Hour the hearing is still going on behind me, but already there have been several fiery moments, including some from senator sherrod brown, the ranking democrat on the committee. In his opening statement, he compared facebook to a toddler playing with matches and said that it would be delusional for anyone to trust facebook with their finances, when the company has already broken so many promises on privacy. He then tried to get david marcus, a facebook executive whos testifying to make his own promise, and that is to receive his salary in libra. Senator, if your question is whether i would trust all of my assets in libra, the answer is yes. Do you trust this enough to make your compensation paid fully in your currency senator, i would, because it is backed one for one with a reserve. You could have said yes at the beginning of the question, then senator, with respect, i wanted to clarify that were not trying to compete with Bank Deposits he has said that statement repeatedly, that fac
Platform. Some republicans on the Committee Also skeptical of facebook plans. The chairman of the committee saying he applauds facebook for trying to utilize their platform to serve underserved communities in the Digital Currency platform. The bottom line comes following a host of different hearings scheduled for this week. David marcus will testify before the House Financial Services committee tomorrow. Lets not forget Steven Mnuchin yesterday at the white house raising concerns the administration has with regards to the Digital Currency field. David before that we had chair powell from the fed raising concerns last week. ,f you were mr. Marcus listening to everything you are hearing from the senate, would you walk away having a better sense of what congress once from him . Kevin that is a great question. The short answer would be no. In talking with the Internet Community and the lobbying groups in washington, d. C. , as sympathizerschain who believe this is the future, they make tha
The Halftime Report starts right now. Welcome, everybody. Its great to have you with us on this tuesday. We have a spectacular Investment Committee today as well. Yeah joe taranova, john and pete, kevin oleary, cnbc contributor, guitar player and youtube chef star well get to that in a minute. Bryn talkington from requisite Capital Management and Jeff Killburg of cck financial. Thank you very much. All right. Let us start now with the financials i think this is one of the sectors with Interest Rate moves and their relative importance in the markets, have you been happy with the numbers goldman, jpms you have seen very happy. Im long jpmorgan, citi, results from the financial everyone on the desk has done a fantastic job about talking about the potential opportunities. Pete and john had unusual activity in the last two weeks or so in the financials. Listen, if you could finally get kevin disagrees, but if you could get the financials to participate in a market that looks like its not pr
Because he kind of got this ball rolling. Earlier on we got stocks hitting new highs as earnings season kicks off. Iting still very early. 5 of the s p 500 companies have reported. Of never less in small pool of names. They handily beat expectations. They were after cheted down. You know how they. Fbn ams lauren lawyer simonetti. Ceo jamie dimon said this, we continue to see positive mope momentum with the u. S. Consumers. Rising wages reflected in our consumer and banking results. The banks credit card sales that division saw doubledigit growth. That stock is up today. Different picture at goldman sachs. Stock trading revenue rose, highest level in four years by the way. Goldman has been investing in the trading technologies, algorithms, but the effort to bulge up the consumer fell short. The stock is up 1. 1 . Johnson johnson down 1 1 2 now. The Company Raised its Sales Forecast for the year, investors are weighing sales of cancer drugs looking good against legal issues related to ta
Needs more bases the route the Indo Pacific Region because of what he called chinas significant technological advancements. Meantime, china says the Iran Nuclear Deal is irreplaceable and says the agreement is the only way to resolve issues with the countrys nuclear program. The Chinese Foreign ministry blamed the United States or the tensions with iran. Last year, the u. S. Pulled out of that deal and we imposed sanctions. Reimposed sanctions. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Vonnie it is 1 00 p. M. In new york, 6 00 in london, and 1 00 a. M. In hong kong. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the top stores on the bloomberg and around the world we are following. Retail therapy. Retailers post broad gains, flexing the muscle of the american consumer. Can a strength continue to drive Economic Growth . Inv