1000. The airlines are taking it on the chin, first signs where so many in the industry seem to be tell of telegraphing problems, unless they get a new batch of a. The aid in march, april, may, is essentially running out. There is talk after 85 billiondollar relief package. No one agrees what it should be, when it shut be doled out. That is hitting airline stocks. Were watching that very closely. Were watching day two of the Republican Convention right now. Hillary vaughn following all of those developments for us. Hillary . Reporter neil, day one of the Republican National convention was really about President Trump and the Republican Party pitching themselves as the law and order party. What is interesting is when joe biden first got elected to the senate, he campaigned on exactly that, law and order. Every time Richard Nixon when i was running in 1972 would say law and order, the democratic mantra the response was, law and order with justice. Whatever that meant. I would say lock th
Which prevent michiganders crossing the street to visit family members. No relaxation of the social distancing rules from President Trump. Hes considering extending the keep your distance regulations into the early summer. Then theres this. Antibody tests that show far more people have been through covid19, three million in new york state, 20 of new york citys residents have had it. That means the fatality rate, the number of people who died from the virus, comes way, way down. Interesting. Quickly to the markets. Not Much Movement at the open today. Orders for durable goods in march down 14 , yeah, thats bad but it was expected. The dow is going to be up 193. I call that little movement. How the times change. We will be back to 23,500, big gain modest gain for the dow, nice gain for the s p and for the nasdaq as well. Look at oil, staying at low levels. We are looking at 17 a barrel. In the absence of demand, we are still not driving very much, we are running out of places to store al
Manufacturing, down 1. 3 million. Overall, whats striking is how fast we descended into a depressionlike situation and of course, we want to know how fast we are going to recover. White house economist larry kudlow will join us in just a few minutes. Is this as bad as it gets and whats the timetable for returning to growth . We will ask him. Before the news came out, the dow futures showed a gain of about 250 points. The moment we saw the numbers, dow futures were pretty much the same. We have now moved up a bit more. We are looking at a gain of 284 points but remember, these numbers were expected. They were already baked into stock prices. Stocks are up because investors are looking to the future, where the economys in recovery mode, and theyre looking at, what, 7 trillion worth of stimulus. That always goes down well on wall street. As we said, the dow up 280. The s p up 33. The nasdaq up 87. Lot of green despite the terrible numbers. Obviously, this is a big day for your money. Its
Futures indicating gain at start of trading. Take a look. Dow industrials up 38 points on top of rally yesterday fueled by a rise in oil prices. All the major indices higher this morning. Oil prices adding to yesterdays gains as well. Take a look at yesterdays close. Dow industrials up 456 points. Other averages also strong, oil prices this morning 1. 95 at 1573 creeping back higher on oil. Reopening the american economy, lockdown easing in some areas of the country bringing cheers to some and concerns to other including the white house. Most if not all of the economy will open later this summer. Secretary of state mike pompeo meanwhile blasting china and the World Health Organization saying they need to be held accountable for lack of transparency as the focus remains on the lab in wuhan as the origin of virus, something ive been putting a spotlight for months. Meanwhile missouri is filing a lawsuit against the Chinese Government. Attorney general eric schmitt, 7 30 a. M. Eastern on G
Scale, a storm of moderate intensity. Its expected to arrive around midday tomorrow. Well see wind gusts up to or perhaps even above 50 Miles Per Hour. Rainfall potential half an inch to an inch. Some location mace receive more than an inch of rain. A wind advisory will be in effect for 4 00 p. M. Tomorrow to 4 00 a. M. Wednesday. And during that time gusts may range from 45 to 50 Miles Per Hour or higher. There is a possibility of downed trees and power lines, and maybe even Power Outages. So during our morning rush hours, look for dry conditions. It will be partly sunny. But clouds and the Stormy Weather will arrive quickly in the afternoon hours. So for the evening rush hour, look for rain heavy at times, strong gusty wind and travel delays. Ill have a complete look at the sevenday forecast in a few minutes. Spencer, thank you so much. The storm could cause problems for drivers because we havent seen rain in months. Yeah. Abc7 News Reporter Wayne Freedman is live with that part of o