And maybe some headlines on stimulus before then hit a bit of a dip here dow down 150 or so. The nfl confirms covid cases among players and nonplayers with the Tennessee Titans. And governor comeau saying theyre now up 3 . We might start to talk about schools closing. Meanwhile valuations is where we will begin this morning as investors try to interpret data. The price to earnings ratio of a nasdaq 100 of the last ten years, the pe ratio, it is doubled and it is at that alltime high. As you see up there above 30 it was at around 15 to 18. 40 of that index is made up of just the five biggest tech stocks so here is the question. Are stock prices in big tech stretched to a point where the value wakes no longer makes sen. We have the editor and chief of the verge joining us we have not seen valuations among the biggest stretched to this point in a long time. I kaech hearing this whole peer group value thing, but what if theyre all out of whack yeah, i think that is a big question why would
Needed to hear not he showed the stark contrast between he and vice he and the current president i think also he spoke to all of the issues that americans are grappling with right now he spoke to his plan to get us out of this Global Pandemic that has just taking our country just to the right he talked about how hes going to invest in our country to get us back on our economically he also talked about our standing in the rest of the world and in talk about his ability to to you know make america better standing with our citizens and our fellow countries in the world and i think he hit on a policy point but he also talked about the issues that americans are grappling with issues of racism a shock to racism he was very bold on that and he also i believe was very bold in touching in reminding us who he is any showed us the strength i think you know weve seen all the comments about him and sleepy joe and these things that you know these things that President Trump has put out there at the
Peter navarro. It has been a huge swing s p futures up, nasdaq up by 62. The nasdaq up seven sessions in a row. S p is up. Watching for the month of june, all three of these is up on track to be the third month in a row taking a look at treasury yields youll see the 10year is yielding 0. 715 . Crude oil up above 40 for the First Time Since the lockdown in early march. Getting to the story it has been a wild ride overnight. Last night on fox news, white house trade advisor Peter Navarro responded to a question about the china trade deal saying it is, quote, over. At that point, futures plunged about 400 points but then recovered after he later clarified his comments saying it had nothing to do with the phase 1 trade deal which continues to be in place. He was speaking to the quote lack of trust of the Chinese Party after they lied about the origins of the chinese virus. President trump posting a tweet saying the china trade deal is fully in tact. The lesson is that the move is a good re
Plan parent governor murphy says forill go continue to press tax fairness. According to a bloomberg survey, the central bank is likely to cut rates by a quarter of 1 point in september and again in december before a week as meeting of fed policymakers. Economists were expecting just one rate cut. U. S. Unemployment filings increased to an unexpected high. Job claims rose to 207,000. Among two people eligible held around 1 . Jobless claims remain near historically low levels. Global news 24 hours a day on air and at tick tock on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. I am Mark Crumpton. This is bloomberg. This is bloomberg markets, the close. Awayn we are 30 minutes from the end of the trading day. The outperform a today is the nasdaq. This mood music is one of risk on in spite of the mixed message of whether there will be any progress in g20. A ban on tech sales to quality muddied the waters. The euro basically flat. Ofhad woeful data in
Good morning, the subcommittee on communications and technology will come to order. And the chair recognizes himself five its with the statement. I begin thank you very much to our witnesses for being here today to examine the importance of a. M. Radio receivers in vehicles. A. Im radio has been an integral part of our society for well over a century, and at the americans local news serving is the backbone to our nations Emergency Communications infrastructure. Over 45 million americans tune into a am radio each month, they rely on it for local news Weather Sports and Emergency Alerts its unique frequency characteristics allow for signatures grabbed foreign wide overcoming geographical barriers and reach in both urban and remote areas. This makes a am radio and a valuable tool during times of crisis. When hurricanes, tornadoes, and other Natural Disasters strike, and am radio remains steadfast providing Vital Information to those in affected areas when other Communication Channels fail