Todays hearing on had committee of Small Business and entrepreneurship will come to order, and i want to thank everyone for joining us here today. I want to thank you both for being here though far away. And all the members for being here today. This is our first opportunity to hear from both of you about the enactment of the cares act in particular as it applies to Small Business. The cares act is landmark legislation. In less than 2 Weeks Congress passed the largest Economic Relief package in our nations history. And now after the passage of two further reforms the Paycheck Protection Program is the largest component of the Economic Relief enact by the cares act. Opthat point i just want to say a couple of things. First of all, it was the extraordinary work of many people, staff, of course worked tirelessly to make this possible. The partnership we had from both the sba and the treasury was extraordinary. Members on this committee, every single one participated. Obviously the leaders
The decision. And millions more people in the u. S. Lose their jobs but some stores are surviving without laying off staff. Chinas premier is about to outline the countrys plans for the next year after some of its most challenging months the corona Virus Outbreak that began in woohoo and forced it into a National Shutdown which was badly hit the economy and its still locked in a trade dispute with the United States well its just gone 9 am in the Chinese Capital beijing and this is the great hall of the people where the National Peoples congress is getting underway with more than 3000 delegates in his opening address premier league chang is expected to announce plans to tackle the economic fallout will katrina you joins us live now from beijing katrina this National Peoples congress was originally proposed because of the corona virus and how important is this years event given that beijing would want to show that its back to business as usual and claim victory over the pandemic. Well th
Washington journal program. Go through our social media feed. Cspan, created by americas Cable Television companies as a Public Service and brought to you today by your television provider. Cherry treasury secretary Stephen Mnuchin and carranza testified on the implementation of the cares act corona virus relief law. The Small Business Committee Members asked about the rollout and the effectiveness of the Paycheck Protection Program referred to as ppp. [inaudible] todays hearing on this committee on Small Business and entrepreneurship will come to order and i want to thank everyone for joining us here today and welcome both secretary mnuchin and administrator carranza. Thank you for being here so far away and all the members for being here today. This is our first opportunity to hear from both of you about the enactment of the cares act as it applies to Small Business. The cares act as landmark legislation and less than two Weeks Congress passed the largest Economic Relief ka package i
Little bit. We are seeing btps with a little but of a bid today. Euro with an offer. It is interesting that stocks are higher and the dollar is higher as well. Crude is also tracking a little bit higher. We are trading on the global 27. 95. K at european markets probably in a bit of a Holding Pattern right now. We are going to carry on the conversation on what is happening with some of these big global banks that are reporting numbers. James gorman of Morgan Stanley was the latest entry into the story today. We will be hearing from mr. Gorman very shortly. This is bloomberg. Welcome to our Bloomberg Television and radio audiences, live from new york city. Im erik schatzker. Morgan stanley reported earnings this morning, and it was mostly a strong performance, given the extraordinary period weve lived through, the volatility in march. With us for an interview is none other than the firms chairman and ceo, james gorman. Thank you for joining us. James thank you for having us. Erik you ha
Again today. Right now it is a positive day for the dow. Up 400, following the biggest decline for stocks since the great crash of 1987. The russell has gone negative. Josh brown, its been one heck of a week. What are you thinking about today after weve given, you know we gave up almost all of the 1,000 point bump were still hanging on to a few hundred. So couple things. One of the points ive been trying to make on the show recently is that security selection is not going to be the answer to how much pain you are going take in a moment like this and that was proven this week. The xlu, which is the utility sector, which normally in any Market Correction is not going to be disastrous, was absolutely disastrous im not even giving you the draw down from the peek im just going tell you this week the xlu is down 19 there really has been nothing save and yesterday of course, historic day at 3 30 there was ant single green s p 500 stock. Security and selection has not mattered i come back to o