This astrazeneca oxford. I do say at this point, carl, you get the pfizer news about germ germany. What you have to watch is the crawl underneath there will be endless buying and things like vaccine inc. And im seeing buying of glaxo i think people want to calm down i have sorrento tonight. Not all news are good. 100 companies doing vaccines and lets take a breath because other things including a stimulus which is needed if the vaccines fail. The analysts are not discouraging traders or investors from trying to play the vaccine race jpm cuts moderna run and no one is preaching a message of slow and steady wins the race here. Nova just continually up. People who love these. Mark cuban had some great comments, carl people who come to this market, initially were in the early phase of this, but people who cannot resist. When i get up at 4 00, 3 30, theyre in there buying these stocks i dont know who these people are, but theyre having the time of their life and i just hope they take someth
[roll call] is commissioner safai present at this meeting . [roll call] we have a quorum. Thank you, madam secretary. Motion is awarded to vote whether to disclose discussions held in the San Francisco administrative code section 67. 1a. At this time i make a motion. Motion not disclosed. Ill second this. Moved and seconded. We will take Public Comment at this time. Madam secretary. Please open the phone lines. Members of the public who wish to provide Public Comment on this item should call 408 4189388. Access code 1467135208. Press pound and press pound again. If you havent already done so, please dial star 3 to lineup to speak. A system prompt will indicate you have raised your hand. Please wait until the system indicates you have been unmuted and you may begin your comments. Please state your name and make your comment. You will have the standard two minutes to provide your comments. Please let us know if there are any callers. Madam secretary, there are no callers. Thank you. Hear
And Goldman Sachs reports today after jp morgan, citigroup and wells fargo set aside almost 28 billion for bad loans in the Second Quarter. Its 6 00 a. M. In london, home. M. From welcome back, nejra. I missed you. Lets talk about the forecast for the Third Quarter, thats what everybody is focused on. Third quarter net sales coming in at 3. 6 billion and the estimate was for 3. 8. Third quarter net, the estimate for 3. 8. An are looking at acquisition of berlin glass. , its themargin Second Quarter, 48. 2. The guidance there, 48 on the margin. The estimate was for 48. 1 . Looking back, nejra. Nejra thanks, and its interesting, on that acquisition you talked about, financial details not disclosed yet, that something maybe the market will wait for at some point. A final dividend in the Second Quarter, but its been an interesting couple of days in markets. Manus it has. Who do you put your faith and trust in . Faith and trust in the person at the front of the bus. Jamie dimon says we are
Thanks for taking my question, you added a sentence into the statement about the course of the economy depends on the path of the virus is this do you feel this idea or view is not widely enough understood do you feel you had warned back in may that too early reopening or cautious reopening might harm the economy do you feel that message is not heard and some of these reopenings took place perhaps sooner than they should have i think we feel that it might be the most central fact or the most central driver of the economy is the virus were seeing that again. You saw that during the lockdown when we got cases way down you saw the economy reopening. You saw spending go up and hiring go up now that the cases have spiked again. Again, the early data, highfrequency data suggests that theres a slower pace of growth at least for now. We dont know how deep or how long that will be. Its such an important sentence, we just decided that it needed to be in our post meeting statement. Its so fundame
Coronavirus vaccines produced neutralizing antibodies in all 45 trial patients. One analyst just gave it the highest price target on the street he will join us. Power lunch starts right now welcome, everybody great to be with you the Federal Reserve has released its beige book for a closer look at the economic recovery well have more on that as we dig through the headlines. We want to get it to you fast, we want to get it to you right we want to go to bob for a check on the markets hello there, tyler. We are sort of right in the middle of our 40point trading range in the s p 500 weve been stalling out at the 32, 33 level thats where we started the year thats where the june recent highs were were having trouble getting over that. The s p this week, about a 100point range. The good news, optimism on vaccine. The bad news is the reopening reclosing story is murky, causing a lot of stocks momentum apple up tech down today. Travel stocks, you see the optimism on the vaccine front, travel st