At us, we are at number four. The president , the Speaker Pelosi and treasury secretary mnuchin, they are all on board with a grand infrastructure plan. Leader mcconnell says hold back for now, but it sure looks like a lot more spending is in the works. After all, we are all big spenders now, arent we . Look at the markets. Responding to the jobless numbers and the possibility of more stimulus. The dow looks like it could eke out a small gain of maybe 70. Nasdaq up 17. S p up maybe 10. A fractional gain for stocks despite that jobless number. Look at the price of oil. Up sharply today. The president wants a deal with the russians and saudis and he will meet with Oil Company Executives tomorrow. The oil price this morning is up to, okay, up to just 22 a barrel. Got it. But its higher by 9 . The price of gasoline, look at this, keeps coming down. 1. 97. Thats the national average. In oklahoma, hard to believe, its all the way down to an average of 1. 51. Thats oklahoma. On the program to
Hello im Darren Jordan this is counting the cost on aljazeera oh look at the world of business and economics this week its been a little more than a decade since the financial crisis will the pandemic push the banking and financial industry into another meltdown more jobs are lost than joining the Global Financial crisis and millions more on the line as 2000000000 people go into lockdown. As rich nations pick up last paychecks people on the margins of society that have no safety net from former workers in developing countries to migrants in rich nations who is looking out for them. Well from a Health Emergency to an Economic Disaster as the world grapples with a coronavirus pandemic unresolved the old wounds may trigger another financial meltdown as rich nations spend trillions trying to keep businesses afloat theyre relying on banks to maintain the flow of cash to industries and offering learn repayment holidays to consumers well in europe where banks have yet to recover from the 2008
Other nonessential businesses to shut their doors a Record Number of people have filed for unemployment the Labor Department reported a staggering 10000000 people filing for Unemployment Insurance in just the past 2 weeks that means almost all the jobs that were gained in the last 5 years just vanished lets take a look at the most hard hit states the highest number of unemployment claims the files were coming in from california at 870000 over on this side in new york those claims total about 360000. 00 now economists believe that the end of this crisis is not anywhere near the at and as the numbers are expected to continue to climb its estimated that about 20000000. 00 people will lose their jobs in the coming weeks but there is an increasing concern about how its impacting low income and minority communities and whether it will lead to an even deeper divide between the haves and have nots so. More on this lets go to our tease Rachel Blevins she is live in the news room with more to th
With the hopes of going ahead. The Federal Reserve move made a turnaround. That led to selloff yesterday. Dow industrials down 582 points, nasdaq down 18 and s p lower by 67. Reports that u. S. Airlines are looking into voluntary shut down of passenger flights across the country this morning. We will take about it. Ceo of boeing David Calhoun joined me later this morning on asking for bailout, suspending dividend and foregoing his own pay and shuts down. Im going to have a report for you jpmorgan says theres a trillion dollars wait to go flow waiting to flow into stocks. President Boris Johnson putting people in lockdown and banning meetings of more than 2 people. Take a look at asian markets here. South korea doubling coronavirus package. Kospi index off 8 and a half percent overnight. More bad news on the chinese economy to report. Latest survey from china warning economy could shrink to 10 to 11 . Thats just the First Quarter for china. Take a look at 10year treasury rise and settin
116. Now the nasdaq is down 335. Another part of the problem is that its the first of the month. The rent is due for shuttered businesses both big and small across the nation. The ceo of the International Council of Shopping Centers, the landlords, is here in a fox business exclusive. We will ask are the checks coming in and if not, whats the plan . Evictions, waivers . We will find out. Plus, the unintended consequences of working and learning at home. Zoom bombing, have you heard about this . Its like a photo bomb on Video Conferences from complete strangers who are hacking and weaseling their way in. Some are funny, some are downright criminal. Coming up, the company that allows everyone to sign checks and documents remotely has all employees working at home. The ceo of docusign on balancing that challenge with its skyrocketing business and stock price, up 70 year over year. Remember last week countdown was the first to tell you how 3d systems was converting its 3d printed scuba mas