Revived trade war with china this time, the chinese are threatening to label some of our best companies as unreliable, meaning they wont be able to sell in the peoples republic. Then we got some mid retail Sales Numbers that werent just bad. They were grapes of wrath bad. But just when it looked like it would turn into a the buyers came right back. Plus, all sorts of Companies Keep reporting and telling us that april was much better than march, which bodes well for may. S p advanced 3. 9 . Nasdaq gained. What a turn. Now, that in mind, whats on tap for next week . Well, first, im dreading well come in on monday and hear about an escalation. The president s new containment strategy against china the market got hit earlier today because we are getting tough on huawei, the huge Chinese Company that the white house views as an unofficial farm of t unofficial arm of the communist party. There is a legitimate concern and if we give it to them, it is a security risk. Okay it its something he
For the country and the economy with ian bremmer who says we should be thinking in terms of three years. Plus, well speak with Kevin Durants Business Manager about the lockdown of the sport. 59 minutes left of trade iing. Lets focus on the big stories mike is tracking todays Market Action near the highs of the session. Phil lebeau watching boeing dragging down the dow. David faber covering the executive shake up at at t and kayla on the latest round of government stimulus. Mike, first you on what were seeing slight gains, still lower on the week an upward drift here in the afternoon, but as you suggest within the range, obviously just consolidating r very, very big really historic magnitude of a rally we saw during march. April rather weve come right here, 28 20s is an interesting level in late summer its kind of rushed up last summer we were afraid of some kind of perhaps tipping into a mild recession. Here we are looking at a vastly worse recession. The earnings picture is very opaqu
Hard to make anything of any positions being taken into the weekend, were something good or bad can end up happening. Time for todays market moving news from brussels, as well as our new york teams. Europe, approving a shortterm deal. Ombergs part two bloomberg spoke to germany z for president to spoke to germanys you for germanys ifo president. If things shut down again because there is a second wave, that is catastrophic for them, so that is something that needs to be avoided. Maria tadeo joins us now. Maria european leaders met yesterday. They came up with a shortterm aid package, but the question is what we are going to do over the long term. Get any clarity yesterday. That is being reflected in the Market Action today. Any specifics on the amounts. Theres suggested that it could be one trillion euro up to 1. 5 trillion euro. Some argue this should be done through transfers. The countries that are on the weakest right now would say they want to see the bulk of it being done in tran
This rally is coming after the Senate Approved a record two trillion dollar plus relief package but well have the latest from capitol hill, what it means for Small Businesses. What does it really mean for you . Well have all that and a lot more, coming up on making money. Cheryl we start with one of the reasons the market is powering higher. The Senate Passing the massive 2 trilliondollar coronavirus stimulus bill overnight after days of deadlock. It moves to the house and then the president s desk. Hillary vaughn with more how the bill could affect you at home. Hillary, a lot of wrangling to get here . Reporter thats right. House Speaker Nancy Pelosi said she had to do jujitsu to get where her caucus would support it. It gives cash directly to americans. If you give up 75,000dollar a year, youre a single filer. Direct payment of 1200 a couple, making combined income of up to 150,000 youre getting two times that but americans waiting for the money have to wait on the house to pass the
New year on january 25th and with more we bring in lauren fix the car coach so lauren we come into year and these are some very Ambitious Goals that set for themselves and in the past houses performance didnt really give us any confidence and analysts now dont have any confidence in their execution for 2020 they predict that the shanghai factory probably wont be able to make model threes in high volumes many a 1000 cars per week until mid 2020 so what do you think. I agree with ed i know initially theyre going to be delivering 15 cars by the end of the years we can say that he delivered cars in 2019 thats more of a publicity stunt than anything else but in reality initially must consider going to produce 3000 cars a week which is not possible and its not fully automated like he had stated they still need manpower which is really good because that means jobs but i think were not going to be talking about a 1000 units a week until youre right about the middle of the year we also have to