they were hoping for a pickup in the second half of the year, but xerox is now becoming in question xerox said the continued uncertainty around the spread and resurgence of the virus has changed our prior expectation for an inflection point following the second quarter according accordingly, we now expect a slower pace of gradual recovery in the second half of the year neal, i'll begin with you. what is your expectation fort back half, or is it even possible to have one >> i think there is, kelly you have to look at it in terms of how a manager manages his money. this is where an active manager takes advantage of the index with this coronavirus pandemic that we have, there is a lot of opportunities, because what you're looking for is personal trades that are changing so you look at people that are staying home, remodeling, putting in garden beds, finding appliances, so like a whirlpool. or you're looking at people moving out of the cities because there's no nightlife you could look at a toll brothers you could look, for instance, at crown holding that he with talked about a little over a

that's what xerox said another bullish option said second quarter is the bottom the trend is improving from here that's what the battle is now. >>> the economy has the long road to recovery especially when it comes to unemployment rate. there is some good news. a new cnbc survey shows that most believe the number of unemployed has peaked. steve is here with the results for us steve. >> people should put on their seat belts and may not be taking them off for a while if you look at the unemployment rate, we are a long way coming back take a look. 3.5% is the number we went into this for the unemployment rate that came up to 11.1%. most in the survey believe it has beat it doesn't get back down it stays around 10% by the end of this year and even 7.3% more than double at the end of next year when will the economy be fully restored the average response, q2 '22 how about the recession declared to have begun in february. 33% think it's pretty much gone now. that's what that response indicates. another 20% call it, think it will be ended by the end of this year 38% think the recession will go

this is an agent requesting to prepare the following letter, xerox copies would be sent to teamster union locals to the philadelphia pennsylvania area. the first an honest letter, here's the letter, do union boss, i am the loyal union men who wrote around to the end of january. i have more news for you. you will remember that i told you then that i had heard from my comedy brother-in-law, that the leaders of his party had been in moscow, and among the instructions they came back with which to try and get rid of the hoodlums and dock unions in this country. i was talking to my brother in law a few nights ago, and he asked me how things were going, i said okay. he told me he knew that there were a lot of gangsters in my union, but he told me that things would be changing for the best, shortly. he told me that in february, some of the leaders of his party were in hungary, meeting party people from other countries and it came up again, about how his party is going to clean up the gangster unions in the united states. i told him he was all wet. but i didn't use those words. i'm afraid these co

and these would be xeroxed or ditto. by groups like the radical left. that you could buy. there was very little of it. he died because he was a christian scientist. when he have cancer he didn't treat it. i think there's two more questions we can get to. or three more. the next question is the current trends could you speak about the thrill of others. in order to gain social credibility. it is everywhere. one of the most heartbreaking parts of all of this studying of the social movement is the fallacy that there is a way to make sexual deviants or queers more palatable to make the rights of some of them more palatable. like as you said. the book talks about one of the first instances where i found that happening first with frank and his dress code i think it was really him unfortunate. maybe it was unintentional. you get the influences that are occurring. because of her and becomes an unincorporated incorporated organization in the state of new york because she is the first one to get arrested for their city council petition in 1970 she finds the attorney legitimate ties i

and then following thursday, he followed me into the xeroxing room, slammed the door, turned the light off and really backed me up against the wall and this time he really went to me. he tore my blouse, twisted my nimbles of a scratched and scream and return out and immediately reported it to two senior people. to no avail. sebastian pretended we were -- a piece of horseplay, he said, and ho went along with it because the fact was no one at that firm wanted to get in sebastian's way. he was too important they south he wasser rear placeable. ... when i told that story i turned to the audience. there was for hundred fantastic women and i said this week i'm telling the story and it's the first time i've ever told it. and the reason i'm telling it as we've all decided we've had enough. and along with other women this week, i too am claiming the #metoo. and they went wild, they stomp the floor, went wild and stuff like that. obviously i did not just tell my story, i went back to work, and took upon myself a new initiative that committed all kinds of resources. another thing is data in terms

xerox says they're no longer expecting an inflection mark as covid spreads. >>> pfizer announces a latetage trial for a potential covid vaccine. we'll speak to the

xerox said this essentially today.the continued uncertainty around the spread and resurgence of the virus has changed our prior expectation for an inflection point following the second quarter we now expect a slower pace of gradual recovery in the second half of the year." so there's one story, reopenings going slower and yet the bulls are maintaining the second quarter was the bottom, and the numbers are getting better and they have some support the earnings estimates for the third quarter on the s&p are getting better they were down 25% a few days ago, now only down 23% it's rare for the numbers to go up in the middle of an earnings quarter. there is some support for the idea the second quarter was the bottom if you don't believe that, head to mcdonald's this morning, essentially said that things are tough but "i believe that the second quarter represents th trough in our performance as mcdonald's has learned to adjust our operations in this new environment. the two stories competing for attention, one the reopening

everyone was right about how promising the future was for mcdonald's, procter & gamble, coca-cola, xerox everyone was right those were going to be the growth companies but the share prices you had to wait 10 to 13 years to get back to where you were in the mid-60s sick by the time you got to the '70s, you were negative in those names. that is something that could happen, not only tesla but pulling ahead enthusiasm at a certain point it will matter i don't know when. >> initiating coverage of the sector today ahead of next week. the firm says it favors capital markets over traditional banks citing uncertainty around credit risk, dovish fed and negative implications for interest rates as reasons to stay traditional on banks names goldman sachs and morgan stanley rates jpmorgan and state street as buys remaining neutral on bank of america and wells fargo. we've been talking in recent weeks. we go to snapshot of the bank index and you see how much we've pulled back since the highs a moment or so ago down some 20% when, of course, the rest of the market has plateaued or risen to that point, t