Not before the bears came out swinging on news that 22 states now see increase in coronavirus cases and hospitalizations, as social gatherings seem to be replacing social distancing. Ridesharing startup via found itself in the middle of the covid19 reopening whirl wind already forced to up end its entire carpool model and the uber lyft rival faces another curve in the road as the virus rears its head again, and we have a fox business exclusive on why theres opportunity versus calam ity. This is the debate over restaurants reopening rages on crowded scenes like this one leaving new York Governor Andrew Cuomo to threaten new lockdown orders. Coming up the secret weapon helping everyone with restaurants to the nfl declare victory against covid19. No wonder their product is sold out right now. And whatever you ordered online during the pandemic, theres a good bet bubble wrap came wrap ped around it as its stock charges 25 higher quarterto date. Were about to show you how bubble wrap king s
About how her organization is approaching testing, treatments and vaccines and which countries she says are doing the best right now handling the pandemic. Plus, the interim president of new yorks mta joins us to discuss a path forward for pass transit and whether people will ever feel comfortable riding in a crowded subway car again the biggest subway system in the country. Lets focus on the big stories were watching kayla has the latest on a new 3 trillion relief bill proposal. Mike diving into the Federal Reserves Corporate Bond Purchase Plan which kicked off today. Kayla, lets start with you and washington relief. We are waiting to hear from House Speaker nancy pelosi to discus what they are calling the heroes act this second wave of multitrillion dollar stimulus that now democrats say is needed to jumpstart the american economy. Pelosi has urged her conference to think big, even as many fiscally minded democrats have raised concerns b about the price tag. In this 3 trillion packag
Baseball is looking at an 80game season starting in july. Football arrives in september. Disney allowed, what, onethird capacity at its shanghai park and it sold out. While lockdowns continue, they are being challenged most notably by elon musk. Wasnt to op he wants to open his tesla plant in california. The Authorities Say no. Hes going to court and says he will move out of state if the factory stays closed. As for the market, that will open lower. Solid gains recently but a pullback so far this morning. The dow is looking at a loss of 270. The s p down about 30. The nasdaq off about 72 points. Lets get to politics. Big week for that. It is trump versus obama. General flynns lawyer says the plot to undermine the Incoming Trump administration was launched in the white house by outgoing president obama. President trump calls it obamagate. Theres a lot more coming on that one, believe me. Its monday morning, may 11th, already, and another big show for you. Varney company is about to begi
Markets. Buying in the long and in the u. S. We had a seven year auction yesterday. A lot of supply was coming online. One area you are still seeing selling is btps in italy. Oil up by about 1. 50. As we get lots of earnings sees their yum restaurants around the world largely open for business, so that is interesting. Worldwide comp sales down by 7 , better than estimated. The estimates were for down. 4 . 8. 4 . E for down no visibility really for all of these companies trying to figure out where they go from here. Into all of todays market moving news. We are about 1 3 through earnings right now. Onhabet surging in premarket betterthanexpected results. D both taking a hit. Annmarie hordern has more. Annmarie i want to look alphabet, up in premarket trading. On top of that, it is boosting shares in the nasdaq futures market. Sales came in better than last year. On top of that, they beat the street. They did suffer from cuts in marketing to do the pandemic, but the executives had a lot
Still hovering at just 16 a barrel in the futures market the ceo of the oil and gas Drilling Company pattersonuti energy will be here. That as another 4. 4 million of americans file for jobless claims in just one more week bringing the total to more than 26 million in the past five weeks. Its a stunning number well dig into it. Kelly, over to you tyler, thanks its been a volatile day in the market after the gilead report hit the requires about an hour ago. Lets get to bob for more. Kelly, i want to show you the s p 500. There may be conflicting reports about what it said the market viewed it as disappointing. T there was a very sharp drop in the s p 500. We lost about 35 points. Were now below 3,000. Thats a significant drop. Reports that the remdesivir trials were not good look at this exxon and chevron just keep chugging along although pretty low levels for them. I want to remind everybody how Many Companies withdrawing guidance theres many, many every day now. Today, we saw pulte, U