Im going to have our 1st welcome to this special edition of the news as we cover the festivities commemorating 30 years of german reunification on this Germanys National holiday it was on this day 30 years ago that east and west germany reunited to become one country again for the 1st time since the 2nd world war this years event is being held in potsdam the capital state of brandon book state near berlin that german president from father steinmeyer will be speaking shortly well bring you his speech live its a splendid occasion but this years festivities are scaled down in compliance with social distancing measures and other restrictions put in place due to the coronavirus kind. Of help me guide us through the events today and shine a light on its significance im joined in the studio but it of you cross part. Common ration venue in potsdam nina hoss is standing by at the iconic Brandenburg Gate in berlin we welcome. Thomas sparrow and lets start with you the german president is speakin
Lot of money when you die, youre doing it wrong according to the author of a new book. Power lunch starts right now we welcome you to power lunch. Stocks lower the dow is down less than 50 points right now 3m and mcdonalds are two of the biggest contributors to that decline. Both reported results this morning. Well have details a bit later in the meantime, bob gets us caught up on whats been happening on the market today. Robert hello, william. Good to see you. We have one third of the s p reporting. Two stories. One is the reopening story is not going that well. The other story is cheer up. The Second Quarter was the bottom which is it . Sherwin williams knocking the ball off everybody is painting their house. The Home Builders are billing it dr horton, great numbers orders were way above expectations then theres the other side, companies saying we are not providing any guidance xerox didnt either. Raytheon didnt give any Harley Davidson was way below expectations mcdonalds were light
From the billionaire buyer about his 240 restaurants that are back in business open once again. Hell join us later. First, over to you as we mentioned, fed chair Jerome Powell testifying on the cares act today. Lets bring in steve for more. Steve. Thanks very much, kelly the treasury secretary and the fed chairman defending the programs that are out there. The critical questions being how soon will this money be delivered. Is it going to the right people and is it enough of it out there . Poul w powell was asked about the question and here is his response regarding maybe more needs to be done this is the biggest response by congress ever and the biggest from us and this is the biggest shot we have seen in living memory and the question looms in the air of is it enough. He seems to suggest that more may need to be done. Congress wanted to know where is the money they appropriated and the fed is yet to launch several programs here is graphic that may help you understand where this money
Business owners are already facing after months of lockdown and ceo response social issues facing Corporate America and the companies to do the right thing. It is tuesday, june 2. We are watching Worldwide Exchange. You are watching here on cnbc. Good morning, good afternoon, good evening from wherever in the world you may be watching. Im Brian Sullivan thank you for joining us wherever you may be. We hope you are all healthy and safe optimism from the markets looking ahead. Thats what the stock market appears to be telling us some investors clearly believe in 9, 10, 12 months, the economy will look very different than it does now with 40 million out of work and many states in various lockdown stock futures right now are higher indicating an open of 100points to the upside. Indicating at the highest level. About 3 to the nasdaq 100 hard to believe. They all rose overnight as well. A similar story. The markets are higher despite the protests that began here and now happening in various
Last few minutes of trading hire is what is new at this hour President Trump making his way to california this hour. Heading west for a multiday visit to campaign in key swing districts not beforehanding out a few president ial pardons before he hopped on air force one. Plane to rein in on wall street. Mike bloombergs newest proposal to crack down on some of his old friend in the Financial Services industry. Well talk about that. They may be a waste of your time. Now there is a way to get even with them and get paid. How you get revenge on the pesky robocallers. Stay tuned for that coming up. Lauren meantime we have fox Business Team coverage. Blake burman live at white house, Jackie Deangelis on the floor of the new york stock exchange. Edward lawrence in washington. Jackie, you first to wrap up well, the nail biting day for us. Looks like we have the record on the nasdaq. I hold my breath this time of day to see how it shakes out. Any gain on the nasdaq, any green territory would be