No limit, the ecb unveils a 750 billion euro bond buying plan to sue the markets. Christine lagarde throws the full weight of the central bank behind the single currency. The greenback becomes the haven of choice as u. S. Futures selloff again. Liquidity evaporates in the fx markets on fears of a lockdown in london. Stimulus from every angle, global fiscal support soars to trillions of dollars. I count almost 4 trillion of support. The rba cuts rates. Until the one hour start of cash equity trading in europe, and it looks like the wheels are starting to turn in little more risk on. Futures in europe are higher, they were lower minutes ago. Coming back as we see asian markets closed. S p futures still down 1. 6 , nowhere near the limit they bounced off of earlier. U. S. Futures also showing smaller losses than previously, as all this stimulus comes out. We are hearing talk of one trillion from the u. S. , 800 billion from the ecb. It adds up to about 4 trillion from Central Banks and go
Welcome to power lunch, everybody. Stocks are just off the lows of the day. The dow down b about 200 points. Still on pace for its Third Straight session in the red with apple the biggest drag and gold reaching 1600, its highest level in seven years and utilities leading today on pace for a record close the second best performing sector this year next to tech up 9 for more on where the money is move ng todays market, lets get to bob pisani at the new york stock exchange. Hello, again. Much of damage is cue to apple and theyre worried about krohn kro coronavirus. Exxon mobil, another new 52week low there and also were seeing some of the big global industrials like caterpillar, 3m pretty modest response leon cooperman was saying the the biggest risk to the markets is the u. S. Elections and this is the way a lot of the Fund Managers seem to think bank of america, 150, the biggest Fund Managers in the world. He said that, too. The 2020 election is the number one thing. Were all worried ab
From the honorable randal quarles, Federal Reserve vice chairman for supervision; the honorable jelena mcwilliams, chairman of the fdic; and the honorable rodney hood, chairman of the ncua. Welcome to all of you. This hearing provides the committee an opportunity to examine the current state of and recent activities related to the regulatory and supervisory activities of these agencies. It has been over a year now since the enactment of s. 2155, the Economic Growth, regulatory relief and Consumer Protection act, and the work of the agencies to implement most of the laws provisions, including the tailoring rules for u. S. Banks and u. S. Operations of foreign banks. Your agencies should also carefully review the existing supervisory frameworks and make any necessary adjustments to appropriately align them with the tailoring rules and requirements. On july 30, 2019, all of the Republican Banking Committee members and i sent a letter to the federal banking regulators urging your agencies
Lets look at markets. We are not saying much. Coming up, you will hear from this man. Our interview on risks and Financial Markets. And Brian Moynahan on the state of the american consumer. Lets get bloomberg first word news. Frozen pork, pharmaceuticals, some reductions from china, not related to trade discussions, but part of beijings effort to support the claim it is opening its economy. Weekend, aa tense Police Officer pointing his revolver at protesters. U. S. , President Donald Trump asked about ukraine aid before his call with the countrys president. The heavily redacted emails were by the Nonprofit Center for public integrity. They show the administration ordering a hold on aid in our after the phone call. Bush fires burning out of control in new south wales. Died,st nine people have hundreds of buildings have been burned down. The fires of being stoked by record temperatures in the region. Guy the s p is up, bonds are higher, gold is gaining. What about next year . Is joining
Order. I now recognize myself. I am. Sorry with that objection, the, chairs in our authorized to declare recess. Of the, committee and anytime. Members of the, committee not on the subcommittee, are authorized to participate in twos hearing. And, the, hearing is entitled, an examination of the federal housing administration. And its impact on homeownership in america. I now recognize, myself, to give an opening statement. Okay. There was a time, when i have a chase policies, explicitly denied access to the American Dream of Home Ownership. Two black families and people of color. Making only only on home a privilege, afforded primarily to white americans. Or contributing to the racial wealth gap as we know. It as of the third quarter, of 2019, the white homeownership rate is 73 compared to nearly 48 for that he knows and 43 for black home owners. Today fha plays an Important Role in the Housing Finance system. And is helping to ensure that access to homeownership is broadly available in