Which is indeed making a comeback. The latest numbers show a sharp increase in new cases, running to about 40,000 a day. The virus task force reconvenes today for the first time in two months. Some states are pausing their reopening program. That is a warning to the nations economy and the rebound. The wall street journal, this is an important warning for the president. The powerful Editorial Board bluntly said hes heading for defeat. Thats a warning for wall street, too, because a biden win would be a real challenge for stocks. So where are we this morning . Warnings duly noted. Ive got some red arrows there. The dow is down about 180. The s p down about 10. The nasdaq down about 15. Red arrows for three indicators. All right. Im going to call this a positive. Remember the mob that threatened to take down the lincoln emancipation memorial . They were supposed to attack it at 7 00 eastern last night . Well, it rained. The limited number of people who showed up retreated to shelter. The
Governor andrew cuomo ultimately calls the shots. Looks like that could be pushed back. Governor cuomo speaking to the press, noted a lost spikes in cases happen particularly in states that opened up Indoor Dining too soon. No way to verify that. The fact he wants to be cautious about that at same time he is ripping federal government response on all of this, is obviously going to get a response from president of the United States either with a tweet or something, later on. He has full throttle criticizes the federal government minimizing the entire coronavirus situation. Others middle east disagree with that. We should also say that is the latest period on june 28th. Eight deaths reported in new york state. We should emphasize that is record low number and is down substantially from the 800 daily highs we were seeing in march and april, it is still a stubborn trend that remains as do hospitalizations also going down here. The number of new cases is an issue that has come up again and
Add that to concerns over the virus caseload and youve got this. The dow industrials, down 700 yesterday, down maybe another 200 this morning. The s p down 80 yesterday, down another 20 today. The nasdaq yesterday, down 200 points. Today, down about 13 points. A sea of red ink over there. A big loss especially for the dow. 1. 48 million new jobless claims this past week. Now, thats not a good number and it pushed stock prices just a little lower when that news was released at 8 30 eastern. Now, today, President Trump heads to wisconsin. Good timing. The democrat governor there has just called out the National Guard. A protester wielding a baseball bat and bullhorn harangued a restaurant crowd. He was arrested. Molotov cocktails were thrown, the Police Needed help. Governor evers sees the light and calls in the National Guard. Same thing in washington, d. C. Hundreds of National Guard troops now marshaling. They will protect the capitals monuments. Thursday, june 25, 2020. Varney compan