Economists expect most jobless numbers will show that another 2 1 2 million americans filed for Unemployment Benefits last week. That would be a slight improvement from the prior week. The nation has seen about 33 million new unemployment claims in just the past seven weeks. Here in california, the state Employment Development department has issued a new set of guidelines as a result of the coronavirus pandemic. The new rules would allow some people to actually turn down job offers and instead continue to collect Unemployment Benefits. New at 6, andrea is here now to explain. Is a drastic change from what normally happens when people collect unemployment but part of the reason here is that people are supposed to be hunkering down at home to prevent the spread of covid19. It is sort of a day by day week by week. That is how tonya, owner of brown sugar kitchen on broadway and oakland views her current predicament after laying off 34 members of her 40 person staff thanks to the coronaviru
The change will put the county in line with the state, which loosened restrictions last week. So, what this means now, for our city, is incredible. Because we are talking about many of those Small Businesses, and various neighborhoods, where you see many of them, the shots are close. San francisco says no more than 10 workers can be at a retail site at any time, no more than 50 workers at any time can be at warehouses or manufacturing sites. New at 11 00, face coverings are now required to be worn by people who are out and about in palo alto with pal unanimously approved the new order. It requires face coverings to be worn by anyone who enters a business, store, healthcare facility, or takes public transportation. It also includes stanford facilities, located in the city of palo alto. I think that it is very important that we protect each other. And the only thing we have right now to do that is all of us wearing masks. Especially when we go to the Grocery Stores and other businesses.
Production next week. Now we dont know which ones are going to be built but we just know for boeing which has had rapid troubles over the past year and a half or so to say nothing of the virus shutdown here, but this is welcome news, certainly for the markets and of course the biggest advance today is Gilead Science drug that is showing promise, or could be effective against the coronavirus, its out there a number of other medical concerns that are also involved in the hunt for a vaccine or a treatment and there are a variety of them out there half a dozen is coming up here and i will explain a little bit later but its what gilead is doing thats getting a lot of attention as we stressed so many times here regardless of the stimulus around the virus, what will really move the markets and connell ly proven to be the case is progress on dealing with and or treating the virus so this gilead news is big news in need, Jackie Deangelis on that and much more. Jackie theres optimism in the mark
Goes back to really and see for me. We had our discussions in committee. If there are concerns about resiliency, and that is based on my experience in the private sector, couldnt you address those concerns through the regulatory and Supervisory Authority that exists in your space . When i was talking about the multiple data centers and the redundant systems, you think resiliency could be something that is a function of what you are doing right now . Chair powell the gentlewoman from massachusetts is recognized. Thank you, chairman powell for appearing before the committee. The Federal Reserve can do more to support the needs of hardworking american families. As it stands, working families can wait days at a time to have their checks cleared. There can be no room for error. America,ntral bank of the Federal Reserve has the ability to speed up the process. I want to bring up a report that was issued two years ago. The Faster Payment Task force. The task force called for a Payment System
This is bloomberg surveillance. Alltime highs in the s p 500 with the three day winning streak, 20 fourth record close so far for 2024 and the main event is coming right up, 2 trillion market cap. There is only one name, nvidia. Lisa the most important Macro Economic event, one of the most important events on the calendar thats where we are at with one name, one company can dictate the Macro Economic backdrop for an entire market and thats today. Jonathan raising the bar once again going into the numbers later this afternoon. Barclays raising their price target, expecting a beat and a raise. Annmarie its not about if they beat expectations but its by how much. The bar continues to increase for nvidia that they need to clear. To avoid a selloff, they have to be estimates by 15 . Jonathan its about target or tarjee. Lisa its the upper crust of that kind of store which maybe they want to get away from. Jonathan up 2. 5 in the premarket. We will get Price Reductions on 5000 goods. I imagin