DemocratJessica Rosenworcel and brendan carr. This is two and half hours. This hearinge will get underway. Because we have time constraints i will forgo my Opening Statement and ask for unanimous consent to be put into the record and we will proceed directly to introductions that we are going to hear and hopefully to the panel. Senator nelson wants to make an opener and we will do that after we recognize senator roberts, the senior senator from kansas who is here and will open things up this morning. Senator roberts . Sen. Roberts thank you. Thank you Ranking Member nelson. And fellow senators, senator moran. And members of the committee. It is a great privilege for me to introduce a friend, ajit pai , for his reappointment to the federal commission. It is not often i find myself on the side, but i have to imagine that on occasions such as this i must be calmer than you are. [laughter] an. Roberts that is sort of inside story. My staff wrote that. I have no idea what it means. [laughte
Good morning. Very warm welcome to Worldwide Exchange here on cnbc. Im wilfred frost along with seema mody in for sara today. Good morning. Good morning. Great to be here. Lets check in on the market action. Record highs once again across the board yesterday. About 0. 5 to 0. 6 of gains and unlike last week it was a broad rally. Every sector in positive territory, real estate and energy the leaders of the pack. The worst performer, materials, that was up 0. 4 . So only a tenth shy of the overall market return. Highlighting the broad nature of yesterdays gains and optimism. Lets look as well. Futures call for another set of record highs today, only slightly. Essentially the futures market is flat, even though the color is green. If we look at tenyear note, 2. 425 . Of course this time last week, we did see yields spike significantly off the back of Janet Yellens comments in congress, slightly more hawkish than expected tone. Its amazing how quickly we came back down once though comments
And germany markets there closed for a public holiday. Oil prices are rising this morning. A longterm bear at Goldman Sachs now says the market has ended two years of oversupply and flipped into a deficit. The firm says this allows or follows disruption supplies from nigeria, venezuela, the United States and you can see wti is up by about 2 points. We were at 30 now its back to 50 and youre doing the super spike. The super spike came out a while ago. Remember the London Office . The supply has been shrinking. Is it ready to go up to 60 or 70 . Because they already missed the move from 27 back to 50. Yeah. But remember the super spike, that came out of gold mans London Office at the time. Yeah, i guess. But goldman they have many analysts. Other analysts will say its going down and some say up. Just another brand. Have you noticed three straight weeks since that person was here to say we are at an important level. What happens in the next weeks decides. Right. We are at factory data in
There. The cac in france down by close to 1 . In italy the ftse was down by 2. 19 . The dax is off by just ov over. 60 . Also, well check out crude oil prices today. Crude oil after a big rebound you can see is down by 1. 25 . Wti for july, that is a new contract, is now trading at 47. 81. Okay. We have a big top story to talk about this morning. A potential deal, jer m bayer o a deal valued at 62 billion to buy monsanto. Lets talk to bayers ceo about th this, werner baumann, your decision came about how . Monsanto received a private offer from us. It was out in the open and we want to explain to the public and to shareholders what the content of the offer is and why it is so attractive to shareholders. Should we be taking your public stance as one where there are private negotiations are taking place, or should we take you going public to educate the public on what is going on and to put pressure on monsanto . Well, we are early days at this point in time. And we have submitted our of
Last couple of weeks. It just is a way of acknowledging the lousy jobs report. This is the last time well hear from the fed chair before the Central Banks media blackout takes affect in front of the rate decision. By every count, a rate hike is practically off the table for the month of june based on the 38,000 jobs print we got, which is so far below expectations. It is now winning in the polls, the brexit, but its a roach motel. They are so stuck. But you werent here on friday. So were talking youve heard over and over, i just experts, i just dont see how my life is not going to matter whether it is june or july, so it doesnt matter to me when they raise, whether it is june or july, all the experts say june or july. And we were making the point, between june or july or between now and june, there are so many things that can happen, whether it is a terrorist attack, a brexit, cyprus, greece, if you are going to monitor every single thing that happens in the world, the fed is always go