Investors are increasingly pinning their hopes to a virus recovery on the vaccine so modernas news is helping the market this monday morning. And its own stock, of course. The dow industrials, probably going to go up a few points, maybe 70. S p up about 12. The nasdaq, up 85 points. Green this monday morning. Next headline, gold. The price is now at an alltime high, closing in on 2,000 an ounce. A weak dollar plus the fear of a postvirus bout of inflation, plus the u. S. china escalation, all pushing the price to, what, 1956 per ounce as of right now. Were expecting the republicans to detail their trillion dollar stimulus plan perhaps today. 1200 checks, Liability Protection for business extended but reduced emergency unemployment bonuses. Larry kudlow on that later on todays program right here. Now, look at big tech. Top executives from four of them virtually testify to Congress Later this week. This is important. What are we going to do with the crown jewels of americas business . Ta
Commerzbank. There it is, new york city, the private equity firm really going after commerzbank. They throw out the chairman, the ceo, and you have to wonder how t adjusts the plan from adjusts the plan. The body count of three major european banks it is a stunning 61,000 redundancies just over the last number of months. Costcutting has got to be front and center for mr. Sewing. Francine he mentioned that a little bit. We also had a conversation on wirecard, saying there is something that they need to look at even more. Lets get to first word news with your take a group that. Reportedeijing has zero new coronavirus cases for the first time in 26 days, a sign that a resurgence that the second wave in china is now under control. Instead of an across the board lockdown, beijing tested more than 11 million people. Anthony fauci says any Coronavirus Vaccine would be limited in how it would provide protection. He told a Video Conference that Health Officials assume a shot would offer a degre
Record high after a global meltdown melt up on monday. Futures are pointing lower. The cash trade tray is less than an hour away. Hong kong on notice. Microsoft joins google, facebook, and twitter in pausing government user data requests. Tiktok also pulls out of hong kong. The risk rally pauses. Equity markets and futures trade grow aboutncerns rising coronavirus infections. Bloomberg learns that Deutsche Bank and google are planning a 10 Year Partnership on cloud and tech investment. Computing and tech investment. Just under an hour away from the start of cash equity trading across europe. Futures are down right now. We see losses on ftse futures of 0. 5 . About 0. 6 . Es, futuresxx you choose down about 0. 7 . Yesterday we got germany factory orders, missing the mark. Coming out at a 10 gain compared to a 15 estimate. Now we are getting german 7. 8 . Rial output rising that is the month over month figure. The estimate was for 11. 1 . Dataagain, german economic missing the estimate,
Any time. Members are reminded to keep their video function on at all times. Members are reminded that theyre responsible for muting and unmuting themselves and to mute themselves after they are finished speaking. Consistent with the regulations accompanying the resolution, staff will mute members when not recognized to avoid inadvertent background noise. All house rules relating to order and decorum apply to this remote hearing. [ inaudible ] economy and i know recognize myself for four minutes to give an opening statement. Chair powell, the law that required the Federal Reserve chair to testify before congress twice each year was established back in 1978. However, no fed chair has ever testified before this committee with the economy in the condition that it is in today. More than 116,000 americans are dead from the coronavirus. And just last week, 21 states recorded an increase in their average daily new cases compared to the prior week. The april jobs report was the worst in Americ
And the chaithe chair is authore basis of the subcommittee without objection members of the full committee and on the subcommittee are authorized to participate in todays hearing. To keep their video function on at all times if they were not recognized by the chair. They applied to this hearing. [inaudible] in addition participating in person enforcing the order and the to we provided the following guidance for meetings in the limited closed spaces. This is one such as the Committee Hearing for greater than 15 minutes the coverings are required and the chair will treat Wearing Masks and all should wear masks. Members who do not wish to may participate to the platform. This hearing is entitled Capital Markets and Emergency Landing in the era. I have a point of inquiry. It was my understanding based on the rules that masks were required to if speaking in the question purer cow. I just want to make sure. It is the strong preference that we wear the masks even while speaking. But that rule