Crimes in d. C. Fall under feller under federal jurisdiction and prosecution that is unlike most cities in america. This hearing of the House Oversight and accountability is about three hours and 40 minutes. The committee on oversight accountability will come to order i want to welcome everyone here today. Without objection the chair may declare a recess at any time, the Committee Welcomes the public to the very important meeting. While youre here i want to point out to the members in the audience today that house rule 11 provides the chairman of the committee may punish breaches of order in the quorum including exclusion from the hearing. All participants will be required to avoid unruly behavior and inappropriate anguish, expression of support or opposition are not in order and that includes holding up signs, i expect all parties to the proceedings to connect themselves in a manner that reflects property on the u. S. House of representatives. I recognize myself or the purpose of maki
Charles payne this is making money. Breaking right now the beatdown continues right . The biggest names that ever traded in the stock market continue to take it on the jaw. Was this sort of an overdue kind of move or is something more problematic ahead . Im happy to say were joined by one of the best in the best ed yardeni will start us off to guide us through the turbulence. Also beth kindig how much longer than the tech names tumble and is there something she wants to buy right now . You want to know. Sam bankmanfried will take the stand. We want accountability beyond him. What about wall street . Make sure this never happens again. Inside gaza, Rebecca Grant on what happens next. All that and more on making money. Charles to say it has been tough sledding for the market is an understatement. The nasdaq the last two days, the worst two days for the year. It nice correction territory. The s p 500 slipped under the crucial support point. Every day we talk 4200, 4190, whatever you want
Stronger u. S. Dollar. You can see that here at the bloomberg u. S. Dollar index up over 12. 75 and dime excreted gaining . 65 per barrel, currently at 84. 40. All three of these things here are bad for this thing here and that is why you see stocks dropping. Abigail doolittle is here with a look at the earnings so far and we have had and still have a ton of earnings to come. Abigail, 40 of the s p 500 reporting this week. 15. 8 trillion of market cap recorded. You did a great breakdown of the macro pressures for the s p 500, nasdaq 100. Here are the micro pressures and we have a tale of two stories in the cloud. Microsoft of 2. 7 up to. 7 on strong cloud corner, revenue over of 13 , betterthanexpected. Back in the team growth area. Their cloud is much better, up 29 and above the three preceding quarters, even though it did not top yearoveryear growth estimate. Take a look at google or alphabet, down 8. 9 , between its worst day from last year and march of 2020. That is the degree of s
Advertising deal with openai, and as dom said, gameshop shares tumble. Take two cuts its forecast in what it calls challenging times. Lets begin with markets a day after the dow hit 40k for the First Time Ever on pace for its fifth week of gains. What did you make of all the fuss yesterday . I thought this was one of the broader attempts at a major milestone. And what led it was just incredible. I mean, youre dealing with a level of broad that what let me tell you, the most important thing was rates had only something to do with one stock out of ten. You could pin on rates. I think thats very important. I do believe most of these companies are just run by ceos that dont get enough credit. Its amazing to me that we simply are always willing to consign, i think thats because of the nonsense risk on, risk off, thats just something that came up to confuse the viewers. Im not crazy about it. I think whats happened here is when you get a guy like solomon, and he realizes, you know, goldman i
The fed chair today. Plus we have that earnings parade. Netflix surges on sub gains. Tesla, that stock is down. At t, blackstone, american airlines, they are all names that we will be telling you all about. And the ozempic effect. Nestle is looking to offset any future sales impact, now dropping products to accompany weight loss drugs. Lets begin with tesla. Among the biggest s p laggards in the premarket, the company did post a quarterly miss, including weaker than expected Profit Margins due to price cuts. Cybertruck was in focus. This is elon musk talking about it on last nights Earnings Call. I just want to temper expectations for cybertruck. Its a great product, but financially, it will take, i dont know, a year to 18 months before it is a significant positive capture contributor. Of course, musk did comment on all kinds of things beyond the company itself. Rates, of course. Macro, workfromhome, sort of echoing themes hes had before, david. I remember during our interview in may,