Robots to assist in social distancing well talk to the president of George Mason University about that schools hightech Higher Education plan power lunch starts right now thank you. Lets take a look at where we stand with the markets at this hour the dow and the s p are on track for their first weekly declines in a month its now down for the second week in a row. Down another 92 points today big piece of that, check out apple down again today now down about 4 for the week the stock is still up 90 from its 52week low. Its been a rough slog for apple. The bioteches are weighing os the nasdaq you can see the two themes playing out now as we look to close out the week health care and technology, the underperformers today. Theres only one sector in the green. Its Consumer Discretionary and just by a hair tyler. Thank you. Lets send it over now to kayla for news about the other story that is driving the markets today and that is those rising tensions between United States and china. Kay kayl
House. Power lunch starts right now welcome everybody to power lunch. When i buy, it is the peak when i sell it is the bottom. Thats my life story stocks, they are down this hour. The dow and s p 500 both on trek for a second straight down week, but the nasdaq is on pace to finish the week higher watch the bond market, folks yields on the twoyear treasury note hitting the beginning of the financial crisis a 1. 71 . Check out the etf that tracks energy we are on pace now for the first week in more than a year big moves in retail to tell you about. Abercrombie fitch up 25 on earnings ross is up 10 footlocker up 25 on its earnings more on that ahead the death of retail may be exaggerated. Were watching apple, the tech giant delaying a key launch of a crucial holiday product. More on this coming up melissa . Ty, im melissa lee twentyfirst century fox is reporting that verizon is also reported in acquiring them disney was interested in buying assets now it is at 30 and changeup by 3. 7 . Ve
The presiding officer the senate will come to order. The chaplain dr. Barry black will lead the senate in prayer. The chaplain let us pray. Almighty god, whose kingdom is above all earthly kingdoms, we praise your holy name. Forgive us for having left undone the things we ought to have done and for doing the things we ought not to have done. Deliver us from those forces that obstruct the making of a nation and world of justice, peace, and righteousness. Give our lawmakers the wisdom, courage, and strength needed for our times, providing them with u. S. S. Nantz out of the wealth of your celestial riches. Equip them to serve you and country with the full measure of grace, strength, and wisdom. We pray in your strong name. Amen. The presiding officer please join me in reciting the pledge of allegiance to the flag. I pledge allegiance to the flag of the United States of america, and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. T
They have a fourweek stopgap is some funding for chip for six years. Is within the House Republican conference chair. Atense hawks are frustrated the prospect of this being the fourth stopgaps in september. And the effect that has on defense funding. Theyre looking at potentially asking for money on the fence, whether that be a fouryear bill or defense anomalies. Negotiation continue around that. As of right now, there are no plans to change the bill that could change as negotiations are fluid. You have a headline today saying that paul ryan is caught between the Freedom Caucus and democrats. What do you mean by that . The reason he is caught between them is he needs one of their votes to get the cr through. If the push on this defense stuff doesnt work out, the Freedom Caucus specifically has three options. Two of which they have laid out. Plan a would be fullyear funding defense at higher levels. With just a stopgap for the nondefense agencies. Plan b is some defense anomalies. Lateb
Im rooting for it to shut down. Weve all survived shutdowns. The challenge it is politically risky for both republicans and democrats. Of theyre in a mudslinging fight and hoping the other part has more mud on their face at end of the day. Charles deroy, forget about the market, only one year was the gdp down. I get back to the point. Why are republican so afraid of this . They seem to think they will get burned. After the last shutdown they benefited midterm elections after that. Depend who defines the terms of shutdown. He should do Oval Office Address on friday evening as we go toward the countdown. Lay out deal he is willing to sign. Have the senate vote on it one by one, let democrats on camera decide if they shut down the government and allow the government to continue in operation. Shelby is right to separate between a market story and political story. To take the last shutdown we had in 2013, the market, participants in the market tended to focus what they were already focused