Way today, but things are looking a lot different due to the pandemic. And while people will still head to the stores, it is Online Shopping that is getting a major boost. The National Retail federation says online and other nonstore sales will jump between 20 and 30 . Total sales are expected to be as high as 218 billion. Naomi ruchim is outside of a best buy in new york city. Naomi, good morning. Reporter good morning to you, tom. Yeah, despite the economic fallout from the pandemic, experts predict that consumers are still optimistic about the economy and we will start seeing that this Holiday Shopping season, starting this morning, black friday. Best buy doesnt even open for an hour. But check out the crowd already around the corner as folks wait to get that ps5 and any other electronics theyre trying to get here at best buy. Still, though, the safest place to shop this year is online. And its where you might find the best deals. The countdown to christmas is on. Black friday remai
Power lunch starts right now the s p 500 briefly dipping below 3,000. Bob has more on todays sell off. This is a very interesting day because its complicated we had a 70point swing in the s p 500. Wii right on the verge of going positive its not simple to say this is a day when the cyclicals started rallying the market is bit unsure of what to do. Just take a look at the dow leadership here. You say, look at all these industries rally here. 3m is up boeing is having a good day. Were seeing the other stocks. Raytheon is on the upside. You say the cyclicals are doing well thats not really the case look at the dow laggards, for example. You get defensive names like merck and pfizer caterpillar is still down. Banks are still down even though they are off the lows. You see its not quite simple to say the cyclicals are rallying boeing has been on a wile ride for weeks. It was 176 earlier in the day. Its been moving up and moved into positive territory. It was 155 two weeks ago it goes down t
Drug failed in trials. Good afternoon afternoon and good evening, good morning. This is viviana , this is bloomberg surveillance. First thing is first, this is what your markets are doing. A lot of the focuses on earnings. A lot of the focus yesterday was the fact that we saw this blunder through w. H. O. Leaking. We understand gilead and the impact we saw on the markets because the trial was not as successful as a lot of people were hoping it would be. Overall, your markets are also focusing on oil. Touch today, west texas actually extending the recovery, treasuries climbing with the dollar, and a lot of the focuses what is going on with italy, the Italian Government bond fell after the europeans felt signed off on this plan, immediate follow from the pandemic, and we also look at Corporate News and some of the earnings. Ifo german Business Confidence falling, but it was expected. Of the 79. 7 figure. Again, that is the lowest ever, and in about 30 minutes, we will speak to the head o
Coverage. Blake burman with the latest from the white house, Lauren Simonetti is watching the markets and Edward Lawrence is in washington. Lets kick it off with edward. Reporter exactly. Chairman Jerome Powell, Federal Reserve keeping Interest Rates where they are foreseeable future. Federal reserve chairman Jerome Powell said the coronavirus had Significant Impact on Economic Activity, employment and inflation, further lowering expectations. The Federal Reserve chairman believes well see doubledigit unemployment when the next Unemployment Rate comes out. He backed off saying there would be a robust Third Quarter going farther, saying some uncertainty around when the crone cron treatment will be available is when in fact the economy will start to pick up again. But he would not say if the announcement after treatment or a vaccine changes anything that the fed is doing. Also Federal Reserve open Market Committee statement saying that the fed will keep rates where they are until they ar
Brouilette will deliver remarks. Good morning, we have seen time and again how technology has transformed our lives and unleashed new challenges and opportunities as we think about a new future for the United States. 2003 was a period of change, 17 years after our founding, our Council Members recognized that the nation stood at a particular inflection point. We needed significant change to enhance our innovation capacity and that led to the pioneering work of our National Innovation initiative. Another 17 years later, here we are again, finding ourselves at transformational change. Throughout the day as was mentioned, were going to hear stories about these changes as theyre foundational to our commission on innovation and competitiveness front tiers. The commission is a multiyear effort to reimagine americas innovation channel and to charter a new path in the 21st century. As this slideshows just a little less than a year ago with our core leadership team, we began to build this effor