Plus, the new power graby Vladimir Putin. Mmer scorcher. The potentially historic heat wave on the way as we gear up for july 4th. Newlywed nightmare. The couple washed out to sea and the dramatic rescue. Plus, the woman who claimed she was fired because her boss felt her kids were too noisy during conference calls. Good thursday morning, everyone. In the last 24 hours the u. S. Has broken another record when it comes to new cases of the coronavirus. For the first time weve seen more than 50,000 new cases in a single day, and the number of people in the hospital is back to the level we saw in may. 22 states are now pausing or rolling back their reopening plans. That means more restaurants and ek tmorning with man theres incoern ou our coverage. This morning, california rolling back reopenings as new Coronavirus Infections explode. The bottom line is the spread of this virus continues at a rate that is particularly concerning. Reporter 70 of the state now under new restrictions. Restaur
The nasdaq hitting a new record high and amazon shares crossing 3,000 bucks a piece for the first time ever. Shannon, well start with you on this one what the you make of the rally is it legit and why is it happening now given everything we know negatively about the coronavirus virus . Were just continuing to see investors look at the sentiment thats coming out of the surveys and anticipating this continued v shape recovery we have seen the v shape recovery in the stocks already were anticipating a v shape recovery in the economy. I think that really rests on the fact that despite the fact were seeing this pick up in cases, theres not a widespread expectation that we go back to the lockdown that we saw in march and april. They really anchor themselves to the most recent period which was a very difficult period from an economic standpoint. Investors are continuing to look forward. They are continuing to see the Second Quarter being the earnings trough from this particular recession look
Cap. And flight path trouble. And amazon Banning Police use of facial recognition technology. It is a very busy thursday june 11 this is Worldwide Exchange here on cnbc good morning. I am brian sullivan. Thank you for joining us on a very busy thursday and one that could be a tough day for investors. On the screen,down 635 points right now. Some thinking the reopen rally may have been overdone and health data up in texas. Texas is siege about 2 to 3 daily growth in cases. Not that outline in the last couple of weeks but a slight up tick there and other states like arizona. That has got people on edge. Yield has been falling reversing a recent trend bonds will be sensitive. The fed yielding 6. 69 well call it oil prices like stock futures are down this morning. Not only any kind of growth concerns but youve got inventories growing. If virus cases do start to spike, we could see gasoline as many retreat rates will state low for years bank and financial stocks taking it on the chin wednes
Social Media Companies ylan mui has more on the story reporter the dojs proposal strikes at the heart of the Business Model for platforms like facebook, google and twitter, section 230 of the communications ccc act the first is what theyre calling the bad samaritan bill, for platforms that facilitate or solicit illegal activity, and the second specific exemptions for child exploitation, and actual knowledge of elicit activity the doj cannot do this alone they would need congress to act to change the law. Big tech doesnt have a lot of friends on capitol hill these days just today, republican senator josh hawley unveiled a bill that would remove text Liability Protections unless the Companies Promise to act in good faith or pay a 5,000 fine to users if they dont meanwhile, democratic senator mark warner said that he believes section 230 has allowed companies to turn a blind eye to a host of ills, but melissa, he also said hes worried that the doj is using these tools as a way to get Big
The issue of physical separation is important. Masks can help. But it is masks plus physical separation and when we get congregations like we saw with the demonstrations as we have said, myself and other Health Officials that is taking a risk. Unfortunately what we are seeing now is an example of the types of things we were concerned about. I would not be surprised that members of the congregation that were there demonstrating could also be infected and many of them will go back to where they were because not everyone was demonstrating in the city where they live. Theyve come from the outside. It is the kinds of things we are concerned about and unfortunately we are seeing it come true right now. When you are developing vaccines, there is never a guarantee you are going to have a safe and effective vaccine. I am confident about how well the process is continuing and the development of more than one candidate. In the testing in animals and phase one in humans looks promising making me c