Funding and research efforts. This is about two and a half hours. The subcommittee will come to order, i thank you very much and i apologize for being late. They take on a life of their own but i just want to say good morning, good morning doctor collins and welcome back. Let me just say thank you on behalf of the subcommittee for hosting members of the subcommittee for the nra campus last week. We had a wonderful opportunity to learn more about in ages work. We met with researchers who were working to develop treatment for major depression, shrink cancer tumors. We heard from participants whose lives have been changed back Clinical Trials. So it was a moving experience as well and we welcome our witnesses, including the five director said join as today and, in addition, doctor Francis Collins as john this is many times as director of National Health, today joined by dr. Bruce, director of the National Institute of biomedical imaging and bioengineering, Helene Langevin director of the
National institutes of Health Director dr. Francis collins and nih leaders testified before a House Appropriations subcommittee on funding and efforts. About 2 1 2 hours. About two af hours. The subcommittee will come to order thank yall very much and apologize for being late. On a life of ken its own. Late. They take on a life of their own but i just want to say good morning, good morning doctor collins and welcome back. Let me just say thank you on behalf of the subcommittee for hosting members of the subcommittee for the nra campus last week. We had a wonderful opportunity to learn more about in ages work. We met with researchers who were working to develop treatment for major depression, shrink cancer tumors. We heard from participants whose lives have been changed back Clinical Trials. So it was a moving experience as well and we welcome our witnesses, including the five director said join as today and, in addition, doctor Francis Collins as john this is many times as director of
Points after a rally that saw all of the major averages up do you up by 227 points. S p up by 21 nasdaq up about a percent at 85 points a lot of people muling through and looking at some deescalation it still continued but let up a little bit trade looks like a sidelined issue or better. Much much lower but rising that made people feel like they didnt have enough exposure. The dow is up around 2,000. Russell 2000 is up first it is a catch up and then lets see how far we can stretch it overnight, with the headlines of the latest concessions, the s p futures shot up. We are up six or so percent. If we wanted to, we couldnt make new lows or deals it is fairly far away. You are in this zone. You have a cushion below you see the 10year 1. 726 it is good. It is good it is good always a good side, bad side of things. In asia, we did see the president tweeting about postponing tariffs sang high composite ended up in europe, if you look at what is happening there, right now, markets have barely
Joining us for the entire hour is dan nathan, founder of risk reversal advisers. Welcome back to you. Sara. So theres something youre looking at about the s p 3000 level and fed meetings if you go pack to july 31st, the last time that the fed met, they cut a quarter basis points Interest Rates the first cut in ten years and the stock market was above 3,000. And and it wasnt until the trump tweet the next day that we broke down and stayed down all of augusts here we are now, expectations are for another cut, and it seems like the s p has really paused again at the same level, about 3,000. Weve got lots to discuss with dan, but lets drill down on the big stories were watching today bob pisani is tracking the big reversal leslie picker has details. Mike santoli has a special market dashboard ahead of fedexs earnings which hit after the bell and well have for you here on closing bell. A big day in oil. Oil dropped right after the open on a reuters story that saudis oil output would be full
Right before another president ial election. The big worry is uncertainty about trade. The u. S. Is threatening to ramp up tariffs on china, and it isnt clear when it will stop. Corporate executives say the uncertainty is making them less inclined to make new investments until the coast clears. Meantime, economies in the rest of the world are slowing. Now, in times of trouble the Federal Reserve usually cuts Interest Rates to make it cheaper for businesses and households to borrow, invest and spend. The fed has started doing just that, but the feds biggest critic, president donald trump, doesnt think hes moving fast enough or aggressively enough. Im joined here today in washington by a person who understands these issues and whats at stake the better than virtually anyone else. Shes janet yellen who served as chair of the fed from 2014 to 2018 and is currently a distinguished fellow in residence at the washington, d. C. Think tank, the brookings institution. Chair yellen, thanks so muc