Jeff discussed on San Diego's Morning News with Ted and LaDona


Good Friday morning Jeff yes good morning had been Madonna happy Friday happy Friday Friday yesterday a good day for Wall Street yeah wasn't updating stocks are higher on most global markets today analysts say investors are weighing news about economies re opening and word that the U. S. and China have a constructive phone call on trade and weighing that against the data showing how much economic damage is being caused by the coronavirus and right now they're in a risk on mood we have the Dow futures up a hundred ninety one points swell in its jobs Friday but we what we already know that the job situation is bad has Wall Street already factored that in that's the that's part of it also Wall Street is looking past this yeah economists don't know how rapid the recovery is going to be but they still expect the third and fourth quarters will look a whole lot better than the current quarter the labor department that reports about seven minutes from now six minutes from now and it is expected to say that about twenty two million jobs were lost in April and that would be twenty seven times the worst monthly decline from the Great Recession eleven times the previous record which goes back to September of nineteen forty five that's when the U. S. was demobilizing after the second World War this virus has done more damage to more things than it's just yeah I'm just going and it's just on top of the the the people yeah hello it's just awful so it looks like things are look gonna look a little different if you go to the airport when we know it's travel is down something like ninety seven percent yeah and but now the airport screeners will have to wear masks that's new order from the transportation security administration more than five hundred screeners and tested positive for covert nineteen so this is really largely for the protection of passengers six screeners have died government and industry working group is now considering whether face covering should be required for everyone who even enters an airport you know I can't imagine that they wouldn't be I have to I have to fly to Phoenix next next Friday after the show and I've but I've already got my face mask in my car ready to go for that I I don't wanna be without one yeah well it the face mask you know remember collects Birchard will certainly way and more on this the the folks for that the general public the kind of face masks that we wear we go out is just in case we happen to be carrying the virus we won't spread it as readily it won't really protect you from someone else who may have suppliers right but I think you know I think it's from this is from the stance that every little bit kind of helps you know just to add to it just to add a little something I don't know up front here airlines checking passengers temperatures yep and print your alliances managed to keep its name in the news all week the latest the news from the Kerrier is that will be the first to check passengers temperatures frontier will assess whether people boarding its planes have fevers that starts June first not only for passengers but also from to your employees being screened still we also have a lot of businesses that are are going bankrupt yeah that's we've heard a lot of that of the pandemic really is crushed some companies that are household names experts say we could be in for the most jarring stretch of corporate bankruptcies in memory and very few industries are being spared the head of debt advisory and restructuring it PJ Solomon tracks the financial well being of hundreds of companies using a color code he says he's seeing page after page of red a J. crew in Neiman Marcus filed for bankruptcy this week and the J. C. Penney and hurts are said to be flashing red among other companies small and that's you know that's on top of the soup plantation here at San Diego company that's that's going out of business they just can't see a way forward with you know the buffet style of of eating and speaking of food yeah the meat packing industry is being investigated yeah this is a book largely not to do with the coronavirus sources say the justice department is looking into possible antitrust violations by meat packing companies this probe started prior to the start of the outbreak which has led to many meat plant closures meat packing is a very highly consolidated business only for companies Tyson JBS Cargill and national beef account for about eighty percent of the meat market in this country all right Jeff Ballenger Bloomberg thank you so much and we will talk to you next week okay have a great weekend yes all right the police have a message for you I have.

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