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Runs just under two hours. Good afternoon, everyone. Thank you for being with us, or being near us, at least in the technology since. I welcome all of you to todays hearing that weve entitled, examining the response to the covid19 pandemic. The subcommittee at the sound of the gavel will come to order. As the nation continues to fight the unprecedented Public Health crisis, americans worked to protect against further spread of the virus while trying to maintain a certain degree of normalcy, including maintaining a job and earning a paycheck. There is not a corner of the u. S. Economy that has not felt the impact of the pandemic todays discussion will talk about the harmful effects on the Manufacturing Sector. During this pandemic, many in the Manufacturing Community have adapted their operations to help pro ....
Dow down about 30 points though fractional moves if you look at whats working in the trade, its not your Traditional Technology and consumer names its utilities, health care and materials. What is netflix big miss for the growth trade is this a warning shot of beloved technology darling getting too high expectation it might be tactically on the short term but i dont think long term. For you to see a true rotation out of growth into value, you actually need to see Economic Growth and acceleration and a little bit of inflation. While we are seeing improvement in growth, we still have a long way to go. Were definitely seeing the better growth. Look at retail sales, Industrial Production this week every week were Getting Better data whether it lasts or n ....
Thinking about over the weekend . Next week, which is going to be just gigantic we have everything from ibm, we will bookcase ibm on monday and American Express on friday, both will be challenging and i think they could determine things. Carl, i have to tell you, 8 30 santelli comes on and gives you that housing start number, then diana talks about how there are not a lot of houses. I sit here and i think the fed has done a magnificent job, what can they do . They can take rates down to the point where, yes, maybe jpmorgan doesnt make as much money, bank of america certainly doesnt, but people are buying houses and thats whats been working in the stock market this week is the housing trade the lows, the home depot the deere small tractors, that stuff has been flying off the shelves and thats exciting. It was not, of course, the cloud, saas stocks and cybersecurity. Theres always a bull market somewhere. Right weve been taking no ....
We will be nice to mild, warm to hot. We will see anywhere from 60s, 70s, 80s to 90 degrees. It is 6 00 on a monday morning. Lets go to sal. We are looking at the bay bridge. I dont see a big backup. Lets check it out. This is when it starts to get slow. We might see slow traffic in the next few minutes. I already see a little bit of slowing. We will see what happens between now and the next report which is about 10 or 15 minutes off. Right now, traffic is moving towards the bridge. It is bridges. At 6 01, lets go back to the headlines. We are keeping an eye on a developing story in san pablo. The chp is investigating a freeway shooting off interstate 80 at San Pablo Dam road. The first call came in at about 4 30 this morning. We did find one car and some chp officers right off the freeway at a gas station. So far, the chp has not said if it is a confirmed freeway shooting. New statistics show the number of coronavirus cases is on ....
Several of whom will participate remotely. I will come artisticpa wish panl of witnesses. I thank them for a period. Today we will hear from mr. Steven berry, president and chief exec of Competitive Carriers Association paid ms. Shirley bloomfield, chief executive officer of the ruralhe broadband association. Mr. Dean kimmelman, Senior Advisor of Public Knowledge who will be appearing at testified remotely and mr. Jonathans vulture, president and chief executive officer of u. S. Telecom broadband association. The crisis has changed lead dramatically for every american. As the administration and the center for Disease Control and prevention encourages social a distancing to prevent further spread of the virus normalia activities like work, school ....