Good morning and welcome. Consistent with the guidelines released last night by the ho e attending physician and the speaker all present today in the hearing room are required to wear face coverings. Brief removal of the masks for the purposes of speaking on the record is permitted. I want to thank everyone for their adherence to these guidelines as we continue to do our work protecting the health and safety of our staff families and communities. So thank you for joining us today. Pursuant to todays instance n our hearing is taking place in the ways and Means Committee room with members able to attend remotely with compliance with proceedings pursuant to House Resolution 965. We currently have 33 members logged in and participating via the platform. For those members here in washington and plan to participate in person we have a limited number of available seats at the dias to ensure we adhereby to social distancing guidelines. I encourage members to watch from their office and only co
It is still on. President trump insists a phase one trade agreement with china is fully intact. Peter navarro claims his earlier comments were taken out of context after suggesting the deal was over. The European Commission is more confrontational. E. U. Lash out at beijing over hong kongs autonomy, disinformation, and foreign investor meant foreign investment. We are in brussels. Hard times for softbank. The Company Sells part of its tmobile stake, creating 21 billion dollars to help offset record losses in its investment business. We will have the details for you briefly. Just under one hour away from the start of cash equity trading in europe. Lets take a look at futures this morning after we closed down yesterday in the u. S. And the u. S. Managed to eek out some gains. They are trading solidly higher. Dax futures are up. 6 percent. Ftse futures up about. 25 . What do you see on the gmm . Anna we have certainly been whipsawed by those comments by Peter Navarro on trade and the abil
I want to thank everyone for their adherence to the guidelines as we continue to do our work while protecting the health and safety of our staff, families and communities. Thank you for joining us today. In pursuant to notice, todays hearing is taking place in our ways and Means Committee hearing room, with members permitted to attend remotely in compliance with the regulations for Remote Committee proceedings, pursuant to House Resolution 965. We currently have 33 members logged in and participating via the webex platform. For those members who arent here in washington and plan to participate in person, we have a limited number of available seats to ensure that we adhere to social distancing guidelines. I encourage members to watch from their office and only come to the hearing room when it is your turn for questioning. Before we turn to todays topic, i want to remind members of a few procedures as we navigate this hybrid hearing setting. First, consistent with regulations, the commit
Businesses are failing, tourism has collapsed, and confidence is shot. Sweeping new security loss for hong kong later on tuesday after imposing visa bans on americans it says are interfering in its affairs. Look at the take a set up after the u. S. Paring back some of the gains. Betterthanexpected housing data overweighting these continued can turns and continued resurgence. Continued returns and continued resurgence. Sophie. Sophie futures are pointing higher. Chinese pmi is expected to show some stabilization from manufacturing while Services Face a setback. From south korea, we are getting a may industrial output. That was a bigger contraction than the expected 4. 5 via well vol that was seen in a survey. Nikkei futures in chicago heading higher and this is adding up the topix for the best quarters 2016. Since 2013, for the last of market rights, raising concerns with heavy concentration on japanese growth stocks. The yen wrapping up a sleepy quarter. Valuations as cheap as they com
Want to highlight energy. It is at the bottom of the barrel, down 1. 6 . Part of thousand of cyclical trade we saw the beginning of the week on monday. 8 also have oil lower today. I want to stick on oil. Even though it is lower today, it is still up in a massive way on the month. It has gained nearly 80 in may, the best month on record. Supply and demand in the market starts to look more balanced and wti is ending the month around 33 a barrel. David . Waiting to hear from President Trump. We have already heard from jay powell. Earlier today our colleague Michael Mckee sat down in an exclusive interview with Loretta Mester, the cleveland fed president. They talk about euro curve control. Yield is flater at the short end, so maybe with the Forward Guidance it is not necessary to do something to emphasize the Forward Guidance. I do not want to take it off the table is something for me to think about as a possible tool. I do not think we needed at this phase, or do i see so much forward w