Good morning, everybody welcome to squawk box on cnbc. Im becky quick here with joe kernen and Andrew Ross Sorkin. A gain of just over 1 the dow now at 25,000. Now the dow is indicated up 162 points the nasdaq closed at its highest day. Now about 2 from its alltime high thats the run youve seen since the lows back in march treasury yields. Theyve ticked a little higher the 10year looks like it is yielding 0. 75 crude oil prices yesterday, crude was up about 4 percent on this expectation that opec plus especially russia will extend those cuts put in place that was good for 4 as seen yesterday. Crude up by 1 to 37. 16 all of this against a tricky back drop. It is powering higher well talk to a lot of folks that will help us through this the need for Solutions Former white house and ceo of j j and they have big news on all of this. Getting an update of what has gone on. Reporting a day of mostly calm in washington, Late Afternoon in st. Paul, staging the protesters protesters ran past the
Pandemic rather well in fact 69 percent to be exact in fact the percentage of those who say the media was exaggerating the threat of the virus has dropped from 62 percent in march to 48 percent in april that includes a decline in the portion saying the media have greatly exaggerated the risks as well from 37 percent to 24 percent. But these numbers do not mean the u. S. News media has been beyond reproach in their tactics nor have they seen the upswing in profits either as the Washington Post reports people are consuming news like never before but spikes in readership are coming alongside huge drops in the advertising revenue a New York Times count estimated 36000 media workers have experienced furloughs pay cuts or even layoffs from vice to buzz feed to corks the conde nast there have been massive layoffs in the business of news both in print and on line since the start of this pandemic and that has only been in the 1st few months my friends and of course just because we are in a stat
One is something that we can all benefit from. When alex started writing this book, im sure, he wasnt exactly expecting it to be released in the midst of a pandemic. However, in my view, this topic could not be more relevant especially these days when so many of us are forced to have that day one mentality. So to help us kick off, alex, id love to ask you what you found to be so important about this topic that you wanted to focus your sights on really going deep, interviewing some of the leading ceos and also workers at all levels of Tech Companies. How does it fit into your overall journey. Yeah. So im a reporter here in silicon valley, and i cover the tech giants. And im a reporter that comes in with a slightly different background. Instead of going the journalism school, i studied Industrial Labor relations. And sort of put that in the back of i my mind, but really ive always focused on culture, organizational behavior, how companies are led, how work is structured. You know, thats
Plus the billionaire tilman closing more than 70 restaurants that had just reopened because of the unrest in various urban areas. He will join us later and well tau talk to a ceo who just pulled the plug on a big money deal with facebook. This has Mark Zuckerberg starts an all hands meeting with his employees. Power lunch begins right now thanks. The s p 500 is on track for its third day in a row of gains despite everything going on in the country and the nasdaq is sitting 3 from record highs lets get to bob for more on those markets. Bob. For once, nasdaq is not necessarily the market leader. What were seeing today is energy, industrial stocks leading. Bank stocks leading. Its the reopening story and broadening story this is remarkable its been going on for three weeks. S p keeps going up but the leadership has been altered in the last few weeks in favor of those reopening names. I want to show you the megacaps because we start with them they have fwn driver of much of the rally in ab
Of several coming in the coming weeks across the newsroom. We would love to answer your questions, so please tweet us questions using the askedpolitico, and we will try to get to them throughout the cover station. Anna lets get started. Chairman, thanks for joining us. We are all super focus on the coronavirus pandemic. We are coming, each of us, from our own respective homes. How do you grady federal response so far . Mr. Perez well, the response of this administration has been one of gross incompetence. It is an utter failure of leadership. This president knew come around the first of the year, that this was a pandemic in the making, and because he is always so concerned about himself, and he wants to be the center of attention, he exhorted the advice of seasoned professionals, like dr. Fauci and so many others, and those eight weeks that were lost during this period of time were eight precious weeks that cost lives. Preparedness,of preparedness on getting ppe, this is personal for m