Giving a lot of insight well be bringing you results apple, amazon, alphabet and facebook all report their earnings coincidence those four Companies Make up about 16 of the s p 500. Worth about 5 trillion combined and come a day after the heated antitrust hearing. Wolf, this is a good read in for you. For sure. There was meant to be three of those. Facebook got moved from yesterday to today after that hearing. After the close, we are waiting for two economic reports it is thursday, that means weekly jobless claims. Another 1. 4 million filed for the first time last week the first read on Second Quarter gdp. The economy likely contracted by 34. 7 . Both jobless and gdp due at 8 30 eastern time you look at those numbers down 34. 7 from the estimate we know it, weve been hearing from companies and what has been happening. Thats a lot of news to digest ahead of all of these reports. You are watching futures under a little pressure. Lets look at where things stand now. Dow down 206 points,
Stocks will surge when this is over. Now look at this. An overnight tweet from the president. Quote, the United States will be powerfully supporting those Industries Like airlines and others that are particularly affected by the chinese virus. Big bucks coming. The president is clearly on board with the rescue plans that deliver trillions of dollars to industries and individuals. Who gets help and how its delivered, thats going to be hotly debated but there is a new sense of urgency to push that money out there. Here are the latest virus developments. Todays primary in ohio has been canceled by order of the governor. Primaries in florida, arizona and illinois will go ahead but the results are likely to be skewed by what may be a low turnout. Mcdonalds will close its dining rooms. Takeout and drivethrough okay, but no eating in. Chickfila, starbucks, they are encouraging takeout. The Kentucky Derby has been postponed. Very tight restrictions around the San Francisco bay area. Residents
Learning the details of the scope of all of this, this is a plague on the streets and in homes around the metro area. Jamie leary has just stepped out of a News Conference to talk about what they did. Reporter all of those agencies were in attendance to tout this incredible discovery including a lot of the undercover agents who had an inside hand on this seizure. The total amount of heroin collected, 47 pounds. That is not all seized. They also seized numerous handguns, assault rifles and ammunition and other drugs. The operation began in august 2015 and was dubbed the nickname of the main man behind the distribution ring over a series of wiretaps. He had a home in Douglas County where he was finally arrested in july of this year. On many different suspects. The Colorado Attorney general spoke this afternoon and broke down the seizure by the numbers. 17 individuals have been arrested so far. 14 in colorado, two arizona, one in california. Law enforcement has ceased 47 pounds of heroin
Decision. And seth marion is here over worries about characterizing volatility. Jon lets get a check on the markets for you. Futures positive, dow futures up 41 points. Over in europe, after the gest weekly drop since euro weakness, switching of the board, eurodollar was on a fiveday losing streak. 1. 1389. In there at and then nymex crude, up two full percentage points. It is seen as a tussle between the news over the weekend, the new oil minister in saudi arabia, and what is happening in canada with the wildfires spreading over there. I want to go live to the city of london and get the latest with bloombergs will kennedy. Lets talk about the immediate the spread of the wildfire, the reality that one Million Pounds of oil a day, production, has come off. How shortterm is this . That is a very good question. At the moment, it is a Million Barrels. Even if the fires calm down, which it looks like they are doing, it will be at least a week before they get back online. Many thousands of w