Protest across the nation and the measured needed to Reform Police departments. Good afternoon. Im sarah cayhill. Im the executive editor at axios. And welcome to our live zoom event. Many of us are joining us live. We are Live Streaming on facebook. Were on youtube on twitter. And you can catch us on axios. Com. And if you are on twitter, you can join the conversation by using the hashtag ax yos events. And be sure to include our handle at axios. So lets get started. Im coming to you live from my home in washington, d. C. And today, we have a very big conversation. Our event is the epidemic of inequality. And today, we want to have an important conversation about systemic racism in our country. The reason were here is because of the death of of george floyd in minneapolis. But as everyone has seen in cities and states across our country over the past 11 days, theres an underlying problem that has yet to be fully addressed and with adequate reform and justice. So today, we are bringing
More than 36 million have lost their jobs because of coronavirus. While congress has taken significant action, we must do more. On wednesday, Federal Reserve chairman jay powell urged congress to think big, address this crisis. The heroes act is a bold step to provide that support and ensure our nation meets the challenge of the pandemic and the ensuing economic recession. Within the appropriations division, this bill deploys more than 1. 5 trillion in federal funds to address this health and economic crisis. First, the bill delivers nearly 1 trillion to states and local governments so that they can keep our heroes, First Responders, health workers, teachers, and other Public Servants paid and working for the American People. I am proud that this bill will provide 67 billion to my home state of new york. Which has been hit so hard by this crisis. Second, we will only beat this disease with a Robust National strategy for testing, tracing, and treatment. Yesterday, dr. Rick bright, one o
Down more than 1 earlier on. We have a weakening offshore yuan, which is notable, because it had been strengthening. Brands, the best performer, surprisingly in the s p 500. It is closing 23 of victorias secret stores. Automobiles doing well today. Lets get a deeper dive into todays market action. Standing by we have taylor riggs. Taylor mostly risk off tone, bonds catching a bid. Gold is slightly weaker, but yesterday was higher. You also have the south african relative to aning weaker dollar, after the Central Bank Cut its key rate less than most. Also playing is crude, up for six straight sessions. You are seeing some of this go back to fundamentals. Prices had gotten so low, demand is starting to come back. Continuing to trade above 33 a barrel or the second straight session. It is the highest now going back to march 11, before the lockout started. Taking a look at the individual stocks, you mentioned l brands. They will try to split up victorias secret and that embody works. Bath
Reaffirming its redline over taiwan. Coronavirus claims more deaths as cages cases approach ive million. U. S. Closing travel from brazil. Protesters to announce chinas security law in hong kong. Washington says it could be the death knell for asias leading financial center. How is that playing out across these markets . Declines from last week, there is a little bit of trepidation and caution across futures now. Your getting brent crude, pleasant surprise from the upside, nothing screaming higher. 29. 65. 2965. 34. 72 brent crude. Coming off weeks of sharp gains. Looking ahead you have more data that perhaps would give us more visibility on the path. We could get consolidation as we were talking about earlier in the program. Lets talkoned, about the renewed tensions between the chinese and the americans here with the foreign minister of China Morning the u. S. To give up warning the u. S. To give up Wishful Thinking about changing china. Saying some in america are pushing relations to
Across kitchen tables. Now all of that is in chaos. The chairman of the Federal Reserve reports that nearly four in ten american households that earn less than 40,000 a year had somebody get laid off in the month of march alone. This emergency is very serious so the senates response has been serious. In march, Senate Republicans designed and the full Senate Passed the cares act that pushed trillions of dollars to working families, job creators and medical professionals. We sent direct cash to almost 130 million americans. We delivered hundreds of billions of dollars in paycheck protection loans to small businesses, saving tens of millions of american jobs. We helped state and local government defray coronavirus costs. We funded Health Care Providers and testing. Even now its programs are still taking effect, still coming online, still helping. The senate took a blank sheet of paper and turned it into the largest rescue package in history. Weve taken this crisis seriously. But House Dem