A recession than they generally like the any b r wrote about the situation saying the unprecedented magnitude of the decline in employment and production and its broad reach across the entire economy warrants the designation of this episode as a recession even if it turns out to be briefer than earlier contractions now economists generally define a recession as 2 consecutive quarter months of 2 consecutive quarters of Economic Contraction g. D. P. In the us has already fell by 5 percent in the 1st quarter of this year and the economy is expected to climb by a steeper margin in q 2 of 2020 lets get some expert analysis on this and and the state of the economy with todd morris chief strategist at bubba trading and cohost christiane who joins us from los angeles thank you both for being here today but i want to start with you now the end declared that the u. S. Recession began officially in february now this marks the fastest and b r has actually declared any recession. Is this a good thi
Second wave in the fall. And trouble at tyson foods as china bans its meat imports amid new outbreaks it is monday, june 22nd, you are watching cnbc. Good evening, welcome im Brian Sullivan heres hour you money in the Global Markets are setting up their day. The dow might open up points a mixed session on friday with the dow closing down 208 third down day in a row but what is new, a different story for big tech the nasdaq trying for a 7th straight winning session it is already up nearly 5 this month. Just 35 stoxx of the nasdaq 100 are lower this month and 12 names are up more than 10 the best performer that time, what else . Zoom were all doing the video calls up 35 investors, they continue and its higher again this morning around the world, mostly red arrows in asia overnight europe of course just getting things started karen is in our london newsroom with some of the early action and the early top stories. Karen, good morning. Good morning to you. We have covered a fair amount of t
A cluster of new cases after nearly 2 months without new infections will chinas capital reinstated some restrictions including security checkpoints while both schools and sports venues also closed after an outbreak tied to a huge market well this comes as south korea also continues to see a rise in new cases especially since the government has not enforced stricter social distancing guidelines. Are very concerned that spreading. In the metropolitan area in the virus is spreading particularly through Daycare Centers and nursing Senior Citizen were making our best efforts in tracking people who have had contact with confirmed virus so were still using a little bit hes hedging up. The words or utilizing all the resources we can to prevent further Massive Action in the metropolitan area. India also saw a jump in new cases in recent days. This is despite the extended lockdown the country has the 4th highest number of cases in the world with more than 332000 the city state minister predicts
Companies keep pulling ads from the social network. Starbucks and pepsico among the players. Charlie has a big scoop on the facebook story. As the coronavirus death toll surpasses another tragic milestone, and cases spike in some regions, the search for the cure presses on. Jacob glanville is star of pandemic and is here to tell us how his treatment is curing cancer and if human trials are around the corner. Plus a new front in the electric vehicle cars. Nikola motors taking orders for its Tesla Cybertruck competitor, the badger. The executive chairman is here to tell us how orders on day one are faring. Less than an hour to the closing bell. Im Cheryl Casone in for liz claman today. Lets start the claman countdown. Cheryl we begin with some breaking news this hour. Amc theaters is going to begin reopening its u. S. Theaters on july 30th in line with Disneys Mulan and Warner Brothers tenet. They originally said u. S. Theater operations would resume on july 15th. Little bit of pushback.
Thanks for having me back listen i put very little stock into what any account is really said because theyre not calling it until its already over and theyre sure on your show with you i said that were going into a recession back at the end of january it was easy to see that the years are to break down and of course then the buyers really kicked in and we saw the country shut down which is automatically by itself going to create some major problems creating a recession again this steve this is how fast they bond nobody really knows the answer to that and well see where we go from here but at the end of the day were going to start to see the country start to open again were seeing more action in the market and were seeing the actually people start to go to work so again if the virus stays away and we can continue to open and get the country fully open then the recession will be over however there are always the chances that we could have a rebuild this virus and they asked again and we