You with us equity markets are rallying shares in japan hit a 30 year high on the 1st day of trading off the Television Networks declared joe biden the winner of the u. S. President ial election there are hopes that a Biden Administration would expand fiscal stimulus in the u. S. Stepped up measures to reduce the spread of covert 19 i want to take a less aggressive approach in trade policy but how does his slogan buy american fit in here lets check out some of bidens ideas about how to stimulate the economy. Will it be like night and day. Joe biden has promised to create a more restrained balanced American Economy instead of the full throttle one of the past 4 years. In practice that means a return to regulations on industry greater powers for financial watchdogs and Consumer Protections and above all higher taxes on the wealthy and businesses im going to raise taxes im not going to raise taxes on anybody making less than 400. 00 grand but but you wont pay a penny more but those making
House democrats accuse apple, google, facebook and amazon of abusing their market power and that Congress Needs to rein them in. Eli lilly asking the fda to authorize emergency use for its experimental covid19 antibody cocktail those shares are rallying ahead of the open. Jim, markets trying to do a bit of a reset now as goldman weighs in this morning and says airline stimulus likely, further ppp probably not likely. What are we . Well, i mean, i think that the market went down after what the president said the president was talking about market hitting new highs and the only person that was sending them down was him. I think he does react. I think it is probably, youre not going to get that, say, listen, the dow was down, there is really in other reason. He completely dismissed Speaker Pelosi i dont know what he did with what secretary mnuchin was speaking about, whether there were phone call going on and they were irrelevant obviously he addressed the fact that the senate was interes
Now recall, back in the cares act there was an extension of a federal supplement to Unemployment Insurance. So we put in place a 600 federal benefit on top of the state benefit. At the time there were concerns about whether that would lead to people on Unemployment Insurance getting more money than they would at work, and there was actually an amendment here on the house floor, on the senate floor regarding that. And although it did not pass, i think pretty much every republican supported it with that concern. In fact, thats whats happened. If you look at whats happened over the past couple of months, as the 600 has been put in place, it clearly has led to people making more on Unemployment Insurance often than they can make at work. In fact, the congressional budget office, which is a Nonpartisan Group here in the United States congress that analyzes some of these economic issues, has said that if someone is on Unemployment Insurance today, they are likely to be making substantially m
Quorum call the presiding officer the senator for mississippi. Without objection. Under the previous order, all postcloture time has expired. The question is on the nomination. A senator i ask for the yeas and nays. The presiding officer is there a sufficient second. There appears to be. The clerk will call the roll. Vote vote vote the presiding officer are there any other senators wishing to vote or change their vote . If not, the yeas are 556789 the nays are 42. The nomination is confirmed. Under the previous order, the motion to reconsider is considered made and laid upon the table and the president will be immediately notified of the senates action. A senator mr. President . The presiding officer the senator follow alaska. Mr. Sullivan mr. President , i ask unanimous consent the senate proceed to legislative session for a period of morning business with senators permitted to speak therein for up to ten minutes. The presiding officer without objection. Mr. Sullivan mr. President , i
Seeing this as a sign that they do see sort of a light on the horizon here. With all the states beginning reopening, expanding the reopening, it will continue to be good for the economy, even in a staggered fashion. There is that. Were following markets across the board. Even issues with disappointing numbers and earnings, most seem to have factored that in. So well get detail by detail, casebycase, sector by sector. This is a remarkable comeback here. A lot of this buoyed by this news out of Gilead Sciences that its drug just might be the panacea some hoped it would be for treatment of the coronavirus. Way too early to tell that here but certainly a different reaction as that stock soars close to 6 on the day. Blake burman, monitoring developments at the white house right now including the president having a sitdown with the louisiana governor. Also meeting with more ceos and those in the agriculture, meat industry. The president you might recall has said that the Meat Processing plan