Representative be waived onto their Committee Without objection so ordered. Welcome to our hearing on recent developments and i now recognize myself for an Opening Statement and then the Ranking Member. Does the chairwoman wish to have an Opening Statement . I will recognize her with your permission our colleague will also have an Opening Statement. The Postal Service is the crown jewel of the federal i government serving every household every day 630,000 brave individuals at every district and according to pew research 91 percent of americans have a favorable view of the Postal Service. Leaps and bounds above that of any other federal entity. During the coronavirus pandemic the Postal Service value is greater than ever as a formal component and serving as a linchpin nations responsee pandemic. Found 2020 harris poll that the Postal Service ranked as the most Important Company to americans during the pandemic because it is a constant in our lives. That ings companies it outranks compan
Dozens of earnings. Softbank. Cus on nextn move it on to our terminal chart that shows softbank. They have said they will buyback 12 of their shares. Up more than 40 percent yeartodate for softbank. Dollar has been firmly in focus, given what we have been hearing from the fed. The index is down. 4 . Looking for a fifth week of decline for the u. S. Dollar. Gold is up. You have seen a little bit of softness towards the end of the session. Can it break above 2000 and stay there . Crude is at 40 a barrel, up. 8 . There is concern. Is a concern in terms of the pandemic. Point. Own one basis look at lets have a the first word news, kicking things off with the global coronavirus case levels. Passing the 17 million mark. All out with a Record Number of deaths. California had its second deadliest days deadliest day. Texas, hospitalizations dropped for a ninth straight day. Almost 10,000 people in the u. K. A earlystagen vaccine. Almost 1000 new infections in germany. The australians have a cas
The big boet on bitcoin thats got everyone talking. But first, we begin with a trip back to the future for the markets and this was flagged by our own dan nathan a year ago today it was trading at 2900 and basically back to that exact level and lets fire up the flex capacitor to see what life looked like and wow, the world would change this time last year the s p 500 would trade 17 times pe and the tenyear note, and unemployment j was just over 3. 5 and Flash Forward to today, it is trading 20 times, and the yield. 6 and unemployment is projected to hit 16 and gdp is negative for the first time in over a decade. The world has been turned upside down and the market doesnt steam to care. So if youre an investor, should you make like a tree and get out of there i am told thats a funny line from the movie youve never seen the movie i saw it. The movie was released in the summer of 85. I think i turned 50 that year. It dawned on me as i listened to your intro the economy is george mcfly. Th
In chicago with more. Drone this is a decision to halt production that was reached by the bored of directors from being who med yesterday and today here in chicago. And we have been hearing from people familiar that the board was leaning towards halting as owe posed to slowing it down its currently at 42 per month thats how many they build its been at that rate since back in april. Remember, it was grounded in march. What the company decided, at some point when you have more than 100 built but not delivered, it makes more sense to shut down the line until the grounding is lifted. The workers who are out at that plant in renton, washington, about 12,000, will not be furloughed they will be redeployed to other plants or projects within the company. But they will not be laid off. They will continue to be paid. The question now is, how long does this go how long will they shut down the line and nobody is quite sure the trigger for bringing the line back up will be when the faa is close to
Fleet. Abercrombie fitch, American Eagle and urban all dropping were going shopping for opportunity. But first all quiet on the western front. Market hit all him record high different story in china where doubts are growing that a trade deal will get done any time soon cnbc first broke this story. We go to beijing for the very latest reporter it does appear as though theres growing pessimism within the government here that a deal can be reached this year. A government source familiar with the trade talks told me people here were troubled when President Trump about a week ago had suggested that there was no agreement on phasing out tariffs. Thats a very important point to beijing. He said the chinese side felt they had an agreement in principle. Now there continues to be disagreement over some of the basic points in the deal for example, the u. S. Has been pushing the chinese to have specific targets for agricultural purchase. He said the chinese have been resisting at least in part bec