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Expectations for users and ad revenue. A drug also showing some positive results that may have been getting investors some optimism. To facebook, tesla and microsoft in a moment. Lets bring in taylor riggs to wrap up the day that was. Information showing that gdp pal gdp fell 5 . Maybeas thinking that things were not as bad as we think and that there was a sign that things could stabilize if not improve. You could say that was going on in the markets all day long. We got that data of a 4. 8 percent drop in gdp. Markets were already shrugging it off. Looking ahead to that news that we got from gilead. Tech is doing the best stuff. 3. 6 today. Those smallcap stocks are also some of the biggest out performers as we talk about how to reopen the economy. Gilead sciences was the driver behind all of this. They were up 5. 5 . Helpedxperiment drug coronavirus patients recover more quickly. Some 11 days instead of 14 or 15 days that was initially expected. Dr. Fauci came out and said this was a ....
With the toll it is taking on the american economy. The president tweeting that he alone has the power to reopen the economy. States deathork toll numbers are flat, but at a horrific level according to governor cuomo. Unemployment numbers somewhere between the Great Recession and the Great Depression meantime, apple and google, two tech rivals teaming up in a massive project to help deliver Contact Tracing to americans and people around the world. The companies would Work Together to notify users if they come into contact with someone who tested positive for covid19. You just got off a Briefing Call with apple and google. Still a lot of questions about how exactly this will work. Fill in some of the blanks fo ....
The stimulus package, but senators still working through some sticking points. It has not passed yet. What is your read . Romaine the market clearly waited on that. Around mid today midday today there was an outline from Bernie Sanders saying he had objections to the bill surrounding unemployment insurance, and he was willing to hold up the bill if these issues were not addressed. That seemed to take some wind out of the rally. We were doing very well up until about then. Day,a little later in the there was some news crossing the wire on apple. Was reported that apple might push back the potential release of the 5g iphone that some any people were anticipating this year. Based on that, we actually saw the nasdaq composite and the nasdaq 100 give up their gains on the day and move into the red, even though the broader market, the s p 500 in particular, remained in the green. But there was concern. Apple was actually up about 5 on t ....
To talk about the markets. I will bring in romaine bostick. Romaine of course, the worst yesterday. 987 we retraced some of those losses today, about 6 . Almost all of the sustained buying, defensive stocks, talking about utilities, real estate, consumer staples. Utilities attractive at this stage because a lot of these Companies Pay dividends. When you talk about consumer staples, we are talking about , a lot of the goods, like food, cleaning supplies, and other sort of essential staples. Another aspect we saw, recommending stocks that they say are great places to hide. Facebook,ut amazon, saying the workathome movement we are seeing here, of course with you being sheltering in place, that that will be a boon to companies that deliver like amazon, or like facebook. They are also recommending Companies Like walmart. Again, the stocks moving higher are those that stand to benef ....
Cue ramy on right on cue, the foreign minister put out his response to this that the act out of the United States is an active International Act of terrorism. Were going to get you more details on this story, information thats been for the lastough two or three hours or so. The state of the markets are looking like this. In terms of risk assets, going into the lunch break in hong kong, u. S. Features down 20 points, dollaryen low to the day, still fairly strong on the japanese currency, fly under the asian benchmark, and gold is 15401550. Wards 4 , but still substantial gains. He was features are looking like this u. S. Futures are up my mistake, moving up as london joins wakes up. Good morning to you. Well get to the latest on all of this. Jodi schneider is onset. And we have another reporter joining us. Jodi, im going to start with you, the significance of this act. Jodi ....