to rehire if they can but theyre not alone in terms of the pain Stanford Universitys president announced in a letter today theyre possibly looking at layoffs and furloughs starting in july. It is a harsh new reality, jeanette, thank you. San ramon based chevron plans to cut 15 of the global work force. The layoffs come amid the sharp drop in demand for oil and gas during the pandemic. No word if there will be layoffs at the san ramon headquarters. Theyre looking to boost their staff to handle the flood of unemployment claims that have been brought on by the coronavirus shut down. The department is looking to hire 1,800 people to add to the 3,000 workers already on the job. Federal money will pay for the additional staff
Evidently investors like what they think they will see. 2. 1 million jobless claims reported about a half hour ago. That means 40,740,000 have been thrown out of work in the last ten weeks. Big number. Yet the economy is contracting at an annual rate now of 5 . Thats a big number. And orders for big ticket items absolutely plunged. Okay. Got all of that. But the dow jones average up nearly 1100 points in the last two days, going up again at the opening bell. Were looking at a gain of over 200 points right now for the dow, and the nasdaq is going to be down, down 80 points. That tells me big techs having another difficult day. Then we have the opening up movement. Its rolling on. Vegas and disney have dates for its partial reopening, but theyve got the dates for reopening soon. Boeing, theyre going to restart, wait for it, max jet production. Were not back to normal but we are clearly well into the reopening phase. Now this. Watch out, social media. The president s going to sign an exec
Market. Thats the way it seems. Secondly, the europeans have announced a massive stimulus plan, close to a trillion bucks. Its really a bailout mainly for desperate italy and spain. Printing the money over there helps us over here. When that bell stops ringing and we start trading, the dow is going to be up, what, about 300 points. The s p will be up about 26 but the nasdaq on the down side. Tech taking a bit of a hit this morning. Who would have thought we would see this. For a second day running, the Airline Stocks are going straight up. Just look at that. In percentage terms, its a huge gain all across the board. Its the same story with the cruise lines. Straight up. This is all about the strength of the recovery in the most beatendown stock market sectors. Now, this may be having some effect on our market. Its the chaos which has returned to hong kong, asias financial hub. Police fired tear gas and pepper pellets at the demonstrators. They dont like beijing seizing control. The que