We will receive testimony from the secretary of the check treasury as required under title iv of the cares act congress has appropriated 3 trillion to protect to fight the pandemic and to stabilize the infrastructure of our economic system. A large portion of this funding is from the title iv of the cares act which has significant resources for loans and loan guarantees and other investments from the Federal Reserve with the emergency lending facilities in the states and municipalities and tribes. The title iv provided 454 billion as the infusion into the Stabilization Fund to support the emergency lending facilities that facilitated the qualities to support eligible businesses, states, local governments and tribes. And to be authorized under section 13 and to stabilize those markets but the Federal Reserve announced the establishment of the intent to establish to support the Financial Markets and businesses including some that are supported by the cares act. Last week other members of
It is an earnings trade today. We will get into that in a moment. 8he 10year yield at 50 i basis point. Not really moving around that much. Bid, pushinginy the 10 year to 58 basis points. Story today is facebook and twitter. Down 5 , a quarter of advertising revenue for twitter, even as an added subscribers. Lets get a deeper dive. Taylor riggs is standing by. Taylor mostly risk off, but tech is not as bad, given earnings are coming in a little bit better than expected. There has been a recent shift in the conversation that tech is being thought of as defensive here, holding up better than people thought. Take a look inside the terminal. A lot of the negative price action that we are seeing stems from that Consumer Spending report we got, the worst ever dip in Consumer Spending. Income and spending was weaker than expected, which means some analysts think that firstquarter gdp data will need to be revised lower as well. I want to look at what happened overnight within the s p 500. A lo
For the rest of the year well get a bunch after the bell including netflix. President trump is set to meet with new York Governor Andrew Cuomo this afternoon key relationship for the country and our pandemic response, which has been marked by tension and cooperation in the last few weeks. Well bring you that as soon as it begins. Were expecting that within the hour ahead on todays show, a key move for earnings. Netflix, chipotle, Texas Instruments and snapchat gear up for results after the close. Full coverage of those names and ana analysis of the reports when they come out. And how volatility has impacted brokers. Well speak with chairman Thomas Peterffy after the numbers hit were down 2. 8 on the s p 500 oil very much in focus energy the best performing sector today, only down 0. 6 well dig into all of that coming up for you. Mike santoli is tracking that market selloff. We have got the cohead of oil trading, ben lucker, important guest to join us to discuss crudes unprecedented vol
With their own plan on how and when to ease social distancing. California is putting together a bottom up plan, a framework for targeted interventions and easing of restrictions in the state. The government doesnt get opened up via twitter. It gets opened up at the state level. We will make decisions based on science. Reporter legal experts agree the president has no authority to lift state emergency orders. Hes defending how he handled the coronavirus crisis. Everything we did was right. Reporter now millions are without a paycheck waiting for money from washington. We expect that over 80 million hardworking americans will get the direct deposit by this wednesday. Reporter but the next round of covid19 funding is in limbo. Top democrats are refusing to sign on unless money is set aside for hospitals, state and local governments, food stamps, and in minority owned businesses that have trouble getting traditional loans. Now, speaking of those loans, Small Business loans, the government
The public. The resolution is intended to help small businesses, such as staurants, which have been hit especially hard by the pandemic. Restaurants like cassava in San Francisco can stay open by shifting to taket or Delivery Service only. Many of them have applied for federal or city funds to t rvive the crisis. W, some are facing a new hurdle. Insurance companies who say the coronavirus has not caused direct physicda loss or ge to the business property. Joining me now is you, you roy, general manager avof ca you can, thank you so much for being with me tonight. I understand you and your husband rucassava together. Tell me about the restaurant. Yes. Hi, thank you for having us. We have been on street in outer richmond, San Francisco since 2012. We serve the california, modern california cuisine. Cuently, we have been serving more mft food. Fried chicken, salmon, prime rib, that type of stuff. What we are seeing is that people holiday food. Everybody wants comfort. So, that is what we