Youre watching cspan2. Your unftered view of government. Created by americans Cable Television companies emma is a public service, and brought to you today by your television provider. Acebook market zuckerberg and twitter Ceo Jack Dorsey testified about the president ial election helped erica manng misinformation online. From this in a jewish inhe judiciary committee. This is four hours. Good morning everybody. I think weave senator blumenthal remotely, is that correct. And is it okay if we moveha forward. Absolutely and thank you very much. I will make a brief Opening Statement and this is about censorshipuppression in the 2020 election. Sort of a deep dive when i facebook. Witter and about the platforms and the decisions they make and how they make them. Can we do better. Do we need to do better. So the first thing that i want to talk about here is health risket associated with social media. A 2018 Research Center survey of nearly 75013 17 yearolds found that 45 percent online almos
I request as a member of this committee that you generate such a list and provide it to me. Witc thank you very much, mr. Chairman. H, thank you, mr. Chairman. Man. Facebook and twitter and google have massive power. Y on i will say its dismaying listening to the questions from my democrat colleagues, becauseo they wantr them to sensor more to silence voices that Senate Democrats disagree with more. That is dangerous if we want to maintain free and fair democracy and fair speech. D d there was a time when democrats. Defended free speech and there was a time when democrats defended the principles of a free press. The yet theres an absolute silences from democrats speaking up for the press outlet censored by big tech. Theres a a silence from democrs speaking out for the scitizens silenced by big tech. At the same time that big tech exercises massive power, it also enjoys massive corporate welfare, through the effect of section 230, a special immunitys from liability that nobody elsey get
Other, whose platform and has done more to protect the 2020 president ial election. Mark zuckerberg is going all in on the claim that facebooks moves have been historic. They have done more than any other country in history to make sure bad, fake information about this election is staying off of their platform. I will paraphrase something he said. They introduced new policies to combat Voter Suppression and misinformation and we worked with local Election Officials to remove hundreds of thousands of false claims about polling conditions. That he worried could have led to Voter Suppression. There is one thing so far in this hearing everyone agrees on, that is which posts stay up on these platforms, which come down and which get slapped with warning labels should definitely not be up to the u. S. Government. Take a listen. When it comes time to flag content as being reliable or not reliable do either one of you believe that the government should do that . I dont believe so. I think that
Swapping out pfizer for amgen. Raytheon youll hear later today. The largest oil and gas company with one software play dropping a respected drug company for a descent biotech . Kicking a defense contractor to the curb for an industrial if it makes you scratch your head, youre not alone these changes had enormous impact the dow dipping 60 points and the s p dipped and nasdaq gained 6. 7 in all honesty, these moves made a lot of sense they bring the dow closer to the reality of the new cone economyt the memory of the old. Before i delve into each trade, there is an aspect of the dow like the king to the s p 500 Prime Minister same t simultaneously more prestigious. Only included the dow because i had old investors regarded as the most important benchmark we live in the efts of trillions of dollars and whatever name gets swapped in, there is a gigantic wave of buying and selling. The dow has little money invested in etfs its a big deal if you work for them because this is an exclusive clu
We will talk about that over the rest of the hour. 10 year yields are up about four basis points to just under 466. Lets talk about assets. Tremendous volatility on other Asset Classes as well. New york crude down to 81 on the day, just under 82. 8 lower. The dollar is still getting some strength along with yields. The yen is weakening to 157 on the day. Remember, there have been accounts by the Japanese Central bank, reviewed by bloomberg, show and likely intervened in the market monday. You saw strengthening. Back now to 157. Coco is interesting. You saw it drop as low as 27 . Now it is up more than 2. 6 on today. What is interesting is extending liquidity in the market shows you how wild you can see this wings leading to one of the worst drops you have seen in coco in decades, just earlier in the day. Midday movers on the equity side. Ge healthcare reported sales for the quarter missing the average estimates. Analyst sees this talk pressured after weak results with the company we ar