Good wednesday morning welcome to squawk alley. Im Caro Quintanilla with jon fortt. Deirdre is with us for the hour. Nasdaq is trying to come back after a couple of days of losses as we turn our attention once again to covid levels in the United States. Were going to start the hour, though, with alibaba, a big drop for the stock despite these new sales records on this singles day. Hi, eunice hey, carl live streamers in china are wrapping up whats been a very long day pitching to Chinese Consumers and it seems as though the efforts have paid off. For alibaba, the value of the orders that crossed the site have just come in at just shy of a 500 billion, about 75 billion u. S. Dollars these numbers cap an extended 11day campaign thats a little different this time around not the usual 24hour singles day shopping extravaganza. There were some interesting trends that we saw that were generally pandemic related, where consumers were looking to buy goods that they probably would be buying if th
Forced labor disclosure act of 2020. Important legislation introduced by representative wexton, a valued member of the committee on Financial Services. Group urs are a muslim and are one of a member of muslim groups that are persecuted, arbitrarily arrested, detained in forced labor concentration camps and even executed. It has been reported by human rights advocates that over one Million People are being held by the Chinese Government in detention camps across the uighur autonomous region. The government of the peoples republic of china falsely refers to these concentration camps as vocational camps or reeducation camps. Make no mistake, the truth is that today in 2020 one million human beings are being held in concentration tramp camps where they are beaten, starves and starved and forced to work long hours in conditions that can only be described as inhumane. Their relatives often have no idea where they are or whether they are alive. They are dying each day due to the cruelty of th
Uighur muslims. Also today possible work on a covid19 aid bill. Live house coverage here on cspan. The speaker the house will be in order. The prayer will be offered by our chaplain, father conroy. Chaplain conroy let us pray. God of the universe, father to us all, we give you thanks forgiving us another day for giving us another day. During these days, these few days before the house breaks for the final weeks of the campaign, send us your spirit of peace. Inspire the members to complete their charge, to promote the common good of our nation. Comfort those who continue to suffer from the coronavirus and protect those who labor still to treat the disease and bring an effective vaccine to the world. May all that is done this day be for your greater honor and glory. Men. The speaker pursuant to section 4 of House Resolution 967, the journal of the last days proceedings is approved. The pledge of allegiance will be led by the gentleman from virginia, mr. Cline. Mr. Cline i pledge allegian
They are finished speaking, consistent with the regulations accompanying a tourist night 65, the staff will only meet members and witnesses as appropriate, when not recognized in order to avoid background noise. Members are reminded that all house rules, relating to order in the courtroom, apply in this hearing. This hearing is entitled Insider Trading, stock option grants, and examination of corporate integrity in the covid19 pandemic. We know that we have votes on the floor, we will not have any delays of this hearing in order to allow members to vote. If members should go vote, and return, and while we all have part of the alphabet to vote in, im sure there can be some accommodation made so that when they return you can ask questions, and vote with the others not appearing on other alphabetical characterizations. And when im voting, i believe mr. Meeks, has agreed to serve as chair until my return. I will now recognize myself for five minutes for an opening statement. Our Capital Ma
A big move from stock, consumer launch from amazon big picture. This home in tech is about a new series of overlapping platform wars tiktok versus instagram. Sws versus aftezure julia, i would argue u. S. Versus china is shaping up to be a platform war platform war, jon, what youre saying is reciprocal trade. Were seeing this between china and the u. S. The question of whether it makes sense, safe for americans to have these chineseowned Companies Operating here in the u. S. Keeping in mind that u. S. Owned companies are not allowed to operate in china. Im talking about facebook i think its interesting to see how that dynamic plays out and this question of whether or not there should betiktok, mayb going to address that issue. Sand then apple, youre referring there, of course to this battle between epic and other companies that are participating in this new coalition. And apple in this battle over that platform. And those fees, right . Well, i am talking about that, and mike, im also t