Here. Commissioner john burton. Here. Commissioner gail gillman. Here. And commissioner doreen woo ho. All right. Item 2 is approval of minutes of the october 13, 2020 Port Commission meeting. So moved. Second. We have a motion and second and roll call vote, please. Certainly. [roll call]. Commissioner burton wasnt seated on the 13th. Ill go to commissioner gill million. Yes. Commissioner woo ho. Yes. Item 3 is Public Comment on executive session. Thank you. We will open the phone lines to take Public Comment at this time for executive session for members of the public and the operator will provider instructions now for anyone on the phone who would like to provide pc. At this time well open the lines for anyone on the phone wanting to make a Public Comment on executive session. Press star 3. The system will let you know when your line is open. Others will wait on mute until their line is open. Comments are limited to three minutes permission. The queue is now open. Please dial star 3
Another day of dragged on stimulus talks, john. Intel not a small factor in the trade. When i think of volatile tech stocks, i tend not to think about intel. Look that two year chart ups and downs. Its like an obstacle course, a tough mudder or something. Last quarter, it was about the supply side and intels manufacturing. This quarter the surprise was more around demand and the extent to which enterprise and government just isnt buying in the data center. Cloud picking up the slack that has an impact on margins. Of course, we have the pc stuff going on which is largely a tail wind they havent for a long time but theyre not buying them in the enterprise as we would expect people are not in the workplace. People are adjusting the way they work. That does have an impact on intel. A lot of balls in the air here this volatility predated, bob swan particularly on that manufacturing side but now hes got all of these other things to deal with as well investors looking for clarity around what
And roll call vote, please. Certainly. [roll call]. Commissioner burton wasnt seated on the 13th. Ill go to commissioner gill million. Yes. Commissioner woo ho. Yes. Item 3 is Public Comment on executive session. Thank you. We will open the phone lines to take Public Comment at this time for executive session for members of the public and the operator will provider instructions now for anyone on the phone who would like to provide pc. At this time well open the lines for anyone on the phone wanting to make a Public Comment on executive session. Press star 3. The system will let you know when your line is open. Others will wait on mute until their line is open. Comments are limited to three minutes permission. The queue is now open. Please dial star 3 if you wish to make Public Comment. Thank you. Do we have anyone on the line . At this time there are no members of the public on the phone wishing to make Public Comment on executive session. Commissioner thank you. Item 4 is executive se
Well in many states. Businesses are holding back from spending amid the pandemic and stimulus talks appear to be at a standstill once again with leaders from both sides accusing one another of moving the goal posts in the negotiations. Unlikely we will get a stimulus before the election. 59 minutes to go, dow down 2. 2 . Lets get to the stories we are watching right now as stocks fall sharply mike santoli is tracking the market selloff for us. Which parts he is watching in particular meg tirrell digging into the latest covid numbers mike, whats the broader take on what is happening today average bit of a rethink on a mull pent fronts the idea that covid might cause more business disruption last week the s p 500 was skirting this boundary between this sort of breakout level we had and around 3,400 we are actually below that right now. Did a little bit of damage s p and the nasdaq fell below the 50day average the s. A. P. Warning probably evented the nasdaq from doing a better job of sup
On the walls check out my twitter feed. See all the ridiculous speculative names people hope ill mention or pump same deal, no earnings, but right on stocks. These are textbook signs of what we call froth. Thats what this is. Its froth and you know what . All the froth got crushed today. Dow plunging 517 points, s p plummeting 117 , nasdaq nose diving 1. 55 not bad for an amateur so whats become too riskier let me give you an example last night kind of cool. We had novavax on, hottest stock on the market. Vaccine developer working on something for covid19 the stock runs from 18 to 40 in two days i cant recommend Something Like that thats this, you know, novavax is this, okay. Good guys, but it doesnt matter it actually managed to rally today. Maybe novavax wins the vaccine rate if they dont, the stock is going to get eviscerated id rather have you in something thats diversified glaxo, pfizer, j j same for biotech stocks. Anything related to ebola, flu, except regeneron they have little