He c. E. O. Of verizon, Hans Vestberg as we proceed throughout the hour. Francine european economies are starting to claw their way out of recession and we had encouraging p. P. I. Physician and the confident p. M. I. Jumped to 54. 8 with the services and manufacturing sectors expanding. Joining us now from paris is william, the Bnp Paribas Group chief economist. It feels like this was a good week for europe. We have the p. M. I. More than expected and the Recovery Fund. If you look at job losses theyre going to get ugly in europe. William that is a concern i have if you look at the p. M. I. Data today. What strike is that yes, manufacturing significantly and new export levels in germany are just flying but the employment series is showing that companies are under no intention whatsoever to increase hiring and on the contrary. Thats a concern. Its a concern because the recovery will depend on what households do, how much they spend and they need confidence. Alix what is going to give t
Texas. Meantime, covid19 cases continuing to rise with 4 million reported across america. But today, the u. S. Centers for Disease Control that is control is advising schools to open, after originally highlighting the risks. It added up to another down day for stocks. Joining us, abigail doolittle. Abigail a lot to digest, and you nailed all the issues. A big piece of it has to do with the big xl off, but the rising tensions with china have been the backdrop for the past two years, but really coming into the forefront here. And economic data, frankly, not right. Investors are paying attention to that. You put it together, nasdaq 100 down. 9 , down on the week for the second week in a row. Stocks hit even harder, down 1. 6 . What intel really disappointing, at lowes down 18 per soient, worst day at that point since 2000 to one Third Quarter guidance for that chip to let you talked about, and also the idea that manufacturing of their trips could be changed. We had investors going into a
Topal coronavirus cases 16. 3 million as the republicans lay out their 1 trillion plan for the next round of u. S. Stimulus. Democrats are expected to join the conversation shortly. Begins final stage testing of the Covid Vaccine is the government releases another half a billion in funding for the company. We hear from the ceo later this hour. Shery lets get you to the press conference happening right now. Senator Mitch Mcconnell presenting the republicans 1 trillion plan on stimulus measures for the u. S. Economy. You are listening to senator grassley who is taking to the podium to say what these deals will consist of. Take a listen. Adults, orey somebody elses dependent. Have additional unemployment insurance. Thats on top of whatever the different 50 states give. And on top of the Economic Impact statement i just gave. We want to continue to help the unemployed, but we want to encourage work, and weve learned a very tough lesson that when you pay people not to work, what do you expe
Republicans are now diving into each different part of this h. E. A. L. S. Act as leader mcconnell termed this deal. It stands for healthic economy assistance Liability Protection and schools. The trillion dollar package has 105 billion for schools. That is more than was in the democrats heroes act from back in may. It has another round of direct checks and it has an add unemployment benefit of 200 a week. Thats a decrease of what its been for the last several months. But Senate Finance chair Chuck Grassley just noted this is going transition to 70 of a workers pre pandemic wage over the course of the next few weeks. Senate Majority Leader Mitch Mcconnell said that the virus doesnt care how fragile the economy is, but that the u. S. Is not write a blank check. It needs to be tailored for these specific times and crossroads. But democrats are already saying its far too tailored. After mcconnell took the floor, Senate Minority leader Chuck Schumer said there needs to be Food Assistance f
China sea. Coronavirus cases are in the u. S. Florida passes new york is the second highest state after california. Gold futures had a record, beating levels last seen in 2011. Sasol are plunges. Lets take a look at how export thesis shaking up when it comes to the start of trading here in asia. This is what we are seeing when we are seeing futures. U. S. Stocks fell for a second day on friday. There is a faltering sense of recovery in the u. S. This is expected to focus on unemployment insurance. Pelosi has called that passage contracted the futures is down by a 10th of 1 . Japanese stocks coming back online. Mildly positive. Sydney futures extending losses down about a half percent. A flat start to the cash trading session. Lets take a look at gold. That is always the been the story. Gold prices are not looking too far behind. General concerns about where the Global Recovery goes from here. Global virus cases have exceeded team. 1 million while there are signs the virus spread is slo