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
Commission meeting. As i have done in the past im going to read the following into the record. On february 25, 2020, the mayor declared a state of emergency related to covid19. Further moremore, theres laws apicable to boards and commissions to hold hearings remotely on. April 3, 2020, the Planning Commission received authorization from the Mayors Office to reconvene remotely through the end of the shelter in place. This is so that we are here. I am requesting everyones patience in advance, and the platforms at times are not perfect and may seem clums i. If you are not speaking mute your microphone and do not hit any controls that may affect other participants. To enable the Public Participation sfgovtv is broadcasting and streaming this hearing live and we will receive Public Comment for each item on todays agenda. You can do so by calling the 800 number at 1 888 2733658. And enter access code, 3107452. Press pound, and pound again. When you are connected and your item comes up that y
Good morning. Good morning. Good morning, everyone. As we begin our final day of consideration of the fy21 spending bills, id like to thank you all for your kind words and well wishes and ask you, please, to indulge me in just a few more reflections. I came to congress in 1989, one of just 31 women in the house and senate and to this committee in 1993 alongside only six other women under the 64member panel. This body is better for the 100 women serving in the 116th congress and for the many women in the room today. Its my honor to address the full committee for my final time as the first woman chair. You know, its ironic [applaus [applause] thank you. Its ironic that back in 1993 i had to choose between serving on appropriations or ways and means. I was fortunate to be given that choice. And today, we markup my final appropriation bills in the ways and Means Committee room. I chose appropriations because i believed it was the best place to give more people a better chance at a better l
Now in april this year the Federal Reserve bank in new york reported that minority and women owned businesses are significantly more likely to show signs of limited Financial Health and more likely to be classified as at risk for distress the nonminority Small Businesses. Further companies are three times likely as Healthy Business to close because of a two month the ppps program established under the cares act and administered by the Small Business administration and treasury for distress with responded to the covid19 pandemic. Recent analysis of the color of change in the United States found only one in ten africanamerican owned businesses received the requested funds through the program. I have heard from many a minority owned businesses who did everything right, they did not give a low number or loan in the first round, many minority businesses share the enhancement act was not adequately designed to enhance or assist Small Businesses. Thank you to the partnership of the Financial
Authorities warned against reopening too quickly. Sending a message to facebook. More advertisers cut spending. Anchor asian markets are setting up. Virus cases continue to accelerate, not just in the u. S. But closer to home. Lets go over for a look. I am looking at the numbers, it looks like a trading week. That backdrop, futures are pointing lower this monday ahead of hancocks anniversary. Trade data do from the city this monday. Morning, thehis economic fallout from the virus, higher jobless reports. We have a downside picture across asia. Checking in on commodities, lets check in on oil. Losing ground. Near a 2012ing high. Higher prices expected. Australia does see gold expert warnings hitting a record 22 billion in 2020 through 2021, before easing in 2022. We have to big picture that good gold could top 1800 an ounce. Global virus has hit grim milestones. Cases in tokyo rose by a daily record. Japan had lifted a state of emergency last month. In the u. S. , governors are struggli