Two or three hours ago. The vix comes in from 44 to 41. There is a whole idea of an expanding pandemic all the throughout multiple geographies. There is optimism with Research Houses reaffirming some form of vshaped recovery. It is the oddest monday i can remember. Francine it is a pretty odd monday, although i have to say i have had other odd mondays. Thats get to first word news with ritika gupta. Economyin china the keeps inching its way out of the coronavirus, less industrial output rose 4. 4 percent in may from a year earlier. At missed estimates, and consumer demand is sluggish. Retail sales declined more than expected. So did fixed asset investments. The white house top economic advisers rejecting a more cautious outlook for the economy. Larry kudlow says the chancellor will be the chance will be for a vshaped recovery. He told cnn the Unemployment Rate will fall and 2021 will be another solid year. Kudlow also said the 600 a week on his payments made some americans will end jul
From the billionaire buyer about his 240 restaurants that are back in business open once again. Hell join us later. First, over to you as we mentioned, fed chair Jerome Powell testifying on the cares act today. Lets bring in steve for more. Steve. Thanks very much, kelly the treasury secretary and the fed chairman defending the programs that are out there. The critical questions being how soon will this money be delivered. Is it going to the right people and is it enough of it out there . Poul w powell was asked about the question and here is his response regarding maybe more needs to be done this is the biggest response by congress ever and the biggest from us and this is the biggest shot we have seen in living memory and the question looms in the air of is it enough. He seems to suggest that more may need to be done. Congress wanted to know where is the money they appropriated and the fed is yet to launch several programs here is graphic that may help you understand where this money
Going to prosecute. The governor calls these businesses selfish. President trump goes to pennsylvania on thursday and later on this program, we will have numbers from businesses in states that have allowed a partial reopening and ill tell you now, business is good. Moments from now, we have Shelly Luther with us. Shes the salon owner who went to jail for opening early, an American Hero on this program today. One hour from now, dr. Anthony fauci begins his virtual testimony before congress. Reportedly, he will say opening too early means needless suffering and death. The democrats will try to drive a wedge between dr. Fauci and the president. We will have, by the way, the latest on the explosive revelations coming out about what president obama was doing to instigate and set off the russia collusion mess. Turns out joe biden was in the key meeting. He was asked about it this morning. He did not have convincing answers. The status of joe bidens candidacy, the markets stunning recovery, o
Dan kerman is live in San Francisco with more. Dan. And catherine you know theres just so much planning you can do for what comes next because theyre talking about possible Curbside Pickup, we dont know how long that will be we dont know whether the virus will end up coming back whether there will be a point customers will be allowed. Inside his store so retailers are just getting ready for what the possibilities may be. Its hard not to see how the shelterinplace orders impacted businesses. Most everywhere you look the sign says closed now a glimmer of hope that some stores may soon be able to reopen. For Curbside Pickup only im hoping that the. That the mayor will follow suit for the governor, but im im happy to wait and see it on of our books on food in San Franciscos knowing dalai. Theyve been doing a lot of online ordering and shipping. But having some contact with customers even in the doorway will be helpful if they want advice about another book whats your best. Bread baking boo
Is 6 oclock thank you for joining us, im James Fletcher and im darya folsom to new coronavirus test sites are opening this morning. In santa clara county. More than a 100 people are going to be tested each day at the site weve got kron fours will tran standing by live in san jose with more on the story good morning. Well. Good morning james, im at one of those locations, im in front of james Like High School in East San Jose often north white road it will open in one hour from now i daria said they will try to test about a 100 people every day starts at 7 closes at 7 oclock at night. This is not for everyone however weve seen the site said other locations of where people show up from throughout the community in this particular case theyre starting off with a plan that only they are one they encourage people with flu like symptoms noticeable flulike symptoms to come down and First Responders those people will be the First Priority at least when they start off over the next couple of day