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Intervening event would make it just really challenging to distinguish the tax act from the trade barriers, the pandemic, and then the high inflation and thats the challenge. Thanks so much, phil. Thanks, alan, for coming today and well take a 10 minute break and then resume at 10 00. I just want to thank you. [applause] the moderator of the session. Thank you so much for doing that. Thank you so much for having me. Welcome everyone. We desert all the result we should be worried about the deficit, climb above two and a 50 and how basically a massive problem. Talk to a lot of people should come speaking with steve eisen his famous from the big short last week and is said the deficit is been a concern for 30 years, it is never matter. If you want to bet you will be wrong. Heres the market perspective why it matters and why people care. I love the panel, i love these guests, torsten, you do put our charts and want to start with you mapping out from the market view why the deficit matters ....
New york city who is helping us to h great and educated guide fr teachers speeded you canan finih watching this if you go to our website at cspan. Org. We will live there to take your life to a conference on federal spending and debt. Current debt, which is around 100 of gdp is at a level we havent seen since world war ii and is a growing cause of concern. Tackling this problem presents a variety of challenges. Today were fortunate to have a group of very smart and accomplished people who are going to share their insights. Well get to hear a variety of perspectives. To do this, we have a mix of panels, discussions and speakers. Well hear about the economic and fiscal challenges caused by the debt. The impact of debt on invests and consumers, the roles played by Social Security. Approaches for analysting fiscal policies and finally a discussion of potential policy options. And a number of dimensions of the debt challenge. For our ....
And welcome to power lunch. Im melissa lee. Stocks keep surging. New records for the s p and nasdaq and the usual suspects keep hitting fresh new highs. Corning, electronic arts, nvi nvidia, the list goes on and on. On pace for its best day since march 3rd, snap has traded over 44 million shares today. That is more than double its 30day average volume. One of the key catalysts for had monday, the surge in the price of oil. Crude hitting nearly 50 a barrel. Lets get the latest from the y nyse floor and bob pisani. Reporter and thats the key. The market in the rotation. Lets put up the board. Whats been weak throughout the year is this energy, banks and retail. Whats leading today . Energy, banks, and retail. This is what i talk about this rotation. Consumer discretionary but theyre lagging today. Take a look at sectors in 2017. Yes, tech and Consumer Discretionary but, look, banks and energy have been laggards. Theyre leadi ....