Last week. That means 38. 9 Million People have been thrown on to the unemployment lines in the last eight weeks. 38. 64 million to be precise. The only bright spot is the weekly claims have consistently come down. That implies that the layoff trend has already hit bottom. Heres the markets reaction to all of this. The dow at the moment is on the down side but not much by. Youre looking at 60 points lower. Youre looking at the nasdaq down about 16. Small losses across the board. Helping the market, astrazeneca, working with Oxford University, they have announced progress on a vaccine. They will do phase three trials with 30,000 american patients in july. If it works, they say they could deliver 300 million doses by the early fall. Then weve got three stories about open up and open up now. 600 doctors delivered a letter to the president outlining the Severe Health costs of the lockdown. They call it a mass casualty incident. Open up, they say. The front page of the New York Post blares
Comes with some of these medical breakthroughs that could yield perhaps advances that lead to people moving around, feeling more comfortable, boosting a little bit those stocks that have been most beaten down, morgan absolutely. When youre talking about reopening, you have names like disney that are moving forward with plans or some plans in florida, you have names like apple beginning to open more Retail Stores in the u. S. As well also crude is one to watch and carl just mentioned it, the fact that were seeing a bid for crude. Wti the june contract expires tomorrow and what a difference a month has made as you have seen production numbers start to come in and started to see some of the driving demand return as well gas prices at the pump up by a couple cents in the last couple weeks as more and more people are starting to come out as we start to see more of these reopenings, but, of course, longer term, as we continue to talk about over and over again, its going to be what does the t
Likely it is that huawei will get those licenses and the department of commerce wouldnt say specifically they wont get any licenses, they said they will review those on a casebycase basis you can imagine given the administrations crackdown now its going to be difficult for huawei to get any of these licenses from the United States to use this type of technology back over to you. Eamon, its jon what this seems to me to be is something that introduces a lot of uncertainty into the Semiconductor Industry in general. I mean if you look at chip equipment suppliers, if they cant supply technology to one of their major customers, that has an impact on their ability to make money. It has lots of follow on implications down the line is it your sense that the administration is taking an initial stance and looking for room for flexibility and to negotiate or is this something theyre going to push forward in the Semiconductor Industry has to brace for well, we dont know for sure, jon. This is a pi
Restrictions, giving us clues as to how consumers may react durables down 14 june wti holding at 17 as energy is the only positive sector for the week a lot of discussion about 2,800, are we range bound where is the ceiling now markets giving all kinds of important clues. A lot of analysts, we follow them for a long time they wait and wait until theres a moment where they can go negative theres enough companies that have done well, i have every piece of research in front of me i dont have an upgrade. I have downgrade, downgrade, downgrade. Because the stocks have run, it gives these analysts a chance to say, uh, im so lucky. It went from 29,000 down to 18 it bounced back, and now i can get off and not look bad and thats the whole tone of this morning i find it curious. I think that in general the companies have done a pretty good job just they like to pull their forecast because who the heck knows. If dr. Gottlieb doesnt know what will happen, why should he expect these guys to know wh
Californias new reopening rule. And we know the nations meat supply has taken a terrible blow from covid19 but what about the Fruit Industry . Berry picking season is upon us, and the president of driscolls berries is here on how the outbreak changed his farmtotable supply chain and we have a very special Family Affair in this hour, gastrointestinal gastrointestinal it gas Charlie Gasparino and ir joined by the real stars, and the top Infectious Disease expert and charlies brother dr. Jamesgaspa rino is in the thick of the covid storm and in a very special interview with charlie and me they will both share their knowledge and stories from the frontline and the global battle against the deadly coronavirus and well ask which drugs and therapies work and which didnt and when do they think its safe for all of us to return to the workplace with less than an hour to the closing bell on this friday lets start the claman countdown. Liz and speaking of drugs and therapies we have this breaking