Pandemic has brought new supporters to their cause folded just like gave us all a flap in the face and made us wake up to the reality that. Nothing is changing and we needed changing we need now the people are all over upset and they. Stay in the house they dont have a war they dont have jobs they dont have food something. And our woke him up waking up their leaders have disappointed us and they didnt do their job so they grow up to contact with the citizens and now the citizens are coming together to make them i did do their job and go home i in recent weeks protesters have risked water cannon and arrest as well as threats of and actual physical assault by right wing groups the Prime Minister has labeled them anarchists complained himself of Death Threats and criticized the media for focusing on the demonstrations nonetheless the numbers on the street sunni risen saturdays protest in west jerusalem thought to be the biggest yet weeks and there is no sense of the momentum of these prot
Year high as the coronavirus layoffs start to show u. And Oil Rebounding crude on track for its biggest oneday gain ever. Absolutely. Its up 26 though still down 17 for the week as a whole. The dow was up 500 points. Now only up 235. Lets focus in on the key stories were watching mike is tracking todays Market Action e meg is covering new developments from the Pharma Industry and kayla has the latest on proposed bailout, but mike, lets kick things off with you. Thanks. Obviously seeing a general pause in the intense selling weve seen perhaps had a wave of that liquidation pass us by and the big old Growth Stocks are leading the way. That hasnt changed through this whole sell off especially sed soed if you look at a one yore chart starting with the nasdaq, 100 the leader, s p 500. The equal weighted verse then the small cap russell 2000 you see that distinct tearing on a oneyear bases in terms of what has worked better if you just focus in on the last month, by the way, one month ago to
Phil flynn has his eye on oil and gold at cme. Hillary vaughn is live in dallas today at a google roundtable event. Gerri to you first on the rollercoaster session. Reporter wow, wow. You said it at one point during the day we dropped 336 point on the dow the within that hour we turned green. Maybe expectation after rate cut, maybe two by the end of the year. Traders like that idea even though the Services Sector appeared anemic here. Dow, one week. We were down 840 points combined tuesday an wednesday. Now we are in the green today. But on the week, the dow is down more than 2 . S p down more than 2 . Nasdaq down 1 . We have got a ways to go to see our way through this thicket. Dow laggards this week, 3m, one of the industrials stocks getting killed bit manufacturing report earlier in the week. Price target cut by barclays and credit suisse. Bad news for 3m. Theyre down 5. 63 . Caterpillar same story. Industrial stock getting hammered by this bat news on manufacturing. Goldman sachs,
The shortages and for the cues. To kenya a leader in the world of mobile payments more than 70 percent of the population as a mobile cash account allowing them to withdraw or deposit money from their phone thats also helped kenyans to get quick and easy access to no news to tide them over until payday but there are drawbacks kenya has 49. 00 credit apps each offering micro loans of between 10. 00 and 400. 00 their initially charged at an Interest Rate of between 5 and 27 percent but that can easily saw to a daunting 150 percent if you fall behind with your payments and one behind seems to be something that happens more often to those holding a mobile account than all those just 2 percent of regular commercial banks customs default on their loans with mobile account cost to most its 18 percent meaning they need to take out more debt just to pay back their previous nouns and for more on that im joined now by joy to rein barrow who joins us in nairobi joy do tell us please how widespread
Please how widespread is the problem of getting into debt through taking out micro loans via any of those credit apps. To start with i think its important to just see that moss these borrowers of between the ages of 26 and 35 and maybe crossing into the early fortys as well and so we have about 6500000 more well girls in the country today and one of the challenges that wasnt obese is that theyre servicing multiple loans what they do is the downward several. Lending us and then have to service is loans because the wyly on and service the other by taking another loan and also of course the fact that the a high Interest Rates that the are not aware of because when they are signing up for these loans they dont really read through the entire agreement they just agree or click agree on the mobile phones and then have this money on the phones as well but what they forget is that this interest is is deducted out from so if you take 400. 00 the interest after and you probably have about 3 maybe