Because the threat posed by covid19 remain serious and widespread, we are proceeding in the best manner we can, remotely in todays case in order to ensure the safety of our witnesses, members, staff and the public. Todays conversation is essential to the oversight of how we should adapt and meet the challenge of increasingly assertive china especially in the backdrop of a Global Pandemic. I had hoped this would be a bipartisan discussion. Unfortunately, without reason or justification, republican colleagues have decided to absent themselves from the committee. I repeat my hope they will reconsider and join us for future unclassified public hearings and unclassified closed roundtables. We will continue to have them as they are being used to frame the oversight issues and requests and inform our members of the various threats facing the country. The American People expect congress will continue doing its job even in a pandemic and that means showing up at a minimum whether we want to or
Up more than 21 points to exit the bear cave is now up 15. But whats going on here . Could it be oil . In the last couple of minutes, oil suddenly, this is the aftermarket, started to tank. Its now down 7. 5 on apparent news that the United States government will start to add Strategic Petroleum reserves with all of the glut there is of oil. So while im looking, i just quickly checked exxonmobil and chevron, they are still up but they are at session lows as well. We are figuring it might have something to do with the oil news. In the meantime, the Small Business stimulus loans continue to flow as the treasury secretary asks for 250 billion in additional funds. We are expecting President Trump any moment now to give us an update on how that Small Business Program Lending situation is going. Its known as the Paycheck Protection Program. But the latest tally shows that the Small Business administration has processed 225,000 loans worth more than 60 billion. Thats just since friday. No wor
Outbreak in the u. S. , but new jersey reported its worst day yet. More money for Small Business as the treasury secretary and lawmakers signal additional funds will be allocated for the Small Business program, which has seen enormous demand and m. G. Firms from exxon to halliburton may lay off workers in light of the economic turm l turmoil. Well speak with the ceo of verizon about the companys effort to keep students informed while they are away from school. And the ceo of state street will join us. We have details on the Small Business relief meeting that is taking place this hour at the white house. Mike santoli is tracking the markets fading gains this hour. Ka kayla, first to you on breaking news in washington reporters are entering the roosevelt room right now where President Trump and his economic advisers are set to host a Virtual Meeting with a slate of financial industry ceos to talk about what they are doing to assist Small Businesses. The list of attendees includes some of
And no refunds. Hotels and airlines might be refunding trips, but many airbnb customers may be out of luck. We have the details. We begin with the volatile state of the markets and the Global Economy as the coronavirus outbreak widens. Italy went into a nationwide lockdown, u. S. Virus cases spiked, and the dow the market plunged. The Dow Jones Industrial complex entered a bear market wednesday, the s p tumbling into bear market territory thursday after President Trump took to the airwaves, announcing a ban on travel from europe. Pres. Trump to keep new cases from entering our shores, we will be suspending all travel from europe to the United States for the next 30 days. The new rules will go into effect friday at midnight. Emily in tech, the forecast on how much Companies Like apple, amazon, google, and facebook would lose in a downturn, and uber and lyft shares fell on the reality that customers are sheltering in place. I asked Wedbush Securities dan ives for his take on the volatili
We talked about the potential threats to National Security. Many airbnb customers may be out of luck. We have the details. We begin with the volatile state of the global markets. Andy went into lockdown u. S. Virus cases spiked. The dow jones entered a bear market wednesday, the s p tumbling into their market territory after President Trump announced a ban on travel from europe. For the next 30 days. The new rules will go into effect friday. Companies would lose on the downturn and uber and lyft shares fell on the reality that customers are sheltering in place. I asked dan ives for his take on the volatility. Need to put goal post around in terms of demand. When i look at the core names, a lot of the faang names, to me, we continue to believe these are buying opportunities and you navigate the volatility. Look upon a normalized environment, even if you stress test the models, here, you by apple and you by microsoft. These are names you think might benefit people dont want to take a loo