Good morning. So this meeting will now come to order. Today the subcommittee is holding a hearing entitled oversight of doe, during covid19 pandemic. Members will be participating in todays hearing finally in person or remotely via video conferences. And just as a reminder weve had some technical difficulties in making sure that our remote video was operating up to standard. As part of this hearing, the microphones of members participating remotely will be set on mute for the purpose of eliminating inadvertent background noise. Members participating remotely will need to unmute their microphones each time you wish to speak. For members and witnesses participating in person, i encourage you to wear your mask whenever you are not speaking. Dr. Monahan, our physician, stressed in attending physician covid19 guidelines that use of face coverings is meant to protect other people in case someone was unknowingly infected and does not have symptoms. But wearing our mask when we are not speakin
Close of trading for the day and we could lets go to the markets desk and check in with our own julie hyman. It is a real rally. We were talking about this delayed reaction to the ecb. Mario draghi said there would be no Interest Rate cuts and investors were confused. They seem to result of confusion today. Europe and thein u. S. Rallying through the session and hovering near the highs. It has not been a supervolatile session. We see a steady uptrend here. Stocks are continuing their winning streak. Fourth week in a row we see stocks higher. You see the s p 500 on a oneweek basis. Three quarters of 1 is enough to continue the street. One investor were hearing from his someone who is already bullish on the stock. He has the highest target of the strategists we survey for the s p for the yearend. One of the things he is looking at, if you take a look at bloomberg, is highyield. This is the bank of Americamerrill Lynch u. S. Highyield index in white. S p 500 total return index in blue. Wh
Well, i think the court by citing loving in windsor thinks that there is not much difference between marriage by a samesex couple and marriage by an interracial couple. They didnt decide the case but they cited it. The trend is certainly in that direction. I think the court its different from saying what loving stands for. Isnt the answer to my question about what happened in 1968 pretty obvious because we have baker in 1973. I think that lawrence, excuse me, that Justice Kennedy tells us something about how the court may be viewing these cases. I think what he is saying and i think you see it in lawrence and you see it in windsor. The court is saying that back decades ago, certain practices were accepted. Now we understand more about these things and we now understand that these are now going to be framed as discriminatory. We didnt know anything about samesex couples back at the at the time of loving. These were hiding because their conduct was criminalized. I think to say that this
For the year. Manufacturing is still expanding, just at a slower pace. We are down significantly from where we were in november. New orders, which has the highest correlation is that 57. 3 percent. It is still a good number, but it is not matching up to where we were the previous two months. It will be interesting to see how the markets interpret that. Employment goes up. A sign that may next friday we get some good news on the employment front. Prices, 38. 5 . The disinflationary trend is really in place. Overall, a reasonable picture, just not quite as good as last month. We start the year off on a positive note for manufacturing. This is our read on what percent of the economy . About 15 . This is a very long track record with Economic Growth rate. People like to watch it. The manufacturing jobs trend tend to pay more. The bull market in u. S. Equities is closing in on its 60 year anniversary. Sixth year anniversary. Rbc capital Jonathan Gollop is even more optimistic. You have been
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