Merely dealing with partisan gridlock the dow inched up two points and the nasdaq jumped 1. 12 , this i what we have to think about. Six months ago it looked like the world was ending everyone in congress had a reason to reach a compromise both sides have an incentive to be more stubborn they get to blame each other in the runup to an election but as Speaker Pelosi told me this morning, the deal is still on the table. I took her full statement as a sign getting a deal done could be extremely difficult im saying this purely in micah pasty as your investing coach without a stimulus deal, there will be a ton of private company losers and could be a much worse place a year from now if we get a vaccine by the end of the year too many struggling Small Businesses cant wait that long. Now if you got a white collar job you can do from home you may not realize how bad it can be. The future is fine for anyone that can work from home whether we get another bailout or not. For millions of americans
Transportation and infrastructure. Transportation industry representatives testify about their role about shipping personal protective equipment and other essential goods during the pandemic. Today we will hear from these speakers. Thank you all for being here. One of our participants is testifying remotely. Welcome to each and every one of you. We have conducted a series of hearings on covid19. We are hearing those discussions. We are continuing that by hearing about the Transportation Industry. Theave underscored importance of our Transportation Network and moving goods and people safely and efficiently as well as ensuring supply chain fluidity in response to the unexpected events. Manye grateful for the frontline workers who have shown resilience and resourcefulness to help deliver Critical Care supplies to those in need. The transportation sector has countless numbers of these unsung heroes. Introduced a Critical Infrastructure employee protection act. For arcde support frontline C
Good afternoon. The committee will come to order. The today the committee convenes for a hearing on the state of transportation and Critical Infrastructure examining the impact of the covid19 pandemic. I welcome our panel of witnesses and thank them for participating. Today we will hear from mr. John bazella, president and ceo, alliance for automotive innovation. Mr. Randy gill yot, chairman of the board, American Trucking associations. Mr. Ian jeffries, president and ceo association of american railroads. Mr. Alex oler, interim president and ceo interstate Natural Gas Association of america. And mr. Larry willis, president Transportation Trades Department aflcio. Thank you all for being here. I understand, mr. Gilliot is testifying remotely. Welcome to each and every one of you. The committee has conducted several oversight hearings on quid pro quo 19 including a comprehensive look at the aviation industry. We are considering the impact of the covid19 virus on surface transportation a
Ideally, we keep everything closed until the federal government massively ramps up its testing and Contact Tracing capacity that would be my preferred outcome. But what if were waiting for nothing . Ive got to tell you without more aggressive action from the federal government, we may have no choice but to reopen as the economy spirals into a depression what does reopening the economy even mean, though . The market is one reason the dow slipped 457 points today nasdaq was down 2. 6 theyre waiting for any direction from the government, the federal government aside from a handful of people who have the situation figured out. I have been pounding the table its mad money, not mad depression ive been pounding the table on amazon for months because it has convenience, scale and low price to take over the market. I think walmart stock, too cheap. Given that its got a big Digital Business with 4,769 warehouses along with the brick and Mortar Stores that serve as warehouses, of course. Fabulous
Technology. This will only happen if the world hangs together and ofperates to create a sort and in the wake of that, a growing trading system. So, we need whether you call it multilateral is him or not, we need cooperation to maintain that, cooperation on the big global issues of dealing with climate change, someday dealing with what happens with the adoption of new technology that could be disruptive. We need a kind of cooperation that is sustained. We will have to leave it there. David lipton, thank you very much. The First International director of the monetary fund. Getting morell be Imf World Bank interviews over the next two days from francine and tom. A massive old in Oil Inventory through the week of october 11 has wti falling, down half of 1 now per barrel. We have a 9. 3 million build. The market was anticipating a 2. 5 million build. Gasoline inventory saw a drawdown more than anticipated with refinery use down by 2. 6 , of the mediocre gains that we had been making this we