West Texas discussed on Bloomberg Businessweek

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Up by about one tenth of one percent West Texas intermediate crude fell one point six percent thirty seven seventy eight a barrel three thirty three on Wall Street time now for the small business report and here's John Tucker the second stage of new Jersey's reopening is under way across the state help towards dining is allowed with restrictions and retail businesses are open for limited indoor shopping but other customers coming back what kind of depends Angela cover dollars co owner of Hudson cafe at the Jersey Shore and cancel what kind of effect because the the pandemic first of all head of your business after usually during the winter you know we're pretty packed inside specially on the weekend I'm not really that big of a to go business the pandemic kid we did not close and we said we were gonna go to strictly you know curbside pick up only and that worked out for us you know we're at about fifty percent of all our previous business was but it's still keeping us you know going outdoor dining is allowed to resume with restrictions in New Jersey how's that going we are just doing our still are curbside pick up only because you only have about four outside people have you gotten any guidance as to when the indoor can open I just heard on the radio this morning that governor Murphy said that you know worried we might instead of the months out from indoor dining it might be weeks so that's very exciting for us because you know we we missed our customer intimacy in all the phases and stuff like that Angela thanks a lot Angela Capitan of the Hudson cafe in New Jersey best of luck that is your bluebird small business report and John Tucker we thank you fed chair Jay Powell urging Congress not to remove fiscal support to fast again recapping equities trading mixed S. and P. lower down five down two tenths of one percent I'm Charlie public that is Bloomberg business slash all right Charlie thank you so much you are listening to Bloomberg business week right here on Bloomberg radio in concert at Radio City Incredibles yes did you see Kelly Clarkson recently recently did something to online can't remember what the song it was interesting what I what I would say who testament who may not be my faith yeah mate maybe not in the in the top five who knew very appropriate yes for today it was a good song Dave Wilson delivered for you yes he did you know I don't forget that album also had freeway of love with a sax solo from one Clarence Clemons C. and today it all right back to the great state of New Jersey and it was most famous resident after present company Carol Massar Dave Wilson thank every spring scene and his band what is it that Z. street band this industry I don't see any case zoom at General Electric this is a great chart Dave tells about it well yeah I mean the reason I picked the song is it's all about zoom zoom video communications if you want to use the full name in the corona virus pandemic there video conferencing software has gone well beyond the original audience of of business users new families use it groups use you name it I mean it's all over the place and what's happened because of that is this company has become all whole lot more valuable and you know I saw this comparison a couple days ago by Michael back Nick who's the director research over results well wealth management aerials is firm and he was comparing the market value of zoom to Goldman Sachs it's getting close but it's not really that close at this point so is there a look around to try and figure out a comparison that would perhaps be more significant and blow everyone's minds zoom thank you has a higher market value than General Electric happy Easter which really is a mind Bari think he was once the biggest company in the world by market value now a lot has changed over the years and certainly this year we've seen the corona virus have an affect on its businesses with the think about jet engines or power turbines lot of their products distorting demand the way that they were in you know the medical equipment business are big and hospitals have other things to think about at this point besides buying new gear so when you put that all together you see G. E.'s market value dropped thirty two percent yesterday whereas zooms more than triple so here's how the numbers stack up then zoom at sixty eight point four billion dollars G. E. at sixty five point three billion actually June first crossover G. a month ago but just for a day and you know this week it's been about they're pretty consistently so it seems like the right time to highlight this particular comparison if you want a more folks sent me an email I get to the chart gets mentioned goes with it and everything I do going forward the email address is D. Wilson at Bloomberg dot net that's D. Wilson at Bloomberg dot net I love this right it's just and we will see Dave right longer term whether or not to you everything that's happening now becomes kind of a fixture in our in our world because you just you just don't know and whether or not it really kind of grows into that valuation it here's a comparison for you a quick one will actually listener John pointed out to me you've got zoom trading at thirteen hundred times earnings yeah she's a fifty yeah yeah yeah interesting and important comparison to Wilson thank you so much we'll talk to you in a bit right after the close of trading thank you for that I kind of hated that yeah this nice little boost this with those who didn't have talked about zoom actually with Jim Coulter we're gonna play that coming up in a tie it all together rate let's get down to the scene into lines there world and national headlines yes thanks Jason former national security adviser John Bolton writes in his new book president trump.

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