to see a two year yield come in and a 10 year bond coming in with a vengeance. coming in is that signal slowdown, massive curve flattening. jonathan: 10-year yield breaking down. we are down eight points on the s&p 500. lisa, phase one was about access to capital and drawing down credit lines. phase two is about the permanent decisions, cuts and layoffs. that is what has been building this week. lisa: we have seen those cuts and layoffs likely to be ongoing with a number of cfo s studies pointing at bigger companies looking to shrink their workforce further through the end of the year. the thing i m watching is how much can we plug the gap, the deficit of production with regards to fiscal stimulus? as we wait for that, we will be waiting for the data coming out today. we get the u.s. june producer price index, measure of inflation. 1:00 p.m., this will be interesting in light of the fact that you seek shale producers bringing rigs back online due to higher oil prices. later t
resee recovery in retail sales dow down 271 session lows 59 minutes left of trade the nasdaq has been the underperformer is actually off its lows we re kind of moving around, as we speak, in the final hour. all the major indexes are lows ahead on today s show, we ll speak to mike sievert. we ll get an upgraciointergrac sprint and the president of the university of arizona will outline his plan for the fall semester as cases and hospitalizations rise in that state. we ll focus on the big stories we re watching at this hour steve liesman with details on today s jobless claims will is digging into big bank earnings and meg has details on johnson and johnson s results. but, steve, start us off with the jobs picture. you know, we re getting two different stories from the jobless claims one of improvement and one where the improvement has kind of flat lined. we ll take a look at the numbers. claiming coming in at 1.3 million. above expectations dow just 10,000 on the weekly
the dow is looking for about a 300 point gain right there at the opening bell. s&p up about 34. look at that nasdaq go. technology is doing well, up 104 points. that s premarket for the nasdaq. now, lockdown winners. clearly emerging. lowe s, the home improvement people, headquartered in north carolina. profit up 28%. we stocked up for the lockdown. target, they really organized their online delivery and store pickup operation, lumped together under digital sales, up a whopping 141%. walmart, same story. stockpiling helped them, too. amazon, kings of the online selling business. boy, did they clean up. the stock is near a record high. and the netflix, well, they are the kings of the streaming business. what else are we supposed to do when we are ordered to stay home for weeks on end? there are a lot more virus winners and we will go through them throughout the show. meanwhile, the revolt continues all across the country. businesses are defying the authorities and opening
business this morning and you re wearing a mask for you now as you know santa clara county at the most coronavirus cases so they ve made significant strides when it comes to now rolling out this phase 2. now in addition to these retail establishments, the manufacturers in the warehouses are also allowed to star back to santa clara county has been under a shelter-in-place order for 2 months and has been called ground 0 here in the bay area now this holiday weekend a lot of residents are going to be out and about it s a lot of people already out and about this morning we talk to. some of the residents and they give us their thoughts about moving into phase 2. been a lot of waiting. a kind of excited because. being stuck at home get kind of and see kevin event things like that the order has support local businesses and good luck to them. all right how other businesses that can open today include outdoor museums as well as historic site as long as visitors remain outside on th
states, again launching these initiatives right now to really unwind this process. by the end of the week the country as a whole will be 50% freer, if you will, or less locked down when all of this started. so that is a big development here. as people get back, a lot of them look forward to the memorial day weekend which they can see themselves going to beaches and the rest. the trend is share friend. certainly concerner of wall and broad a very big trend at that. we ll pick that apart with technology action, retail action, oil action. that has been dancing today. it is interesting to point out right now the dow and the s&p and the nasdaq, forget about the nasdaq, already in positive territory on the year, it is not more than 5% from all-time highs, my friends, all-time highs. when you look at the dow and the nasdaq, they are respectfully down 13%, 9%, from where they started, when all of this was careening. think about that, how much of a comeback the markets have seen. a lo