Its going to be into the afternoon. Afternoon hours so the rest of us from the bay to our inland valleys bringing plenty of sunshine and most importantly, some slightly cooler temperatures many daytime highs fall from the 90s to the 80s, 50s and 60s is where were at across the bay right now berkeley, San Francisco timber on 50s. Well fairfield conquered pittsburgh in dublin on the 60s. Later today, it will be 60s for San Francisco, well low 70s in oakland and mid 80s in san jose, dark. Thanks a lot on and lets start off with looking at what the coronavirus is shaping up that like this morning. There are 33 states now seeing cases on the rise from week to week. And this shows you that there are 8 states in the red that means more than a 50 increase in cases and where that vote in california. There are 25 states showing a 10 to 50 increase. Right now more than 3. 3 million infections have been traced to a here in the u. S. And a 135,000 people have died across the country florida right n
Just eight or nine pennys away from 40 a barrel. Markets hit session highs as President Trump this morning championed the jobs numbers while standing in the rose garden. He is now in maine meeting with commercial fishermen who were hit hard by the covid lockdowns he will during this hour visit a factory that makes swabs for covid19 tests. He compared the coronavirus lockdowns to a hurricane and he calls for the reopening of the economy and he shared his desire for additional stimulus including a payroll tax cut. Were following all of his moves in maine ahead of his remarks at the top of the next hour, meanwhile the protests over the death of george floyd in minnesota continue at this hour, you are looking at live pictures of demonstrate or s at the National Cathedral in washington d. C. , and more marchers in brooklyn, new york who just began their march minutes ago in prospect park. One ceo, is using his power and influence to make the workplace more kind. Bar founder and executive ch
Winning streak lets go to bob with more on the market bob. Its a little bit of indeterminent trading. We have been trying to get over the end of april highs we would break out of there and well be to the march. We have been stalled out here. Take a look at the sectors here. You can see in front of you, reits down banks have been drifting lower all month. Consumer staples out performing a little bit now down as much a couple of news announcements the fed niensannounced they wer going to start buying the Corporate Bond etfs. This has been real winner for people who tried to front run the fed anticipating they were going to be doing this up 16 in the last month wells fargo, all sorts of Corporate Bonds. Ge capital bonds are in this thing. The other piece of good news or interesting news is pnc. They own 22 of blackrock. They own i shares. They are selling that whole stake. This is one of the greatest invest ms of all time. They made need it for capital, Capital Improvements overall a lot
Were at the lows of the day thats where we are. About a 600 point loss for the dow. Nasdaq a bit more than that. The russell which has been a real outperformer giving back 5 now. S p coming off its best month since 1987 we have come a long way off the lows april was an incredible month. We said best since 87. Are we primed to go higher in may . Are we poised to go lower because of how far we have come . You know my answer is i can make the case for either way but what im going to tell you is the weekly closing candle is disgusting now we had a huge comeback but even at its peak which i guess was some time yesterday or the day before, only 0 of s p 500 names had gotten back above their 200 day. So you had almost a third of the market back in some semblance of an up trend and we rolled hard look whats rolling. All of those beaten up names that rally this week, the airlines, the oils, the stuff we said okay, thankfully those shareholders got a breather trashed again today. Rollovers and h
We have you covered on all of that. Could be another big week for the white house. As the Administration Pushes for more reopenings, the economy after the worst jobs report since the Great Depression on friday. More staffers put in quarantine at the white house. And war of words with china is escalating as we speak. We expect a briefing by the way, from the white house in just under two hours from now. A live report from d. C. Coming up to tee it you will for you. Plus tesla, ceo elon musk is at it again. Over the weekend he threatened to pull his companys headquarters out of the state of california. Well tell you all that and more right now. Cheryl treasury secretary Steve Mnuchin saying that the economy may be permanently damaged if it is not reopened and reopened soon. Coming as white house trade advisor Peter Navarro hammered china over its handling of the pandemic. Blake burman joins me from washington over the latest. And what is happens at the white house. Reporter cheryl, no se