Next the director of the federal Housing Finance agency testifying on housing and mortgages during the coronavirus pandemic. House Financial Services Committee Members asked him how his agency is handling the rice in foreclosures and forbearances as well as the operations of fannie mae and freddie mac. The hearing runs over three hours. The committee will come to order. Before we begin, i want to remind members of a few matters including some required by the regulations accompanying House Resolution 965, which established a framework for Remote Committee proceedings. First, i would ask all members to keep themselves muted when theyre not being recognized. It will minimize disturbances while members are asking questions of our witnesses. Members are responsible for muting and unmuting themselves. The staff have been instructed not to mute members except when theyre not being recognized and theres background noise. Members are reminded that they may only attend one remote hearing at a ti
500 on pace for their biggest quarterly gains in nearly 20 years, and the nasdaqs about to have its best quarter since 2001. We will break down all the numbers for you. While this quarter was rosy, the future might not be so bright. If you ask Federal Reserve chairman Jerome Powell, the fed head warning of an extraordinarily uncertain economic picture due to the coronavirus. Treasury secretary Stephen Mnuchin just wrapped up testimony on capitol hill, long day for them. We will go to d. C. For all the fireworks that happened in that room. Meanwhile, we are just nine hours away from the deadline for Small Businesses to tap into what is left of the Paycheck Protection Program. It still has more than 100 billion available. The ceo of Valley National bank is here to tell us how he thought the program worked and what should be done with all that excess cash and should there be more stimulus. Then theres this. The Work Life Balance turned upside down during the coronavirus pandemic but as st
Companies keep pulling ads from the social network. Starbucks and pepsico among the players. Charlie has a big scoop on the facebook story. As the coronavirus death toll surpasses another tragic milestone, and cases spike in some regions, the search for the cure presses on. Jacob glanville is star of pandemic and is here to tell us how his treatment is curing cancer and if human trials are around the corner. Plus a new front in the electric vehicle cars. Nikola motors taking orders for its Tesla Cybertruck competitor, the badger. The executive chairman is here to tell us how orders on day one are faring. Less than an hour to the closing bell. Im Cheryl Casone in for liz claman today. Lets start the claman countdown. Cheryl we begin with some breaking news this hour. Amc theaters is going to begin reopening its u. S. Theaters on july 30th in line with Disneys Mulan and Warner Brothers tenet. They originally said u. S. Theater operations would resume on july 15th. Little bit of pushback.
Yesterdays stomach churning day during which the dow saw its fourth biggest point drop in history. 1,861 points. Equity losses of 2 trillion dollars just shaved right off. One of the triggers from yesterday is the same one thats pulling the oxygen out of todays rally. Worries about a longer recovery and a second wave of the coronavirus pandemic rearing its ugly head. One of the most widely followed economists on the street, in this final hour, what he sees as the biggest obstacle to a more persistent and longer stretched market and economic rebound. Plus, College Football taking baby steps the put the pandemic behind it as players get the green light to begin workouts this coming monday. So could we really see oregon and cal and ucla and yes usc football in the fall . The commissioner of the pac 12 is here in a fox business exclusive. Yes, i will ask, will there be fans . Plus poking fun at the brand new playstation 5 . Portfolio margin protectors and charlie breaks it on the players l
Friend. Were watching that very closely. Were keeping close eye on washington. Were focused on capitol hill. The house taking up the stimulus measure, relief measure, whatever you want to call it, to the tune of 484 billion. Now the house physically there, in person, some Wearing Masks to make sure they get this done. Lets get the latest from chad pergram, how this will all sort of fan out. Chad . Reporter hey there, neil. This is the debate. They started 15 minutes ago on this bill, about 324 billion of this goes to Small Businesses. You might recall a couple weeks ago that fund ran dry. The cupboard is bare. The cost of this bill ballooned from 251 billion specifically to Small Business, to 484 billion as you say. House Speaker Nancy Pelosi says democrats improved the bill. There is money in here for hospitals and testing. Listen to the speaker. Im very pleased that it was transformed from a bill two weeks ago on the floor where the leader in the senate said, this is it, 250. Were no