The outgoing chairman, mike johnson from louisiana from indiana mike johnson from louisiana and jim thanks from indiana. Im going to do a quick interruption of them and then ask questions but we will take questions from the audience. If you would like to ask questions, please submit them to chris see hris. Gavin at a. Org. We will put them up. I have a bunch of my own questions as well so we will try to get to them as they come up. Representative jim thanks is chairman elect to the committee and representative thinks is inn his second term representative of the Third District covering the Northeast Corner of the date including four lane. Thanks service in the Armed Services committee on education and Labor Committee and Veterans Affairs committee. He is the father of Young Children so we always like to have, no about peoples families. Representative johnson is the outgoing chairman, the second term representing Fourth District of louisiana covering the northwest part of the state inclu
The headline number, 57. 5, down from 59. 3. This is a very elevated number by historical standards still, but there are signs of some weakness creeping into those figures. It was unlikely they would remain as high as they did. The survey number was 58. We come through with a headline number of 57. 5. Prices paid a little light as well. The employment number has dropped quite significantly. This may be something you want to Pay Attention to. Remember, we are waiting for the payrolls number friday. 48. 4 is where we are coming through their. Construction spending month on month, 1. 3 . Lets break it all down. Lets get some details. Mike mckee come over to you. Michael you gave us most of the details there that matter, especially that employment number. That has been concerning people in the markets. We have seen a slowdown in the economy reflected in the topdown numbers, although manufacturing has been the source of strength in most economies around the world since the depth of the covi
3, 2, 1. This hearing will now come to order. Is in a hybrid format and the hearing room has been configured to maintain the recommended six foot social distancing between senators, witnesses and other individuals in the room necessary to operate the hearing, which we have kept to a minimum. , a those joining remotely few videoconferencing reminders which you should be familiar with at this point. Once you start speaking, there will be a slight delay before your display on the screen. To minimize background noise, click the mute button until it is returned to speak or ask questions. Issue,e is a technology we will move to the next senator until it is resolved. I remind senators and our witnesses the fiveminute clock still applies. Those remote should have on your screen one of the boxes labeled clock which will show how much time is remaining. Weve had some trouble getting those boxes to everyone screen or at least getting everybody to be able to find them and follow them. We are going
Investors are shrugging that off as stocks look to rally at the open. One name that may not rally is zoom. Shares of zoom are sinking yeah, in the premarket, work from home stock taking a hit from a rising free user base and increasing cloud costs and we have vaccine optimism, moderna and pfizer filing for emergency use and Vice President pence says vaccine rollout expected to begin in two weeks carl all right jim, i guess the question of the morning is whether that rotation, that worked historically well in the month of november, still applies. I think were running out of gas in terms of the oil and gas and focusing on exxon. Stock may not go down, giving the dividend, it says, look, were at wits end and the big Exploration Development period for exxon, market leader, u. S. Leader, is i think now over. We are following were following europe and japan and i think that we forget that you come in today, and you look for all sorts of reasons why were up and up strongly except we dont look
Republican committee as many of you know has been an influential center of conservative thinking and policies for years. Scholars often work with the committee on major issues. I intensified for the committee and size them on issues concerning Food Security and policy and weve had our china scholars. The emerging young leadership of the conservative movement in the United States and we are very pleased to have the outgoing chairman mike johnson of louisiana and incoming chairman of indiana. Mike johnson from louisiana and jim banks from indiana. Im going to do a quick introduction of them and ask questions but we will take questions from the audience. We will put them up on the chat box although i do have a bunch of my own questions as well the chairman elect and representative is in his second term representing the Third District of indiana covering the Northeast Corner of the state including fort wayne. Representative banks serves on the Armed Services committee, the Labor Committee