Points. But as more people go back to work, could the sudden tech spending boom that was triggered by the workfromhome movement, could it disappear as quickly as it began . Chairman and ceo of adobe, this is a Favorite Software company of small and medium sized businesses, he is here, first on fox business, on whether we all kind of borrowed from future tech spending to ramp up connectivity and what it might do to tech stocks coming up. With the memorial day holiday soon upon us, will americans give us that once in a lifetime visit to europe or somewhere else for a Summer Vacation closer to home . The ceo of the Worlds Largest travel Marketing Company says one hotel in particular thats announced it will reopen is proving to be the biggest vote of confidence the nation could get. Which hotel and where it is, coming up. Plus, Hedge Fund Hot dogs, pandemic rebound stocks and charlie breaks it on directvs future at at t. Less than an hour to the closing bell, lets start the claman countdow
Chinese demand levels almost at precrisis level. Time for todays market moving news from our washington and new york teams. We want to start with fed chair jay powells comments on the economy. In an interview with cbs, he expressed confidence in the recovery, but timing is still hard to predict. Chair powell the economy will recover. It may take a while. It could stretch through the end of next year. We really dont know. Michael mckee, International Economics and policy correspondent, has more. Was there anything new on cbs . Michael nothing really new, just summarizing what we already knew from the fed and from economists and disease experts. He suggested that what it is really going to take is a vaccine before people feel really confident and the economy can start to move back in the direction of where it was before all of this started. He said congress and the central bank may need to do more to keep us afloat during that period. Appropriate government policy could buy time for work
Think. That is wonderful with social distancing its great to see we can get it done and it was an honor truly to read your book it is a running theme people who should know say i had no idea people joining the conversation tonight on what your fight has been about and the changes you have made to give People Perspective compare and contrast what it was like as a young person coming into the world with a disability and what it is like now. On the one hand the difference is very significant because i had polio 1929 in brooklyn just the beginning of television and to recognize the Important Role so there were no lies that protected the rights of disabled people there werent that were protecting the rights of other minorities there werent that were protecting the rights of other minorities point it was unusual but people were looking at disability as a medical issue and not carrying it so there wasnt a lot of activity going on to look at discrimination as that componen component. So the be
15. 7 . Sort of a proxy, this is old data a week older than the other data for the Unemployment Rate looking at the chart you can see it coming down tick by tick but leveling off and well hope it keeps coming down in the weeks ahead. Lets look at the states with most claims. California, 28 , michigan 23 of those who are insured or eligible for Unemployment Insurance getting that insurance there, down to rhode island at 28 . Look at the states with the fewest claims, two stories going on here, one, some states not that hard hit, perhaps nebraska, likely wyoming, but look at the right, florida, again, thats a Big National Story here. The percentage of floridians who are receiving benefits being so small because of their problems with their computer systems, just 5. 2 . Now the fed out with a survey of Household Economic developments and they did a supplement for april just to try to get the recent data. They found 90 of households report either a lost job or reduced hours but 90 on the l
Talking about what he sees happening in the economy. Tom it is an extra ordinary hour, folks, particularly looking at the fabric of europe and the european model. The disinflation dynamics has dramatically rolled over in the last 48 hours, clearly somewhat off the german ruling. There is no question about that. You see it expressed right now with ever stronger yen versus euro. Disinflation wins, just extraordinary. Yeah, on the u. K. , and i would mention the chancellor yesterday suggested it would end sooner rather than later because people become addicted to it. Lets get to bloomberg first word news in new york city with ritika gupta. Ritika President Trump is wrapping up his push to reopen the country. He says americans should begin returning to their everyday lives even if that leads to more sickness and death from the pandemic. The president spoke in phoenix. Made the announcement with the task force. Toll. K. Coronavirus death has now surpassed italy, making it the worst hit coun