Upping its offer for an aid package to 1. 8 trillion, President Trump tweeting go big a positive development on the covid treatment. Gileads treatment helps infected people recover five days faster than average and tech stocks are outperforming as a massive deal is in the work the week capping it off with a bang. Absolutely. The russell 2000 is up 6. 4 for the week the dow is currently positive for the year as a whole, just. Lets get to the stimulus news in washington and the reaction to it. Bob basketball has a look inside the market rally ylan moi, and Dana Peterson from the Conference Board bob, lets start with you on this very nice end to a strong week. Good news and bad news, will. Good news is, s p is up about 3 on the month the bad news is i am seeing a little bit of an inversion of the stimulus play today. Thats concerning if you are a believer in stimulus remember the stimulus play, bicyclicals materials and banks and industry and energy and go light on technology. That was wo
Later, a Bed Bath Beyond stock handing in one of its best days ever one of our traders says it could be headed even higher from here. We start with a developing story out of washington. The next round of coronavirus aid apparently hanging in the balance. Lets get right to it with ylan mui. Reporter the house has begun debate on democrats 2. 2 trillion relief package with a vote expected later on this evening. Five Straight Days of negotiations between the treasury secretary and the speaker of the house nancy pelosi have failed so far to produce a compromise the white house has propose aes 1. 6 trillion bill but those numbers are still far below what democrats are willing to accept. Pelosi also pointed to business and child tax credits as another major Sticking Point in a statement her office said that the two sides discussed further clarifications but distance on key areas remains. Chuck schumer put it even more bluntly. He said, they are not in agreement yet and there are lots of area
Delays. Pres. Trump know, we did not do that at all. I want the post office to run properly. They are going to need more money if they are going to take intensive billets of ellis tens of millions of ballots out of nowhere. It is a part of the bill that the democrats dont want to make, because they want a trillion dollars to go to states that are run by governors who happen to be democrats, who have not done a good job for many years. Those are states that oa lot of money and need a lot of money, and they are talking about 1 trillion. The post office and the 3. 5 billion for the boats themselves. The votes themselves. Think about that, 3. 5 billion for mailin ballots. Shery President Trump right now giving a press conference at the white house. He is addressing questions about usps funding. Together thoseut two issues of mailin ballots and giving that funding for the u. S. Postal services. A proposed 25 billion financial lifeline. But china, saying the u. S. Would call with china about
Come up with a forced him is round is having an impact on the markets. Walmart senator warren say that the retails sales cut slowed last month as government released ease. Barclays is using the recent coin shortage of the gauge of economic reopening. Seeing evidence of a recent slowdown. Not to be too much of a Debbie Downer on the record close but is there something to worry about . Joe we got a be really listed. This is an extraordinary market come back we got a be realistic. Yes, there is no deal yet in d. C. But people have been warning for a while that this or that was going to end this rally. And it has not happened. So, the second wave in all this stuff. And the failure to get a deal is supposed to kill this rally. Has not happened yet. That being said, there are several reasons to be concerned, that people should be wary about including walmart today. For more, joining us now is senior retail analysts jennifer of bloomberg intelligence. Thank you very much for joining us. When
Situation that we are in right now . Guest thanks for having me. What we are seeing happen is as a reason region starts to pull down, a new region heats up , and i think we are in this position because we have a lot of advection all around this country. We reopened not just early but aggressively, and that instigated more spread, and now you have a situation where there is just so much infection that to otherng to get parts of the country. The sunbelt is starting signs of improving. Places like texas, florida, southern california. Those states,s in particularly arizona and texas, when you look at the data. It is a little less clear in texas and southern california. At the same time, we see infections pick up in other states, kentucky, indiana, illinois, georgia, ohio, indiana, so the gains that we are making in the states that look like they are starting to peek will now be offset by the other states that look like they are accelerating. Host why are they slowing down and the sunbelt s