i m andrew ross sorkin with joe kernen and melissa lee becky is off again we are about 111 points up now s&p 500 looking to open about 11 points higher. flip is around and show you we are at .952. still under the six handle i always wonder what the bond vigilantes are thinking now relative to our little equity world. worth noting we are still 3% well away from the february record highs some highlights. the ceo of tractor supply, auto nation venture capitalist, treasury secretary mnuchin, house leader and twitter ceo. a huge lineup straight ahead that s a big show yeah. you guys always have a big show but this is particularly large. for you because you are here people said, melissa will be on book her i think they wanted to do it for you but i think they were scared if they didn t do it of me that s the feeling they got they didn t want to disappoint you. i doubt it that s nice to say but i doubt it i m not a scarey person. i m not. maybe to you nows this morning
every direction. the s&p saw an even bigger gain. the nasdaq up by almost 3.6% the dow futures also up. keeping an eye on the treasury department seeing how the fed news will play out there the fed news is back about 0.6%. sitting at 0.612%. if you watch oil prices, which has been a big indicator of demand around the globe and what is happening, this morning, wti is up about 16%. all the way back up to $17.49. wow, all the way back up. 17 unbelievable let s get an update on the pandemic the number of global cases that we talk about nearing 3.2 million. i don t know how good that enough is for anything we have more than a million in the united states. new york state cases near 300,000. i don t know of the reliability that state prisons near 7% testing positive breaking overnight, california governor plans to order all beaches and state parks to close tomorrow to avoid repeating last weekend s violations hot weather, the police memo leaked to several media outlet s yesterday.
it is an earnings trade today. we will get into that in a moment. 8he 10-year yield at 50 i basis point. not really moving around that much. bid, pushinginy the 10 year to 58 basis points. story today is facebook and twitter. down 5%, a quarter of advertising revenue for twitter, even as an added subscribers. let s get a deeper dive. taylor riggs is standing by. taylor: mostly risk off, but tech is not as bad, given earnings are coming in a little bit better than expected. there has been a recent shift in the conversation that tech is being thought of as defensive here, holding up better than people thought. take a look inside the terminal. a lot of the negative price action that we are seeing stems from that consumer spending report we got, the worst ever dip in consumer spending. income and spending was weaker than expected, which means some analysts think that first-quarter gdp data will need to be revised lower as well. i want to look at what happened overnight within the
business lending facilities to keep credit flowing as u.s. job losses surge past 30 million. shery: let s get started with a quick check of the markets. we are seeing pressure on u.s. futures, falling more than a percent at the moment, after the s&p 500 fell from the seven-week high. but yes, it was the best month since 1987. we saw the s&p 500 climbing 13% this month. we have more pessimism about the economy today. we had dismal jobless claims data. slowing down but elevated. we have positive sentiment being filtered through with the fed expanding the scope of the main street lending program. also, the nasdaq was helped by results from microsoft, facebook, and tesla. when it comes to wti, we continue to see extended gains. it is trading near $19 per barrel. this, as we saw signs of fuel consumption start to recover in the u.s. we have a few markets that are closed across asia. china,cludes hong kong, singapore, india, and many more. limited trading in the asian session. haid
in the latest earnings report? details ahead. and twitter mrs. third-quarter revenue estimates. we find out why new user growth did not translate into ad sales. facebook dominated of the week in tech with mark zuckerberg defending his social network before congress on wednesday. what was scheduled as a hearing on the cryptocurrency libra also included issues like antitrust and privacy. is in a currency? are you a bank? what is this association? it is a very complex project. and as you say, it is risky. do you consider libra to be money? i consider to be a payment system. it s like me having my money in wells fargo bank. you could think about it that way. the we are not a bank or applying for a bank charter. that is the problem. that s what we re facing. we are not going to launch the system here or anywhere else around the world until we get approval from relevant egulators. the american competitiveness angle and cognition with china is a national security i