ginsburg made the political picture in washington significantly more complicated with some analysts saying the odds of another round of stimulus before the election falling sharply. bank stocks are getting crushed today as well amid new report about major firms dealing in suspicious funds we ll have more on that in just a bit. we have 59 munz left left to goy volatile session still make for the worst day in a while. percentage terms, we re down 2.2% as we stand ahead will be all over the selloff in the final hour of trade. billionaire investor mike novogratz will join us with his take on today s plunge and whether he is buying any of the dips after three straight lease losing weeks and we ll speak with john kerry in an exclusive interview. we ll get his take on the supreme court, on stimulus, on the election and that final month run in of campaigning which, of course, he knows so much about let s focus in on the big stories we re watching on a very busy day of news mike san
restrictions but many businesses and states are seeking additional financial assistance. 8:30 a.m. eastern treasury secretary steven mnuchin will join me live on how to help recover from the pandemic. retail continues to struggles. j. crew to file for bankruptcy this morning. we are expecting that. take a look at futures, indicating a decline 266 points and nasdaq lower by 73 on top of selloff on friday which led the u.s. markets in the red for the week, take a look, mornings with maria is live right now. tensions between the united states and china are growing. dax index in germany down 368 points right now. sharp decline there. manufacturing and construction starting back up in italy today. shops set to reopen in ten days followed by bars and restaurants in june, in italy. in asia overnight losses in hong kong and south korea. hong kong s gdp for the first quarter decreasing, much steeper fall than expected. hong kong down better than 4%. markets in china closed for holiday
last week s big rally with saudi arabia and russia feud over cuts the oil market taking a hit today. we do have full team coverage of these markets for you. bob and rick covering the action in stocks and bonds. steve on the latest economic fall out from the virus. bob, we ll kick it off with you and this rally that just keeps building it started early on we got right up great overseas numbers. when governor cuomo started talking a couple of hours ago, we moved up on his comments on hopes for plateau. the market took it positively. i want to point out that we are, i call it markets in the middle. we re now 20 off of the lows from the february 19th high, we re now down 22% remember at one time we were down 35% a bull market to bear market to i don t know how to characterize characterizeize this morning we re 20% off the lows the most beaten up are rallying the most retailers they are a big today wayfair up best day since march 26th for the banks. here are some of the regional
lawmakers also heard testimony from the head of the housing agency, this hearing is just under three and a half hours. will come to order. without objection the chair is authorized to declare a recess of the committee at any time. this hearing is entitled, the end of affordable housing? a review of the trump administration s plans to change housing finance in america. before i recognize myself, members, today is mr. mchenry s birthday. [ applause ] if anyone wishes to sing happy birthday, please save it until later. thank you. we all thank you for that, madame chair. happy birthday. thank you. i now recognize myself for four minutes to give an opening statement. good morning, today we re here to discuss the impact of the trump administration s housing finance reform plans. we are joined by treasury secretary steven ma shun, ben carson, and mark calabrio welcome. let me say up front the trump administration s housing reform plan would be a disaster for our housing
the company s earnings fell short of wall street expectationss its heavy investments cut into the profitability. they have been spending on one-day delivery to cloud business and advertising sales force as well. the good news is revenue grew at a healthy clip, but wasn t what analysts were looking for. josh whitman takes a closer look at amazon s quarter. reporter: good quarter, bad guide. that s how on lists are describing the latest earnings report, specifically of the company s g 4 forecast disappointed analysts calling for $80 billion to $86.5 billion. jeffrey says that s critical. g 4 is the big quarter, the holiday quarter, though he does caution amazon is conservative in its forecast. he also notes the company is back in investment mode, spending to bring one-day shipping to its prim members and it s weighing on the bottom line. josh whitman, san francisco. let s push to tom forthey to learn more. he s a senior research analyst. toto welcome, nice to have you here.