Any time. Members are reminded to keep their video function on at all times. Members are reminded that theyre responsible for muting and unmuting themselves and to mute themselves after they are finished speaking. Consistent with the regulations accompanying the resolution, staff will mute members when not recognized to avoid inadvertent background noise. All house rules relating to order and decorum apply to this remote hearing. [ inaudible ] economy and i know recognize myself for four minutes to give an opening statement. Chair powell, the law that required the Federal Reserve chair to testify before congress twice each year was established back in 1978. However, no fed chair has ever testified before this committee with the economy in the condition that it is in today. More than 116,000 americans are dead from the coronavirus. And just last week, 21 states recorded an increase in their average daily new cases compared to the prior week. The april jobs report was the worst in Americ
The hardest, and that is the stress test. Confusion with dividends and buybacks. We will break that down. The safe haven bid intact. Of the bondinto all market, particularly on the front end of that curve, guy. Guy absolutely. We are getting data through from the u. S. Economy as well. Coming through at 70. 1, that is light. , 87. 1. Conditions that is a little light. In terms of the oneyear inflation number, that is higher. That is a reflection of the people focusing on what their Grocery Shopping is look at the looking like. That rate is rising. We so that in the u. K. Today. Grocer, a big u. K. Showing really strong numbers. Alix all of that is going to play on the market as well as we continue to see Consumer Expectations probably hit, despite what happens on a state to state races, Consumer Spending, the number that we got basis, state to state the number that we got today tim adams joins us. Sheila bair will be joining us. She is a former fdic chairman. The top story, which is th
States to roll back their reopening process. And the move today in part driven by the banks. Goldman sachs, jpmorgan leading the dow lower as the Federal Reserve clamps down on dividends and buybacks amid the pandemic stress are the banks really as strong as they seem plus, the airlines are getting crushed today. Executives will meet with Vice President mike pence as we speak to ask for more aid as travel remains on eyes for most of the country. We will have more on that, kelly. But now over to you tyler, thank you so much the other big name, nike down 6 , almost 7 now after an ugly quarter. They missed estimates by a long shot revenue dropped 38 . Setting off a key debate on wall street we could be in for an earnings season of pain as Companies Struggle to get back to business we will continue to backstop any market pain if the economy remains sluggish or comes to a halt again what will take the wheel Going Forward . Bob pasani and steve diessman to debate the rising cases and the slo
Market. Shareholdersas top supports a bailout today as bayer agrees to a settlement to put months into related liabilities behind it. Manus it has just gone 6 00 a. M. In london, 7 00 a. M. In paris and berlin. It comes down to this. 2. 5 drawdownll a on the s p 500 . Is that really a readjustment . The camera has just moved. What have they done to me . Nejra we will get you back in a moment. That drawdown that we saw of 500nd 2. 5 in the s p seemed to be a bit of a reality check in markets to the reality of a second wave. Not only that, the possibility of slowdowns. Restrictions happening in the northeast as well, certain parts of the u. S. Particularly at risk. Question the strength of the rebound or recovery, depending on whether you make a distinction. A lot of red on the screen. The Msci Asia Pacific index down. Futures. 28 low open as well but it does look like if we do see losses, they will be more muted than what we saw yesterday. A second day of dollar strength. Our guest this
This is. Semisurge, theyre leading us to new highs. Yeah, and its been pretty interesting, scott, because this has been a much broader rally than i think a lot of the folks have talked about over the last couple of weeks, and part of it is its the semiconductors, thats one of the areas everybody looks at the big 5 theyre not looking at some of these other names. When you look at the smh, and you see where its trading now and near all time highs, it gives you a little bit of a sense of how much activity there is there, and continues to be there. We have seen so much in the unusual options side of things its been incredible across just about every name that you can imagine. So it certainly does stand out to me that thats been performing, along with biotech to the upside, and both of those, oftentimes youre going to see most of those names in the nasdaq, and thats part of the reason youre seeing some of this outperformance from the nasdaq is this the week that growth took the market back,