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
Of a point, call that flat. The gains in the techheavy nasdaq are way more interesting in this final hour because they come about an hour and a half after the department of justice hoisted a sword of damocles over the social media sector. The doj has proposed new legislation that would make Silicon Valley giants from twitter to facebook to google liable for content thats posted online that violates federal law. Our floor show traders are here to tell us if doj danger is now the cue for you to take your tech profits and run. The Housing Market in full bloom as States Reopen and wouldbe homeowners resume their quest to fulfill part of the american dream. The ceo of mortgage Lending Software giant reveals what hes seeing in the Mortgage Market as rates remain at historic lows. Time to refi . Well ask. General motors flips the script from making cars to transmissions to medical supplies needed to fight the coronavirus pandemic. How about that. Well, the chief engineer running gms productio
Last weeks big rally with saudi arabia and russia feud over cuts the oil market taking a hit today. We do have full Team Coverage of these markets for you. Bob and rick covering the action in stocks and bonds. Steve on the latest economic fall out from the virus. Bob, well kick it off with you and this rally that just keeps building it started early on we got right up great overseas numbers. When Governor Cuomo started talking a couple of hours ago, we moved up on his comments on hopes for plateau. The market took it positively. I want to point out that we are, i call it markets in the middle. Were now 20 off of the lows from the february 19th high, were now down 22 remember at one time we were down 35 a bull market to bear market to i dont know how to characterize characterizeize this morning were 20 off the lows the most beaten up are rallying the most retailers they are a big today wayfair up best day since march 26th for the banks. Here are some of the regional banks. Sta stap stap
[applause]. [applause] thank you for coming its great to be back one of the greatest independent bookstores in the entire country. [applause] i spent many a day and night looking at my books with my daughter back there. You can buy as many books as you want. Makes an excellent gift item. You could write out all of your Holiday Shopping tonight. [applause]. Its not just a book about housing i think its not an exaggeration to call this a manuscript. And then with the housing crisis and then it begins and then it ends up the author of sb 50 and may be coming back. Take us back to the great migration and the movement west and with the singlefamily home. And with the barbecue a backyard. And the california living. And some of the early history of how california grew and the role housing has played. It is a journalism book with history in it. So what it is like to be a rich society in america. And then the house with an orange tree in our backyard. People really thought of it as an instructi
New york stats state we have full Team Coverage stooefr steve is all over the unprecedented action the package has hit some snags what is the latest the out come is looking like the same one we got last night with democrats not signing onto advance the 1. 6 plus trillion dollar stimulus package. We have a vote right now of 4442. 44 yays. 42 nays. You need 60 votes to pass it its difficult with five in swe selfquarantine. Bernie sanders not voted last night. He was following this from afar and following this in negotiations from there. Senator Chuck Schumer said today this vote is meaningless the package is done. The real work is happening behind closed doors. To that end he said that work is very, very close to producing a deal that inif he canned some optimism into the market but he is making clear hes not authorized democrats to back this move to advance the vote as it stands. We know cabinet members have been meeting to reach a compromise slow and steady progress is what they are ca