Shop in new york as we continue our focus here on the show on Small Business. In fact, this hour we will look at how the owners of this business have survived the sixweek lockdown and also look at the questions about how long they can hold out. Also its may 1st. While were still waiting for the green light here in new york to open up our economy, there are more states that are wraf wrafrp that are ramping things up here. We will take you to tennessee and texas later in the hour, where restaurant, stores, even theaters are starting to open. Coverage of our top stories with fox Business Team coverage, blake burman monitoring the latest coming out of the white house especially on the remdesivir news and Lauren Simonetti watching the markets for us. Thats where we start. Lauren . Not a good day to watch the markets, connell. Sharp losses on wall street on this first trading day of may. There are two issues for investors today, two big ones, trade and technology. President trump threatening
Notably russia, and surely it puts a crimp on the future of electric cars. Look at it this way. Why buy electric when a gallon of gas on average now costs 1. 81 and likely to fall much lower. In wisconsin, the average is all the way down to 1. 22. There are some places where its below 1. We will bring them to you. Its a big negative for the stock market. The dow industrials are going to open down 500 points. Thats roughly 2 . The s p down 1 . The nasdaq down 1. 93 . The oil crash really hurts stocks as well. Every energy stock is down. The airlines and the Car Companies, they cant cash in on cheap jet fuel and gas because people arent flying and theyre not driving. Where is the additional help for Small Business now that the first rescue package has run out of money . As of right now, it has not come through. Treasury secretary mnuchin negotiating with democrats over the weekend. Its supposed to be a better than 300 billion plan but its not here yet. Perhaps thats another reason for th
Reopening process going. Look, it does feel that there is a very self confident sense by governors that its time. I think that the president is so oriented towards its time, and the president is soed ed ed eet in having a vaccine by years end, that theres an element of two different worlds here. Theres the real world influenced by the president saying open it up, people want to do it, and the stock world influenced by Warren Buffett who said i sold the airlines because that industry has fundamentally changed. Its a big gulf. Really the largest ive seen amazing. David . Sorry, carl weve been talking about that for weeks. The many phone calls that you or i will have with Business Leaders who are focused on maintaining their liquidity, focused on just being around to fight another day come the end of the year. The many ceos who join us on air who constantly talk about their businesses not coming back to the levels they were prior to the virus for maybe two or three years. Now they may be
Japan suffering its deadliest todays yet. Italy and spain are seeing fatality rates slowing down. Governments stepping up advice to wear masks in public. But this may not stop people from being infected. Shery lets get a quick check of how u. S. Stocks ended the session. We have seen a week of declines. U. S. Futures gaining 1 . The s p 500, it finished 1. 5 down. It fell for the third time in four days. We had abysmal jobs data which came before the government mandated shutdowns. We have seen payrolls plunging 701,000 in march, the first to climb since 2010. Decline since 2010. Take a look at how oil is trading. We are seeing further declines for oil futures. This is after we saw the surge in the previous session. We have reports producers were ready to cut output including the opec would hold a Virtual Meeting this week. Iraq aboutimism from a potential deal. We are seeing pressure on wti and print, down more than 8 brent down more than 8 . The relentless march of the coronavirus pan
On tonights pbs newshour. P major funding for the newshour has been provided by cruise lines, travth American Experience the Maritime Heritage and culture of the maine coast and new england islands. Our fleet of small cruise ships plore american landscape seaside villages, and historic harbors, where you can experience local customs and cuisine. American cruise lines. Proud sponsor of pbs newshour. Carnegie rporation of new rk. Supporting innovations in education, democratic engagement, and the advancement of International Peace and security. At carnegie. Org. And with the ongopport of these institutions and individuals. Ongopport this program was made possible by the corporation car public broing. And by contributions to your pbs station from viewers like you. Thank you. It has been a day like few others in modern morn life, freeft coast to the west, the Stock Exchange and house of worship. For stocks it was the worst day of trading since t 1987 crash. As fears of the pandemic spread,