Yesterday carl was a discouraging day for a lot of people who have been chasing momentum because last week was maybe one of the best momentum weeks i can recall since 1999, which meant that if you bought it went higher and how much fun is that . Yesterday was the day that you bought it went higher and then you got crushed. So i think that usually takes a couple days of reset where maybe you can after stocks that arent as hot, say, as tesla. So you would focus, say, on Something Like the banks ive been through the banks and i know dave and i talk about this all the time, they are incredibly complex beasts, they are not like, oh, tesla, hot and when i first went over them i thought they looked pretty good but already theyre reversing. This is not an uncommon pattern as people find one line or two line that they dont like and then they sell these stocks. David, its happening once again. You know that these banks could have had littered with bad loans, its not, they have great trading, the
Lauren hey, guys a twoday sell i dont have was reversed. Major averages closing near the highs of the session. Nasdaq leading the major averages gaining almost 3 today. The nasdaq was led by big cap tech which was down for this week. Three reasons for rally. First more rescue funding from the government is likely on the way after the Senate Approved yet another relief package. Second oil prices recovering. Take a look where crude closed the session today, above 13 a barrel. That is much better than it had been. A gain of almost 18 . With that reis big gains for halliburton, chevron, exxon and the Energy Sector in general leading the overall market higher today. And third, investors look to Earnings Report that continue to pour in from guidance on the coronavirus effects on the economy. Here is the trends were seeing and were seeing it for chipotle after Earnings Report showed 81 increase of people ordering online getting food delivered. That is with were doing. That stock is up 14 . Sn
[background noises] [background noises] the committee will come to order. Without objection the chairs authorized to declare recess of committee at any time. Im before we begin secretary has informed us she has only two hours available for this hearing. So in the interest of time Ranking Member and i are remedying ourselves to very brief Opening Statements we are asking the secretary to do the same. Additionally we get as many members as possible a chance to ask questions. And in concurrence with the Ranking Member i ask unanimous consent to limit each members q and a to four minutes without objection. So ordered. Out also like to request unanimous consent to submit to statements for the record for bt the first is from chairman lucas who could not be with us here today. As you know he has had a terrible accident with a bowl, he is a rancher. And he is recuperating. We look forward to his return soon because his leadership is dearly missed. The second as a full Opening Statement from my
[background noises] [background noises] the committee will come to order. Without objection the chairs authorized to declare recess of committee at any time. Im before we begin secretary has informed us she has only two hours available for this hearing. So in the interest of time Ranking Member and i are remedying ourselves to very brief Opening Statements we are asking the secretary to do the same. Additionally we get as many members as possible a chance to ask questions. And in concurrence with the Ranking Member i ask unanimous consent to limit each members q and a to four minutes without objection. So ordered. Out also like to request unanimous consent to submit to statements for the record for bt the first is from chairman lucas who could not be with us here today. As you know he has had a terrible accident with a bowl, he is a rancher. And he is recuperating. We look forward to his return soon because his leadership is dearly missed. The second as a full Opening Statement from my