[background noises] [background noises] [inaudible conversations] the command oversight and accountability will come to order. I want to welcome everyone here this morning. Without objection the chair may declare a racist at any the committee on oversight and accountability will come to order. I want to welcome everyone here this morning. Without objection, the chair may declare a recess at any time. Without objection, chairman of the ways and Means Committee, mr. Jason smith of missouri, representative matt gaetz of florida, a representative Eric Swalwell from california are waived onto the committee for purpose of questioning the witnesses at todays committee hearing. For todays hearing, opening segments will be limited to 10 minutes for the chair and 10 minutes for the Ranking Member. The chair also notes that points of order pertaining to the engaging of personalities against the president will not be in order for the duration of todays hearing. Given that this is a hearing regardi
Yesterdays gains related to treasury yields tapering off. Coming back down after really watching them march higher. Above 4. 6 . 4. 54 is the yield for the tenyear treasury. We have seen calming down at this point of yields. We will see where that continues. Late last night in washington, lets talk what happened. Republicans passed three of four spending bills in the house and a push to avoid the Government Shutdown. Lets go to Emily Wilkins in d. C. With more on it. Good morning. Reporter good morning, andrew. You are right. There was a little bit of victory for House Republicans. Lets be clear, congress has no plan to fund the government before sunday at midnight. That means we are looking to have a shutdown at this point. The house and senate on looking to have progress today to keep any sort of shutdown as short as possible. The house passed three of the longterm funding bills. None prevents a shutdown. The hope is to build support for a shortterm measure that members will vote on
Alphabet well talk about that. And thats one stock defying the selloff today. Youre looking at it, up 6 . Up 600 in a year. One of our guests called it a top pick so we invited the ceo to join us, and he will for an interview, just ahead. We begin with todays markets and the not so pleasant markets and dom chu. Not so pleasant, but a lot more pleasant than they were a couple hours ago take a look right now. What we are seeing right now is the dow down about 1 to. 25 the broader s p 500 back above the 5,000 mark it was below that level earlier this morning were off about three quarters of 1 . And the nasdaq, the epicenter of the downside, is down about 1 the nasdaq, 15,432 down 170 points to give you some perspective, at the lows of the session, the nasdaq was down almost 2. 3 . Now down 1 , so at least a dip buying at the time being lets take you to the epicenter trade, mega cap technology, the socalled magnificent seven type stocks the only one in the green so far today is nvidia. So
Bit higher. Maybe that is stopping things, maybe we are just waiting and seeing now for meta and the others that ended the day ahead. Sector action pretty swift, too. Leading the day today, that gives you the kind of day it has been pretty stable utilities in the green, so doesnt mean there hasnt been some standouts in the session both up and down. Visa is a learner after winnings, but teledyne is down 10 on its own results. Lets take ou to the talk of the tape. Will mega caps deliver, and where do stocks go from here . Lets ask cnbc contributor, back with me at post 9. Great to be with you, as always. You say you are more bullish now than you were t the start of this month. Yeah. Why . I think we have to put down draft on perception of hawkishness. We have some rates making some stocks sell off and i think the earnings industry doesnt look different to me than it did on april 1st, so when stocks go down, the earnings could change, i like that better. This idea of higher for longer was
Isjust not falling £300 billion in one single year. It is just not falling quite as fast as everyone had hoped, really. A lot of thatis everyone had hoped, really. A lot of that is due to the governments high interest Debt Payments which is not going to go away. I think in general this kind of dampens a bit of the chatter we have heard over the weekend about the chancellor hoping to cut taxes again in a fiscal event before the next election. That to cut taxes again in a fiscal event before the next election. Before the next election. That is the challenge before the next election. That is the challenge because before the next election. That is the challenge because the the challenge because the government, there was a they are raising taxes to fix Public Services or give the electorate some kind of gift before an election and that is when politics strays into economics and its not necessarily about what is better for the economy but what might win them some votes. Thats ri. Ht and mig