Good morning, everyone. Welcome to the june 15th, 2020, meeting of the rules committee. I am supervisor hillary ronen, chair of the committee. With me on the Video Conference is rules Committee Vice chair supervisor Catherine Stefani and rules Committee Member supervisor gordon mar. Our clerk today is victor young. And id like to thank sfgov tv for staffing this meeting. Mr. Clerk, do you have any announcements . Clerk yes. My apologies. Due to the covid19 health emergency, and to protect board members, City Employees and the public, the board of supervisors legislative chamber and Committee Room are closed. However, members will be participating in the meeting remotely. This precaution is taken pursuant to the statewide stayathome order and all local, state, federal and declaration directives. Committee meetings will attend the meeting through Video Conference and participate in the meeting to the same extent as if they were physically present. Public comment will be available on each
Apple have shut a number of Stores Across the country. Microsoft shutting all of its Retail Stores today. Joining us break it down is Abigail Doolittle who has been following all of the action by a rough day for stocks. This virus is really starting to weigh on investors. What do you see . Abigail stocks are lower in the selling pressure never relented. We have stocks responding to data as it comes out with the big drop on the data from the u. S. The nasdaq and s p down. Confirming the risk off, the fact that haven bonds rallied once again. We will bring welcome to the picture. Investors want out of risk. This week, they are not tiptoeing, they are running out of these risk assets on fears , perhapsaps the virus this is the first wave. That it could hurt the u. S. Economy. Emily you have been talking about havens rising as stocks have been down. What would you point out . Abigail it feels as though this week is new in terms of this risk off. And wednesday, we had a big down day and a b
With china but will this rally sustain and later lose is seeing a major battle at the prospect of a bailout looms we bring you the latest from the ground in berlin with a packed show today so lets dive in. And we lead the program with the latest steps in reopening europes 3rd largest economy british Prime Minister Boris Johnson announced the loosening of coronavirus restrictions within the u. K. On tuesday. Speak i can tell the house. That we were all so. Restaurants and parks yeah. All hospitality. Will be limited to Table Service and dog guidance would encourage minimal staff and Customer Contact close proximity venues such as. My cars. Soft play areas indoor. Swimming pools and sponsors who im afraid need to remain closed for now. The Prime Minister also mentioned hairdressers in the country will be able to return to work as well all of this will take place starting on july 4th johnson also spoke about continuing measures to mitigate the spread of the virus. We want to stay in contr
Of millions diagnostic tests school plans should last for at least one year while the government pursues a vaccine at warp speed faster than we have ever done thate before the nobody expects vaccine this august the second half should be better able to provide more test, more treatments better Contact Tracing and hopefully we should have a vaccine in the fall of 2021 before we begin to approach normal. Several Reasons School have the advantage to provide a safe environment for students and faculty is younger people have been less hurt by coalbed 19 than older people although doctor fauci told our committee we should be careful to assume that young people are not at risk second, schools are generally oolll communities but generally supervised and monitored and they could be traced if a child becomes sick then the classmates can be tested and for individual schools are able to remain open schools are not unfamiliar with outbreaks of flu or other illnesses that have temporary closure of in
Albertsons ipo. All of the stories that we cover so closely i know. And banks already rallying today off that deregulation news earlier on the day theyre up 1. 6 at the moment. The top of the s p 500 sector. We have a huge show coming up on closing bell. On the day, we get the stress test results that sara mentioned. Well be talking to the ceo of barclays in a rare exclusive interview. Thats just about five to ten minutes away after the close, the they will join us this is the sign for the first time in months so lets get the pictures here mike santoli is here for the markets. The moves and valuations he is tracking the surging covid19 cases across the u. S. Mike, first to you. We have a pause today in the markets within a pouz. That is similar to a couple weeks ago. We this that big down day number real sustainable followthrough to the down side why is that . It doesnt seem like theyre overleveraged in a way that kree auts a liquidation cycle on the down side. There you see that flat