opentable came out and said one in four restaurants will never reopen.hat we have had this wave of protests, we are seeing new waves of covid-19 across the country. how does that look? that, it may be more than i hope it is not. we have thousands of restaurant and we expect many to currently shut down. that reflects a couple of things. operate onaurants thin margins already pre-covid. add the safety measures they have to take, capacity restrictions, and the higher cost of recruiting personnel to work on those restaurants. it's going to be tough for them. even in the best of times, it's a tough business. see ahink we are going to germanic reduction in economic reduction-- traumatic in economic activity. how dramatic a reduction in terms of the traffic and economic activity? steve: if 25% of restaurants close, i wouldn't expect the rest of the remaining locations to pick up all that much business. i don't want people to underestimate the creativity of restaurant tours -- of restaurants. here, restaurants that historically have never had outdoor spaces now

i love looking at the opentable data because that is sort of the quintessential precrisis thing, diningd it is improving. and i like to look at case counts. that may be catching people's attention. as people go back into the world and resume normal activity, we are seeing case counts pickup. what we really want to watch, are those case counts starting to inhibit the recovery and return to normal? arizona is getting a lot of attention. a lot of the arizona dining activity. they have had substantial spike in cases. texas as well. as people realized that the numbers are not going down, will people start to hit the brakes a little bit or slow down a return to normal? i think that is kind of what we are seeing in this market, that maybe people got a little bit complacent about the steady glide path back towards normality. caroline: fascinating. what is normal anymore? who knows. joe: that is the other problem. caroline: joe weisenthal, always keeping us honest. thank you very much. that was the cheese course, now you are on to your hard-core liquor. "bloomberg technology" is next in the u.s.

that is the kind of data we are getting from opentable, that reservations are going down.n that case, how does that show up in the data? it is really going to be hard to read these numbers today. lisa: it has been hard to read a lot of the numbers. i am wondering what insight we are getting on the composition of jobs getting cut at this point from a wage standpoint. edge hasthe leading been service industry jobs, particularly in the restaurants and leisure category. there are a bunch of people now who work at disney world and disneyland who will not be going back to work right away. do they go back on benefits? was there any effort by disney to give them something in the meantime? it is really hard to tease that out. we also get durable goods orders today. they will reflect what we saw with the jobs report last month, but does that mean anything if we see parts of the country potentially shutting down, even if the government don't call for it themselves, self shutting down. jonathan: it raises a really important question of how useful aggregate numbers for the economic dat

and we sfents opent out a push when we learned about the possible link.e the first to know about breaking news by installing our abc 7 news app and enabling push alerts. >>> in ll ur leaders drew this was over a 22-year-old that was shot and killed at a walgreen's last week. he was in a crouched position when they mistook a hammer for a gun. the officer who fired the shot was an 18 year law enforcements have gathering around now could have been here then. and then maybe mario, angela, willie, >> the state attorney general's office says that it will review the policies of vallejo p.d. >>> and chronicle insider phil made tear reports that at least 32 people have been arrested so far for looting in union square. looters run in and start loading merchandise into cars that pull up. and it appears well organized and had nothing to do with the protests at the time. you can read phil matier's columns every wednesday and sunday. >>> new at 6:00, take a look at this, a man was filmed clinging on the hood of a moving car during a black be liv"black liv protest satur

thee we add in things like opentable restaurant reservations numbers, or tsa passenger screening, toee whether people are actually getting out and spending money, because that is going to be the ultimate determinant of how fast we come back. pp have people on the payrolls, but are they going to have things to do? after the eight weeks, do they have to let people go? we are not at all clear about where we are. the economy is stronger than we thought. hiring not as bad as we thought. the labor market not as bad as we thought. but does that last? do we see spending depressed for quite some time, which would have implications down the road for jobs? mike, presumably, this is going to be a multiphase process, that when the economy reopens some people are going to need to be rehired, slightly more quickly than many would anticipate. jobstheless, the first back, i would assume they are relatively easy jobs back. places are opening up. they need staffing. as a result, people are going to rejoin the labor market. when does the crunch point really come? michael: it probably comes in july, in p

tired of the racism in our opents and structures an wound, a sin against you, taking the lives and denying the dignity of your children. we are called to more, to lament. may the dead rest in your piece. may our acts of solidarity and justice with the living day memorial to those who have died. lord, bless our hurting nation. bless and give peace to the ahmedies of george floyd arbery, breonna taylor and so many other families who have lost a son, daughter, father, mother, sister, brother, friend. who take to our streets to protest injustice. give them courage, wisdom and respect for others. bless all those who seek justice and peace when we. have too little of both bless those called upon to protect us. ave those in law enforcement commitment to equal justice for all, respect for the lives and dignity of all those who serve and protect from harm. give themleaders, wisdom, compassion, a thirst for justice. help them bring us together to advance liberty and justice for all. church, wounded by racism. may because your body, your people called to bring good news to the poor, liberty to captiv

when we look at opentable releasing its dining data, google maps showing us the transient nature andhe request for walking versus public transit, driving maps. monday heels of that, you have unprecedented amounts of stimulus coming into the economy. i do think there is cause for pause and concern. if we go back to the financial crisis, it took us six years to pump in the trillions of dollars we have managed to pump into the u.s. markets in a matter of three months. now we are talking about another 2 trillion on the table. today, we had conversations that shed some light. might be putting more stimulus dollars in the hands of the people in the u.s.. on the very last point driving the markets, is the election. it is really interesting to see where investors are hiding out. some of the storage stocks seem to be just that. tech, we have of the nasdaq up 13 present. obviously, part of this is investors in the stay-at-home portfolio. do see some evidence tech is starting to act as a haven trait ? nicole: absolutely. when we look at the nasdaq trading 30 times earnings, there should be a pa

but we also look at things like the opentable receipts.erms of returns to restaurants or the go google mobility data, it all shows you in real-time. obviously, it is not particularly useful for forecasting. this is the difficulty that a lot of economists have. a lot of those models were based on past data and we thought we could explain a lot of consumer behavior, so we are not used to being able to explain in a world of pandemic. we have learned a certain amount from elsewhere about changes in behavior and how quickly they will adjust from localized spreads or outbreaks of viruses and we are drawing on that date as well. anna: thanks very much. henry, hsbc global chief economist, share insight with us this morning. let's check on a couple of stocks we have been following closely, another that is part of a sector focus. wirecard very much at the forefront of the corporate story this week. we see that share price down by 32%. it is not worth anything like it was. fraudwas an elaborate that led to the missing billions. mastercard cutting tie