Agenda, number 3. Clerk agenda item number 3, approval with possible modifications of the minutes set forth in the august 13th, 2020. Is there any discussion on this item . At the corrections or modifications from the board . Ill make a motion to approve the minutes, as presented. Second. Okay. I think we have an opportunity for Public Comment at this point. Clerk okay. The moderator will be opening up the phone lines. The slide presented gives information on the Public Comment callin number, which is 408 4189388, access code 1467291452. For all attendees, please be aware theres a 30second lag time from our presentation to sfgov tv, at which point we will give 30 seconds for people to catch up. And our moderator will let us know when attend eres and Public Comment is open. Thank you, secretary. If you could please at this time we have two callers on the phone lines. Zero callers have specifically entered the Public Comment queue. A reminder to all callers on the line, please dial star
Written materials. You are the ema offices that required for all meetings. I expect all members to wear a mask expect when speaking. I recognize myself for an opening statement. More than a year ago, this subcommittee launched an investigation into Digital Markets. The twoives b have been to document problems and since then, weve received millions as well as conducting hundreds of hours of interviews. There were experts here, the subcommittees Ranking Member. We work closely with all members who have taken this work seriously and study the issues. This is the most bipartisan effort ive been involved with. The purpose of todays hearing is to examine the dominance of amaz amazon, apple, facebook and google. Amazon runs the Largest Online marketplace in america, c capturing 70 of all online marketplace sales. It operates across a vast array of businesses from cloud compute i ing. Apple is a provider of smart phones with more than 100 million in the United States alone. Services include fi
The dow industrials this wednesday morning are going to go up about 170 odd points at the opening bell. S p, modest gain. A fractional loss, though, for the nasdaq which is at the 11,000 level. Stocks overall getting help from the virus relief talks. Mitch mcconnell talking compromise. Senator schumer talking concessions from both sides. Theyre looking for a deal by the end of this week. My opinion, there is no way Congress Leaves Town friday without spending at least a trillion dollars. I think a deal is coming and the market likes it. Two stocks in the news and moving. Disney, up sharply despite losing 5 billion during the pandemic lockdown. Disney plus has 60. 5 million paid subscribers, 100 million overall and they are starting another streaming service next year. All of that helps. Disney is up seven. Novavax, their phase one trial showed their vaccine to be safe and created an immune response. That stock is way up, 30 bucks a share on the upside. All right. Something different. L
Industry. They took questions about the use of thirdparty seller data and allegations of anticonservative bias. The subcommittee will come to order. Without objection, the chair is authorized to declare recess at any time. Welcome to todays hearing on marketing power. Amazon, apple, facebook, and google. I would like to remind members we have established a distribution list dedicated to circulating specific motions or other written materials members might want as part of our hearing today. If you would like to submit materials, submit them to the email address distributed to your offices. We will circulate materials as quickly as we can. Thatld also remind members face coverings are required for all meetings in an enclosed space such as Committee Hearings. I expect all members on both sides of the aisle to wear a mask except when you are speaking. I recognize myself for an opening bateman Opening Statement. This committee launched an investigation into Digital Markets to document compe
Headlines. Fang with all the headlines in the greens, apple, amazon, netflix up 1. 5 . Tech remains hot, hot, hot. Still to come, definitely coming on todays show, coronavirus cases climb and states continue to rethink their opening plans. Well speak with fed chair James Bullard, what it means for the economy. Shares of Taylor Morrison posted record sales well speak to the ceo about whats driving the strength in the housing mark up a third of the percent. Lets start focusing on the big stories. Mike santoli tracking the markets, meg tirrell with the rising case count and courtney watching flags in the Retail Sector mike, lets kick things off with you. Market idling right here, holding above the flat line for the moment it seems like stealth pullback consolidation weve had last few weeks, s p 500, talking about a summer trading range this is what we had last summer. It looked like that on a narrow basis. Scares in both directions. Were not there in terms of prolonged sideways action. Th