Our chairman, the chairman of the full Senate Judiciary committee, senator graham, for his support of this hearing. After i and then senator klobuchar giving our opening remarks, well hear from two panels of witnesses with questions from members of the subcommittee. We have Something Interesting to deal with in the senate and every time they call votes, when they call votes during a subcommittee hearing, were at their mercy. Senator klobuchar and i have both cast our votes on the first of a series of three or four. At some point, were going to have to pause or tag team as we allow other members to sit in for us, just dont be alarmed if that happens. The focus of todays hearing is googles Online Advertising business. Whether its a monopolyist and whether it might have engaged in any conduct that harms competition and harms consumers. But before we go into that, i want to say just a few things about antitrust policy more broadly. Ive been a member of the subcommittee ever since 2011 when
Lets get straight to steve liesman. Jay powell testimony before the House Services committee will note improvement in the economy saying Household Spending has recovered three quarters of the decline and say this is in part response to federal spending and higher Unemployment Benefits which is running down he said housing has rebounded and Business Investment showing signs of improvement but overall employment and Business Activity with well below the prepandemic levels an the out light is uncertain. He makes special mention of the feds main Street Lending program, a 600 billion program with a backstop from the troo z treasury hell be speaking tomorrow before the house financial Services Committee with treasury secretary Steve Mnuchin and this is required testimony about the cares act where they have to quarterly appear before congress and discuss progress with the lending programs. The terminology, highly uncertain, is that different from what the clair has used in the past. This is t
,ood morning on Bloomberg Radio good morning on Bloomberg Television as well. Interesting markets as well. We will talk about the market in a moment, whether you need to climb back on board. Lets get right to the yields right now. Yields a little bit higher here. That has proven to be lower prices, stronger yield just in the last hour. Jonathan yields up about a basis point on the 10 year, but yields have been all over the place. They havent really gone anywhere in the last week. Weve been in and around 70 basis points on the 10 year, and that is about where we are this morning. Tom we got a weve got to touch on tiffany. I know youve wondered over in london, and you need the tiffany china mugs for 200 pounds large. But they are not going to do it with lvmh. Jonathan i will take a pass on that. I will be spending less time there, thats for sure. The reason they are giving and the reason people are suggesting is around tariffs on french goods. It is not for me to say whether that has bee
And tech is staging a comeback, or at least it was, after yesterdays big losses well off the highs. Another brutal day of nikola the first sell rating on wall street and colorados governor warning of a potential wave of Coronavirus Infections the governor will join us with the new measures he is taking to try to stop the spread first up, lets focus on the big stories were watching one hour left of trade we have the latest on the stimulus stalemate in washington a half hearted bounce this morning. It seems like the dip buyers they keep drawing new lines in the sand as they back up and this morning the s p 500 futures got down to 3200 almost right to the tick we did bounce off there and then we have the post 2 00 p. M. Eastern time selling again a little Risk Reduction where people are not quite sure if if the footing is there for a strong close this down trend developed here were going back gagain to the june 8th high. Were turning around i point to the late july area. A lot of the leve
Into a frenzy. We want to show confidence. We want to show strength. We want to show strength as a nation and that is what i have done. And we have done very well. Mark the president also told woodward the virus is more deadly than the flu. In february and march, mr. Trump said publicly that the u. S. Had the virus under control. He repeatedly compared it to the flu and said it could they do way. Meantime, democratic president ial nominee joe biden says the president is responsible for the deaths of tens of thousands of americans from coronavirus. Campaigning in michigan, mr. Biden said the president failed to do his job on purpose. It is another sign of life returning to normal in new york city, Governor Andrew Cuomo says restaurants in manhattan can reopen for Indoor Dining september 30, capacity limited to 25 . Governor cuomo says the city will dispatch hundreds of inspectors to make sure guidelines are followed. He is calling on citizens to speak up about violations. Hurricane mari