stolen by fraud. that was testimony from former attorney general bill barr, played during the second hearing into the attack on the capitol, saying donald trump was detached from reality, as he tried to overturn the 2020 election. we will have the key take-aways from day two of testimony. plus, after yesterday s intense sell-off, stock futures are in the green so far this morning. as investors brace for a larger than expected interest rate hike. we ll have the latest read on the economy. and the race to turn that bipartisan compromise on gun safety into law and the process of writing the bill hits a snag. good morning. and welcome to way too early. on this tuesday, june 14th. i m jonathan lemire. thanks for being with us. we begin today with the second hearing into the january 6th attack on the capitol. the house select committee made the case yesterday that donald trump had an inner circle of advisers telling him the truth, that the election was not stolen, but t
is worth noting, futures are pointing higher this morning. it looks like a little bit of disability come through. how long it lasts is anyone s guess. as far as yesterday s downturn goes, the s&p 500 entered bear market territory, the dow plunged nearly 900 points, and the nasdaq dropping nearly 5%. the epicenter of the selling was really the treasury market. yields had been going higher all day. but the nail in the coffin, the last straw was an article from the the wall street journal suggesting that the federal reserve may hike interest rates by 75 basis points tomorrow instead of 50 basis points and that sent investors into the tailspin of pricing in more aggressive interest rate policy from the federal reserve. we ll have to wait and see for tomorrow. but all eyes are absolutely on jerome powle. certainly exactly right, so much interest in what the federal reserve will do. another source of concern, crypto, and the world s largest cryptocurrency, bitcoin, and recently fell belo