[gavel pound] the committee will come to order. Today we will receive testimony from Federal Reserve chair janet yellen, regarding the feds semiannual report to congress on Monetary Policy and the state of the economy. It will come as no surprise to you, chair yellen, that improving Economic Growth is a key priority for congress this year. Priority for congress this year. 2016 was the 11th Consecutive Year that the us economy failed to grow by more than three percent. One way to improve our Economic Growth is to study and discuss areas where regulations can be improved. Since the financial crisis regulators have imposed thousands of new pages of regulations. We all need to better understand that combined impact of these rules on lending, liquidity, cost for small Financial Institutions and broader Economic Growth. It is time to reassess what is working and what is not. I am encouraged by President Trumps executive order on Core Principles for regulating the Financial System. Directing
It is 2 and a half hours. The committee will come to order. Today, we will receive testimony from janet yellen regarding the feds semiannual report to congress on Monetary Policy and the state of the economy. It will come as no surprise to you that improving Economic Growth is a key priority for congress this year. Was the 11th Consecutive Year that the u. S. Economy failed to grow by more than 3 . One way to improve our Economic Growth is it to study and address areas where regulations can be improved. Since the financial crisis regulators have imposed thousands of new pages of regulations. We all need to better understand the combined impact of these rules on lending, liquidity, cost for small Financial Institutions, and broader Economic Growth. It is time to reassess what is working and what is not. Im encouraged by President Trumps executive order on Core Principles for regulating the Financial System. Directing the treasury secretary in consultation with the heads of the other mem
Activision. Aig out with results after the bell. Earnings and revenue were a miss. This as carl icahn has taken that large stake calling for a breakup. Ceo Peter Hancock will join us at post nine in about a half hour from now to talk about the results and the activist. And a strange turn in the fight over the Keystone Pipeline. Transcanada, the Company Behind the project, now looking for a delay asking the government to suspend its application. First up, activision blizzard, the home of games like call of duty and world of war craft buying king digital, 5. 9 billion. A 16 premium to kings Closing Price on monday. Earlier on squawk, the ceo said its more about broadening the companys reach into mobile gaming. Mobile is important, but also attracting women to gaming is an important part of our strategy. With king, 60 of the audience is now female, which is a really great expansion opportunity for us. And theyre in 196 countries around the world which is something thats exciting. Combined
Half hours time. It looks like investors do not anything germanic ahead of that on a macro basis because the s p and dow slightly lower. The nasdaq slightly higher here today. Gross closer to resuming and surpassing its record high. Take a look at my bloomberg terminal. I the intraday moves going back to six months. The record high was reached back in july, july 20 to be exact. We are 1 below that level. Indo see a rally for stocks december. We could see not only the nasdaq but other averages once again surpassed those records. Today, yahoo ogy is in focus. The wall street journal reporter that the company was considering a sale of its main core internet business, leaving olli alibaba states. Qualcomm is an outperform after coming to an agreement with xiaomi. It is a 3g and 4g patent agreement that will allow for royalty fees. This is important because qualcomm had said last month that it was maybe having issues with negotiating those speeds with its chinese customers. You can see the
Markets struggling a bit in large part because of apple. Shares are slumping after iphone sales posted their slowest year on Year Growth Rate in history. Josh lipton spoke to tim cook and joins us with more. Carl are the best days for iphone growth in the past . Thats what investors are asking this morning. Thats why so people think apple is breaking out the growth of the Services Business. That includes apple pay, app store and itunes. Apple revealing there are now 1 billion active apple devices which generated 5. 5 billion revenue in the First Quarter and that was a new record but rbc asked whether apple could be highlighting services because iphone unit verss have peaked. You take a look at unit sales. The iphone had been on the upward trend and now the worry is apple hit a growth ceiling. There was fractional growth in the Holiday Quarter and ubs estimates a drop of 15 in for q2. Tony on the call did question tim cook about whether theres now a saturated smartphone market. Cook dis