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
Reporter matt boon in oakland, matt . Reporter liz, its been warm and windy out here all day. Those gusts causing issues overnight behind me they toppled over part of a tree into power lines causing additional Power Outages for people here in mt. Claire. As crews clear the fallen branch, pg e says its working to restore power to the 800 or so customers that have been affected. But just down the road in mt. Claire village, the stoplights are off and signs like this dot many of the businesses. We did find julia, owner of this store in the dark. Her world upside down. The power is out but youre here working. What are you doing . Im working on my taxes. Reporter the old faxed way. The Old Fashioned way. Reporter while the shut offs may impact her business, she understands the importance thinking back to the oakland fire of 19 91. It best not having business for one or two days than not having business for almost a year. Reporter up in the hills, resident richard fills up the gas generator
Week as traders rotated in and out of sectors. And amazon prime days kicked off an unusual Holiday Shopping season with retailers adapting to the challenges of the covid19 crisis. Which companies will benefit . Apple unveiled its new iphone 12. Will 5g drive a phone sales super cycle . My colleagues, ben levisohn, carlton english and jack howe. Ben, lets start with you. Mr. Market is sometimes described as manic depressive, but this week it was more sort of schizophrenia that we saw. Whats going on . Yeah. It was just a very indecisive market. There were days when investors flocked to tech, and other days the nasdaq went down, other parts of the market went up. It really just depended on the news of the day. Early in the week we had plenty of things that could have caused the market to sell off including drug trials at johnson johnson, eli lilly for Covid Treatment being halted, and we also saw, you know, cases of covid rising. But the market actually pulled through all that and even g
Means for the Energy Sector and your portfolio. And sony and microsoft are set to reelite next generation video game console ahead of the holidays, is and most repreorders have already preorders have already sold out. On the round table, my colleagues, ben levisohn, carlton english and jack howe. Ben, i thought the debate might be the big story of the week until we all woke up friday morning to find out thats president and first lady have covid19, but the market largely shrugged it off. Whats going on . They say that the market hates uncertainty, but investors have been planning for a lot of it. If you look at the vix, the markets fear gauge, theyre expecting a heightened level of volatility all the way through january. So Something Like this comes along, and it shocks the market, but it doesnt shock it, i think, as much as people would have normally if it had just come out of nowhere. And theres also stimulus talk going on, and actually i wouldnt say in the background. That was taking
Activist investor nelson pelts disclosed his firm, what that thens for the stock, and a rough week for banks. Reports of suspicious transactions and backlash against wells fargo ceo, but there could be some positive factors ahead. My colleagues, ben levisohn, carlton english. Ben, im going to start with you. Weve been chatting this week about the market, and you kept on saying stocks are behaving in a weird way. Whats so unusual in. The week started pretty badly, fears about covid resurgence in europe that really knocked the market down. It built with the questions about economic stimulus and the likelihood that we wont get any, fears about the economy, about the election. And the market kept dropping, and it really looked like good news wasnt going to matter much. Nikes earnings were great, it didnt help the overall market. Darden, which owns the olive garden, it reinstated its dividend, this is a restaurant stock. But, again, that didnt have any big effect on the market. And even whe