Et to start at 10 00 this eng morning with social distancing restrictions. In washington, congress is working on a federal emergency spending bill to get billions of dollars flowing again. The loan for Small Businesses ran out a few days ago. Andrea has more with the crucial negotiations happening today. Reporter americas businesses are taking a big hit. Many about to close for good. The money is out and i better stop my business. Reporter the rescue loan fund and the program maxed out days ago but help could be coming. The Trump Administration asking congress to approve an additional 250 billion. This bipartisan deal would include funding for Small Business loans, plus billions more for hospitals, disaster loans and covid19 testing. The latest report shows 5. 2 million americans file for unemployment for the first time just last week. That brings the total to more than 20 Million People who applied for unemployment amid the pandemic. Some economists that i have been speaking with our
Stores. Secondhand clothes. How customers are cashing in. And from the shocking Sticker Price for these fancy oreo cookies to the date night these offduty cops will never forget to a special music milestone. Take on me all the trending stories for your wednesday morning. Take me on take on me. Good wednesday morning, everyone. Thank you for joining us. We begin with that breaking news overnight about attorney general william barr. Yes, sources say barr discussed possibly resigning if President Trump continues to tweet about the justice departments criminal investigations. All of this comes just one day before the president s longtime friend and adviser roger stone is due to be sentenced. Abcs Andrew Dymburt is in washington with the new details. Andrew, good morning. Reporter hey, good morning. This is really all about the tweets. Last week barr spoke exclusively to abc news and said the president s constant tweet something making his job impossible and now he may quit. A serious shake
On cnbc. Im dominic chu. Im seema mody. What a big day it is. We had a massive reversal yesterday. All of a sudden its carrying through into today lets check the Global Markets this morning starting with the u. S. Futures picture were seeing quite a bit of green across the board right now the Dow Jones Industrial average will open up by 250 plus points the s p by 21. The nasdaq up by 56, 57 points lets check on the ten overtreasury note yield because it has been a very big battleground for many traders. Arguably one of the biggest driving forces behind the recent market volatility. Interest rates now, 2. 92 , multiyear highs for that longerterm u. S. Treasury note well see if that stays the game given todays other big inflation data coming out, the Producer Price index interesting that despite the rising inflation picture, stocks still ended higher we are higher premarket as well. Many asian markets are closed todayt for the chinese new year, japan did remain open. The japanese nikkei
Are with us. Lets start it off with you. This idea that it is one of the bigger sectors relatively speaking, the s p 500, but its also, remember, one of the fourth worst performing sectors so far. Say a look at the year to date losers. Interesting stories lines start to play out in terms of the particular stocks and themes drieding the trading. Kohls is down 19 and fossil, belts, watches, that sorts of thing, down 21 as well. If you take a look at some of the other stocks that perhaps are on the other side of this, you see the winners. Off price retail, tj max up 5 . Ulta budy up 10 . Lulu lemon is up 17 . The biggest one everyone talks about is one that hasnt gained a lot so far this year only up 5 year to date. Its amazon. Com. But remember, one of last years top performers and courtney, i got to sashgs one of the interesting things about this whole discussion is this idea of these stocks as melissa, i dont know if there is a theme that drives all these together. But retail definitel
Three averages posts any gain it will be a fresh record close. Yesterday, all three closed at a record for the First Time Since new years eve, 19 99. If you look at the weekly activity, even though we hit that record, all three major averages on a weekly basis are mixed. The s p very little down. And the nasdaq is up. Not much change of which is typical of what we have seen recently. The s p 500 having its the fourth straight session. Its a fourth straight session. Without a move by at least 1 . We are seeing Oil Prices Rally arabia. Talk from saudi about 44 a barrel helping to support many of the Energy Stocks in the s p 500. We have seen some strength that if Consumer Discretionary today and this week as well. Out with coming numbers that Beat Estimates on the strength of the rack. Shares of a percent. Jc parent jcpenney narrowing in loss and rising, coming line with what analysts had anticipated. This week has been strong for Department Stores probably. All the companies have been r