We have a new crash on westbound 92. You can see, if you are driving across the san mateo bridge, as soon as you get off the bridge, you will notice traffic, because of an overturned car, west 92 at 101. It looks like it could be there for a minute. Not a minute, i mean, it is a figure of speech. It could be there for a few minutes. If you use the san mateo bridge, use the don barton bridge, we will have more coming up. Lets go back to the headlines. Thank you, sal, we start breaking news. The Labor Department released the unemployment report for the week. 1. 4 million americans file for new Unemployment Benefits last week. That is higher than wall street and economists projected. Layoffs are high as businesses are ordered to shut down again because of resurgence in coronavirus cases. It is the 18th straight week that the number of unemployment claims have topped 1 million. The number of Weekly Applications had never exceeded 700,000 previously, and whil report from the bureau of labor
Coronavirus cases and political tensions. The Trump Administration rejects beijings claims in the South China Sea, accusing it of bullying. The u. K. Is set to ban huawei from its 5g mobile network. The plan would mean British Companies need to remove huawei infrastructure by 2027. Welcome to the program, everybody. Lets check out the futures. Lots of moving parts in terms of the market action. Lots of geopolitics to talk about as well. We have futures pointing to the downside in europe. We have to play a little bit of catchup with the united states. Lets get to some of the breaking news out of the u. K. That is certainly going to be one of the focuses in our program. The u. K. Economy shrank by 19. 1 in the three months ending in may. Getting a three month figure. Main manufacturing production rising by 8. 4 . Somecoming out manufacturing facilities coming out of the Strict Lockdown measures, working out how to manufacture in the current environment with covid safe practices. Mayecono
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Or the rest of the world. With Earnings Seasons coming up and a few key Economic Data points later this month, how confident are you in the economic recovery . Great setink we had a of economic figures really since midmay through june when the reopening story was gaining the most momentum. Reports,o great jobs pmi, sales, housing data, all to the upside. Economic price indices we follow are in the u. S. Now at alltime highs. That being said, i think we may have a time of slowing in perhaps in the weeks ahead as Economic Data plays catchup with what we are seeing in the country with a slower reopening broadly. So the job state of this past month captured the time from midmay to midjune. The next jobs report will capture midjune to mid july, when we started seeing thoses likes and those spikes and a pause in the reopening. As you mentioned, we also had earnings starting in earnest next week july 15. From an earnings perspective for two to we are seeing downward for q2, we are seeing a do
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