Confirmed cases. The country has extended its state of emergency through may 9. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. In new york, 1 00 6 00 in london, 1 00 a. M. In hong kong. Im vonnie quinn. Welcome to Bloomberg Markets. Here are the top stories we are following from around the world. U. S. Stocks are raising gains from what has been a recovery rally. The s p 500 was up almost 2 but losing ground now on a ft report that gilead, maker of remdesivir, may not be as effective. Jobless claims rising by 4. 4 million last week but a number coming in slightly less than expected. Total job losses now top 26 million in the wake of the coronavirus outbreak. In a few minutes, an exclusive conversation with the former National Economic Council Director gary cohn. You dont want to miss that. Lets get a quick check on the markets. 8 , p 500 is up just giving ba
December as investors await their g. D. P. Numbers out. And that is what you need to know. David for more on those g. D. P. Numbers, we turn now to carl, chief of u. S. Economist. So we have five quarters of slim pickings. What are we looking forward to . Its growing at 3. 3 five quarters ago. Now were growing at 1. 3 which is below the feds neutral growth separate and thats problematic for the economy. Consensus going into todays number have steadily deteriorated over the course of the quarter from north of 3 , 3. 5 well say at the start of the quarter down to only 2. 6 . And i think theres a risk maybe that Consumer Spending which was the major Growth Engine in q2 could fire on a much softer level in the Third Quarter. Alix inventories. We saw it drop on the Second Quarter which is unheard of when youre not in a recession. When is the payback for that . That subtracted about 120 basis points off the headline growth figure. And the expectation was well, that will turn into a significa
Three new jobs in the u. S. Each year. Maria contrerassweet is the administrator of the u. S. Small business administration. She joins me in studio. Good to see you again. The april employment report is out tomorrow. What role does or should Small Business have in job creation in this country . Right now we are experiencing Small Businesses creating two out of every three and that jobs and employment half of the workforce. They are contributing to this 61 months of consecutive job growth them have experienced in the country. Cory you are traveling mark you are traveling the country this week. What are Small Business owners tell you about their success and 80 do they see do they see the government as a hindrance or a help . They are funding the Global Economy is available to them. We will be adding 2 billion middleclass consumers and they want to benefit from that. So we are talking trade these days. Mark what are their Major Concerns . There is a Small Business woman who sells gluten f
Great to have you here. Time for theis newsfeed, the top stories from around the world. In india, a historic defeat for the family that has governed the country for most of the past several decades. Outsition bloc led by modi that the congress party. Raul gadhi conceded defeat. Modi promised overhaul of the economy. Uber in talks that could end up tripling its valuation. According to people familiar with the matter, it is trying to raise more money in a round that would value the company more than 10 billion. Uber thus far rolled out its service in 115 cities around the world. Los angeles clippers owner Donald Sterling is fighting back. According to sports illustrated, he reportedly told the nba he will not pay the fine from last month and may sue the league. Nba banned him for life for racist remarks. Leagueow shot the itself cannot force them to sell the clippers, only the owners can. It is amazing, his resistance on this. Really interesting to see if he will succeed in fighting that
Your watch him in his, our life from a headquarters in del, how im getting an obligation coming up in the next 60 minutes. Former u. S. President donald trump says he wont oppose the release of the f. B. I warrant used to search his florida home supporters of iraq, his she, i, leader, move to the southern are back in large numbers outside parliament, demanding early elections. The u. K. Is expected to declare a drought, as temperatures continued to soar, and millions suffer from the lack of rainfall. Cows under quarantine, indian cattle farmers, race to control and outbreak of a potentially devastating disease in sport that has 100 days to go into the faith. A wildcat begins in cat footballs. The shape piece is getting underway a day earlier than originally planned with the house kicking off the tournament against ecuador on november 20th. Ah, ah, welcome to the news our, the former u. S. President. Donald trump says he wont oppose the publication of the war, and that allowed the f b i