Flat for 2020 as tech continues to lead the gains. Financials and utilities amongst the worst performers today coming up on todays show, we will speak exclusively with sap ceo Christian Klein about his companys efforts to develop a coronavirus Contact Tracing app and what hes hearing from customers about the state of local business and the earnings reports will come fast and furiously this afternoon highlighted by lyft, grub hub, tmobile and well speak with tmobile Ceo Mike Sievert ahead of his companys Conference Calls just after numbers cross. The big stories we are watching, mike santoli following the volatile trading action, Steve Liesman with a look at the economy and another sobering jobs number today, and deirdre bosa is covering uber and lyft mike, start us off the s p struggling to stay in this zone for the past few weeks. This is a oneyear march its flattened out since april is it resting, rolling over . Its a bit of a standoff i think people are saying right now its preserve
Markets as the president suggests it could be two weeks of pain for the country. The indices are lower by about 3 apiece. We are off our lows right now. Some treasury buying on the 10 year. We had a massive build in crude oil inventories. We did see crude oil dip, but we are back at 20. 51. Inventory is the least of market worry at this point. The dollar index 99. 64, just a little bit of lightening up in liquid if the issues and the difficulties in that market. Lets go deeper into the markets and see what the dynamics are. Lets get to kailey leinz. Day, noit is a risk off doubt about it. It was the worst quarter since all the way back in 2008. Today in the second quarter, not starting off on a very positive note. Europeerging markets to to here in the u. S. , all of the Major Industries major indices are down between 2 and 3 , though off of the lows of the session. Really dire warnings about the coronavirus and he told it will take on the economy and corporate profit outlook. Those fe
Hey, connell. Cohn cohn were connell were getting hit grim milestones with the covid19 it would appear. Total number of cases will top 200,000 by end of the day. The in new york city the death toll has topped 1000. 43,000 plus infections, death toll at 1096. Now one of the issues here locally has been how to keep the firstresponders safe. If you look at the nypd, the new York City Police department, 15 of the workforce has called out sick. You know that adds up to about 5000 workers. So a little bit more than that. Over 1000 Uniformed Police officers in new york have tested covid19 positive. And some others told us they have had trouble actually getting the test or, you know, waiting a number of days to get the results back. They have to sit out on the job while they wait out the results in some cases. Similar situation at the fire department. Similar situation at ems. All of that is going on. While help is coming in on the medical side, we talked all week long about the huge hospital
Virus than in china. And india launches a search for a suspected corona virus cases after thousands attended a religious gathering potentially exposing them to the virus. A lot done in senegal but with limited access to clean water there are fears about how far infections could spread. Hello the coronavirus pandemic is continuing to spread across the globe with countries taking drastic measures to curb transmission and save lives both france and spain have recorded their highest death tolls in a single day since the outbreak began and the official u. S. Death toll of nearly 3 and a half 1000 now exceeds china its the 3rd highest global globally after italy and spain and the World Health Organization says the epidemic is far from over in the asia pacific urging countries there to prepare for a Large Scale Community transmissions a minutes silence has been held across italy to remember its nearly 12 and a half 1000 victims of the pandemic the country remains the hardest hit in the world
Give truckers more time at rest stops . First, to our top story. Wework says job cuts will start this week. The struggling Office Sharing startup said that cuts will improve efficiency and accountability. Bloomberg has learned that about 2000 jobs will be eliminated, some 16 of weworks global workforce. Ellen huet joins us with more. What do we know about these layoffs and where it fits into their broader strategy of slimming down, if you will . Effort that has been going on in bits and pieces but it sounds like based on this new memo that the executive chairman sent this morning, it is going to start in earnest in the u. S. This week. They had already been starting to have some layoffs overseas and there have been some cuts in side businesses like meetup and other side businesses they owned, but it seems like maybe this week is going to be the big time. They had originally scheduled an all hands meeting for tuesday and another part of the memo says the meeting will be moved to friday.