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Stock Market: Live News During the Coronavirus Pandemic

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Yeah all right so I can we check our four oh one K.'s yet it looks like over there might be some good news yeah you can kind of peak between the fingers anyway because the stocks started the holiday shortened week with a nice rally the Dow is up by five hundred thirty points more than two percent day yesterday market got a boost from optimism about work on vaccines and signs the economy is starting to re open this the number of new coronavirus that cases slows there were reports yesterday that showed pickups in new home sales and consumer confidence and the stock market futures are higher this morning Dow futures are up three hundred fifty two points so we could to be on a bit of a trend still it there's a little bit of optimism I mean we are beating here in San Diego hair salons are back open which you know every woman is like here thank you please cut this off use that myself all of us shop so it is so we're looking at the the optimism giving the market that boost yes we are and there are some other positive shoots a home loan demand is the continuing its of recovery mortgage bankers report this morning the number of applications for new financing rose eight point six percent last week at the highest level since January purchase loan request of but then up for six weeks in a row now they're up more than fifty percent since the beginning of last month apple will re open another one hundred of its U. S. stores this week though more than half the outlets will offer curbside service only and move move a lot of talk about the CEO of JP Morgan chase was cautiously upbeat Jamie Dimon says he sees in his words pretty good odds of a fast economic rebound in the third quarter so look the best yeah let's talk about you know every kind of business it's moving people from one place I mean we're talking planes trains and especially Amtrak right now yeah experts filed for bankruptcy late last week and yes now Amtrak is preparing to slash its workforce by as much as twenty percent even as it prepares to add back some roots CEO bill Flynn sent an internal memo to employees saying ridership and ticket revenue have declined by ninety five percent yes whoa ninety five ninety five percent wow okay let's talk about let's try to do something that's more positive how bout this Walmart partnering with thread up yeah this is interesting at the thread up if you're not familiar with them as a company that sells second hand clothing online the resale clothing market has been growing a lot in recent months and years even though the giant retailer is looking for ways to diversify its these commerce business beyond groceries and consumer staples a Walmart dot com will offer used women's and children's clothing as well as accessories handbags and footwear nearly a three quarters of a million products and all all right let's get down to the last story is that this pandemic expected to have some long lasting financial impact on just about almost everybody right you you started out talking about you're asking about four oh one K. plans and Bankrate dot com's done a survey and says thirty one million recently unemployed adults with retirement savings have tapped those savings are planned to do so very soon nearly a fifth of working a recently unemployed adults work ours say they're contributing less now to their retirement accounts than they were prior to the pandemic and that's mainly because of lost income or the need to keep more cash on hand to cover additional expenses some people say they're helping of relatives who are out of work that happens a lot well yeah I I don't think I know I don't think that there's one person within my acquaintance that has not somehow had to financially juggled either helping somebody else out in their family or with you know it within their own household I mean everybody's been touched by this if we can just hope for a quick turnaround you know some some people are very hopeful but there there are naysayers as well so keeping our fingers crossed and and hoping the optimistic people are right yeah all right Jeff Ballenger from Bloomberg thank you so much Jeff okay have a good

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