Claims came in better than expected, 709,000 signaling more improvement in the labor market. And treasury yields dropping sharply following yesterdays bond market closure. Thats putting pressure on banks, which are among todays worst performers though still strong performers for the week 59 minutes left in the session, sara every sector firmly in the red. Ahead on todays show, chipotle unveiling its first ever digital only restaurant this week without a dining room or a line for ordering we will speak with the ceo brian noccol about the strategy there. And Jeremy Grantham said he thought the market was a mccoy bubble we will get an update on his that it is since those comments. Disney, pal an tear and cisco reporting after the bell we will bring you the numbers as they happen. Mike, whats the market dealing with. Contending with worries pileup of news on the shutdown, on the virus, maybe getting worried about what growth is going to look like in the First Quarter or two the s p 500 was
Right in. And we leave the program with the International Monetary funds announcement that the Global Economic downturn due to the corona virus pandemic will be worse than initial estimates. So compared to the april and Economic Outlook we are projecting a depot downtown in 2020 and a snow to company in 2021 to growth to 2020 is projected at minus 4 point one percent which is 1 point one percent is points below our april focused now this reflects the fact that in the 1st tough economic outcomes came in somewhat worse than we had anticipated and because there is no medical see you should we are expecting social distancing to persist for more for a long time into the 2nd half. And downgrading the growth forecasts for 2021 the i. M. F. Expects a growth rate of 5. 4 percent instead of earlier estimates of 5. 8 percent the fund is predicting an 8 percent contraction in the United States. Gates in 2020 while the eurozone economy will decline by 10. 2 percent brazil will take a 9 point one pe
We have so much to get to so lets dive right in. And we lead the program with renewed concerns about a 2nd wave of corona virus infections as the World Health Organization reported a Record Number of new cases sunday. Yesterday more than 180. 00 times in new cases of quote good would be pulled to 2 w 2. Is really the most you know a single day so far. More than 8800000 cases 7 now been reported to joe and more than 465000 people have lost their lives some countries are continuing to see about getting increasing cases and as some countries that have successfully suffers transmission are now seeing an absolutely. Open theres websites and economies. There as we just heard this marks the largest daily increase since the start of the outbreak according to the w. H. O. Brazil had the highest increase in new cases followed by the United States and india the w. H. O. Director general also spoke about the need to maintain measures to limit the spread of the virus while the world attempts to res
We have so much to get to so lets dive right in. And we lead the program with renewed concerns about a 2nd wave of corona virus infections as the World Health Organization reported a Record Number of new cases sunday. Yesterday more than 180. 00 times in new cases of quote good would be pulled to be too. Easily the most you know a single day so far. More than 8800000 cases 70 be pulled to 2 w 2 and more than 465000 people have lost their lives. Some countries are continuing to see about getting increasing cases and as some countries that have successfully selfless transmission are now seeing an absolute. Open theres websites and economies. There as we just heard this marks the largest daily increase since the start of the outbreak according to the w. H. O. Brazil had the highest increase in new cases followed by the United States and india the w. H. O. Director general also spoke about the need to maintain measures to limit the spread of the virus while the world attempts to resume som
Major amples we saw a surge in cases for example, in other parts of the country that had not been as hard hit jim, i can go through a list of things this morning that perhaps would give investors pause in a different environment, whether it be beijing, and the recent closure of schools there as they deal with a surge in cases it is only 137 but nonetheless. Flights also there we will get the update from beijing. Layoffs at the likes of at t or hilton quest giving us gooit guidance that still speaks to the weakness of that business. Yet here we are with potentially another rally in store a half hour from now. David, all of those things you just mentioned were things that maybe we expected to happen im looking at 25 pieces of research that i have sent to you in synopsis, the vast majority of them are raising price targets. Why . Because the targets were slashed before we knew that the Federal Reserve was going to back stop all of these companies so the Federal Reserve is saying if you ar