To participate in another proceeding please exit this one and like back in later. Any that a member encounters technical issues that prevent them from being recognized from their questioning i will move to the next available member of the same body and will recognize the member of the next appropriate timeslot provided they have returned to the proceeding. In the event the witness loses connectivity during testimony or questioning i will preserve their time as staff address technical issue. I may need to recess the proceedings to provide time for the witness to reconnect. Finally remembered to remain muted until you recognize to minimize background noise. Over the last few months the outbreak of covid19 has led to an unprecedented Public Health crisis and creating a dire economic crisis for small firms. Three out of four businesses are experiencing a decrease in revenue and over half of Small Businesses are concerned about being forced to close. Small businesses across the Food Supply
Joining me youre making a point of whether or not we need to see a reconstitution in what we have called f. A. A. N. G. We have had a reemerging. Time to look at some of the lesser known tech names and the smaller teches that are just getting started. We have two of those on the show today. A cloud air company is up big after reporting the latest quarter, and big commerce is finding its footing after its first earnings report. If youre an investor out there and you have gotten motion sickness from teslas stock lain changes. Coming up in just a couple minutes, right thats a great point, jon this year were hearing more about some of the other names you brought up but in one way i would say these are not necessarily smaller tech investors are getting nervous even though we have seen very, very good quarters from the like of docusign and c scale. Were seeing that perhaps that dont fill these excised expectations people are starting to wonder have they run up too that is a good place to beg
Estimate. The pboc governor says china will implement the phase one deal with the u. S. He said that in an interview with tsinghua. Chinext is down, extending a decline after bearish reversal. China internet stocks were up friday following the ban on tiktok. Some say forget the tencent risk, asian stocks are silly by. Alibaba still a buy. S p. R tech giants on the we have futures in the u. S. 3343. Ng to a flat open, the s p 1 away from its alltime high. This on the outcome of the u. S. Stimulus talks. Also the u. S. China phase one review. We are taking a look at live pictures out of taiwan where alex azar is going to meet the taiwanese president. He is also meeting with taiwans health minister. This is a historic visit. He is the highest ranking u. S. Official to visit in decades, threatening to further stoke tensions between the u. S. And china. Chinese Foreign Ministry spokesperson last week said beijing was opposed to the visit, calling taiwan the most important and sensitive issu
Time guy is so nice, he got everybody starbucks downstairs he does that once in a while. Every time he comes in. He expenses it you know, see, you ruined it . You ruined it. We had a moment. He did not expense your epsom salt no he did not youre a good guy, guy do people say hi guy, guy you just did. Japan has called for an emergency meeting of the u. N. Security council u. S. Secretary of state Rex Tillerson is calling on china and russia to take direct action against the north. There has not been much action in the u. S. Fought chores. The dow is indicated higher again. Futures indicate up 9. 5 points now. S p fought choutures down 2 1 2s the nasdaq down 11 lets look at the currency markets. The dollar coming up the dollar was lower versus the yen after the north Korea Missile Launch news first hit. You can see this morning that at least at this hour the dollar is up against the yen at 111. 20 down against the euro. Lets look at the asian markets. Overnight the nikkei still closed up
108. The current continues index, 111. 3 in october. Again, versus the reuters consensus of 111. 6. Ifo expected index, 103. 6, a little below the expected forecast of 104. 5. There are no revisions to the september indices. The ifo index is probably the years most important sentiment index, slightly lower than what we might have thought. Not by much, but by a little bit. Joining us in the studio for the first part of the show today, moo moodys analytics. Frank, thanks very much for joining us. Thats the ifo sentiment index. Slightly lower than we might have thought. Yesterday we saw from the pmis, as well, slightly weaker than we might have thought. Is the economy, are things just softening slightly . I dont think so. The German Economy is doing very well. The pmi did slow down a little bit. They came weaker, but they still point to expansion this year. The Unemployment Rate in germany is 6. 9 based on the National Statistics and it grew strongly in the Second Quarter. It is likely to