To be released next week. And what could be the start of humans commuting to space its friday the 13th early today starts right now thanks for being with us im frances rivera. And im phillip mena. The breaking news overnight, joe biden has flipped arizona. In the past it seemed as wide as the grand canyon the states 11 electoral votes puts bidens lead at 290 to President Trumps at 217 putting more pressure on President Trump to concede minutes after arizona was called t president tweeted, quote, biden did not win. He lost by a lot and that earned him not one but two twitter information warnings and now all eyes are on georgia where a full hand count is under way. This has been another recordbreaking week in the war against kroez. Over 159,000 cases were reported on thursday making it the ninth day in the row cases have surpassed 100,000. And its after texas passes the 1 million mark california now joining that list the alarming data comes as the mayor issues a stay at home advisory, te
Richard we think the additional fiscal support will likely be needed. I think, it is very clear that the cares act, which passed in march was a historic government response to a historic crisis. A thrill that a 3 billion dollar package provided significant support to the economy. The economy has made a lot of progress, about 11 million jobs have returned, but there is a deep hole. Steve, theng us is portfolio manager. I wonder if you can piece those two things those two things together. It seems like there is still a rotation. Fed official after fed official are calling for more fiscal stimulus that we will not get. Steve i think we are going to get it, but not before the election, because i think it is a political football, and now you have the Supreme Court battle that will show us that will suck all of the air out of the room. After the election, or in the new congress if one side or the other scores a victory. You will get additional fiscal support. I think it makes sense, the econ
From the bloomberg terminal. A 2 trillion dollar wipeout. U. S. Equities see their worst rout in 12 weeks. Is there more to come . The precipice of disaster. Americas fourthlargest city but it may reimpose Steven Mnuchin says the country cannot close again. Plus, european banks close to Capital Requirements. Just under an hour away from the start of trading. Futureske a look at after the big drop we saw. Saw drops in asian stocks overnight. If you look at yesterdays cash a drop in the dax. 559 points. 559 point drop. In terms of u. S. Futures, we see a little bit of green on the screen. 1. 5 gains in s p and the dow. Can news on the u. K. Economy, lets get straight to that. The u. K. Economy shrank by 20. 4 . That is versus the previous month. Dropstimate had been for a of 18. 7 percent. 19 or so. It does show a stunning drop in output for the u. K. Economy during specifically the month of april. The u. K. Went into lockdown around the month of march. We are getting some other numbers
Talking about what is happening with the coronavirus and appointing Vice President pence. As he was speaking, one of the cases of unknown origin that happened in europe as predicted if you look at the treasury now, you see the 10year is yielding 1. 297 . Not negative yet. President trump speaking about preparations last night. We are very, very ready for this whether it is going to be a break out of larger proportions or whether or not we are at that very low level and we want to keep it that way he has tasked Vice President mike pence he also addressed the market response i think the stock market will recover. The economy is strong, consumers are incredible thats why we are doing well and other countries are not even before the virus our consume rp is very, very strong very powerful economically. And the president put some of the response of the dow to the democratic convection. Are you suggesting Financial Markets are overreacting here . I think Financial Markets are very upset when
Economy now is important to anchor confidence. In doing that comes from projecting really clear, decisive policies to win the economy. 50 really clear, decisive policies to win the economy. So when it comes to to win the economy. So when it comes to confidence, to win the economy. So when it comes to confidence, we to win the economy. So when it comes to confidence, we are i comes to confidence, we are seeing china struggling with that. Do you see them introducing measures to boost spending because eli would say nine months ago, it wouldve seemed unlikely. But now the barfor stimulus is much higher. Its almost become a bit of a necessary condition for them to introduce something on the consumption side, to really boost the economy around 5 this year. Really boost the economy around 5 this year 596 this year. China is already saddled with 596 this year. China is already saddled with debt, 596 this year. China is already saddled with debt, what 596 this year. China is already saddled wit