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Comes to the coronavirus adding more than 150,000 new cases on thursday alone President Trump is expected to give an update on operation warp speed in just about an hour. We will take it for you live 59 minutes left to go in what has been wilfred a wild week of trading of one that is higher. Higher for the week higher today as well up 1. 3 on the dow coming up on todays show we will speak with chicago mayor lorie light about her lockdown advisory and the potential economic fallout as cases surge in the state of illinois plus it has been a big welcome back for the bank stocks with the kbw bank stocks up 10 the ceo of kbw will join us to discuss whether there is more upside ahead for the sector. First the big stories. Mike santoli is tracking the market meg tirrells that latest on treelts and vaccines as we await an update from the president and Steve Liesman is looking at the ....
You know, of three straight weeks in the red this time its not tech thats leading the sell off you have materials, industrials and Energy Taking the market lower at this hour plus, still front and center for both washington and wall street is that tiktok melo drama. Will the chinese give it its stamp of approval. Power lunch starts right now lets go to bob for a look at whats happening and why. Bob. This did not start today. It started earlier in the month. It Gains Momentum in the last four days. Theres some very good reasons why. This didnt come out of nowhere. Lets review why the markets are down concerns in the uk about potential new lockdowns. There are increased trade tensions with china. Concerns have increased. Concerns about over value tech stocks that hasnt gone away. I think were seeing a bit of rising anxiety around the election this is not a mystery about whats go ....
Needed to hear not he showed the stark contrast between he and vice he and the current president i think also he spoke to all of the issues that americans are grappling with right now he spoke to his plan to get us out of this Global Pandemic that has just taking our country just to the right he talked about how hes going to invest in our country to get us back on our economically he also talked about our standing in the rest of the world and in talk about his ability to to you know make america better standing with our citizens and our fellow countries in the world and i think he hit on a policy point but he also talked about the issues that americans are grappling with issues of racism a shock to racism he was very bold on that and he also i believe was very bold in touching in reminding us who he is any showed us the strength i think you know weve seen all the comments about him and sleepy joe and these things that you know th ....
54. 3 billion. Those numbers fueled by a 25 drop due to the pandemic. The state will use all of its rainy days fund to spread out. It will drain at the reserve accounts that add up to 1. 5 billion. More than a quarter of the shortfall will be made up with budget cuts including the proposed 10 wage cut. Nothing breaks my heart more than making budget cuts. We have been makingof california. And now being forced into the position where we are ma cuts breaks my heart. There is a human being behind every single number. Governor newsom said that the budget cuts could be rescinded if there is federal support. He said new spending on Public Health will be delayed. More on bleek numbers on unemployment. Nearly 3 Million People filed the jobless claims of this week. Over the past two months 35 Million People have filed for unemploy ....