Noise the committee will come to order. Without objection, the chair is authorized to declare recess of the committee at any time. This hearing is entitled Holding Wells Fargo Accountable and ceo perspectives for the bank that broke americas trust. I now recognize myself for five minutes with an Opening Statement. Today, wells far go ceo, charles scharf, will testify before the committee about how he plans to end wells fargo egregious battle of abuse. Hes the third wells fargo ceo to testify before this committee and less than three and a half years. I will note that each time wells fargo ceo testified before this committee, he has resigned soon thereafter. Mr. Charles scharf, you have taken on a massive challenge and while i certainly wish you luck, it is clear to this committee that the bank you inherited is essentially a flawless organization that has caused widespread harm to millions of consumers around the nation. Wells fargo has opened 3. 5 million fraudulent accounts with their
Noise the committee will come to order. Without objection, the chair is authorized to declare recess of the committee at any time. This hearing is entitled Holding Wells Fargo Accountable and ceo perspectives for the bank that broke americas trust. I now recognize myself for five minutes with an Opening Statement. Today, wells far go ceo, charles scharf, will testify before the committee about how he plans to end wells fargo egregious battle of abuse. Hes the third wells fargo ceo to testify before this committee and less than three and a half years. I will note that each time wells fargo ceo testified before this committee, he has resigned soon thereafter. Mr. Charles scharf, you have taken on a massive challenge and while i certainly wish you luck, it is clear to this committee that the bank you inherited is essentially a flawless organization that has caused widespread harm to millions of consumers around the nation. Wells fargo has opened 3. 5 million fraudulent accounts with their
Comes to the opec meeting on thursday. Spread coming in at 57 basis points. And bitcoin. Is it going to be 10,000 today . Time for the morning brief. At 8 00 this morning eastern steven mnuchin, William Dudley on the hill of the sec will all be speaking in new york at a conference on the structure of the u. S. Treasury market. At 10 00 all eyes will be on capitol hill as Senate Begins confirmation hearings for Jerome Powell. And President Trump continues to campaign for a tax overhaul. He will be going back to the white house for a meeting with congressional leadership on how to avoid a government shutdown. Thats all coming up today. The big story into ec is Federal Reserve nominee for the chair, Jerome Powell. The gap appears to be narrowing between short and longterm Interest Rate raising concerns on the future of the u. S. Economy. Joining us now is drew matus, metlife and that achievement metlife management chief market manager. Are we expecting to see anything different from the c
Green, as the dow nears 24k. Well take a look at whats leading and bitcoin, well, guess what its seeing huge price swings. What is rocking that cryptocurrency and where will it be headed next amazon stock coming off the worst day in years, but the company, as you just heard, announcing a slew of new products and a plan to bring alexa into the workplace we are about 60 points from dow 24k. The blue chips and s p on track for an eighth consecutive monthly gain, heading into final trading session of the month, the dow leads the three major indices, up 2. 4 for for the month to date. Best gainers, walmarts up 12, nike, cisco, disney, depot its a good mixture i think a lot of it will affect some of this very good personal income, personal spending numbers, because youre hearing some major chains are people spent a lot of money it dovetails very well with what well talk about later, pvh, the strongest christmas in four years. Every one of those is also in some way or another shocking given t
Credit suisse. Mark barton in london with your data check. Mark looks as if the fiveday winning run is sputtering or stuttering. Choose your word. Down by 0. 1 today. The stoxx 600 boosted by results of the firstround of the french president ial election on sunday. The optimism is among investors that Emmanuel Macron will emerge victorious. Eurodollar, weve been as high as the november high yesterday, just crossing 1. 09. The recent rally also spluttering, stuttering, or spluttering. German 10 year yield was at a end of march high yesterday. Yields creeping up in germany and across europe. Towardsd a propensity riskier assets this week in the wake of the French Election. Nymex crude, big stockpile data today. Down by 0. 3 . 49. 39, francine. Francine stockpiles really in the last couple months have been able to change. Now, mark, lets get straight to the bloomberg first word news. Heres nejra cehic. Nejra donald trump is set to propose a 10 tax on more than 2. 6 trillion in earnings th