Published in scranton, pennsylvania. Always a tough coal mining economy there. Scranton, pennsylvania at 15 , but you know it is much higher. Normal, andre near willech will it directly address this American Labor economy. Sequentialespite the month on month improvement we have seen, we expect to see some elevated jobless claims again in around 90 minutes. One of the main things people are looking at is the continuing claims, which are expected to tick lower, a good thing, but not that much lower. We will get those numbers at 11 30 a. M. A lot of people parsing the numbers under that, in terms of people getting relaid off after getting rehired. The u. S. Is also selling 30 year bonds. Yesterday, the auction of 10 year notes came with a record low yield of 0. 65 sent. Interesting to see whether the demand will be there for even longer dated bonds amid a deepening deficit. Heading to his childhood home near scranton, pennsylvania. Interesting he is taking a more moderate approach then so
Today about a labor picture. And the shift from a pandemic and furloughed over to a real question about job layoffs. Francine yeah. I think this is the time. In the u. K. , we had the many budget yesterday that gives a little more support to workers. If you look at most of the furlough schemes in the u. K. And what is happening in the u. S. , you can assume some of the money would run out by the end of the summer. This is the exact time to look at the permanent shift to the labor economy and what did come in two to three years. Tom we have a terrific our for you. We will talk to our guest about mr. Buffett, mergers, and acquisitions. We acquired the first word news in new york city. Ritika joe biden will call for a moderate approach toward reviving the u. S. Economy today. In his speech in pennsylvania, the democratic nominee will stay away from more ambitious proposals pushed by progressives. He plans covers several areas including a push to buy american and incentivize american jobs.
Growth play so it doesnt make sense but we will break it down. Guy we are getting some data out of the United States, wholesale inventories month on and that number has been trending lower. Trade sales coming through significantly better than anticipated, 5. 4 . The prime number was really ugly and that was 16. 9 which has been revised slightly higher but this is late data so in the rearview mirror. The claims data is more highfrequency. We got that earlier on, a little better than anticipated, lets break it down. Were looking at jobless claims coming in above one million for a 16th straight week in while it was slightly better isn what was anticipated, basically double what we saw during the first of the financial crisis. Continuing claims track the number of people claiming ongoing on a plummet benefits and that declined to the direction is encouraging. Of the hotspot states where we have seen covid flare up, texas saw a pickup in claims, arizona little changed and california dropped
From new york and across this nation today, any number of themes, but there are two front and center. The Vice President will speak in scranton, pennsylvania before ending the hour and jobless claims well over one million widely expected. All of that devolving into the layoffs here, the layoffs presumed to come and it sets us off for an American Labor economy that must be addressed. With that, the Market Reaction, as well. Jon ferro, the news flow has really been on recently and crescendos this morning into these announcements of job cuts at too Many Companies. Arethan by any standard we in a labor market crisis. There is a ton of work still to come. What we have seen from the Big Companies is they are starting to right size the business. We talked about this we talked about this week ago on the program. Companies are turning around after the shutdown and saying, we have to cut into this new world because we are not returning to normal anytime soon. You highlighted this yesterday, that
Along with facebook and twitter, new legislation removing protections from big tech. Marsha blackburn live in a few minutes. President trump is aimed to at a broad strategy to prevent veteran suicides. Well have reaction from retired marine corps gunnery sergeant, jesse jane duff. All this and more on making money. Charles covid19 cases are on the rise at least in 20 states, instead of focus on other 30 where it is not on the rise, the media taking opportunity to stoke fear. How bad is it. Vice president pence write negotiate wall street journal america is containing virus. I had a chance to meet with the Vice President on this situation and how we talk about muchneeded infrastructure programs. Take a listen. There was wall street journal editorial yesterday, you were pretty upset about the media sounding alarms over socalled second wave of the coronavirus. You think theyre off base here. What are they missing . Well, charles, good to be with you, thanks. I think what theyre miss somet