Loom over the market. And the u. S. And china continue to trade barbs over the handling of the crisis. Washington says the world has been let down. Shery lets get you started with a quick check of how markets are trading. U. S. Futures looking like this. Unchanged at the moment. This, after we saw a broadbased rally in the regular session. This halting a two day slide. We had the latest around corporate earnings showing a little more positive sentiment. Chipotle and Texas Instruments rising on solid result. We had tech leading the gains with the nassau composite seen the best day in about one week, reversing yesterdays weakness in tech and chipmakers as well. We have a little more optimism about the eventual reopening of the economy as well, so we had this pullback in treasuries confirming this riskon move. Take a look at what oil is doing. We saw oil rising from record lows in the new york session. Barrel right 14 a now as President Trump ordered the navy to deploy any uranium boats i
Language or some appropriately until ahed safe harbor, new reference rate can be used, significant legal problems and challenges are likely to occur. Liborsthis in mind, as farduled end nears, and so is the secured overnight Financing Rate will apparently take its place, tell us, what can be done to accommodate the numerous contacts that do not have fallback positions . Chair powell thank you, mr. Scott. I think you said it very well, i think theres 300 trillion plus in contracts referencing libor 500 different currencies. The maybe elation 300 trillion plus in contracts referencing libor in 500 different currencies. Supervisesty which libor banks has said it will not compel the banks to submit libor past the end of 2021, and libor could then and. We spent many years looking at ways that contracts do have fallbacks. Weve worked with the retail groups in particular for mortgages and things like that to find a way so that if libor is not published, there will be a rate that is the fallba
Position and as you know, without a fallback language or some appropriately established safe harbor, until a new reference rate can be used significant legal problems and challenges are likely to occur. So with this in mind, as libras scheduled end nears and so far and so far is a secured overnight Financing Rate apparently will take its place, tell us, chairman, what can we do what can be done to accommodate the numerous contacts that do not have fallback provisions . Thank you, mr. Scott. You said it very well. This is a i think there are 300 trillionplus in contracts referencing libor in five different currencies the manipulation was revealed really almost a decade ago, and i think the financial conduct authority, which supervisors the libor banks has said its an important day as the fed chair testifies in front of the House Financial Services committee. Im Carl Quintanilla with deer ra bow is a here got some record highs here the chair has discussed several things, facebook, libra,
The committee will come to order. Without objection, the chair is authorized to declare recess of the committee at any time. This hearing is entitled Monetary Policy and the state of the economy. I recognize myself for four minutes to give an opening statement. Today this committee convenes for a hearing on Monetary Policy and the state of the economy. Chairman powell, welcome back. Today i would like to start by addressing the current elephant in the room when it comes to Monetary Policy and the fed. This president has made it clear that he has no understanding or respect for the independence of the Federal Reserve. He has said the fed, quote, doesnt have a clue, quote, unquote, called it the most difficult problem for the u. S. According to media reports, he discussed firing chairman powell because of policy he doesnt agree with. Lets be clear, it is essential that the Federal Reserve maintain its independence from the executive branch. So i urge chairman powell and other Federal Res
Captures the same group of guys breaking into red apple tattos did the tatoos on my arms whats happening here that connects everything and makes it so that we are the targets. 121841 red apples owner eddie woke up to the alarming news his place had been hit yesterday and posted this video online 132907 i didnt hink it was going t o go anywhere,. Ijust p[osted like hey my followers if you see this guyhit me up its gone almost viral whichh is awesome hopefully these guys get caught now. 13291 marti glaser 13 action news. We reached out to me and they tell us this investigation continues. Police saying so far this year thereve been more than 8thousand reports of burglaries. Were following a developing story out of North Las Vegas right now. A 15yearold boy was shot in the leg near carey and civic center drive. And the shooter is still on the loose. The boy taken to umc trauma. Hes expected to be okay. If you know anything about the shooting call police right away. We got hit with some sur