Thank you for joining us for todays events. Featuring doctors. This is your first time joining us, my i have the honor of serving as the dean of the school of business. 2020 marks a very special year for this school. Its our 100th anniversary were celebrating 100 years purpose driven business education. Since our inception, we believed in the power of partnership to inform and lead change. So very much would like to thank the cavalli center for Global Security analysis and her wonderful partners, the museum of American Finance and cfa society of new york. Is cosponsoring todays conversation. One of the goals of this centennial series is to shine the light on the important history place in shaping the future. In the latest book, thanking unfreedom, black woman in u. S. Finance and for the new deal, she explores rich. Of financial innovation and his Transformative Impact on u. S. Capitalism. Todays session will take place in three parts. First, my colleague and friend, david, president a
Its been a wide range today. Former citigroup ceo sandy weill will join us to discuss the water shed moment at his former company which just became the first major u. S. Bank to appoint a female ceo plus, well speak with jason robins from draftkings ahead of tonights nfl kickoff. And we are counting you down to some exciting earnings after the bell today including peloton, oracle, and chewy. Two out of three are big stay at home winners plus an interview with chewys ceo as soon as the numbers hit the tape lets get straight to the market in the final hour of trade another volatile session on wall street mike santoli tracking the action for us what caused the weakness here in the last few momentors so . That morning rally was really limp it did not pass any of the tests. It stopped where yesterdays highs were nobody had any faith this was really going to be upside momentum then you had a rally in the treasury market. Yields got compressed a little bit. And the dollar is also been higher
Implications for Monetary Policy but the implications for fiscal policy. Moree longer we wait, the institutional damage. Michael collins joining us. I think that was the first question everyone asked when this job support dropped, what do these numbers mean for the talks in d. C. . Michael i dont think these numbers have any impact. They are backward looking to a large extent. The survey period ended weeks ago. The is important is trajectory of job growth over the next couple quarters. Personally, it will be really sluggish. We have had a big rebound, a and part of that rebound is over, and it will be really tough. You have the expiration of some of these programs like ppp, unemployment benefits, and that is going to weigh on income and spending. Until theyy not act have a gun to their head. Are doing well, ostensibly, the markets are improving, they are dragging their feet. Negativewill take more data for them to act in unison. Jonathan in this market, it is not pushing anyone around.
July. It is the last week in july and we are running out of Unemployment Benefits and the rent is due august 1. There is a lot going on. Francine we will spend a lot of time on that. Lets get to first word news gupta. Itika group unveileditch mcconnell the new relief package, listing unemployment to 70 of prepandemic wages. Makes to pelosi panned that proposal. Health officials around the world are getting a reminder of how tough it is to permanently stamp out coronavirus. They are grappling with second waves of the pandemic. China reported the most cases since midmarch, and spain is scrambling to stay ahead of new outbreaks. Posed a new imposing new quarantine on travelers from there. Will stay near zero for a longer while. Policymakers open the twoday meeting tomorrow. The last day they met was in early june. Florida and california have yet to see the surges have that if that that have afflicted them since then. China eagle authorities following the closure, the latest development in
The coronavirus has changed so many norms and patterns of gathering as family, community, and here in congress. Send out your spirit that those who find themselves at odds with their colleagues might continue the Productive Work that must be done and which does not draw contentious attention, and addresses well the issues which are pressing upon our nation. Lord, have mercy. Continue to bless the men and women who attend to those who are sick, the number continuing to grow throughout our country. Keep our Health Care Professionals safe and inspire those who labor to find treatments and cures for this dangerous virus. May all that is done be for your greater honor and glory, amen. The speaker pro tempore pursuant to section 4a of House Resolution 967, the journal of the last days proceedings is approved. The pledge of allegiance will be led by the gentleman from california, mr. Takano. Mr. Takano i pledge allegiance to the flag of the United States of america and to the republic for whi