Welcome, everybody. I think we have some leadership, about the theyll be coming in. Can you see, can you hear me . Is it working . Well, the election is over. Theyre still counting the votes and making legal challenges, and once all the legal challenges are made and the votes are counted, well have that done. Weve still got two outstanding races in georgia to determine the control of the senate and the committee will keep moving forward doing its work. We have next week social media oversight. I cant wait to have the social media ceos come to the committee and explain themselves about their platform, thats the 17th. I think theres a lot of bipartisan support to take a hard look at social media platform. The act is still business pending before the committee and after the hearing well have markup. But today we have mr. Mccabe, the number two at the fbi during the hurricane. I think hes going to appear remotely, so i appreciate him coming. And what ill do is make a brief Opening Statemen
Test test test test test test test test test test test captions Copyright National cable satellite corp. 2008 we have 2. 5 billion more out of work than were when we took office. This touches human beings. I was in a city in pennsylvania not too long ago near here, and there were about 4 or 5,000 people in the audience. It was on a train trip. I said how many adults here are out of work. About 1,000 raised their hands. Mr. Ford actually has fewer people in the private sector without jobs than when he took office. He talks about a success. 7. 9 unemployment its a terrible tragedy in this country. He would he learned how to match unemployment with inflation. Thats right. We have the highest inflation weve had in 25 years right now except under this administration, and that was 50 years ago. Weve got the highest unemployment under the Ford Administration since the depression this. Affects human beings. His insensitivity providing people a chance to work has made this a Welfare Administrat
500 futures up about one third of 1 . Ftse futures higher by 2 10 of 1 . Unbelievable to see a zillion euro in the mix a resilient euro in the mix. The story is the equity market yesterday. The more cyclical sectors, bottom of the pile in the u. S. And europe, Energy Stocks having a tough time of it in 2020. Annmarie they have. Both sides of the atlantic, energy getting pummeled. That brings us to bp results. The first of the oil majors to report earnings kicking off the week. Adjusted net at 86 million. The estimate was for a loss of 116. 8 million so that is something that will boost bp. Is expected to fall in the fourth quarter. So far, it is not looking too bad. Analysts were expecting a loss because right now, the refiners are having trouble turning a profit because demand is so low. When you turn that crude into things like gasoline, the demand is not there. The volatility buying all the oil and selling it at a higher price, that saves a lot of these majors in the last quarter an
Down 1. 6 yesterday, off of session lows. The dow industrials down 650 650 points, that was 2 and a quarter percent lower at 4 00 on wall street. Investors rattled over no progress on stimulus and a rise in covid cases. Its a big day for earnings, dow components merck, 3m. Caterpillar all reporting quarterly numbers this morning. We will get a snapshot of the airlines when jetblue reports and a look at big pharma when pfizer reports. The road to the white house, we hit the one week to go mark, americans are headed th to the polls in seven short days. President trump and joe biden begin the final push before election day. Stimulus negotiations losing momentum, time is running out for lawmakers to make a deal before november 3rd. House Speaker Nancy Pelosi says she remains opt my particular over talks optimistic over talks. Congressman tom reed told me yesterday if we dont have a deal by election day, we may not have one until february. Todays the day, my new book, the cost, trump, china
Minutes northeast of us if you were driving over to the airport. The former Vice President set to hold a drivein event in the next hour. Well be watching that as well. This state, this could very well be the state that decides the election. Well have you covered in pennsylvania for the next couple days. Lets get to our top stories on this monday. Fox Business Team coverage. Lauren simonetti watching the markets for us. Blake burman at the white house. Hillary vaughn in pittsburgh. First the markets on the election eve. Lauren . Lauren also the first trading day of november. It is just the second up day for the dow in the last seven but well take it. 422 points in the green. The s p is rebounding after its worst week since march. The big rally that we had this morning was juiced by the strongest manufacturing data in over two years. It faded and then it came back right at the close. We did see a rotation out of those big megacap tech stocks. Even some popular work at home plays whether