An saw atcase s ea of the virus in the bay area. Local and state leaders are looking for ways to slow down the spread of the virus. Governor gavin newsom announced a partnership that will help house the homeless. Wilson walker on why this effort may continue long after the pandemic is over. Reporter the governor says california is ahead of schedule in securing hotel rooms from the homeless and was joined by a bay area mayor who calls this a longterm solution. We are at the side of the motel 6 in Santa Clara County. The reason we are here is to mark an important milestone. Reporter with nearly 1 11,000 roomsincluding a 5000 room deal, he set called project room key. For Santa Clara County this means 1123 rooms. They could be available now for those covid positive individuals, Homeless Individuals who are vulnerable to come in from the cold. Part of the appeal fur mayors like sam ricardo is that they dont carry much of the cost. Getting the reimbursement from fema. Reporter there have be
About 200, nasdaq down 76 and s p 500 lower right now by 24. One of the issues is some weak earnings or forecasts. Ups for example beat on Second Quarter earnings but missed on revenue. The shipping company lowered the annual revenue forecast on soft ecommerce demand and reaching a labor deal with the Teamsters Union for 300,000 employees, Trucking Company yellow also filing for chapter 11 bankruptcy after years of financial struggles, growing debt. The Company Nearly 100 years old, had received more than 700 million from the Federal Reserve in aid during the pandemic. Greg, what do you think this tells us that yellow goes bankrupt, ups today has a weak forecast and misses on revenue . Is this a macroeconomic story . I think a little bit of it is macro, certainly. Look, the economy is evolving and if you look at the last year andahalf, weve had one of the biggest Interest Rate increases that weve seen if ever, not just here in the u. S. , but globally. And when you reprice Interest Rat
Replace obamacare. Hospital stocks are leading the way, but insurers are outperforming the market and drugmakers, too, have been going up well have much more on the proposal and the impact on various stocks thats coming up in just a few moments here. Molina health care is one insurer really profiting from obamacare. How will the bill affectmanage cops like molina well have the ceo weigh in. And were pleased to welcome Goldman Sachs new president and chief executive officer Harvey Schwartz who is with us here at the New York Stock Exchange. Well talk with him exclusively about financial reform, the latest round of the stress tests which, by the way, are coming out a little more than an hour from now a lot to talk with harvey coming up in a little bit here. Lets begin though with the Health Care Stocks rising after Senate Republicans released their discussion draft of the bill Kayla Tausche joins us from washington with some key takeaways. Kayla. The discussion draft is seen as an openin
Rally yesterday and for most of the week now weighing down the market today coming up we will look at which stocks could be the big winners and losers from the Senate Healthcare bill proposal and President Trump has been touting an improving economy, but economic disappoint hasnt been this low in six years were going to discuss what trump can do to help turn things around mean healthcare is still on pace for its best week of the year it is the best performing sector this week led by the biotech these gains are just shortterm moves in his view. The market is focused on shortterm profits if you look at whats going to happen five or ten years down the road, this is going to cost much more. So were going to have some shortterm savings but in the end the taxpayer is going to pay much more joining us now to talk about the stock market impact, are you looking primarily at the insurers and do you think its this bill thats driving insures higher or could it be they dont think the markets going
Community. Do not let up the pressure we saw what happened in the house. We need to keep fighting and were going to, and democrats will be right there fighting along with all of you. Senator stab now. Im very proud to stand here with a group of people and with a caucus that understands so the democratic side leadership of the Senate Speaking out after the Republican Leadership announced a delay in the vote of the Health Care Reform bill, and we welcome you to closing bell now for this tuesday with the dow done about 40 points right now. Im Bill Griffeth along with kelly evans. Lets go to washington for the latest in the twist for the Health Care Bill that up until the last hour or so we thought might get done as son as this weekend. Thats right. We heard senator john cornyn say this morning, a vote was on this week and a few hours later Senate Leaders reversing course essentially acknowledging they dont have the votes, at least not yet, to get this passed. Mcconnell had said that the w