Quarter. The Second Quarter is probably going to be weak. In fact, in the view of many, output declining output lower in the Second Quarter than in the First Quarter. After that, its very hard to say how big the effects will be or how long they will last thats going to depend, of course, on how widely the virus spreads, which is something that is highly uncertain and i would say in fact unknowable jim, so its just you and me today. Lets start broad. Get your thoughts on the last 72 hours. What are you thinking right now . I think that the one thing i was very worried about in the 2007 and the 2009 issue, could i take out 50,000 from Jpmorgan Bank because i was concerned. And i took it out. I took money out of a lot of Different Bank accounts. This time im not. What was the purpose of last night . Theres a lot of things. The purpose of last night was to make sure you didnt take money out of the bank because you didnt trust the system. You dont have to bury it. That was important now the
Purchases. They remain over odds on that. Apple and nike are leading the dow higher joining us for the hour to talk about all of that stephanie link, a tiaa company relatively quiet day but that doesnt mean that theres nothing going on we had Economic Data and now this headline with u. S. And china still at odds. Here we go again. I thought the data today, the Economic Data was the driver pretty good. Initial claims, the trade data in general thats going to help Fourth Quarter gdp i thought this week ism services was pretty good. Were seeing okay. Overseas were seeing some pretty good data especially the pmis in china, europe, europe gdp today no worse than expected all of this seems to be setting up for better growth for 2020. We just need trade resolution one way or the other german factory orders and retail sales softer than expected i get the trend is less bad in general in the last month. Factory orders actually was revised last month higher. Lets see. Less bad, but i think theres
Amd, starbucks, pinterest out with results in the last hour shares are all on the move here. Weve got the ateam of reporters ready to dive into the numbers for us were digging into amd, the Conference Call is just kicking off. Amd shares are higher well be looking for more clarity on two factors progress made on amds a. I. Chip todays report shows us that Data Center Revenue was mostly in line, client business, which includes pc processors, sales actually came in higher than estimated. Its a very similar narrative to what we saw from intell last week heading into q3, the Company Expects data center and client to each grow double digit percentages. But they didnt provide any numbers in the report. And thats going to offset some gaming weakness. And this comes even though i. T. Budgets have been prioritizing a. I. Chips over traditional servers. Overall, thats good news for the stock, contributing to the bump that were seeing right now, as well as the earnings beat lastly, a. I. Will of
For them to tighten it up a bit. I think secretary muniz you certainly have got confidence in it my time has expired. But i would say to the chairman its incomprehensible that we didnt have full access to that. Senator nelson. Thank you, gentlemen, all. Thank you for your public service. Mr. Secretary lou, i want to go down a different road. We have heard so many different commentaries about how much of a winfall the sanctions relief would be for iran. We have heard 100, 150 billion, the chairman is speaking of 50 or 60 billion. You tell me if this is correct, that basically sanctions relief of what has been withheld is about 100 billion, but in that 100 billion there are contractual obligations of iran to pay some 50 billion, and therefore, the net that would approximately come to iran would be about 50 billion. Is that somewhere in the ballpark . Senator that is roughly correct. Im happy to walk down the numbers to the best of my knowledge you dont need to. Im trying to get concepts
Will unlikely to ever. And well continue to stand alongside them. The may 2015 joint statement following the u. S. And Gulf Cooperation Council or gcc meetings at camp david provided a road map for how the administration plans to proceed. Critics of the vienna agreement point to flaws related to irans missile capability and support of terrorist proxies across the region. The camp david statement outline ours commitment to enhancing Ballistic Missile defense capabilities of the gcc and improving their operability to enhance defense. It sates well be increasing training and exercise engagements with gcc special Operation Forces developments to better defend against iran. These are important efforts i look forward to hearing about today. One final point. These negotiations focused on denying iran a pathway to a Nuclear Weapon. A nuclear iran would be a more Formidable Force in the region. And as it has repeatedly demonstrated, not a force for peace and stability but one that invokinge ing