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We are back with images showing just one of several fastmoving wildfires burning in arizona right now. Thousands of people have been evacuated and several highways are either fully or partially closed. So far no structures have been damaged, but flames have scorched more than 300 square miles. As we officially head into summer tomorrow, several states are reporting soaring Coronavirus Infection rates. 20 states are seeing increasing numbers of new virus cases. 18 have growing rates of hospitalizations. California is among the states that just set a daily record for new cases. That forced governor gavin newsom to require everyone to wear a mask when in public. Those soaring infection rates in the south have some governors from former hot spots in the north considering travel restrictions, but are they effective . I spoke earlier with dr. David eisenman. Were seeing troubling coronavirus numbers across much of the south, incl ....
3. 5 . The s p, a similar gain, about 2. 5 there. And the nasdaq composite up just with over 2 . That is clearly a rally. Helped by the Federal Reserves bond purchases, thats money printing, a report from bloomberg on a possible trillion dollar plan for bridges, roads and 5g access in rural areas, thats the stimulus plan, a new one. Also helping, really helping, news from an Oxford University study, a breakthrough in the treatment of the virus using steroids. It significantly reduced mortality. We also have the rapid opening up of businesses all across the country and maybe an improvement in u. S. china relations. Mike pompeo meets senior chinese officials in hawaii tomorrow. And then theres this retail sales in may up 17. 7 . That reflects the partial reopening of some stores. It is a very strong number. The president just tweeted about it. Ill read it for you. Wow, may ....
Jackie deangelis in the newsroom and Edward Lawrence in washington. Lets kick it off with jackie on todays market rally. Jackie. Reporter good afternoon, melissa. Stocks were slightly higher on the blowout retail sales report in may, an increase of 17. 7 , the biggest monthly increase. Aprils sharp decline was revised lower this is good news as states are reopening and economy is getting up and running, there does appear to be a lot of pentup demand from folks not shopping while they were unlockdown orders but buyer beware. As you said in beijing, another lockdown after a cloughster of new coronavirus cases showing reopening may not be as easy as everyone is hoping it will be. Meanwhile stimulus hopes are helping stocks too. Reports considering the Trump Administration is considering a one trillion dollar infrastructure plan to help the conry recover. The money is expe ....