Global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. I am vonnie quinn. Welcome to Bloomberg Markets here are the top stories we are following. Covid vaccine in the ether again. Pfizer says a final analysis of the chemical trials data shows its vaccine was 95 effective. Free han the 90 previously. Michael stubblefield, ceo of of and later we will speak to the ceo of intact financial. It would be the biggest acquisition of a u. K. Listed company this year. A quick check of the markets. For the most part, not doing much. The s p 500 unchained. The 10 year yield under 88 basis points. Weakk dollar index a dollar index. We have a slightly smaller dollar. Investors keeping an eye on vaccine development. Tor provides materials for vaccine candidates. The president and ceo Michael Stubblefield joins us for more. Michael, you provide Raw Materials for most of these vaccines
25 cases per 100,000 residents, the last 2 weeks or less than 8 of tests coming back positive in the last week Governor Newsome is painting a brighter outlook for june. Expect if we hold the rate. Transmissions we hold the Positivity Rate down we continue to do justice to the hospitalization icu numbers that will be making announcements statewide not just with the regional variances that would for retail not just to be picked up but in store retail to be loosened up. In addition to sporting events a pro sports. In that first a week or so of june without spectators and modifications and prescriptive also can begin to move forward. And he points out you have to also expect that maybe things will be pulled back and tighten up again if any of these county c more covid positive cases. They may have to do that for now jims tourism entertainment are all out of the question. Those they have to wait for face 3 and were just in phase 2 now by the end of the week all very counties will be in phas
100,000. The World Health Organization in the meantime is warning countries against stopping lockdowns too soon. We will take you to the press conference in washington as soon as it begins. We are expecting President Trump to speak at any moment now. Meantime, i want to bring in Romaine Bostick. You have been following the markets all day. There have been some good days, but most days have been down days. What was driving the market today . Romaine, are you there . Looks like we lost romaine. We are going to go now to the ceo of google cloud, who is joining me now on the phone. You,s, before i get to just want to show what the market has been like for google over the last month and a half. Google shares down from a peak but this has been a time of record business for you. You have seen Unprecedented Demand on google meet, your videoconferencing service. If you will, talk to us about how you have navigated a surge in demand and business as all of your own employees have had to work from
Because the Senate Just Passed another 500 billion bailout. Bailout, lets say of the last bailout. As we quickly ran out of money thats why the dow surged 457 points s p soared 2. 29 nasdaq 2. 81 house of pleasure Payroll Protection Program was supposed to be for Small Business, right . In the end a ton of that money ended up going too big businesses, Public Companies that was a back rub and sing i feel like a chump. I guess i should be more cynical about politics, just trying to help Small Business. However, if you ask me, that wasnt really the big story of whats going on. See, theres something bubbling underneath right now under the surface. And if anything, it makes me want to be less cynical about corporate america. Thats right corporate america. See, this market is rewarding businesses that have foresight and originality and most importantly, heart i dont want to sound too sappy, i dont know how else to put it. The stocks of good corporate citizens are thriving here mark benioff,
We are looking for disney plus competition about how youre going to turn it around well speak exclusively with tom to launch in november. Well, i think were focussed back to you. Julia, thanks donahue about the impact of the on what we can do to make our new round of tariffs on american uber and lyft set to report next airline better every day and continue to execute well for the week leslie picker with a pick for companies. Very powerful business lobby group. Joining us for the how is longterm. Us. Reporter both trading well we are competitively better below the ipo prices michael from ubs with us for the top of the show can Second Quarter earnings give is steve grasso. Equipped to serve hawaii because them the boost they need of our fleet and our products wall street expects both companies to continue posting losses if you remember last quarter and our Great Customer service the search for yield seems to be and cost structure than any they reported each had quarterly other carrier. D