The session, sara. Come back after two down weeks. Coming up on the show, tech investor Roger Macnamee is with us and gold strengthens, the dollar weakens and home body stocks outperform well break down the trades and themes in a few minutes with David Rosenberg. Lets focus on the key stories mike santoli watching the bounce back rally meg tirrell as the president participates in a Coronavirus Briefing and the other big Market Driver this afternoon, the stimulus negotiations in washington new details expected this afternoon. First to you, mike yeah. Sara market really is a bounce in large tech stocks that is carrying the s p 500 to the high end of the recent range. Pretty well mixed market under the surface. Those big nasdaq themes carrying we spend most of the day, interestingly enough, almost exactly at those early june eyes we were looking at for a while not sure there is any particular reason we have to sit there. 3232 is that level basically that, is where this nasdaq rally has ta
I hope my colleagues, witnesses, and viewers are staying healthy and safe. I want to thank chairman pain and Ranking Member kane at the Emergency Preparedness respond and Recovery Committee for coming together with the Ranking Member and me to hold this hearing. We are here to discuss federal and state efforts to procure critical supplies in response to the coronavirus pandemic. I want to acknowledge the federal Emergency Management agency, which was put in charge of the federal governments response, was asked to testify today. Fema is not here today, but i understand there is an administrator to appear before the full Committee Later this month. Im pleased to hear this, because its vital we Work Together to address this challenge. I look forward to meeting with administrator gaynor soon and hearing what administrators have to say to form the discussion. Theres no denying the coronavirus pandemic has presented unparalleled challenges. One of the greatest challenges has been procuring a
That is a 9 increase over the last two weeks. We got close to 8 last week, so these numbers can change very, very quickly, again commenting on her personal behavior. Sum total of which will determine the direction of the lines on this graph, and ultimately our ability to reopen this economy and get our schools back open as all of us so desperately look forward to. Governor newsom said today the states testing average is now up to 124,000 tests a day. Well, San Francisco malls are closed once again today after reopening their doors just last month. Christian, city leaders are saying this is necessary to try to contain the spread of the virus . Thats right. City Health Officials say too dangerous rite now, the potential spread of coronavirus indoors is simplely too dangerous right now to keep those malls open. Reporter the cities malls have once again closed their doors. The majority of the businesses inside the west field center are once again shut down. The Health Department explaining
Livermore at 63 right now concord and fairfield youre at 65 while berkeley San Francisco in tehran. Still holding on to the 50s later today, San Francisco rises to the upper 60s oakland low 70s. While san jose in the low 80s. Daria. Thanks a lot john california is shutting down again the governor Just Announced a major step. Back in reopening the economy ordering all counties to close indoor operations. But the restrictions are even tighter for the counties that are on the States Coronavirus watch list and there are some in the bay area. Area Stephanie Elam has more. This morning, los angeles on high alert and on the verge of a complete shutdown weve never had as many people infected or infectious. Weve never had as many recorded positive cases each day. And weve never had as many people in the hospital Los Angeles County reported nearly 2,600 new coronavirus cases monday. As california added more than 8,300 new infections. The same day governor Gavin Newsome taking action. Closing ind
New claims actually rose. And 17 Million People are still drawing Unemployment Benefits. I believe thats a negative for the overall market. Get to that in a second. Look at this. Amazon, apple, google, facebook, the day after the top executives took a pounding from the politicians, these stocks went up during those hearings. They are down in preMarket Action this morning. Hold on. All four of these giants will report their earnings later this afternoon. This is big techs big day. My opinion, these Companies Need blowout numbers to sustain their very lofty stock prices. Watch it unfold at 4 00 this afternoon on this network. Overall, i got a lot of red ink to show you. The dow is looking for a loss of over 300 points, down maybe 40 for the s p and off 131 on the nasdaq. Heres one of the negatives thats hurting the market. Emergency virus relief. It runs out in 24 hours. Congress is divided over how to replace it or extend it. Investors want more stimulus but theyre not sure they are goi