Too quickly could lead to further outbreaks. Today the head of the Federal Reserve said americans must feel comfortable returning to work, and that he said would take a sensible plan, including testing, treatment and a vaccine. And as we come on the air tonight, more than 91,000 americans have been killed by the coronavirus in the u. S. , and there are more than 1. 5 million confirmed cases nationwide. At a Cabinet Meeting late today, President Trump did not back down from his decision to like hydroxychloroquine, a malaria drug the f. D. A. Has warned is not safe or effective for treating covid 19. The president called a study showing a higher death rate among veterans who took the drug phony, saying it was a trump enemy statement. Well, theres a lot of news to get to tonight and were going to begin at the white house. Cbss weijia jiang leads off our coverage. Weijia. Reporter all day President Trump stood by his decision to take hydroxychloroquine and even called on cabinet members du
Olympic legend Michael Phelps opens up about his struggles during the pandemic. Facebook exclusive tonight. Mark zuckerberg on the tech companys new product to help Small Businesses transition on line, and we ask about facebooks responsibility to stop dangerous misinformation. And an unforgettable lesson of dedication through quarantine and a battle with covid19. One teacher made sure to finish the school year for her the school year for her students. Captioning funded by cbs this is the cbs evening news with Norah Odonnell reporting from the nations capital. Good evening, and thank you for joining us. Tonight the treasury secretary is warning there will be permanent damage to the economy if the countrys lockdown continues much longer. By tomorrow, all 50 states will have started loosening some restrictions more than two months after americans were first ordered to stay home. Only two states have met white house guidelines to reopen, and experts say moving too quickly could lead to fur
Future. And launch america. Meet the first astronaut set to blast off from american soil in nearly a decade. Wow. First, heres todays eye opener, your world in 90 seconds. This is serious, and it is time for people to take action to keep themselves safe and to evacuate. Reporter dramatic video of a dam breaking in michigan. This after days of heavy rain pounded the midwest, and theyre not out of the woods yet. I knew it would be bad but not this bad. Not this bad. This is real bad. Its important for things to start opening back up. We cant be shut down forever. All 50 states have started loosening restrictions two months after americans were told to stay home. President trump was invited to a potato farm in virginia. They want to take your Second Amendment away. You know, that right . Youll have nobody guarding your potatoes. These people are sick. Pelosi is a sick woman. Shes got a lot of problems. A lot of mental problems. Reporter the back and forth between President Trump and House
Dow. Stocks are having a nice bounce on some renewed optimistic about reopening the economy in various states of the nasdaq closing in on going flat for the year oil is up on signs of gas repairing. A general believe in a Third Quarter rebound has some exists warning too much optimism too early. For that we will turn to steve lease man. Carl, good morning. The rapid update does indeed show this historic, unprecedented Second Quarter decline. A Third Quarter rebound. And i want to talk about that. The Third Quarter rebound is even more ingrained. Stocks trade on this idea after we get through the Second Quarter, you will have a Third Quarter rebound. Down 34 after minus 6 . Up 16 in the third. Up 12 in the fourth 7 in the first quarter. Not enough to make up for the year where the average of our 11 economists is 5 decline but take a look now at a bunch of outliars. They are contrarians on the street on this Third Quarter rebound. The q3 rebound bears bank of america, minus 1 . Rsm up ju
Good morning and welcome it is 5 00 a. M. On the east coast of the u. S im Frank Holland along with courtney reagan. Good morning lets get a start with the markets early and see where the futures will open this morning we are indicated lower the dow lower by 400 lets check on the bond markets and see what is happening. The 10year yield at 0. 77 all of this after the big rally yesterday. The dow jumping more than 1,300 points or 6. 4 the dow is on track to snap a threeday losing streak. Most my green across the board in asia. Different in early trade in europe, however. Matt taylor is standing by in singapore. Well toss to you first. Mostly positive session for asia pacific markets seemingly shrugging off the picture. Japan up about 4 . Japan logging the best weekend gain you can see at the 108 level australian stocks ending down. The government ordering all people arriving in the country must selfisolate in hotels. India cutting the repo rate by 75 basis points and an unscheduled emerg