Will accept junk, recent fallen angels as collateral. Time now for todays market moving news from brussels in new york. We want to begin in europe, where the pandemic drove the economy to a record slump in april. Pmi Area Services completely decimated, falling to 11. 7. Manufacturing also dropped to 33. 6. Bloombergs maria tadeo joins me from brussels. Maria what you are seeing is that the Coronavirus Crisis is going to do a lot of damage to the european economy. [indiscernible] brussels tell us they do anticipate a contraction for the entire euro area. This is potentially huge. Youre seeing again the European Central bank stepping in to try to shield some of those markets, in particular in countries like. Taly ,he other side of the equation what exactly are european leaders going to do to help the ecb, to put more money on the table and also protect their own economies . There has been a lot of backandforth. Perhaps a 2 trillion euro package. But all of this is still very much in the
House considering Financial Relief for workers and businesses impacted by the virus. This is what the president said yesterday. We are going to be asking tomorrow, were seeing the senate, well be meeting with house republicans, mitch mcconnell, everybody, and discussing a possible payroll tax cut or relief, substantial relief. Very substantial relief. Thats a big number. Were going to be talking about hourly wage earners getting help, so that they can be in a position where theyre not going to miss a paycheck all right jim, we have a presser at 5 30, but right now dont expect specific proposals i think theyre mulling over some things. Theyll give direct support to workers, which is fabulous a lot of workers live hand to mouth. Theyre coming to work even though she shouldnt because theyre sick and this is a great holdover Small Business loans, they can expand that greatly. We have a lot of money coming into the treasury. They can waive the interest and penalties for people who file exte
Brutal standoff the European Capital as the government subsidies to meet the terms of. The u. S. Government approved the sale of millions of dollars worth of antitank missiles to ukraine. Broadcasting live from our studios in Moscow International im john thomas glad to have you with us our day deadly stabbing at a paris Police Station is now being investigated as an act of terrorism according to prosecutors the man who killed 4 colleagues on thursday was linked to islamic extremist networks earlier my colleague union oneal discussed the story with our trees down quarter. Yes you what the investigation has revealed the perpetrator was in contact with several individuals likely to belong to the salafist an islamist movements in addition testimony indicates that he did hear to a radical vision of islam this knife attack was a catastrophe that shook paris to its core the assailant was a 45 year old michael harp and who had worked at a Police Station for 15 years and all that time the polic
Against him in the state of georgia. Was accused of trying to overtime the results of the 2020 election. United nations is calling for an Multinational Force to be sent to haiti to restore law and order you in chief and tony detectives has urged the Security Council to act now to stop spiraling, guns, violence, intense fighting between rival munitions in libyas capital. Tripoli appears to have ended following the release of a commander. Theyve been helped. Ministry has confirmed dozens of people have been kept north korea claims and american soldiers who crossed into its territory wants to escape mistreatment and racial discrimination. State media also says the us army private, travis king, is willing to seek refuge, theyre all in a 3rd country. The times constitutional code is set to decide with apartments. Rejection of the reading on the nation of the move forward populated was unconstitutional. People in jar and rock spotty, one of the most votes and made selection. But his leadersh
Bull and our own tesla bear ready to drop the gloves on where the stock is headed next. I had no idea he was bearish on tesla. Im melissa lee coming to you live from studio b at the nasdaq. We start off with Jerome Powells pivotal speech here at the new york economic club. The fed chair hinted hes ready to pause rate hikes for now, saying the committee is proceeding carefully. But at the same time, powell also kept the door open for a move in december and beyond. And he added that while recent inflation data has cooled, still too high. Stocks seem to mostly shrug off the chairmans comments, but they couldnt shake off the move in yields. The tenyear came within a hair, a whisper of 5 late in the day, and that triggered a slide into the close. The dow falling 250 points, while the s p and nasdaq dropped nearly 1 . Are investors turning away from the feds musings and mostly worried about yields, guy . Yields are driving everything. Rightly so. They should be. Im not suggesting im right. T