This is about 50 minutes. Okay. Well, welcome, everyone, to our meeting on ai and advance system Quantum Information Sciences, quantum computing, et cetera. Im pleased to have an opportunity to welcome michael crosteus, chief Technology Officer of the United States. I think weve come to the right place to engage this important subject. As you know, the administration has taken a very energetic position in trying to advance the state of the art in both the applications of Artificial Intelligence and the Quantum Information Sciences to our nondefense applications. Parallel efforts of substantial scale in the department of defense through the Defense Advance Research projects agency and other defense entities, because these technologies are, indeed, of universal applications. So i would like to take an opportunity to begin the discussion with michael to perhaps start with the bit of current news where europe has European Union in particular has tabled some of their ideas about how to mana
We need to tweak it. Lemonis his sales pitch definitely needs work. I think you guys have done a [bleep] job explaining to them why they need to own it. And his Business Plan needs a reality check. I think your numbers are obscenely wrong. If i cant get him to loosen up and work on collaborating. Ethan i think there were a lot of people that were saying the same thing about a car, when henry ford came out with the car. They were happy with the horsedrawn carriages, but i think that, you know, longterm, worked out in a different way. Lemonis . This company may be up a creek without a paddle. Weve got a deal . Ethan uh. Uh, well, i, the. Um. Lemonis my name is marcus lemonis, and i risk my own money to save struggling businesses. Were not gonna wake up every morning wondering if we have a job. Were gonna wake up every morning wondering how many jobs we have to do. Its not always pretty. Everythings gonna change. Everything. But i do it to save jobs, and i do it to make money. This. Lets
Week for the nasdaq. That is the first time youll see stocks down for the major averages in three weeks. This morning, we are still near alltime highs for both the s p 500 and the nasdaq looking at the treasury market, right now, 10year at 1. 486 some additional pressure concerns about Global Growth and what it will mean for the economy. S p was out saying for the year, you could see chinese growth at 4. 4 for the full year that concern if they see a peak to the virus in march. All these new highs and goldman talking potential correction i can see how the case could be made right now is there anything more than a possible Global Pandemic i think about it it is hard to buy any stock that wouldnt be impacted by a bad outcome in this. Right people assume it will be a vshaped recovery and that it will happen sooner rather than later. With coronavirus. After it going away. But we dont know if it goes away and we still dont know what kind of numbers we are getting. It appears it is slowing a
Sure hope it z whidoes while we wait for that, the numbers hospitalized in china and the number that are released and die. Its going up to 20 of the nasdaq is up 2 that is where we should rollout our game plan for next week. First off, as you know, were closed for monday for president s day. China is very much open. I fear another awful set of statistics i dont know why more people arent investing in this they want people to go back to work they dont want to let people down so it cant be too discouraging. The whole world is hanging on the numbers. If this outbreak gode badly, it could turn into a crisis for the globe. Youll have executives fearing for their lives. Thats right, their very lives the infections will keep climbing and again, remember what i said from the very beginning. No one listened to me. Trust no numbers out of china. Dont trust them walmart reports. This comes with an Analyst Meeting this time. I heard a bunch of people predict this week that the quarter might be wea
The dow gained 91 points the s p only climbed 1. 9 . Nasdaq barely at all 0. 8 where do i even start . This morning kicked off with an interview we did with the chief Economic Advisor and my former cohost here on cnbc, he explained that the agreement side with china is a lot more farreaching than most people realize. It actually forces china to change the way it runs its economy to create a more level playing field. He said our relationship with china is quite cordial because the Chinese Government recognizes that the United States doesnt want to disengage with them. While this deal was being negotiated, the big fault line was repeating those who dont believe china can ever be redeemed so why not just keep hitting them with tariffs forever so wreck their economy and those that think that china can be a good trading partner if theyre willing to play by the rules. Call it the engage camp versus the disengage camp and the engage camp just won from the stock market perspective, that is fab