The committee on rules and Administration Come to order. I thank my colleagues for attending todays hearing, some virtually, some in person, same for our witnesses, we are going to be welcoming them as well. The secretary of the Smithsonian Institution, miss jane abraham, former chairman of the Congressional Commission to study the potential for a National Womens History Museum. Miss cc rojas of the Latino Coalition and mister danny vargas, of the National Museum of the american latino. I want to thank all of them for joining us. We will hear from a number of senators who have spent time on this had been sponsors of this bill. Senator collins, senator cornyn, senator menendez joining us for remarks following the remarks of the three of us. This is secretary bunchs second appearance before the senate rules committee. We are grateful to have him with us today. He was appointed secretary of the Smithsonian Institution in june of 2019, what a first year you have had. Obviously covid19 forc
87, the s p 500 is up 10. 5 this month the russell 2000, the biggest ever month live oly outperforma small caps that sort of sets the scene for us your note today to our producers to me says everything, bryn. You say, yeah, were overbought, the market is technically ahead of itself, 200Day Moving Average but wed be buyers anyway yeah, you summed it up perfectly. I think to give some perspective around that, when youre looking at technicians or technical calls, the 200 Day Moving Average, over 90 of stocks in the s p are over their 200 Day Moving Average when that number gets above 80 , thats typically a time to take a stand back as a trader as an investor, though, as we are, you want to take a look at that and say, hey, if we get a selloff, which im sure well get because thats just the price of admission for being an equity investor, we absolutely want to be in stocks because what are your alternatives cash or bonds . And both of those offer you no yield and so we also think that next
The open this morning we will get really close again to 30000 on the dow. Heres another positive in all the transition from trump to biden has begun and investors like it, the dow was up 1 , 300 points, s p up three quarters in the nasdaq up close to half a percentage point, lots of green this morning and theres this, john kerry is back, the climate envoy and will sit on the National Security council, not good news for Americas Energy independence. Kerry will try to take us back into the paris climate record, but here is a guy taking us to the future, elon musk, yesterday as tesla stock rallied musk gained 7 billion in one day, he is worth 128 billion in the last week he surpassed Mark Zuckerberg and bill gates to become the second richest in the world, jeff bezos remains firmly in the number one spot. On todays show lets celebrate thanksgiving, the timing on the restrictions but resistance is growing, scott shalit he will join us from arizona hes part of the great exodus and will take
Just come on into the conversation if you like. What im hearing is that we actually have pretty much consensus on item number 1. Item number 2, i feel there is a pathway there. Item number 3, i believe it will take more work with the Sheriffs Department. As a board member, we dont have the authority to actually change the rules and procedures within the electronic monitoring in the Sheriffs Department, but we can actually help facilitate a conversation that we reach a consensus and agreement on how we can better serve those people, those clients we are serving. I think these three recommendations brought forth is an attempt to do that. Before we go any further and we lose some of our Public Commenters, i would like to open this up for Public Comment on items number one and two. Can you see how many speakers we have in the queue . My apologies everyone that this hearing has gone on for such a long time, but as i said, that we have continued this item, i think five times. I felt like we
To see everybody the dow did get to 29942, that is an alltime intra day high. Fell back a bit off that, a better than 400point game for the dow, s p better than 1 , nasdaq a little shy of that and then the small caps all the way to the righthand side of your screen banks, travel and leisure stocks leading the way. Some of the stayathome stocks. Theres the possibility in the middle of december the Federal Reserve steps in and provides further stimulus to replace whats missing from fiscal policy makers i want investors to give consideration to who potentially would be the treasury secretary. And, lastly, what will incoming president elect bidens policy be towards the chinese i think the reintroduction of a favorable relationship is a positive one so there are many catalysts coming as it rates to the reopening of stocks, you could look at financials and energies, but the one sector that stands out to me as the opportunity is industrials it screams high in terms of return on equity, its go