The chairs authorized to come to claire recess without any time we welcome everyone to the second of our series of investigating competition and digital markets, this one on innovation and entrepreneurship. I recognize myself for an opening statement. 30 years ago was released into the Public Domain to create a Global Communications Network Within a few Years Services were built onto the software to give people tools to communicate, share through a decentralized platform designed to be open and nondiscriminatory. The pioneer testified in 2006 on behalf of google that the overarching principle of the open internet was that no central gatekeeper should exert control over the internet. This open and competitive environment means that entrepreneurs for new ideas need not worry about getting permission for inventions to reach endusers. Over following decades the growth of our competitive internet revolutionized our lives, our work, businesses, and entire world. Millions of good paying jobs
The chairs authorized to come to claire recess without any time we welcome everyone to the second of our series of investigating competition and digital markets, this one on innovation and entrepreneurship. I recognize myself for an opening statement. 30 years ago was released into the Public Domain to create a Global Communications Network Within a few Years Services were built onto the software to give people tools to communicate, share through a decentralized platform designed to be open and nondiscriminatory. The pioneer testified in 2006 on behalf of google that the overarching principle of the open internet was that no central gatekeeper should exert control over the internet. This open and competitive environment means that entrepreneurs for new ideas need not worry about getting permission for inventions to reach endusers. Over following decades the growth of our competitive internet revolutionized our lives, our work, businesses, and entire world. Millions of good paying jobs
And apple inking a 1 billion deal with intel over its mobile smartphone business what it means for both companies. Its friday, july 26th Worldwide Exchange begins right now. Good morning im dominic chu. The four main stocks were watching this morning, its about earnings and m a, much more on these headlines coming up first heres how your money and the Global Markets are setting the day up stock futures indicating the dow will open up fractionally, just about 25 points or so. The s p up by 7. The nasdaq just by 62 after stocks ended lower yesterday on fears the fed will not cut rates as aggressively as previously thought. For the week, the dow is the only major index still in the red. The bond market now is moving slightly stronger here that benchmark slightly higher, just a hair below 2. 8 let us now go worldwide. On the asian side of things, the nikkei in japan down a half percent. The hang seng off twothirds of a percent. The shanghai up a quarter of a percent. In european trading, s
[inaudible conversations] the hearing will come to order. Today we will receive testimony from david marcus head of libra at facebook. On may 9 senator brown and i sent a letter shortly after it was reported that company was recruiting Financial Institutions and online merchants to launch a cryptocurrency based Payment System using a social network. We asked space bar for more information how the system would work, access and use of Consumer Financial information and facebooks access to use of information on individuals or group of individuals for credit or insurance or housing i appreciate facebooks response last week. Shortly after the letter was sent facebook formally announced its intention to launch the Payment System libra and issued a white paper providing information on the project. Since then us and Global Regulators have taken notice including the Federal Reserve, reserve, Uk Financial Conduct Authority and a stability board, g7 and others for the last week during the Federal
Biggest tech companies. Soared to a record high, with tmobile, netflix all adding fuel to the rally. Alphabet posting its oneday percentage gains since july for death july 2015. Joining us to discuss, senior markets editor mike regan. Facebook, twitter, all reporting results. Where do we see the biggest result biggest move . It was a major week for companies. Very tech centric. Theabet is the star of show, rising 10 . All seem to be firing on cylinders. Announcing that major 25 billion share buyback, that is taking the edge of edge off of the concern of the probe of alphabet. Also twitter doing well, showing an 18 gain for sales. Amazon was an interesting story. They had a big earnings miss, but it was in an amazon typical way. Developed a more robust oneday delivery operation, and thats the type of thing amazon investors in the past sort of embraced, even though it caused a hit in the shortterm. I think the Semiconductor Stocks are a major story this week. Instruments, semiconductors