Gained 160 points, but the nasdaq dipped 3. 4 we still care about the federal reserve. They know nothing just kidding. Or the president s speech tonight at the Republican National convention. But the core question is very simple, do you think we can beat covid19 sometime soon or are you expecting it to plague us into next year that can be difficult to see today, we were obsessed with fed chief jay powells big speech at jackson hole we parsed every word, and it wasnt worth parsing he was a prisoner of the flimsy orthodoxy, but these days he doesnt want to be the reason the economy falls apart. Hes saying forget the foolish ways of the past 40 years of fed chiefs his goal is to help the economy, period, until the pandemic lifts. Its joyful. Hes really smart and good guy thats a stock market like a supermarket. There are some aisles we want to go to when the virus is raging, and theres others we want to go to when its on the ropes. We dont know when well beat this thing ive been telling y
Have learned during the crisis to better prepare for pandemic or other biological events of this scale in the future. Folks of todays hearing is the Strategic National stockpile. First established with a 51,000 appropriation in 1958, the sns was codified in 2002 and obtained its current name with an expanded mission in 2003. Over the years, management responsibility for the sns has changed between different agencies within hhs and dhs. In developing a plan for this committees oversight for the federal governments response to the coronavirus, the role of the Strategic National stockpile was an obvious area of interest, as is the vulnerability of our supply chain and theyre very interrelated. I assume that staff would be able to quickly obtain the list of items that should be held together with required and actual inventory levels of each item. Once again, i learned it is dangerous to assume. We quickly found out that those lists do not exist or certainly are not made available to congre
Vaccine. If you want to understand this market, including today, the dow tumbled 354 points s p lost 1. 23 and the nasdaq plunged 2. 29 with many bigcap tech stocks taking it on the chin. You have to recognize things will never be the same in this country or around the world until we get a vaccine the pandemic, not the fed they know nothing not the election is the most important driver of the stock prices thats right we get a vaccine sooner than expected, we save the economy. But if the process drags on and we dont have any stimulus, were going the need to adjust to the slow to no growth huddle at home normal therefore, our fate is in the hands oh of a few dozen companies. Whoever get there is first is going to make a lot of money thats why we decided to do something new. We surveyed 92 drug analysts, the best we could find, state and local level, to handicap the chances of each of the main players. We dont bet on at least we dont like to bet on lifethreatening situations. This is a te
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
Not surprisingly tech stocks are holding up the best today. Bob is looking where we stand on earnings about halfway through the season and our tech team will get us ready for what to expect tonight josh lipton on apple julia on facebook. Bob, lets start with you. Kelly, earnings are a little bitter than expected the market is holding up pretty well because of that the big winner here remains technology stocks. Why shouldnt it just look at the Second Quarter earnings estimate. You heard of what a disaster the sec quarter is 38 for the Second Quarter this is almost the same for the Second Quarter technology will have a small decline. Thats why tech keeps winning. Look at lam research they make semiconductor equipment. The ceo said covid19 has underscore the rapid growing on reliance look at the chart up 28 good Earnings Report but straight up since the bottom in march. Telemedicine is killing it look at these numbers here 2. 8 million visits in the Second Quarter. 200 growth. They raised