3. 5 . The s p, a similar gain, about 2. 5 there. And the nasdaq composite up just with over 2 . That is clearly a rally. Helped by the Federal Reserves bond purchases, thats money printing, a report from bloomberg on a possible trillion dollar plan for bridges, roads and 5g access in rural areas, thats the stimulus plan, a new one. Also helping, really helping, news from an Oxford University study, a breakthrough in the treatment of the virus using steroids. It significantly reduced mortality. We also have the rapid opening up of businesses all across the country and maybe an improvement in u. S. china relations. Mike pompeo meets senior chinese officials in hawaii tomorrow. And then theres this retail sales in may up 17. 7 . That reflects the partial reopening of some stores. It is a very strong number. The president just tweeted about it. Ill read it for you. Wow, may retail sales show the biggest one month increase of all time, up 17. 7 . Far bigger than projected. Looks like a big
[moment of silence] [moment of silence] [moment of silence] [moment of silence] [moment of silence] [moment of silence] [moment of silence] [moment of silence] neil we have just completed what is one of the longest moments of silence ever recorded on the floor of the New York Stock Exchange, 8 minutes, 46 seconds to indicate aicers knee before he ultimately died two weeks ago. This being simultaneously recognized around the world as exchanges in towns, protests all stopped in their tracks to honor the victim who is now become a cause and a big cause at that. Already we heard from new York Governor Andrew Cuomo says hopes to move rapidly on legislation that will reform the Police Forces in the state of new york. There is a similar move afoot to do the same on the federal level. Some going so far as to advocate totally defundings Police Forces all together. They are a minority of the Progressive Movement but a powerful and vocal element within that call to change business as usual within
Results for its vaccine, phase one trial in humans. Weve got a lot more on this coming up in just a moment. But this is a very positive development. When this was announced the stock rally that had already been in place gained a lot more ground. One more positive indicator for you. Thats the price of oil. We are back to 32 a barrel. We are driving again, we are emerging from a lockdown, demand for gas and oil up and up goes the price. Key indicator. Now, look at this weekend. All across the country, people were out and about, enjoying the weather and enjoying their freedom, too. There has been some relaxation of lockdown rules in 49 states. Connecticuts the lone holdout. They open up in just a few days. Bottom line, the economy is opening up and in most places, people feel willing to shop, eat out and socialize. Its hard to see how the authorities can reverse course and clamp down all over again. The genie is out of the bottle and the Moderna Vaccine news is the icing on the i can kcak
Thing back. In the new york, new jersey, area, some promise that the worsthit states are at least pondering openings as soon as tomorrow. The very latest read on all of this from jackie deangelis. Hey, jackie. Reporter neil, as reopenings continue in slow phases across the country, reminder this mornings weekly jobless claims added three million more people to the list of unemployed. The number was higher than expectations but it was lower than it was last week. So that was positive. Remember the total number of jobs lost in eight weeks, more than 36 million. That is a backdrop here. That is why reopening is so important. The sooner the country can do it, the more people can get back to work. Now in florida universal orlando is partially reopening today. The citywalk portion is going to be on reduced hours but masks are a must. There will be temperature checks. On may 20th, the plan is to open disney springs. That is where the shopping and dining complex is. The rest of the park is clo
Least a gradual return based on local conditions starting in may. Now, in michigan, protests are expected today and that states strict stayathome orders are in question. Thats going to be an indicator of public sentiment after weeks of lockdowns. On the international front, china is now very much in the spotlight. Frankly, its a target. The president s cutting funding for the World Health Organization. Mr. Trump says the virus could have been contained in china if the w. H. O. Had been more honest. And senator cotton and congressman gallagher introduce a bill today that would end americas dependence on chinese drugs and pharmaceutical ingredients. The virus is clearly changing the u. S. china relationship and everything else, of course. On the market, it is all about back to work, when, where and how. On hopes of a return to work, the dow has moved up close to the 24,000 level. It had dropped to 18,000 level last month. The dow was up 500 yesterday. Looks like all of that gain will be