To participate in todays hearing. Members are reminded to keep p their video function on at all ible for hemsel theyre notot recognized by the chair. Ve the members are also reminded ey that they are responsible for muting and unmuting themselves. To mute themselves after they r have finished speaking. Consistent with regulations, 96s astaff will only mute members and witnesses as appropriate when not recognized to avoid inadvertent background noise an otherre embarrassments. Members are reminded that all house rules related to order ano decorum apply to this remote trn hearing. G this hearings entitled exposure notification and Contact Tracing, how ai helps localities open safety and researchers finn it pure. Statem i will now recognize myself for four minutes to give an openingc statement. Good morning. Todays hearing will focus on the essential trade offs that ry the covid19 pandemic is forcing upon us to make between life, liberty, privacy, and the pursuit of happiness. A and the r
And Andrew Ross Sorkin well start with the markets this morning as the nasdaq logged another record high nasdaq now on an eightday win streak the longest since december last year watching u. S. Equity futures today. There is a pull back the dow is indicated down 265 appointments s p off by 28 and nasdaq down by 50 the nasdaq has seen its best quarter since 1999 and the dow the best since 1987. Check out the s p, for this quarter, s p is up for its best returns it has seen since 1975 looking at the treasury yields this morning youll see the 10year note yielding 0. 7005. That is kind of our comfort zone pretty comfortable if you need to borrow money for sure. The u. S. Is weighing some new tariffs on experts in this case from france, germany, spain and uk related to the 15year old wto fight over aircraft subsidies. Saying the eu is guilty of unfair subsidies to airbus the u. S. Has been accused of unfair subsidies to boeing, negotiations have been at a stalemate. Andrew thank you, joe in
Vergiverg diverging in a different way retail is an important part of apple strategy overall, but what youre saying about the markets being down in the midst of the pandemic, it is not easing off as quickly as some had hopes, carl indeed, one last part of all of this the journal now with a couple headlines on the tape saying that china is telling the United States that crossing red lines could put the trade deal at risk. So sort of a continuation of what were talking about all week trade risk when it comes to the u. S. And china which is not a new story at all lets talk about the markets, the founder and managing partner at full cycle. Which is really focused on, ibrihim, and restoring technologies and all of that is coming to light, it is not just about whether or not people should be moving around, but whether or not people can how can this pandemic, working from home, which i think fits into your portfolio thesis, how is this playing out for you and where do you think it goes from h
And it would obviously be fairly strong gains the week after the weakness we saw in the Broader Markets last week. Not a lot of individual news this morning, jim. But always curious as to what caught your attention. Oil at 40 makes people feel, wait a second, maybe the economy is not so bad. Maybe thats the v. We have of course an apple price target boost a couple of Companies Reported that were not disastrous thats regarded as being positive and the day traders, they dont stop at one point today, were going to have to talk about them because of a tragic instance that happened. Ive been seeing that in my twitter feed as well i think cnbc has done some reporting on that in terms of robin hood very unfortunate and well talk about that and well talk about your friend who i know you follow closely, but back to the Broader Market and back to something we spent a lot of time talking about over these last few years which is china trade. Bloomberg is reporting that they will accelerate its agr
Other. Yesterday, down over 200 adding that, you are down more than 1,000 points of decline in early session right now. Well see what the market does as we get close tore reopening and of course to the closing bell today s p 500 down 33 and nasdaq down 101. The central bank indicated it would keep Interest Rates near zero projected that the u. S. Economy will shrink by 6. 5 in 2020. They do see a gain they are expected by 5 in 2021 followed by 3. 5 gain in 2022 and will continue increasing Bond Holdings and Mortgage Backed securities at 40 billion a month. Take a look at the 10year note, yield now sitting at 0. 698 . Crude oil prices have also come down a little too. Wti is down about 3 this morning. Ticking at 38. 38 a lot of this is because of what the fed is you no saying you are really expecting some tough economic sledding. The news out of 12, 13 states probably not great either. I think it would be hard for me to sell right now. You wait around. We dont invest. You would have wis