Dire projections and devastation from covid19. Were down five basis points good lineup today well speak exclusively with the cfo of tyson as concerns mount about the safety of Meat Processing plants. Plus, Mike Novogratz will join us on what he makes of Warren Buffetts comments on the airlines and market, plus, well speak with tom steyer about the path forward for america specifically, he sits on californias task force to reopen the economy along with janet yellen and tim cook. Well start with breaking news from the treasury. Kayla has more from washington the Treasury Department says it expects to borrow just shy of 3 trillion in this quarter alone to fund the expenditures outlined in the cares act stimulus and also to off set the individual and Business Task revenue thats not coming this because of that delayed deadline to say this is a record amount is an understatement the last record that the treasury saw for borrowing was the quarter july through september 2008 the height of the
Deal reshaping the storied Investment Bank, Morgan Stanley Ceo James Gorman will join us in the next hour. A mega merger, increases the projection of expenses saved and the guidance which well get into, as well. Giving up control of victorias secret selling a 55 stake to siycamore and stepping down. Well start with the deal of the day. Morgan stanley agreeing to acquire etrade valued at 13 billion. 58. 74 a share three months after schwab and Td Ameritrade announced a merger deal a lot of discussion of why not robin hood an enwhat it means for the sort of the framing of their Wealth Management business, jim. It is kind of amazing about 5 million accounts, maybe more robin hood with 10 million accounts in no time they were land speed record for accounts their success is driving everything they have the millennials. They have a different orientation. They have the easiest site to use. All hand held. Theyre racking up customers i have had robin on a couple times. Theyre the biggest threat
Not only suggesting another election date. The stoxx 600 down just over. 10 lets dive into some of these sectors as it plays out on the boards technology right at the bottom apple comes out today. We saw some caution on wall street and the sector. Some of those big supplier stocks caution on trade investors are waiting on details. Industrials towards the bottom of the boards. The light ups of some of those big names. Retail stocks trade lower. Household goods, media and Construction Chemicals are in the mix too banks, very important basket today. Going through the numbers of that Deutsche Bank at the bottom. Mixed reaction to those numbers. Utilities. Telco trading higher auto is significant basket today too with the likes of volkswagen that stock surging 7 lets go to the volkswagen news. It has cut its numbers despite reporting 11. 2 rise thanks to Strong Demand for porsche. Adding to gains. 6 higher for stock now. The group needed to be efficient amid weaker global auto demand you ne
All right. If we can get our seats. Its kind of hard to break off the conversations. Its always so good to meet people. But weve got to get back to work. We hear a lot about how dangerous the u. S. Empire is. We learn about how were making enemies overseas. We learn about how immoral it is to bomb people overseas, but theres something that we also really need to, and this is a good argument to make by some people who arent swayed by the others and that is that the u. S. Empire is a big ripoff. It costs a lot of money and gives us very, very little in return and so thats why were really pleased to bring in someone who can speak to you, been reading and wright and lecturing for a while now and hes part of the next generation of intellectuals. He spoke yesterday at our student seminar and did a terrific job, and thats Nathan Goodman who is finishing his phd at George Mason University in economics, and he is a specialist in the economic of empire. Nathan, happy to have you join us. [ appla
All right. If we can get our seats. Its kind of hard to break off the conversations. Its always so good to meet people. But weve got to get back to work. We hear a lot about how dangerous the u. S. Empire is. We learn about how were making enemies overseas. We learn about how immoral it is to bomb people overseas, but theres something that we also really need to, and this is a good argument to make by some people who arent swayed by the others and that is that the u. S. Empire is a big ripoff. It costs a lot of money and gives us very, very little in return and so thats why were really pleased to bring in someone who can speak to you, been reading and wright and lecturing for a while now and hes part of the next generation of intellectuals. He spoke yesterday at our student seminar and did a terrific job, and thats Nathan Goodman who is finishing his phd at George Mason University in economics, and he is a specialist in the economic of empire. Nathan, happy to have you join us. [ appla