Nation campaigning on the election trail has been forced to take a back seat will the president ial candidates ever hit the road and so their brand of politics to americans before the fall follow the u. S. Election on a. Hello im sam is a than this is counting the cost on aljazeera your weekly look at the world of business and economics this week economies opening up this spike the pandemic as debts head towards world war 2 levels could we see austerity or stimulus and when is the right time to pay down debt as economies tank and job losses increase the nasdaq hits a record high the stock market is divorced from reality or are we seeing a tech divide between the profitable and loss making and the pandemic has been particularly devastating for Indigenous People across latin america we look at how theyre fighting back. The fall brutal impact of the coronavirus pandemic was laid bare when britain became the 1st g 20 nation to release Economic Data in the 1st 4 months of the lock down the
Significance, that infection rates fall after lockdown orders are lifted. Repeat, thats jpmorgan saying that. Big deal. All right. Now listen to this. Scuffles between probeijing and prodemocracy hong kong legislators. Why are hethey doing that . Thats the wrong tape. Show me the legislators scuffling, please. China just moved to take control. Those freedoms promised to hong kong when the british left are being wiped out. U. S. china relations turning very sour. Initially, that didnt go down well on the market. Futures turned south but then substantially recovered. Right now, were up about 20 points for the dow, modest gain for the s p, tiny, actually, fractional loss for the subpo p. This is a very important day. You will see the president at the white house saluting veterans. You will hear from officials and businesses across the nation about the great opening up. And we will tell you what you are allowed to do this weekend, and where you are allowed to do it. Varney company is about
Have the numbers as soon as they hit the tape and show you the impact. Coronavirus keeping the c task force going indefinitely focusing on Vaccine Development and reopening the economy. Meanwhile some lawmakers looking to expand the Paycheck Protection Program and add more stimulus but others raising concerns about growing debt and deficit. Markets this morning pointing to higher opening. Take a look at futures, indicating market wills open higher in triple digits, dow up 3020 points, s p is up 41 and nasdaq higher by 138, one and a third percent, this after concerns of new china relations to china. Scope memo is out. Outlining authority to former special counsel Robert Mueller, it reveals probe went beyond and completely openended. The fallout coming out. People are working out and playing video games, pelaton surging 66 , the company boosting Sales Outlook and the stock flexing muscle as well. Stock up 17 in premarket. Fortnite becoming one of the most Popular Video games ever surpas
Manufacturing, down 1. 3 million. Overall, whats striking is how fast we descended into a depressionlike situation and of course, we want to know how fast we are going to recover. White house economist larry kudlow will join us in just a few minutes. Is this as bad as it gets and whats the timetable for returning to growth . We will ask him. Before the news came out, the dow futures showed a gain of about 250 points. The moment we saw the numbers, dow futures were pretty much the same. We have now moved up a bit more. We are looking at a gain of 284 points but remember, these numbers were expected. They were already baked into stock prices. Stocks are up because investors are looking to the future, where the economys in recovery mode, and theyre looking at, what, 7 trillion worth of stimulus. That always goes down well on wall street. As we said, the dow up 280. The s p up 33. The nasdaq up 87. Lot of green despite the terrible numbers. Obviously, this is a big day for your money. Its
A system you can count on, we need transparency. President trump ramps up his Public Campaign to blame china saying he has seen evidence linking the outbreak to a lab in wuhan. I think the World Health Organization should be ashamed of themselves. The threat of tariffs weighs on the futures rbf and posted better than expected profits revenue surge and shares sink. Jeff bezos plans to spend 4 billion on virus response measures apple beats top and bottom line forecast in the First Quarter but ceo tim cook said he wont pretend to provide an outlook. Sending shares red after hours a very good morning to you and welcome to street signs. A rough start to may, the only stock markets that are open are trading lower after washington and beijing increased overnight. Threatened new trade tariffs against china after claiming the coronavirus outbreak originated from the country the president did not offer any evidence adding, quote, im not allowed to tell you that and also saying the worth Health O