Texas, louisiana, mississippi, alabama, florida, georgia, tennessee, and South Carolina. D South Carolina. My administration will do Anything Possible to help those communities get back on their feet. We are speaking with the governors and representatives. Fema is already on its way. We got there as soon as we heard the word, i said get out there. You know the great job fema does. It is something very special. , warmestant to say condolences and we are with you all the way. It is a tough deal. Level five, that was a bad group, that is as high as it gets. A bad grouping of tornadoes. Something that is something incredible, the power, the horrible destructive power. America is continuing to make critical progress in our war against the virus. Over the weekend, the number of daily new infections remained flat nationwide. Hospitalizations are slowing in hotspots like new york, new jersey, michigan, and louisiana. This is clear evidence our strategy to combat the virus is working and that a
Orders thats weighing on the dow nasdaq about 4 itself today s p up about 3 , sara. Weve got big news coming up on todays show. Wells fargo ceo joins us to break down the Small Business loans and impact of pandemic on the bank then later, well speak exclusively with the ceo of Carnival Cruise lines as a they take a huge hit. Carnival shares down about 75 this year. Well have the ceo if and when the industry can get back on its feet with 59 minutes left of trading, lets focus in on the big stories. Wilfred has the news on the Bank Earnings meg with the treatments and vaccines and Steve Liesman wi k34e7b9s from two fed officials. Gl they had opened hirer this morning, jpmorgan and wells fargo. Provisions for potentially bad loans spiked 8. 3 billion for jpmorgan, 3. 8 billion for wells fargo. Even that was not the worst case the ceo said could be higher over the next several quarters relative to what we took in the First Quarter while Charlie Schaffer said it wouldnt surprise me to conti
Projections for 2021 are also being revised down. And, where it all began. China has lifted travel in wuhan, ending 11 weeks of a lockdown that disrupted the lives of millions of people. Shery happening right now, President Trump speaking at the white house, talk about how he is handling the virus outbreak, saying he will ask congress for an additional 250 billion. Take a listen. Pres. Trump it was a big, important thing. We are looking to have far fewer deaths than originally thought. I think we are heading in that direction, but it is too early to talk about it. I really dont want to talk about it now. Doingk that people are an incredible job. The doctors, the nurses, the firefighters, the police. All medical people, the bravery they are displaying is just incredible. Every citizen should take nd selflessness and all the courage and compassion of our people. The people that are working, and construction workers going into hospitals, knowing nothing about this problem other than it is
Good morning and welcome to the show im dominic chu live at cnbc global headquarters. We begin with breaking news as stock futures indicate what could be a losing start to the day after the long holiday weekend. If these futures losses hold into the opening bell for regular cash equities trading, the dow would be opening by down by 300, the nasdaq off by 28 and the nasdaq down by 100 as well this selloff after an historic week for wall street the s p posting its best weekly gain on a percentage basis since 1974 the russell 2000 Small Cap Index posting its best week ever and as of this morning, the dow, s p 500 and nasdaq are all less than 20 off its most recent record or 52weekhigh levels. Turning to the bond mark, the twoyear treasury yield ticking higher, 23 below basis points. The tenyear benchmark treasury note yield a little below 74 basis points or 0. 74 . Well just take a look at the 30year long bond, 1. 35 the last trade there to the Energy Markets now and the group known as op
Not a surprise if you look to see whats happening with the shutdown of the economy, the forced shutdown because of coronavirus. Taking a look at the tenyear this morning, it looks like that is yielding about 0. 735 at least on the last time i looked at the boards it was. And then wti is the other big story today. Joe also mentioned opec plus deal it was an historic one opec and other nations agreeing to cut Global Oil Production by onetenth. Well talk about this in a few minutes. Wti is up by 1. 5 to 23. 11 a barrel. We have a huge lineup of squawk newsmakers including Mohamed El Erian, Richard Preston and dr. Scott gottlieb starting in a few minutes. Andrew thanks, becky hope everybody had a great weekend. Lets bring everybody an update on the pandemic. Of course, the number of confirmed cases in the United States now more than 557,000 and the death toll is more than 22,000 there are 190,000 cases in new york state with more than 9300 deaths that means new york alone has reported more