Changed no question chair powell changed this market. With the claims today really driving forward that conversation is the real yield, the inflationadjusted yield through 2012 levels. It shows not the gloom, or this word dour used by the fed, but this readjustment going on. Jonathan the data coming at 8 30 eastern. Youve got to believe the gdp print is for economic historians and the jobless claims for this market. Lisa thats exact where i was going to go. We will get the gdp report, the worst in history, and it really is history. No one is going to Pay Attention to that from a market perspective. Jobless claims expected to increase. Interesting to watch that. Also today, very much in focus is tech earnings. , and apple. Azon also today cost stimulus talks are continuing today. We also have nancy pelosi down there after mark meadows, chief of staff or president trump, said yesterday they are nowhere close to a deal. The 600 on them limit benefit runs out tomorrow. Jonathan talks going
The tech giants in the us are dominating the business agenda today. Jeff bezos is stepping down as amazons Chief Executive. The Online Retail giants founder will move to become the compa ny s executive chairman. He will be replaced as ceo by andy jassy, the current boss of amazons Cloud Computing business. And this comes as the firm reported 386 billion in sales in 2020, thats up 38 on the year before. Their profits almost doubled, rising to 21. 3 billion. So whats been the reaction to the news bezos is stepping to the side, and what do we know about the new boss . Duncan howe is e commerce strategist at cheil uk, which is a Digital Marketing and advertising agency. Duncan, welcome to the programme. Executive chair man still means he will have a lot of control and very much involved in and is on, but it is the day to day responsibility. What do you think about this move . I responsibility. What do you think about this move . I think it is a bit of think about this move . I think it is
It is official. The pandemic has triggered the steepest Economic Contraction in history, but markets in this final hour dont look nearly as bad as they did when the number for gdp q2 came out earlier. Right now, the dow is down 193 points but the low had been a loss of more than 500 points. Yes, we saw that the covid had created a stunning collapse in growth but nowhere at the moment where we see the nasdaq up 56, thats where we see some real strength. But the reaction is most prevalent in safe haven government treasuries. To the tenyear yield which moves, by the way, inversely to the bonds price, diving into a hole. We are at. 55 for the tenyear yield, as worried investors decide it is risk off. All right. So President Trump is making comments right now at the headquarters of the American Red Cross in washington, d. C. Lets listen in for a moment. These therapies transfuse powerful antibodies from the blood of recovered patients to help treat those battling the current infection that
Reputation that caught our attention. It is discrepancies in the rules. Earlier this week, the director talked about how it should be used. It was narrowly focused on looking at the pay roll and trying to help those businesses keep their employees paid. Yet newly released date eight shows 730 corporations, including several employment agencies all report zero employees. Yet they cash in the on 257 million in fulling. They did not retain any employees is a lot costly there be another explanation . If it says zero, i have to believe its probably more of a data reporting error or a field the bank didnt capture for some reason. Reporter heres a question. Why would an application for a milliondollar loan be approved without the company even identifying jobs would be retained in. An shoot outrage. The real incentive for many of these companies is that even if they knew they would have to refaye loans because they didnt use it toward saving jobs, they were able to benefit from the extremely l
I want to make sure to note some important environment. Standing house and Committee Rules will continue to apply during the hearings. All members are reminded to adhere to the standing rules including the quorum. With that said im designated by the speaker the committee will operate in accordance with 965 under strict it guidance from the rules committee to respect the rights of all members who participate. House regulations require members to be visible throughout a video connection during the proceedings so please keep your cameras on. Also if you park dissipate in the meeting please exit this one and log back in later. If a member encounters a technical issue that prevents them from being rack ignites for their questioning i would move to the next available member of the same party and i will recognize that senator in the next appropriate timeslot provided they have returned. To do to members time being interrupted by technical issues i will recognize that senator at after meeting